“…Scientific experience is wide and studies include peculiarities of the banking sector and/or region for presenting the case studies for better understanding of more relevant institutional factors for the soundness of banks. For example, peculiarities that distinguish research results may relate to the reforms made in the banking sector, bank size, institutional characteristics, abilities to adopt the newest technologies, the level of the soundness of banks, macroeconomic environment, and geographical characteristics (e.g., Cheng & Qu, 2020;Fang et al, 2014;Huang, Chiang, & Tsai, 2015;Menshikov et al, 2019;Yin, 2019;Kenjegalieva & Simper, 2011;Jiang & Wu, 2023). Design of the present study aims to demonstrate interdisciplinary nature of the factors, which form institutional environment and are significant for the soundness of banks.…”