Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium

Muslum Mursalov; Serhii Lyeonov; Inna Tiutiunyk

doi:10.1007/978-3-031-28131-0_13

Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium

Muslum Mursalov
, Serhii Lyeonov
, Inna Tiutiunyk

Department of Applied Social Sciences (ROZ/ROZ2)

Azerbaijan State University of Economics
Sumy State University
The London Academy of Science and Business

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

2 Citations (Scopus)

Abstract

One of the most influential inhibitors of business sustainability is the shadow economy. Economic entities direct their efforts to distort their financial, accounting, or tax reporting in the direction of reducing the declared amount of income, hiding the results of their activities. This leads to a decrease in the level of their financial and investment potential, the level of trust in the business environment, transparency, and openness of the business. The findings confirmed that scientists and practitioners have not developed effective tools to increase business transparency. This provokes a more detailed study of the factors of confidence building in business and the development of tools for their effective use. This study explores the short- and long-run relationship between transparency and leadership in business and the level of shadow economy through time series analysis. The information base of the study is the World Bank and the International Monetary Fund data for EU countries and Ukraine for 2003–2020. The results confirm the hypothesis of the negative impact of shadow economy on the dynamics of indicators of transparency and trust in business and prove their dependence in the long run.

Original language	English
Title of host publication	Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference
Editors	Wadim Strielkowski
Publisher	Springer Nature
Pages	173-187
Number of pages	15
ISBN (Print)	9783031281303
DOIs	https://doi.org/10.1007/978-3-031-28131-0_13
Publication status	Published - 2023
Event	8th International Leadership Conference on Novel Insights in the Leadership in Business and Economics After the COVID-19 Pandemic, NILBEC 2022 - Prague, Czech Republic Duration: 24 Jun 2022 → 25 Jun 2022

Publication series

Name	Springer Proceedings in Business and Economics
ISSN (Print)	2198-7246
ISSN (Electronic)	2198-7254

Conference

Conference	8th International Leadership Conference on Novel Insights in the Leadership in Business and Economics After the COVID-19 Pandemic, NILBEC 2022
Country/Territory	Czech Republic
City	Prague
Period	24/06/22 → 25/06/22

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 16 Peace, Justice and Strong Institutions
SDG 17 Partnerships for the Goals

Keywords

Illicit financial flows
Leadership
Shadow economy
Transparency
Trust

ASJC Scopus subject areas

General Business,Management and Accounting
General Economics,Econometrics and Finance

Access to Document

10.1007/978-3-031-28131-0_13

Cite this

Mursalov, M., Lyeonov, S., & Tiutiunyk, I. (2023). Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium. In W. Strielkowski (Ed.), Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference (pp. 173-187). (Springer Proceedings in Business and Economics). Springer Nature. https://doi.org/10.1007/978-3-031-28131-0_13

Mursalov, Muslum ; Lyeonov, Serhii ; Tiutiunyk, Inna. / Shadow Economy, Transparency, and Leadership in Business : Short-Run Dynamics and Long-Run Equilibrium. Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference. editor / Wadim Strielkowski. Springer Nature, 2023. pp. 173-187 (Springer Proceedings in Business and Economics).

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abstract = "One of the most influential inhibitors of business sustainability is the shadow economy. Economic entities direct their efforts to distort their financial, accounting, or tax reporting in the direction of reducing the declared amount of income, hiding the results of their activities. This leads to a decrease in the level of their financial and investment potential, the level of trust in the business environment, transparency, and openness of the business. The findings confirmed that scientists and practitioners have not developed effective tools to increase business transparency. This provokes a more detailed study of the factors of confidence building in business and the development of tools for their effective use. This study explores the short- and long-run relationship between transparency and leadership in business and the level of shadow economy through time series analysis. The information base of the study is the World Bank and the International Monetary Fund data for EU countries and Ukraine for 2003{\textendash}2020. The results confirm the hypothesis of the negative impact of shadow economy on the dynamics of indicators of transparency and trust in business and prove their dependence in the long run.",

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Mursalov, M, Lyeonov, S & Tiutiunyk, I 2023, Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium. in W Strielkowski (ed.), Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference. Springer Proceedings in Business and Economics, Springer Nature, pp. 173-187, 8th International Leadership Conference on Novel Insights in the Leadership in Business and Economics After the COVID-19 Pandemic, NILBEC 2022, Prague, Czech Republic, 24/06/22. https://doi.org/10.1007/978-3-031-28131-0_13

Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium. / Mursalov, Muslum; Lyeonov, Serhii; Tiutiunyk, Inna.
Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference. ed. / Wadim Strielkowski. Springer Nature, 2023. p. 173-187 (Springer Proceedings in Business and Economics).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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T2 - 8th International Leadership Conference on Novel Insights in the Leadership in Business and Economics After the COVID-19 Pandemic, NILBEC 2022

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AU - Lyeonov, Serhii

AU - Tiutiunyk, Inna

PY - 2023

Y1 - 2023

N2 - One of the most influential inhibitors of business sustainability is the shadow economy. Economic entities direct their efforts to distort their financial, accounting, or tax reporting in the direction of reducing the declared amount of income, hiding the results of their activities. This leads to a decrease in the level of their financial and investment potential, the level of trust in the business environment, transparency, and openness of the business. The findings confirmed that scientists and practitioners have not developed effective tools to increase business transparency. This provokes a more detailed study of the factors of confidence building in business and the development of tools for their effective use. This study explores the short- and long-run relationship between transparency and leadership in business and the level of shadow economy through time series analysis. The information base of the study is the World Bank and the International Monetary Fund data for EU countries and Ukraine for 2003–2020. The results confirm the hypothesis of the negative impact of shadow economy on the dynamics of indicators of transparency and trust in business and prove their dependence in the long run.

AB - One of the most influential inhibitors of business sustainability is the shadow economy. Economic entities direct their efforts to distort their financial, accounting, or tax reporting in the direction of reducing the declared amount of income, hiding the results of their activities. This leads to a decrease in the level of their financial and investment potential, the level of trust in the business environment, transparency, and openness of the business. The findings confirmed that scientists and practitioners have not developed effective tools to increase business transparency. This provokes a more detailed study of the factors of confidence building in business and the development of tools for their effective use. This study explores the short- and long-run relationship between transparency and leadership in business and the level of shadow economy through time series analysis. The information base of the study is the World Bank and the International Monetary Fund data for EU countries and Ukraine for 2003–2020. The results confirm the hypothesis of the negative impact of shadow economy on the dynamics of indicators of transparency and trust in business and prove their dependence in the long run.

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KW - Trust

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PB - Springer Nature

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ER -

Mursalov M, Lyeonov S, Tiutiunyk I. Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium. In Strielkowski W, editor, Leadership, Entrepreneurship and Sustainable Development Post COVID-19 - 2022 Prague Institute for Qualification Enhancement PRIZK International Leadership Conference. Springer Nature. 2023. p. 173-187. (Springer Proceedings in Business and Economics). doi: 10.1007/978-3-031-28131-0_13

Shadow Economy, Transparency, and Leadership in Business: Short-Run Dynamics and Long-Run Equilibrium

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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