FINANCE. TAXES. CREDIT УДК 336.6:330.342 JEL: G20, G28, G32 1Institute for Economics and Forecasting of the NAS of Ukraine, Research ID : http://www.researcherid.com/rid/ WARPED FINANCING MODELS AS ADJUSTMENTS TO THE DISTORTED INSTITUTIONAL ENVIRONMENT The influence of institutional development on economic phenomena within the country, in particular on market entry strategies and functioning of enterprises, are studied. It is established that as the institutional environment develops, the focus of their activity shifts from attempts to use distortions in the institutional environment to their advantage (optimization of taxation and obtaining monopoly profits) to more competitive behavior (technical and marketing innovations). Keywords:institutional environment; institutional development; zombie enterprises; quasi-risk financing model; negative equity.
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