Citations count: 6
Reference:
Brovkin A.V. —
Recommendations for Developing the Methodology of Socio-Economic Impact Assessment When Implementing Infrastructure Projects
// Finance and Management.
– 2017. – ¹ 3.
– P. 9 - 16.
DOI: 10.25136/2409-7802.2017.3.23725 URL: https://en.nbpublish.com/library_read_article.php?id=23725
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Abstract:
The article is devoted to developing the methodology for comprehensive assessment of all the combination of 'external effects' and 'socio-economic efficiency' of infrastructure projects. The author of the article gives necessary definitions and provides a broad list of effect groups that can be assessed. He also provides variants of indicators for each group of effects to assess relevant effects. The comprehensive analysis of project efficiency will extend the list of criteria that can be used in the decision making process concerning whether to implement an infrastructure project or not. This will allow to assess the impact on the society in general and encourage the best investment decisions. The results of the present research were obtained using analysis and systematisation of researches in this sphere combined with the author's recommendations and findings. The main results of the research that represent the scientific value thereof is, first of all, the synthesis of different methodologies and socio-economic impact indicators used in these methodologies within the framework of one research. Secondly, results of the research can be used, and suggested to be used, by all those who are involved in developing the unified basic methodology of socio-economic impact assessment to be further used by infrastructure project designers, executives and assessors including state authorities which would allow to reduce the time and resource consumption when searching and/or developing the methodology. The author also makes a conclusion that such a unified methodology will contribute to making an infrastructure project to be a driver of innovation-based economic growth as a result of the comprehensive assessment of all socio-economic impact assessement of such an infrastructure project implementation.
Citations count: 5
Reference:
Bobrova A.V. —
Restructuring of Foreign Trade Turnover Based on the Example of the Northwestern Federal District
// Finance and Management.
– 2018. – ¹ 3.
– P. 28 - 45.
DOI: 10.25136/2409-7802.2018.3.26017 URL: https://en.nbpublish.com/library_read_article.php?id=26017
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Abstract:
The subject of the research is the external trade of the Northwestern Federal District and the subjects of the Russian Federation that constitute it, in particular, specific features and structure and dynamics of the export and import in the aforesaid regions. Bobrova has analyzed the volumes of external trade turnover in these regions, the main commodity positions and partner countries for each Russian Federation subject and the District in general. The aim of the research is to define reserves of the export and import substitution in the Russian Federation subjects of the Northwestern Federal District and to develop recommendations on how to use the aforesaid reserves for particular commodity groups and partner countries. The methodological basis of the research includes comparative analysis of export and import of particular Russian Federation subjects comprising the Northwestern Federal District as well as traditional economic and mathematical methods of rating, vertical and horizontal analysis of statistical data of foreing trade turnover. The novelty of the research is caused by the fact that the author applies the systems approach to defining the problems of foreign trade turnover in the aforesaid regions and methodology for restructuring export and import in the Russian Federation subects. In conclusion, the author emphasizes the need to change priorities of export and import in the regions of the Northwestern Federal District by replacing exported resources with the products made out of them or refusing from export of Russia's natural resources, and by import substitution and extension of the range of imported goods at the account of primary innovative and investment needs of the region.
Citations count: 5
Reference:
Shemarykina D.A. —
Trends in the Development of Information Legislation on Enforcement Proceedings between Federal State Bodies of the Russian Federation
// Finance and Management.
– 2014. – ¹ 4.
– P. 13 - 24.
DOI: 10.7256/2409-7802.2014.4.13902 URL: https://en.nbpublish.com/library_read_article.php?id=13902
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Abstract:
The article discusses the necessity and urgency of improving the legal norms governing the activities of the Federal Bailiff Service (FBS) being the only authorized body of the executive branch performing the enforcement of court decisions. Thus, one of the priorities of the Russian FBS is to replenish Russia's consolidated budget by debt enforcement of taxes and duties, administrative fines, execution fees. One of the strategic objectives is transition to enforcement in electronic form. To solve it, the Russian FBS should ensure the legal value of paperless electronic interaction with public authorities. The legal analysis of formulated proposals on legal regulation of information interaction between the Federal Bailiff Service and other bodies of executive power has been applied as a research method. It is concluded that the development of legislation on the exchange of electronic information on enforcement proceedings between federal state authorities of the Russian Federation is one of the priority activities. Eventually, it would not only improve the enforcement of judicial decisions, but also increase the revenues in the federal budget.
Citations count: 5
Reference:
Samygin D.Y. —
Review of Monograph “Audit Method: Procedures, Advice, Recommendations” edited by N. G. Baryshnikov (M.: INFRA-M, 2015)
// Finance and Management.
– 2014. – ¹ 2.
– P. 67 - 70.
DOI: 10.7256/2306-4234.2014.2.13695 URL: https://en.nbpublish.com/library_read_article.php?id=13695
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Abstract:
In the situation of modernization and development of the economy of various entities, we need new audit and the auditor’s report which could help to build trust for the audited entity and create an advantage for it as compared with the entity which was not audited. Such auditor’s report must not only contain the opinion of the condition of financial statements, but also the information about the condition of the entity and the recommendations related to the improvement of the efficiency of its operations, advice on correction of various errors and practical consultations on improvement and modernization of the accounting procedures used by such entity.
The work offers a review of the monograph written by a group of authors and devoted to the modern issues of audit. It discusses the preliminary procedures which precede the audit as such, the analytical procedures used by auditors, the procedure for obtaining audit evidence, final procedures of audit, and recommendations. In this work, the author used the method of monographic research, economic, mathematical and statistical methods, comprehensive economic, financial and management analysis, accounting information generalization methods, abstract logic. This review expresses the key substantive aspects of the scientific research presented to the reader as well as the direction of the authors’ research and the scientific problems announced for examination. This monograph is made especially valuable by the advice on correction of accounting errors, recommendations on improvement of the efficiency of operations, and possible adjustments and directions of improvement of accounting in the entity.
Citations count: 4
Reference:
Danilova N.V. —
Charges for the Negative Impact on the Environment: the First Estimates of New Laws
// Finance and Management.
– 2014. – ¹ 4.
– P. 54 - 80.
DOI: 10.7256/2409-7802.2014.4.13804 URL: https://en.nbpublish.com/library_read_article.php?id=13804
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Abstract:
The Federal Law ¹ 219-FL "On Amendments to the Federal Law "On Environmental Protection" and some legislative acts of the Russian Federation" passed July 21, 2014 provide for a radical reform of a number of the most important institutions of environmental law including charges for negative impact on the environment. The paper analyzes new provisions of the basic environmental law. Attention is focused on such issues as changes in the list of paid negative impacts; identification of persons obliged to pay charges; regulation of payment rates; the use of multiplying coefficients; accounting for the costs of activities on the environment protection; responsibility for untimely or incomplete payment of fines. The study uses general and special research methods, namely dialectical, formal and logical, formal and legal as well as comparative legal methods. The analysis has led to the conclusion that most problems in the legal environmental regulation have been eliminated. At the same time the study reveals some gaps and inconsistencies in norms of the new law. The author raises the question of vague legislative wording, in particular regarding the identification of persons who are obliged to pay charges for the negative impact on the environment. Also, the author notes the incorrect use of the terms in the regulations of multiplying coefficients.
Citations count: 4
Reference:
Parfenova M.V. —
Development of Measures Aimed at Increasing Efficiency of a Corporate Innovation Policy (the Case Study of OOO 'AgroPromServis'
// Finance and Management.
– 2016. – ¹ 3.
– P. 176 - 180.
DOI: 10.7256/2409-7802.2016.3.20413 URL: https://en.nbpublish.com/library_read_article.php?id=20413
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Abstract:
As a result of an established innovation policy that acts as a catalyzer of the financial economic activities, OOO 'AgroPromServis' is a financiall sound company and has a sustainable profit according to the results of the period under research (2013 - 2015). Nevertheless, indicators showing profit before taxation and net profit of the company are rather insignificant and profitability ratios are not high. Moreover, OOO 'AgroPromServis' does not conduct an efficient innovation policy because their annual investment of assets into main funds and equipment assembly have not increased the economic added value d of the company over the period since 2013 till 2015. Quite on the contrary, the economic added value has shown a tendency towards decreasing which also demonstrates the decline in the company's value. Generally, the main strategic purpose of the development of the aforesaid company is to increase its economic and technological efficiency. To achieve the purpose, it is planned: to develop prospective areas; to implement new production technologies; to launch production of new kinds of products, etc. The analysis of the innovation policy has allowed to discover the main problems and gaps which, first of all, are the following: 1) innovation policy of OOO 'AgroPromServis' involves plain reproduction which does not increase efficiency of their financial and economic activity in general; 2) due to low volumes of net profits, the company has a shortage of internal sources to fund investment activities; 3) projects executed by the company are not efficient enough because the company has a limited fund for financing all desirable investment projects and therefore they have to choose between investment projects trying to achieve the best balance between risks and profitability of projects as well as taking into account their capital-ouput ratio, i.e. necessary expenses.
Citations count: 4
Reference:
Aguzarova F.S. —
Investment Potential of the North Caucasian Federal District
// Finance and Management.
– 2016. – ¹ 2.
– P. 71 - 77.
DOI: 10.7256/2409-7802.2016.2.13541 URL: https://en.nbpublish.com/library_read_article.php?id=13541
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Abstract:
The present research article is devoted to the investment potential of the constituents of the North Caucasian Federal District. In her article Aguzarova examines socio-economic indicators of the regions and based on that provides a comprehensive assessment of the current state of investment development and investment potential of the regions of the North Caucasian Federal District. The author emphasizes the crucial need to attract investments including foreign investments into Russian economy. According to the author, growing investments contribute to the economic growth and development of the agricultural industry and health resort institution. The author states the great role of tax policy instruments in the encouragement of investment activity.
Citations count: 3
Reference:
Keleinikova S.V., Samygin D.Y., Bulycheva Y.V. —
Models of the Organizational and Economic Development Mechanism of the Regional Vegetables Market
// Finance and Management.
– 2017. – ¹ 2.
– P. 11 - 23.
DOI: 10.25136/2409-7802.2017.2.21175 URL: https://en.nbpublish.com/library_read_article.php?id=21175
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Abstract:
Nowadays in Russia there is no satisfaction of needs of the population in vegetable products, which consumption is almost a half less than required standards. The main reasons are low level of vegetable production and the purchasing power of the population, which is associated with a low level of development of market infrastructure. The investigation was performed according to data about manufacturers of vegetable production of the Republic of Mordovia. In this article were used the Herfindahl-Hirschman Index, index Linda, technique of the analysis of market potential, economic-mathematical methods of extrapolation of trends and optimization of production. The necessity of improving the mechanisms of agrofood policy on market vegetables, showing characteristics and existing problems of effective functioning of vegetable subcomplex, summarizes the main factors of development of the market of vegetable production, formed the methodology and held on its analysis and assessment of the State of competition Wednesday at the vegetable market in the Republic of Mordovia, developed models to optimize the structure of sown areas under vegetables in agricultural enterprises, in the assessment of the market potential of vegetable growing on the organizational structure of the wholesale food market. Results of the study will be useful to the authorities for the formation of food policy on the vegetables market, because they allow to identify promising areas and positions in sales of vegetable products, that stimulate their further production.
Citations count: 3
Reference:
Kasyanov R.A. —
MiFID II: Regulation of Financial Trading Facilities in the EU
// Finance and Management.
– 2018. – ¹ 2.
– P. 13 - 21.
DOI: 10.25136/2409-7802.2018.2.26067 URL: https://en.nbpublish.com/library_read_article.php?id=26067
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Abstract:
The article is devoted to important changes happening on the global financial market. Based on a particular example of financial regulation, the author of the article examines the process of improving the legal basis of the single European financial market. He notes that the common legal framework of the European Union is extended not only extensively but also intensively due to implementation of new kinds of trading in the financial sphere. The author analyzes the main kinds of trading facilities, in partciular, regulated markets, multilateral trading facilities, and organised trading facilities taking into account the second 'Markets in Financial Instruments Directive' (MiFID II) and 'Markets in Financial Instruments Regulation' (MiFIR). In the course of his analysis Kasyanov has used general and special research methods such as analysis and synthesis, generalisation, comparison, historical and systems approaches. In conclusion the author notes that according to MiFID II organised trading kinds being viewed in this article are in fact trading facilities and thus subject to the provisions of MiFID II and MiFIR. New laws and guidelines are supposed to bring regulation of multilateral trading facilities (MTF) to an advanced level and fill in the gap in regulation of organised trading facilities (OTFs).
Citations count: 3
Reference:
Fedorova O.S. —
Single Budget Account: Concept and Essence
// Finance and Management.
– 2015. – ¹ 4.
– P. 122 - 129.
DOI: 10.7256/2409-7802.2015.4.15452 URL: https://en.nbpublish.com/library_read_article.php?id=15452
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Abstract:
The object of the research is a single budget account. The subject of the research includes theoretical and methodological aspects of the single budget account. The author examines the methodological principles of the single treasury account as well as opportunities of the Federal Treasury in a single treasury account during the transition to a new information technology (related to the arrangement of the centralized operational control over the time and transfer of funds to recipients, prompt preparation of all reported data for the execution of the expenditure part of the federal budget in the territory of the Russian Federation, etc.). Particular attention is paid to existing approaches to the contents of the technologies of the single treasure account. In her research the author has applied the following methodological approaches: general scientific (systems and materialistic) methodologies and scientific research methods (analysis, synthesis and system comparison). The main conclusion of the research is related to the creation of actual preconditions for effective management of the single treasure account and benefits associated with the introduction of the single treasury account in conjunction with the activities of preliminary and current control over the targeted use of funds. The novelty of the research is caused by the fact that the author has studied the poorly studied question about the nature and significance of the single treasury account of the budget under modern conditions. The results can be used by the treasury and financial bodies.
Citations count: 3
Reference:
Khusyainov T.M. —
Overview of the Labor Market of the Republic of Tatarstan: Branches of the Economy and Prospects of Regional Development
// Finance and Management.
– 2016. – ¹ 1.
– P. 37 - 50.
DOI: 10.7256/2409-7802.2016.1.14702 URL: https://en.nbpublish.com/library_read_article.php?id=14702
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The specific features of the formation, distribution and use of human resources in a given region are determined by regional differences in natural conditions and resources, demographic base and economic potential, which leads to the development of specific abnormalities in the functioning of the labor market in the region, the current level and structure of employment, etc. Regional specific features are also the cause of differences in part of the response of local labor markets to changing economic conditions. In this article, the author attempts to analyze the state of the labor market of the Republic of Tatarstan as of 2014. Attention is paid to the issues such as: the structure of the labor force (gender, age, education), the main sectors of the economy represented in the Republic, the levels of unemployment and migration in Tatarstan. As the main research method, Husiyanov has used the analysis of statistical data provided by the governmental statistics agencies, Rosstat and TatStat. As the findings of this study, it may be noted that at present the labor market in the Republic of Tatarstan is in the process of restructuring: the value of some sectors of employment declines, while others grow. The registered unemployment rate on the labor market at the moment is not high, but it is probably due to the small number of appeals made by the population to the governmental employment services.
Citations count: 3
Reference:
Tishko R.V. —
Managing the Market Capital Structure as an Instrument of Equity Financing of a Public Company
// Finance and Management.
– 2018. – ¹ 2.
– P. 51 - 61.
DOI: 10.25136/2409-7802.2018.2.25876 URL: https://en.nbpublish.com/library_read_article.php?id=25876
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Abstract:
Within the framework of the present research, Tishko examines the market mechanism of the relationship between the company value and approaches to managing the market capital structure in Russia. The researcher defines and explains the grounds for essential trends in the business value as a result of approaches that are used to manage the market capital on the stock market. The author gives recommendations and particular strategies that can be used to increase the transparency of the market pricing of emitter's equities through increasing and maintaining a stable high level of the share of freely negotiable equities as well as recommendations regarding securities portfolio building. Within the framework of this research, the author has carried out the qualitative and quantitative analysis (the latter being carried out using the MS Excel application) that demonstrate the dynamics of the aforesaid indicators for the period since 2008 till 2017. The results of this calculation completed with the further empirical analysis of the results conclusively prove that the methods of managing the market capital structure offered by the author of the article are quite applicable to predict both the investment profitability from the side of potential investors and current stockholders, and benefits an emitter may receive from equity financing in the long-term perspective.
Citations count: 2
Reference:
Dolmatova N.G. —
Financial and Legal Means of Budgetary Security as a Form of State Financial Security
// Finance and Management.
– 2016. – ¹ 2.
– P. 103 - 110.
DOI: 10.7256/2409-7802.2016.2.19122 URL: https://en.nbpublish.com/library_read_article.php?id=19122
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Abstract:
The subject of the research is the process, mechanism and system of budgetary security as well as particular threats thereto. Budgetary security is viewed as a form of state financial security. In her research Dolmatova outlines structural elements of the budgetary security system such as actors and legal means of budgetary security as well as the object of budgetary security. The purpose of the research is to analyze doctrinal views on budgetary security, to define gaps and contradictions in the current legislation of the Russian Federation, make suggestions on how to improve legal acts regulating budgetary security, etc. The methodological basis of the research includes general research methods such as systems analysis, dialectical method, analysis and synthesis, inductive and deductive methods, and special research methods such as legislastic and historical methods, referring to other sciences, etc. As a result of the research, the author describes drawbacks in the sphere of legal regulation of budgetary security and application of financial and legal means of social security. The novelty of the research is caused by the fact that the author offers her own definitions of 'budgetary security', 'provision of budgetary security', and 'financial and legal means of budgetary security'. The author of the article concludes that there is a need in legal confirmation of budgetary security as the target of state (municipal) financial control. The author also describes the sytem of budgetary security and gives the list of threats to budgetary security.
Citations count: 2
Reference:
Ivko D.G. —
Peculiarities of Assessing Russian Companies' Value By Using the Method of Market Multipliers
// Finance and Management.
– 2017. – ¹ 1.
– P. 34 - 46.
DOI: 10.7256/2409-7802.2017.1.22087 URL: https://en.nbpublish.com/library_read_article.php?id=22087
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Abstract:
The present article is devoted to particularities of using the method of market multipliers in the process of assessing the company value based on the example of gas and oil companies in the Russian Federation. The author analyzes opportunities and reasonability of applying market multipliers to assessing the value of peer companies and describes minuses and pluses of this method. The author has discovered the relationship between volatility of common-stock value and volatility of price multipliers (P/E, P/B), and has analyzed the force and orientation of these relations. Based on the results of the research, the author evaluates the opportunity and reasonability of applying multipliers of peer companies in the process of assessing the value of gas and oil companies in the Russian Federation based on the results of the period since 2006 till 2015. According to the author, it is reasonable to apply the peer company multiplier method to the gas and oil sector of the Russian Federation in order to carry out a fast assessment of a company's value or to prove the value of a company assessed by other methods (cost and profit methods). On the basis of the determination ratio obtained, the author concludes that volatility of common-stock value depends on the volatility of price multipliers of gas and oil companies in the Russian Federation. The author has conducted a financial study using economic comparison and calculation of statistical and econometric values (correlation ratio and determination ratio). The purpose of the research was to study particularities of using the market multiplier method in the process of assessing Russian companies' value based on the example of gas and oil companies of the Russian Federation, in particular, the relationship between volatility of price multipliers value and volatility of common-stock value in the sphere of gas and oil sector of the Russian Federation for the period since 2006 till 2015. P/E and P/B ratios have been chosen as the main price multipliers under review. Recent researches allowed to discover the relationship between price multipliers and volatility of common-stock value on the European market. These conclusions formed the basis for further and more in-depth analysis of the relationship between volatility of price multipliers value and volatility of common-stock value for gas and oil companies of the Russian Federation covered by the present article. The method of multipliers is quite easy- and fast-to-use and therefore can be successfully used to assess a company's value. Many practical assessors apply this method. Quite often they make calculations using multipliers when there is no time or enough information but, as the results of the research show, this can create wrong assessments. The author proves that it is however possible to apply the multipliers method to assessing the value of gas and oil companies of the Russian Federation. The author also proves that it is possible to apply volatility of price multipliers to creating a forecasting model predicting volatility of common-stock value of companies performing in the sphere of gas and oil sector of the Russian market. The author of the article emphasizes the risk of using the above mentioned method due to the fact that this method provides results of high volatility values and absolute and relative indicators for both multipliers and common-stock. The author continues this research in other sectors as well. For example, the author plans to cover up to 10 different sectors of the Russian Federation economy including metallurgy, mechanic engineering, petro-chemistry, power engineering, banking, telecommunication, consumer sector, etc. This will allow to better understand the opportunity to apply the method of multipliers to assessing common-stock value on the Russian Federation market. Even now it is already obvious that the situation has been rather contradictory over the studied period. The author plans to publish the results of researches in other sectors in the nearest future.
Citations count: 2
Reference:
Chudinovskikh M.V., Kuvaeva Y.V. —
Regulation of the model types of crowdfunding: China's experience and its applicability in Russia
// Finance and Management.
– 2021. – ¹ 2.
– P. 15 - 28.
DOI: 10.25136/2409-7802.2021.2.34030 URL: https://en.nbpublish.com/library_read_article.php?id=34030
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Abstract:
This article is dedicated to assessment of the experience of regulation of crowdfunding market in China, as well as its applicability and adaptation in Russia. The key goal consists in conducting a comparative analysis of the approaches towards regulation of crowdfunding in China and Russia. The relevance is define by enactment of the law of August 2, 2019. N.259-FZ “On Attraction of Investments via Investment Platforms and On Introducing Amendments to Separate Legislative Acts of the Russian Federation”. The research is based on the international and Russian statistical data, conceptual reports of the International Organization of Securities Commissions (IOSCO), Cambridge Center for Alternative Finance, and the Bank of Russia. The conclusion is made that it is China that China holds the leading position in the world crowdfunding market. Most widespread in China is Peer-to-peer (P2P) lending via digital platforms. The absence of special regulation led to an investment boom that lasted until 2017, followed by the bankruptcy of a multiple platforms and projects. Strengthening of the state control entailed reduction in alternative financing. The authors formulate recommendations for improving the regulatory approaches towards crowdfunding. The use of RegTech and SupTech technologies is considered as promising direction.
Citations count: 2
Reference:
Stepanov N.S. —
Institutions for the development of the Extended Tumangan Initiative as one of the factors impacting regional economy
// Finance and Management.
– 2021. – ¹ 2.
– P. 75 - 88.
DOI: 10.25136/2409-7802.2021.2.34054 URL: https://en.nbpublish.com/library_read_article.php?id=34054
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Abstract:
The subject of this article is the examination of the institutions development institutions of the Extended Tumangan Initiative and their impact upon regional economy. The relevance of this topic is associated with the fact that the creation of special economic zones, including industrial parks, has a specifically positive effect on economic development and ability of the regions to attract direct foreign investment. The countries of Northeast Asia offer the advantages of high economic complementarity, trustworthy relations that are the foundation for economic cooperation, and the experience of industrial clusterization in form of various entities that ensure optimization of the economic structure, trade flow, stimulation of investment, and strengthening of business ties. The Extended Tumangan Initiative was created specifically for this purpose, which today serves as one of the sources of economic development in the region. The article employs the methods of scientific knowledge, which are substantiated by the research tasks in determining the place and role of the institutions of the development of the Extended Tumangan Initiative; studying the content and peculiarities of assessing the development of this territory and Russia’s participation therein; for substantiating the practical grounds of this initiative as the factor impacting regional economy. Leaning on the analysis of cooperation of the member-states in the initiative, the author highlights the following priority vectors of cooperation within the Extended Tumagan Initiative: facilitation of transboundary trade; development of the system of transport infrastructure and tourism; improvement of the system of logistics and transport systems in the region; expansion of scientific and technological cooperation; solution of environmental problems of the territory; engagement of the territories of the Extended Tumangan Initiative into global economy. The author substantiates the importance of the Extended Tumangan Initiative as the only international platform for coordination of the actions of the regional countries.
Citations count: 2
Reference:
Chkhutiashvili N.V. —
Motivation as a Management Function of a Modern Company
// Finance and Management.
– 2017. – ¹ 1.
– P. 60 - 67.
DOI: 10.7256/2409-7802.2017.1.17624 URL: https://en.nbpublish.com/library_read_article.php?id=17624
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The article is devoted to motivation as a management function of a modern company. Modern motivational personnel management system at each modern organization should be aimed at achieving maximum economic results and developing potential of each employee. The author of the present research article covers issues related to the creation of the modern motivational personnel management system that should be focused on achieving both economic results and developing abilities and skills of each employee. Within the framework of the present research motivation is viewed by the author as a combination of stimula encouraging employees to be committed to their labor activity, i.e. a manager must ensure successful performance of employees by conducting certain organisational activities. Without motivated and skilled employees a company will never be able to create efficient systems of marketing, sales, finances and accounting. Employees' skills and knowledge become the main source of prosperity of any company. Thus, in order to achieve better performance of the company in general and each employee in particular, it is necessary to look for more efficient models of personnel management as well as to create necessary conditions for developing creative abilities and careers of each employee. Employees' knowledge and skills contribute to the profitability of a company. As the main conclusion of the research, the author offers certain measures to improve the motivation of the personnel. These measures allow employees to take their duties as a conscious activity contributing to their self-improvement and professional and career growth. Thus, it is necessary for a company to create the kind of conditions that would allow to create the motivational personnel management system aimed at achieving maximum economic results and developing potentials of each employee.
Citations count: 2
Reference:
Goleva O.I., Shur P.Z. —
Economic assessment of the impact of work environment on life expectancy of the employees
// Finance and Management.
– 2019. – ¹ 4.
– P. 36 - 44.
DOI: 10.25136/2409-7802.2019.4.31393 URL: https://en.nbpublish.com/library_read_article.php?id=31393
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Abstract:
Assessment of the efficiency of health expenses requires an accurate cost estimate. Assessment of the results (effects), reflected in qualitative and natural indexes (health, life expectancy, quality of life) does not permit giving their cost estimate. The subject of this research is the economic assessment of losses from reduction in life expectancy due to harmful and hazardous work conditions. The goal of this work lies in formulation of methodological approaches towards economic assessment of the impact of work environment on life expectancy of the employees. The proposed in the article algorithm of economic assessments relies on accepted in the Russian Federation Methodology of Assessment of Economic Losses Caused by Mortality of the Population. Reduction in life expectancy due to harmful or hazardous work conditions was calculated as the difference in average life expectancy without harmful and hazardous work conditions or with them presents. The indexes mortality rate among men growth proportionally with the increase of length of their employment for subcategories of 3.1 and 3.2; maximal deviation from average life expectancy in the comparison category comprised 8.3 years less for subcategories 3.3 for men; the largest deviation from life expectancy among women is observed under the subcategory 3.1 (6.6 years less). Economic losses from reduction from shortening of life expectancy for men who worked in harmful conditions comprised 136.6 million RUB in GDP (for 98 people), while for women it comprised 20.8 million RUB in GDP (for 14 people).
Citations count: 2
Reference:
Balynin I.V. —
Trade between Russia and Kazakhstan: an evaluation of the current level and forecasts for the future
// Finance and Management.
– 2015. – ¹ 3.
– P. 41 - 58.
DOI: 10.7256/2409-7802.2015.3.15144 URL: https://en.nbpublish.com/library_read_article.php?id=15144
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Abstract:
The subject analyzed in the article is economic cooperation between Russia and Kazakhstan, from the point of view of export and import, in 2004 – 2013.
The author attaches especial attention to cooperation between Russia and Kazakhstan within the framework of the Eurasian Economic Union (an alliance for economic cooperation between Russia, Belarus, Kazakhstan and Armenia), a treaty about the creation of which was signed in May of 2014 in Kazakhstan’s capital Astana.
In his analysis, the author uses both general economic methods (analysis, synthesis, calculation) and special (economical-mathematical and statistical) methods.
The scientific novelty of the article lies in the results achieved from a detailed analysis of mutual trade between Russia and Kazakhstan within a long period of time – from 2004 to 2013. The author also estimates the prospects of the two countries’ social and economic cooperation within the framework of the Eurasian Economic Union.
Citations count: 2
Reference:
Utkin V.V. —
On standardization in the Russian Federation: problems of efficiency of administrative-legal management
// Finance and Management.
– 2015. – ¹ 4.
– P. 18 - 37.
DOI: 10.7256/2409-7802.2015.4.15730 URL: https://en.nbpublish.com/library_read_article.php?id=15730
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Abstract:
The subjects of research are problems of efficiency of the administrative and legal management. The implementation of the Concept of development of national standardization system is possible only with the condition of optimization of public administration. In order to improve administrative-legal regulation in the sphere of standardization in the context of economic integration at the legislative level it is necessary to establish the legal framework for standardization, content needs to be mandatory for Federal, regional authorities, local government, legal entities and individuals, the self-regulatory organizations, business enterprises and organizations irrespective of form of ownership. Were applied scientific (comparison, analysis, synthesis, abstraction, generalization) and specific scientific methods (formal dogmatic, comparative legal studies, etc.). It is concluded that the introduction of the measures proposed by the author of the perfection of administrative-legal regulation will allow to increase the efficiency of state management in the sphere of standardization in the context of economic integration and globalization, will contribute to the formation of the innovative potential and competitiveness of the Russian economy.
Citations count: 2
Reference:
Prygunova M.I., Nikiforova E.G. —
Efficiency of government subsidization of small and medium businesses as a factor of sustainable urban development
// Finance and Management.
– 2019. – ¹ 1.
– P. 19 - 27.
DOI: 10.25136/2409-7802.2019.1.28649 URL: https://en.nbpublish.com/library_read_article.php?id=28649
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Abstract:
The object of this research is the government subsidization of small and medium businesses (SMB) as a factor of sustainable urban development. Under the “green city” and “sustainable city” the authors mean the balanced social, economic, and technical co-development. Moreover, the author present an original matrix for forecasting development of small and medium business in the Republic of Tatarstan until 2020, which allows making effective decisions by the branches of government responsible for development of small and medium-size businesses the region. An assessment is given to the established levels of risks in the activity of small and medium businesses based on probability method, with consideration of forecasting data presented in the official sources: GRP and financing of small and medium businesses in the Republic of Tatarstan. The research allowed concluding that in order to meet the planned targets on increasing the portion of SMB in the GRP with a preset amount of funding, it is necessary to increase the efficiency of measures on subsidization of SMB. The authors believe that it must become the main priority in the measures on subsidization of SMB across not only the region, but its capital Kazan in particular.
Citations count: 2
Reference:
Lebedev V., Avdeeva A., Mamedov T. —
Venture investments as a factor in the development of the Russian economy in a pandemic
// Finance and Management.
– 2022. – ¹ 1.
– P. 47 - 57.
DOI: 10.25136/2409-7802.2022.1.37318 URL: https://en.nbpublish.com/library_read_article.php?id=37318
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Abstract:
The subject of the study is the role of venture investments in the development of the Russian economy during the pandemic. The object of the study is venture investments. The purpose of the study is to identify the role of venture investments in the development of the Russian economy in the context of a pandemic. The global economic crisis caused by the pandemic is forcing investors to look for new sources of financing for the long term. The methodology of the work uses logical generalization, factorial and comparative analysis, grouping method and systematic approach. To determine the role of venture investments in the development of the Russian economy in the conditions of the coronocrisis, an assessment of the current state of venture investment in the country was carried out. The results of the study are to substantiate the importance of the development of the Russian venture capital investment market and the formation of proposals to solve problems related to the insufficient effectiveness of the implementation of venture projects. Based on the research conducted within the framework of the article, it can be concluded that venture investments had a positive impact on the economy during the pandemic, as they became a source of financing for the development of various projects, including e-commerce, which allowed many business entities to continue their activities. It is advisable to create a Venture Fund of the EAEU on the basis of RVC – the state fund of Funds, which is an institute for the development of the Russian Federation, purposefully attracts Russian and foreign investors to priority segments of the Russian economy, promotes the development of new investment instruments of the national venture market.
Citations count: 2
Reference:
Balynin I.V. —
The role of self-taxation of individuals in forming the revenues of local budgets
// Finance and Management.
– 2015. – ¹ 2.
– P. 53 - 62.
DOI: 10.7256/2409-7802.2015.2.14965 URL: https://en.nbpublish.com/library_read_article.php?id=14965
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Abstract:
The subject of the article is self-taxation of individuals as a promising source of income for regional budgets.
The author analyzes theoretical, legal and practical aspects and conditions of use of self-taxation of individuals in the formation of regional budgets in Russia at the present level of the country’s economic development.
Some special attention is attached to local peculiarities of the use of self-taxation in municipalities within Russia.
The methodological basis of the article combines both scientific methods (analysis, synthesis, comparing, measuring) and special ones (economic, mathematical and statistic).
The key conclusion of the article is as follows: in order to solve the existing problems in the regions that form Russia and strengthen the effectiveness of the government’s budget policy, on condition of simplifying and perfecting the current legislation, self-taxation of individuals may become an important and indispensable source of revenues of any municipal structure.
The novelty of the article is that it examines a little-studied issue of using the means of self-taxation of individuals while forming the revenues of municipal structures in Russia.
The practical significance of the results of the study is that they may be used by federal and municipal authorities while making concrete decisions aimed at modernizing the social and economic development, as well as by students and teachers in universities and colleges.
Citations count: 2
Reference:
Ivko D.G. —
Estimating Russian Company Value: Risks Related to Using the Method of Market Multipliers
// Finance and Management.
– 2018. – ¹ 1.
– P. 8 - 22.
DOI: 10.25136/2409-7802.2018.1.25448 URL: https://en.nbpublish.com/library_read_article.php?id=25448
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Abstract:
In his article Ivko analyzes the method of market multipliers in estimating the value of a Russian company. Through his research Ivko gives an answer to the question whether this method is actually beneficial. The research involves the analysis of 46 Russian companies operating in 9 economic sectors. The author also touches upon opportunities and validity of applying multipliers of peer companies, advantages and disadvantages of that method. According to the researcher, there is enough ground to apply the method of peer company multipliers in case we want a fast estimation, or as an additional method to prove the company value that was calculated using other methods (revenue-based or cost-based). Through caculation and evaluation of the correlation coefficient for a number of economic sectors of the Russian Federation, the author defines a relationship between volatility of share price and volatility of price multipliers P/E and P/B and analyzes the force and direction of that relationship. The researcher also provides an evaluation of possibilities and validity of applying multipliers of regional peer companies to evaluating the Russian company values for the period since 2006 till 2016. The results of the research described in this article prove that the peer company method creates serious risks i evaluating the Russian company value which may result in an incorrect and very different from the 'expected by the market' company value. All economic sectors have their own history of development, structure specifics and particularities of price formation. To reduce the risk of using the multiplier method, it is necessary to carry out a preliminary regional analysis of the existing correlation and analyze volatility of share prices and indicators that reflect the results of the company's activity for the period. The calculations may then answer the question whether the multiplier method should be used and to what degree the results can be 'fair' and 'right' for the company.
Citations count: 2
Reference:
Galuzo V.N. —
The Russian Federation Switches from Customs Regime to Customs Procedures
// Finance and Management.
– 2014. – ¹ 4.
– P. 44 - 53.
DOI: 10.7256/2409-7802.2014.4.13980 URL: https://en.nbpublish.com/library_read_article.php?id=13980
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Abstract:
The study examines the regularities related to the movement of goods across the customs border. It is noted that the customs laws (the Customs Code of the Customs Union (CU TC) and the Federal Law of 21 May 2010 "On Customs Regulation in the Russian Federation") unreasonably omitted the term "customs regime". The study points out that one of the results of the customs legislation reform is the transition from customs regimes to customs procedures. The research methods - comparative legal and historical and legal – have permitted the author to come to the following conclusions: the omission of the term "customs regime" from the customs legislation of the Russian Federation appears to be erroneous; the definition of "customs procedure" in subparagraph 26, paragraph 1, Art. 4 C CU TC is not perfect because this notion is actually identified with the legal institution; it is reasonable to retain continuity of the Federal Law of 19 November 2010 "On Customs Regulation in the Russian Federation" with the previous Customs Code of the Russian Federation dated April 25, 2003, as for the use of the term "customs regime" as well as the classification of customs procedures. The author interprets “the customs regime” a set of interconnected customs operations stipulated by customs legislation which are needed to determine a specific legal status of the movement of goods through the customs border.
Citations count: 2
Reference:
Chesnokova L.A., Yashina N.I. —
The Tax Burden in the Russian Federation Agricultural Sector and the Need to Change it
// Finance and Management.
– 2016. – ¹ 2.
– P. 118 - 124.
DOI: 10.7256/2409-7802.2016.2.16993 URL: https://en.nbpublish.com/library_read_article.php?id=16993
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Abstract:
The subject of the research is the tax burden of agricultural producers in the Russian Federation regions. As a result of the import substitution strategy, a Russian agricultural procuder is viewed as the provider of the basic products to the population. Based on different references, today Russian agricultural producers can provide 40% - 65% of the country's level of consumption. In order to avoid possible deficit, it is necessary to expand capacities and volumes of agricultural producers. The level of tax impact plays an important role in the development of this sphere. The purpose of the present resaerch is to define the level of the tax burden for each Russian Federation constituents and define regions with the greater tax burden. In the coruse of the research the authors have applied the methods of statistical and historical analysis of data presented on the website of the Federal Tax Service of the Russian Federation and Federal State Statistics Service of the Russian Federation. The novelty of the research is caused by the fact that the authors divide 83 Russian Federation constituents into 7 groups depending on their level of tax burden. As a result of the research the authors make a conclusion that the greater part of the Russian Federation constituents lie the average level of tax burden on agricultural producers, however, there are 10 Russian regions that suffer from increased tax burden.
Citations count: 1
Reference:
Kuznetsov M.V. —
Government policy tools for managing medium-size business investments
// Finance and Management.
– 2018. – ¹ 4.
– P. 14 - 25.
DOI: 10.25136/2409-7802.2018.4.28599 URL: https://en.nbpublish.com/library_read_article.php?id=28599
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Abstract:
The object of this research is the government investment management strategy. The subject of this research is the classification of government policy tools for managing medium-size business investments. The existing approaches towards determining the government policy tools for managing medium-size business investments, as well as their classifications are examined. In the course of this research, the author analyzes the regulatory framework, scientific insights and policy recommendations of international organizations. The scientific novelty consists in formulation of an original definition of the term “government policy tools for managing medium-size business investments” alongside the development of classification of such measures. The author systematizes the government policy tools for managing medium-size business investments in accordance with the existing measures corresponding to their description.
Citations count: 1
Reference:
Tegetaeva O.R. —
Allocation of Excise Taxes in the Process of Generating Budget Revenues of the Russian Federation Regions
// Finance and Management.
– 2014. – ¹ 1.
– P. 41 - 71.
DOI: 10.7256/2306-4234.2014.1.11500 URL: https://en.nbpublish.com/library_read_article.php?id=11500
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Abstract:
The article is devoted to the mechanism of allocation of excise taxes in the process of generating revenues of different budgets in the Russian Federation, influence of excise tax allocation on indicators of budget revenues as well as efficiency and conformity of excise tax allocation to modern enomic conditions in the Russian Federation. The purpose of the research is to create theoretical and methodological grounds for solving problems related to generation of regional revenues in Russia by applying an efficient model of excise tax allocation between budgets of different levels according to different groups of excise goods for the period of 2004 - 2013. All kinds of techniques, methods and instruments of economic research have been applied in the course of the present research including: methos of observation, comparison, generalization, deduction and induction, absolute and relative values, analysis and synthesis, graphics and tables, economic statistical modelling. The author of the article offers her own model of rational excise tax revenues between budgets of different levels taking into account the factors allowign to regulate consumption of excise goods. The author also views examples of changing standards of excise allocation between different groups throughout 2004 - 2013 and describes their influence on regional budget revenues (the case study of the Republic of North Ossetia - Alania).
Citations count: 1
Reference:
Akopdzhanova M. —
Legal Provision of the Auditing Procedure
// Finance and Management.
– 2014. – ¹ 4.
– P. 1 - 12.
DOI: 10.7256/2409-7802.2014.4.13991 URL: https://en.nbpublish.com/library_read_article.php?id=13991
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Abstract:
The current Russian legislation provides for particular procedures of auditing activities, contains requirements for the effectiveness of these activities and legal mechanisms to ensure their efficiency as well as various types of legal liability for breach of these requirements. The article discusses the specified requirements, in particular bringing the offenders who have committed breach of existing auditing procedure to various types of legal liability; the sanctions of the Criminal Code of the Russian Federation criminalizing the most dangerous to society violations of the law on auditing; the issues of bringing guilty persons to disciplinary and administrative responsibility. The methodological basis of the study includes a set of scientific and special methods of understanding the objective social and legal reality in the investigated area: analysis, synthesis, systematization and generalization, formal logical, statistical and sociological methods. The article studies and analyzes the most important aspects of dispositions of applicable Russian legislation on sanctions in the field of auditing. Also, the study analyzes the current enforcement practices. The findings of the study may be useful to law enforcement authorities when investigating and handling cases of the respective category as well as to students, graduate students, and all those who are interested in jurisprudence.
Citations count: 1
Reference:
Akopdzhanova M. —
On Introduction of Institute of Tax Monitoring into Russian Laws
// Finance and Management.
– 2014. – ¹ 2.
– P. 46 - 52.
DOI: 10.7256/2306-4234.2014.2.13633 URL: https://en.nbpublish.com/library_read_article.php?id=13633
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Abstract:
During the whole period of while the post-soviet taxation system has existed in the Russian Federation (which results in significant tax income from the business operations of commercial business entities), the question of preliminary analysis by business entities of tax risks has become especially important. The taxpayer seeks to determine the tax base as precisely as possible, especially if it is anticipating carrying out complex transactions, purchase of assets or reorganization of business. In order to provide information help and support for the taxpayers in relation to the correct calculation and timely payment of taxes into the budget of the Russian Federation, the institute of tax monitoring has been introduced on the legislative level. The methodological basis of this research is the combination of general scientific and specific methods of research into the objective social and legal reality in the area under study: methods of analysis, synthesis, systematization and generalization, formal logic. The article examines and analysis the most important aspects of application of the legislative rules of the Russian Federation related to tax monitoring.
During the research process, based on the analysis of law, the conditions for entering into the tax monitoring agreement and the positive role and function of such agreement in the operation of a business entity were defined. The conclusions made in this article may be useful for law enforcement authorities, undergraduate and graduate students, and for all those interested in jurisprudence, tax consultancy and tax administration.
Citations count: 1
Reference:
Zemlyanskaya N.I. —
The Budget as a Monetary Fund: Financial and Legal aspects
// Finance and Management.
– 2015. – ¹ 1.
– P. 20 - 33.
DOI: 10.7256/2409-7802.2015.1.13997 URL: https://en.nbpublish.com/library_read_article.php?id=13997
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Abstract. Financing of public interests is performed through spendings from monetary funds of the state, municipalities, public corporations, businesses and other organizations carrying out public functions. The most significant social and economic needs of the society can be covered only by the government. It has adequate financial resources accumulated in the centralized and decentralized monetary funds. A special role in funding is played by the state and local budgets of public legal entities. The method of research is an analysis of the opinions of scientists about the concept and essence of the budget being a major monetary fund of the state. The author comes to the following conclusion: the budget of public legal entity is a monetary fund detached from other property of the state or municipal institution, owned and available at the disposal of the relevant public legal entity; the fund is generated and used in the manner prescribed by the Russian legislation and intended for financial support of the most significant public interests.
Citations count: 1
Reference:
Shemyakina M.S. —
Tax revenues as an element of the Tax Capacity Architectonic
// Finance and Management.
– 2015. – ¹ 1.
– P. 11 - 19.
DOI: 10.7256/2409-7802.2015.1.14531 URL: https://en.nbpublish.com/library_read_article.php?id=14531
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Abstract. The article considers tax revenues as an element of the tax capacity architectonic. The author proposes a 3-way approach to the category of "tax revenues": economic, financial and legal. The work sets out classification criteria for the investigated category as follows: form of appearance: explicit or implicit; type of budget receipts: credited or shortfall receipts; business entity’s territorial level: State, Federal District, region, municipalities; budget level: federal budget, regional budget, regional consolidated budget, local budget. The paper applies general research methods such as analysis, synthesis, induction, deduction, abstraction, formalization, and hierarchical classification method. Special contribution of the author in the area of the tax potential architectonic consists in the fact that the research lays grounds for the category "tax revenues", defines the criteria of its classification as well as establishes conditions enabling the transformation of the tax revenues into tax potential. The material presented in the study could open up new prospects for further research. It will be of interest to those who deal with tax administration
Citations count: 1
Reference:
Pogorelova T. —
Practical aspects of taxation of personnel’s incomes
// Finance and Management.
– 2015. – ¹ 2.
– P. 63 - 80.
DOI: 10.7256/2409-7802.2015.2.14788 URL: https://en.nbpublish.com/library_read_article.php?id=14788
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In the early 1990s, a tax system was introduced in Russia which included a personal income tax and payments into social non-budgetary funds, collected from incomes of employees. From the very beginning, the similarity of the subjects of taxation in the terms of wages and other incomes of the personnel became a linking element between these taxes, which enables to view these payments within the framework of a separate sphere – taxation of the personnel’s incomes that regularly undergoes changes. Large-scale reforms have been carried out in order to ensure the effectiveness of collection of personal income taxes and required premiums. Draft laws concerning an introduction of a progressive scale for personal income taxes and reconsidering some elements of required premiums have been consistently submitted to the Russian Parliament. For an illustration, the mechanisms of calculating the amounts of required premiums and personal income taxes are presented in concrete examples. The author comes to the conclusion that searching for a well-grounded compromise between controlling authorities, on the one side, and tax payers and insurants, on the other, should serve as one of the main criteria in tax planning.
The examined material may be of interest for workers of financial services of business units that have salaried employees, as well as for students of economics as an additional educational material on taxation.
Citations count: 1
Reference:
Knyazheva O.V. —
Contemporary tax policy in Russia and possible trends of its development in 2015 – 2016
// Finance and Management.
– 2015. – ¹ 3.
– P. 25 - 40.
DOI: 10.7256/2409-7802.2015.3.15238 URL: https://en.nbpublish.com/library_read_article.php?id=15238
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Abstract:
The article views Russia’s tax policy in the country’s today’s instable situation in the world’s policy and economy. The author concentrates on Russia’s tax policy in the current year, 2015, and analyzes the major trends in the country’s tax policy within the previous few years. Especial attention is attached to an analysis of possible trends in Russia’s tax policy in 2015 – 2016. The author also tries to estimate “the tax maneuver” within the framework of Russia’s budget for 2015 – 2017.
The author analyzes the main macroeconomic parameters that were assumed as the basis while drafting Russia’s federal budget for 2015 and for the planning period of 2016 – 2017.
The scientific novelty and the actuality of the article is in viewing and analyzing the main articles of Russia’s budget for the current year, 2015, as well as in analyzing the would-be actions planned for 2015 – 2017. The author suggests an estimation of “the tax maneuver”, analyzes the consequences of its implementation, and makes a conclusion about the continuation of Russia’s tax policy at present.
Citations count: 1
Reference:
Akopdzhanova M. —
Determination of the Status of the Joint Stock Company: New Legislation
// Finance and Management.
– 2016. – ¹ 4.
– P. 12 - 17.
DOI: 10.7256/2409-7802.2016.4.15905 URL: https://en.nbpublish.com/library_read_article.php?id=15905
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Abstract:
The subject of this research is to examine the changes made to the current Russian legislation on joint stock companies, legal aspects of its application based on the data of short stories, as well as their role and importance for the regulation of civil turnover, improve the effectiveness of the enforcement of legislation by the participants of economic relations. This article examines the procedure of recognition of the joint stock company as a company having public status, as well as how changes are made to the appropriate status. Based on the characteristics of the status of the recognised rules of alienation of shares and equity securities of the company, convertible into shares. The methodological basis of the study was a set of General scientific and special methods of attainment of objective socio-legal reality in the study area: methods of analysis, synthesis, systematization and generalization, formal-logical method. In the research process were defined function and legal value, legal consequences of the change of status of a legal entity (joint stock company). In this article attention is also paid to consideration of the types of legal liability, occurring in case of violation of the order of the activities of joint-stock company.The conclusions of this article can be useful for law enforcement agencies, students, graduate students, and all those interested in jurisprudence.
Citations count: 1
Reference:
Lukashova I. —
Comparative Analysis of Property Tax in the Countries of Central Asia
// Finance and Management.
– 2016. – ¹ 2.
– P. 1 - 21.
DOI: 10.7256/2409-7802.2016.2.17578 URL: https://en.nbpublish.com/library_read_article.php?id=17578
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Abstract:
Having gained their independency, Central Asian CIS countries faced the need to develop their own taxation systems. Property tax is one of the new taxes which development and implementation has been accompanied with political, social and technical problems. The present article continues the series of researches devoted to the comparative analysis of the main components of property tax in the countries of the former Soviet Union. Criteria for the comparison anaysis included the basic principles of taxation specified and completed by the author for property tax. The methodology of the research is based on the analysis of effective legislative documents regulating the development and administration of property tax in the countries of the Central Asia as well as the summary and systematization of the results. The main result of the research is the description of differences in the methods of taxation of property in the countries of Central Asia and the levels of conformity of methods used in these coutnries to the basic and complementary principles of property taxation offered by the author. In addition, the author also describes directions for improving methods of property taxation in the aforesaid countries.
Citations count: 1
Reference:
Petrushina L.O. —
The Information Support of the Business Investment Attractiveness Economic Analysis
// Finance and Management.
– 2016. – ¹ 4.
– P. 52 - 66.
DOI: 10.7256/2409-7802.2016.4.20657 URL: https://en.nbpublish.com/library_read_article.php?id=20657
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Abstract:
The research aims on the identification and removing the disadvantages of modern treat-ments to forming the relevant information support of the business investment attractiveness eco-nomic analysis. The validity and the exhaustiveness of the data that is valuated have the great im-pact on the managerial decision making process quality inside the organization and on the risk level that investors outside have. The economic conditions are rapidly changing, creating new tasks and new tools that causes the accounting, collecting and processing of information adaptation to new requirements. The text highlights the main problems of the relevant information support of the business investment attractiveness economic analysis forming including the actuality of Russian accounting statements, their exhaustiveness for describing non-quantitative characteristics of the business examined, factors and risks determining the organization development, which could be important for the investment decision making process. To improve the information support of the business investment attractiveness economic analysis is possible by means of using the IFRS or the transition to reporting on sustainable development. Such forms of reporting have the more clarity, expose the qualitative business characteristics, and involve the information about determining fac-tors and risks. The research results are in the sphere of the great number of users interest. It could be the financial departments workers, the business head, top-managers, creditors, investors, and also the employees of the state Supervisory bodies. Considering the external conditions instability, new treatments to forming the information support of the business investment attractiveness valuation promote the decreasing of the risk level connected with the investment choice, the growth of trust among the investment process parties, the investment inflow, including the foreign investing, the economy stabilization.
Citations count: 1
Reference:
Mitrovic S. —
Issues and trends in implementation of business intellect into the process of economic analysis in Russia and abroad
// Finance and Management.
– 2019. – ¹ 2.
– P. 1 - 16.
DOI: 10.25136/2409-7802.2019.2.28524 URL: https://en.nbpublish.com/library_read_article.php?id=28524
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Abstract:
The subject of this research is the issues and tents in integration of business intellect (BI) technologies as the organizational-technical and economic category of economic activity of the corporations in the conditions of advancements of the modern information society and economic space of the Russian Federation. The goal of this work lies in systematization and analysis of the aspects of international practice that should be given particular attention by the national organizations and enterprises of various types in the course of implementation of business intellect technologies, as they have a longer experience in this field. Leaning on the foreign experience and Russian sources, the author formulates the content and structure of spending tree for integration of business analysis solutions into the economic analysis of the development of modern organizations, which may be viewed as a generic source to calculate expenses for further expanding, considering the peculiarities of the activity of particular corporation, and its sectoral specifics. The author conducts defragmentation of specifics of expenses with regards to implementation of corporate and basic solutions in the area of BI; determines recommendations for various economic entities, including the small and medium business segment for the purpose of financial saving. Speaking of the possible adaptation of foreign practice, the author turns attention to the need for considering both, material and immaterial nature of the effect of implementation of business intellect technologies. The article also examines the strategy of role identification of specialists in realization of economic analysis using BI.
Citations count: 1
Reference:
Talalaeva N.S., Murav'eva N.N. —
Assessment of the impact of the financial and economic factors of macro environment upon the efficiency of financial management in small and medium businesses of Volgograd Region
// Finance and Management.
– 2019. – ¹ 2.
– P. 43 - 55.
DOI: 10.25136/2409-7802.2019.2.29698 URL: https://en.nbpublish.com/library_read_article.php?id=29698
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Abstract:
The object of this research is the financial management in small and medium businesses (SMB). The subject of this research is the process of assessing the impact of financial and economic factors of macro environment of small and medium businesses of Volgograd Region upon the performance and efficiency of their financial management. As quantifiable key factors influencing financial situation, development and financial management of small and medium businesses, the author selected the factors of the financial and economic block: inflation rate, interest margin and personal income, volume of state incentives. The resultant indexes of the efficiency of financial management became the individual financial indicators. The authors establish the statistically important strong impact of inflation, shift in short-term interest rates for loans allocated to SMB actors, and average personal income of the population of Volgograd Region upon the efficiency of financial management of small and medium businesses of the region. The authors determine the weak impact of the federal and regional incentives for the development of SMB upon the performance of financial management. Systemic approach toward assessment of financial management allows the entrepreneurs to increase the efficiency level considering the opportunities and risks of macro environment.
Citations count: 1
Reference:
Popova E.M., Guseinova G.M. —
Improvement of methodological base on identification of tax expenditures
// Finance and Management.
– 2020. – ¹ 1.
– P. 23 - 37.
DOI: 10.25136/2409-7802.2020.1.32345 URL: https://en.nbpublish.com/library_read_article.php?id=32345
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Abstract:
The concept of tax expenditure is gradually being implemented into the budget process in the Russian Federation, which justifies the relevance of this research. Russia uses the legislative approach towards identification of tax spending, which has a weak theoretical-methodological base. There is currently no precise criterion for allocation of tax expenditures, while the definition formulated by the Article 6 of the Budgetary Code of the Russian Federation further complicates their identification. Thus, there is an objective need for development of more comprehensive approach towards identification of tax expenditures from the theoretical perspective. The study of foreign practice allowed concluding that qualification of the tax norm, as a tax expenditure is a rather debatable question. The novelty and scientific-practical importance of the conducted research consists in the proposed interpretation of tax expenditures and tax incentives, which reflects their main attribute consisting in divergence from the fundamental principles of taxation, and ensures accord with the concepts used in the budgetary legislation. The authors develop an algorithm for identifying tax expenditures, based on solution of the task on determination of adherence of the content of tax norm to the key elements of the mechanism of functionality of a tax incentive.
Citations count: 1
Reference:
Zubova Y.A. —
Socioeconomic determinants of the current Russian crime rate
// Finance and Management.
– 2021. – ¹ 2.
– P. 63 - 74.
DOI: 10.25136/2409-7802.2021.2.34458 URL: https://en.nbpublish.com/library_read_article.php?id=34458
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Abstract:
The subject of this research is the socioeconomic determination of the current Russian crime rate. The goal consists in revealing the socioeconomic factors that have a statistically significant impact upon the crime rate in the country, discern the degree and nature of interdependence between these factors and the crime rate, as well as rank these factors by their importance. Methodological framework is comprised of the method of materialistic dialectics, which is a universal method of cognition of reality, and the arising from it private scientific methods, such as correlation-regression and factor analysis, implemented in the software package IBM SPSS Statistics. It is established that such socioeconomic factor as life expectancy at birth has most considerable impact upon the crime rate in the country. At the same time, interrelation between this factor and the crime rate is the other way around – the higher is life expectancy (its quality and population well-being), the lower is the crime rate. Crime rate is also substantially affected by the set of factors that determine density of the population, relative level of income, education, culture, and essential problems faced by the citizens throughout life – unemployment, inflation, poverty, etc.
Citations count: 1
Reference:
Pozdnyakov K.K. —
Budget funds for financing investments in innovative development of the region (on the example of the Central Black Earth Region)
// Finance and Management.
– 2021. – ¹ 3.
– P. 1 - 15.
DOI: 10.25136/2409-7802.2021.3.36260 URL: https://en.nbpublish.com/library_read_article.php?id=36260
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Abstract:
The strategic factor for economic growth of the Russian regions is the activation of innovative processes. The problem of increasing innovative activity has been particularly acute in recent years due to the unfolding crisis and extended restrictions on the budget expenditures. The goal of this article consists in the analysis of indicators of innovative activity, and assessment of the impact of budget investments in fixed capital upon the indicators of innovative process in the Central Black Earth Region. The analysis employs the available statistical data on financing of investment processes and results of innovative activity in the Russian Federation, Central Federal District, and Central Black Earth Region. The research relies on the system approach, economic-statistical, logical and expert methods of analysis. The conducted analysis reveals the insufficient level of innovative development in all six zones of the Central Black Earth Region. The innovative processes in the Central Black Earth Region are characterized by low output of innovative products and investment in research and development. The dynamics of innovative processes in the region is of differential nature. There are substantial interregional differences in the indicator values of the expenditures for research and development, and innovation activity, as well as the volatility of indicators of production of innovative goods and services. The clear outsider in the Central Black Earth Region in the Oryol Oblast. The author formulates recommendations that can be used by the authorities of the constituent entities of the Russian Federation in elaboration of state support measures for innovative activity in the Central Black Earth Region aimed at acceleration of their economic development.
Citations count: 1
Reference:
Zavrazhskii A.V. —
The analysis of Russian and foreign experience of professional liability insurance for healthcare providers
// Finance and Management.
– 2019. – ¹ 1.
– P. 79 - 90.
DOI: 10.25136/2409-7802.2019.1.28923 URL: https://en.nbpublish.com/library_read_article.php?id=28923
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Abstract:
The goal of this work is the examination of practical experience of insurance use form protecting national and foreign healthcare providers from professional liability risks. The subject of this research is the types, methods and terms of professional liability insurance of healthcare providers in Russia and abroad. Despite the heightened risk of liability in the conditions of insufficient funding, the national clinics are reluctant to use insurance products for protecting their interests. At the same time, in the economically developed countries, purchasing insurance is one of the intrinsic attributes of healthcare activity; a direct role in this regard is played mutual insurance companies and specialized healthcare associations. In the course of this research, the author analyzes the main types of professional liability insurance – tort liability insurance and no-fault liability insurance. The article reviews the national legislative acts applicable to possibility of healthcare liability insurance, as well as determines a number of regulatory discrepancies and contradictions that impede proliferation of healthcare insurance coverage. The research results define the key merits and demerits of the use of models of commercial and mutual insurance for covering the indicated risks. The author’s special contribution consists in the analysis of foreign experience of healthcare liability insurance, considering statistical indicators, key actors, obstacles and development prospect of the Russian market of healthcare liability insurance.
Citations count: 1
Reference:
Dvoretskii V. —
Legal status of the “Alaska Permanent Fund”: general characteristics
// Finance and Management.
– 2019. – ¹ 1.
– P. 10 - 18.
DOI: 10.25136/2409-7802.2019.1.29222 URL: https://en.nbpublish.com/library_read_article.php?id=29222
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Abstract:
This article is dedicated to the examination of peculiarities of legal status of the “Alaska Permanent Fund”, which is one of the largest and financially successful state-owned investment and wealth funds worldwide (sovereign wealth). Attention is given to the history of creation of the “Alaska Permanent Fund”; analysis of regulatory framework of its structure and competencies of executive authorities; examination of the peculiarities of investment policy of the fund and approaches towards the establishment of its investment portfolio; as well as the protective, it its essence, practice of investments into the assets and securities of the United States. The conclusion is made that the practical experience of the “Alaska Permanent Fund” can be partially applied by the Russian state-owned investment and wealth funds (particularly, the “Russian National Wealth Fund”), excluding the financing practices at the expense of the fund of such individual payouts to the citizens as dividends, unconditional basic income, benefits, etc. The scientific novelty consists in the use of regulatory material relevant for the period from 2018-2019, which allows making conclusions based on the most recent foreign practices and management procedures of the state-owned investment and wealth funds.
Citations count: 1
Reference:
Fedoseeva K. —
On the issue of imposing restrictions on budgetary (autonomous) institutions that carry out purchases in order to fulfill state (municipal) tasks
// Finance and Management.
– 2020. – ¹ 4.
– P. 14 - 23.
DOI: 10.25136/2409-7802.2020.4.34612 URL: https://en.nbpublish.com/library_read_article.php?id=34612
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Abstract:
The subject of the research in this article is the restrictions provided for by the draft law submitted to the State Duma of the Russian Federation in relation to budgetary (autonomous) institutions engaged in procurement for the purpose of fulfilling state (municipal) tasks. The purpose of the study is to analyze these restrictions in the context of the reform carried out in relation to budgetary (autonomous) institutions aimed at increasing their economic independence. The article makes a scientific assessment of the legal possibilities of attracting co-executors for state and non-state organizations in the process of rendering state (municipal) services in connection with the adoption of Federal Law No. 189-FZ of July 13, 2020 "On State (Municipal) social order for the provision of state (municipal) services in the social sphere". The issue of the organization of law enforcement in the studied area, namely the use of the budget classification tool of the Russian Federation and other methods of identification of purchases, is considered. The author used such methods as comparison, generalization, system analysis, modeling and deduction. Â A special contribution of the author to the study of this topic is the formulation of general criteria that would enable institutions to attract performers (contractors) to perform works (provide services) in order to fulfill a state (municipal) task if the draft law under consideration is adopted. The main conclusion of this study is the need to bring to uniformity the regulatory regulation of the right to conduct procurement for the provision of public (municipal) services by both public and private organizations. This is due to the introduction of budgetary (autonomous) institutions into the competitive market along with other non-governmental organizations and giving them a certain economic freedom as a result of the initiated reform.
Citations count: 1
Reference:
Samygin D.Y., Baryshnikov N.G. —
Modernization of the Budgetary Subsidy Support of the Agricultural Sector
// Finance and Management.
– 2014. – ¹ 1.
– P. 72 - 77.
DOI: 10.7256/2306-4234.2014.1.13362 URL: https://en.nbpublish.com/library_read_article.php?id=13362
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Abstract:
Efficient development and economic growth of agricultural sectors in developed countries are a result of the implementation of hightech research projects. The USA and EU countries pay much attention to their innovation-based development of agriculture and provide significant state support thereto. Russia is busy solving social and economic problems of their agricultural sphere and therefore the aforesaid issues are rarely mentioned in legal and regulatory acts despite a declared priority of the agricultural sector. As a consequence, the questions of profitability and necessity of investments into modernization of the agricultural sector are becoming important like never before. The authors of the present article have applied the monographic research, analysis of the structure and dynamics, expert evaluation method, survey, economic analysis, statistical and econometric analysis. They have also performed the analysis of the modern methods of budgetary subsidy support of the agricultural sector taking into account the effective rules of the world trade as established by the World Trade Organization. The authors analyze the issues arisign when the public funds are refocused on the aforesaid methods of supporting the agricultural sector from the point of view of efficiency of these methods and prove the importance and the need for budgetary support of biotechnological production projects.
Citations count: 1
Reference:
Vasil'eva I.S. —
Economic Approaches to Assessing Health Care Costs
// Finance and Management.
– 2016. – ¹ 1.
– P. 91 - 99.
DOI: 10.7256/2409-7802.2016.1.15634 URL: https://en.nbpublish.com/library_read_article.php?id=15634
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The object of research is the system of health care financing in the Russian Federation. The subject of the study is organizational and economic relations arising in the process of ensuring the financial health. Particular attention is paid to the analysis of the relationship between the level of public health and the economy of the state, considering it in two basic aspects (the impact of the health of citizens and the health care system on the welfare of the population and the economy, the impact of economic development of society on health and health care). In the process of learning and processing materials for the research results the following economic research methods were used: the abstract-logical method of expert assessments, elements of structure-function analysis and statistical and mathematical methods. Based on the results of the study the authors concluded that under current conditions the term "health care system" farther away from the framework defined by the concept of "the system of diagnosis and treatment." Currently topical health problems include development of healthy lifestyle, comfortable environment and creating conditions for effective work and leisure that will prevent the development of diseases, especially those that cause premature death and disability of the population. At the same time, the private health care system is actively developing. This is the system created by legal entities and individual health care organizations, pharmaceutical organizations and other organizations active in the field of health care.
Citations count: 1
Reference:
Arzumanova L.L. —
The Concept of Money in Finance Law
// Finance and Management.
– 2016. – ¹ 1.
– P. 51 - 71.
DOI: 10.7256/2409-7802.2016.1.16162 URL: https://en.nbpublish.com/library_read_article.php?id=16162
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Abstract:
The subject of the present research article is the questions related to the legal and financial nature of money. To start with, the author underlines that the concept of money has been studied in economics and civil jurisprudence. In the course of studying the money concept, the author analyzes the basic provisions of the Civil Code of the Russian Federation, doctrinal positions of the leading specialists in the spheres of finance law and banking law and money as the legal financial category. The author of the article offers her own definition of money as an information carrier enshrined in statutory and regulatory enactments. Based on the latter, money acquires the paying function. The research methods used by the author include historical, analytical and empirical methods. In her research Arzumanova studies views and positions of different authors. The novelty of the research is caused by the fact that the author offers her own approach and definition of money from the point of view of finance law provisions. In particular, she defines money as the category of finance law, i.e. information carrier (monetary, papery, electronic, etc.) fixed in legal laws and regulations which gives it the paying power, the latter being expressed in the number of monetary units stated on money and revealing its function to carry information.
Citations count: 1
Reference:
Korobko K.I. —
Profit of medical organization from conducting medical activity: axiom or a reason for discussion?
// Finance and Management.
– 2021. – ¹ 1.
– P. 49 - 59.
DOI: 10.25136/2409-7802.2021.1.34891 URL: https://en.nbpublish.com/library_read_article.php?id=34891
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This article examines such mandatory element and special purpose of entrepreneurial activity as gaining profit applicable to medical activity. The author analyzes medical activity in terms of gaining profit based on the legislatively consolidated sources of funding in the sphere of health promotion, which are united into three groups: funds from budgets of all levels, funds from mandatory medical insurance and funds from organizations and citizens, funds received from private and legal entities, including voluntary donations, and other sources that are not prohibited by the legislation of the Russian Federation. The article employs the general and private scientific methods, such as formal legal, analytical, systemic, statistical, and economic analysis. The scientific novelty of this research consists in the following conclusions: that profit from conducting medical activity can be acquired within the framework of rendering paid medical services; the prices (tariffs) for medical services provided within the framework of compulsory health insurance and budget funding do not imply profit. The author advances an opinion that the model of funding in the sphere of protection of public health is substantiated by the social orientation of the activity of the state towards maintenance and promotion of health of its citizens.
Citations count: 1
Reference:
Stepanov N.S. —
Prospects for the Development of the Great Tumangan Initiative (GTI) in the New Geopolitical Reality
// Finance and Management.
– 2022. – ¹ 4.
– P. 34 - 41.
DOI: 10.25136/2409-7802.2022.4.39018 EDN: LXCOBU URL: https://en.nbpublish.com/library_read_article.php?id=39018
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The subject of the study is the process of East Asian regionalism, considered in the context of the development of the Great Tumangan Initiative. The proposed goal is to characterize, analyze and evaluate the impact of the new geopolitical reality on the prospects for integration processes in Northeast Asia. The main research methods used in the study are a literature review on the topic and a descriptive method. As a result of the work, the following can be distinguished: analysis of geopolitical factors affecting the integration processes in Northeast Asia; the features of the development of the Great Tumangan Initiative are determined and the main problems limiting the effectiveness of this initiative are identified. The scientific novelty lies in the substantiation of the priority directions for the development of the untapped potential of the Great Tumangan Initiative: improvement of institutional support; the need to cooperate simultaneously at four levels: regional, local, multilateral and bilateral. It is concluded that the achievement of regional connectivity is the main priority in the development of regional cooperation and economic integration in Northeast Asia.
Citations count: 1
Reference:
Nikitkova U.O. —
The past and present of Land Value Taxation in Russia
// Finance and Management.
– 2013. – ¹ 1.
– P. 1 - 16.
DOI: 10.7256/2306-4234.2013.1.548 URL: https://en.nbpublish.com/library_read_article.php?id=548
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Abstract:
Currently, land value tax is one of the primary sources of income for local budgets. As far as the full amount of municipal income is concerned, however, this tax plays a comparatively small role.The unused revenue potential and numerous unsolved issues in land taxation have historical roots. During the entire development process of Russian tax system, land value tax was often left underappreciated.This article deals with the development of Russian land value tax system, analyzes current challenges of land taxation, and presents ways of overcoming them, aiming to clarifying the land tax base, increasing local budget income, resulting in increase of self-sufficiency and raising the efficiency of social and economic development municipalities.
Citations count: 1
Reference:
Makarova M.V. —
Leading Scientific Associate, Center for Research of State Administration Issues of the Institute of Economics of the Russian Academy of Sciences
// Finance and Management.
– 2019. – ¹ 2.
– P. 105 - 117.
DOI: 10.25136/2409-7802.2019.2.25750 URL: https://en.nbpublish.com/library_read_article.php?id=25750
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The subject of this research the current and upcoming trends of state policy aimed at support of small and medium businesses. The author reviews the new institutional formations. Small and medium business is the backbone for country’s strong economy. The goal is to answer the question of how effective is the state support of small and medium business in this regard. The object of this research is the state policy of the Russian Federation for supporting small and medium businesses (SMB). Namely the small and medium businesses as the basics of formation of the larger innovation structures. The author concludes that state financial backing of the subjects of SMB is based on subsidized loans aimed at increasing operation and investment capitals, as well as providing guarantees and suretyship by specially formed federal and regional institutions. The results obtained from the analysis of organizational block demonstrate the following: state support of the subjects of SMB is aimed at the sectors with prevailing policy of import substitution; electronic sources, offered by various government resources, require additional revision and testing, with consideration the opinion of potential entrepreneurs; expansion of educational capacity in the area of financial literacy, basis of entrepreneurship, along with teaching online services in educational establishments.
Citations count: 1
Reference:
Dorokhov E.V. —
Research of Manipulation of Stock Assets on the Example of Shares of American High-Tech Companies of the Nasdaq Stock Exchange
// Finance and Management.
– 2023. – ¹ 1.
– P. 50 - 68.
DOI: 10.25136/2409-7802.2023.1.37548 EDN: WBBLRZ URL: https://en.nbpublish.com/library_read_article.php?id=37548
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Abstract:
The subject of the study is the processes of manipulation of stock asset prices on the example of shares of American high-tech companies of the NASDAQ exchange. The concept of manipulation of stock assets is formulated and the signs of manipulation of them are presented. The main purpose of the work is to identify signs of manipulation of the stock prices of Facebook, Nasdaq and Google companies from the moment of the initial public offering of the company's shares on the stock exchange (IPO) to the present. The methodology of the study includes statistical methods of data analysis: comparative analysis, correlation and regression analysis. Based on the annual quotes and financial reports of Facebook, Google and Nasdaq, a comparative and correlation analysis of the annual values of investment multipliers is carried out. Particular attention is paid to the comparative and statistical analysis of the data of these companies at the initial time stage after their IPO on the NASDAQ exchange. The result of the analysis showed a fairly strong correlation between them on this indicator. At the same time, a significant overvaluation of Facebook shares was established in the first years after its initial public offering on the stock exchange, in relation to the analog companies of Google and Nasdaq, as well as to the companies listed on the S&P500 stock market of the USA. The scientific novelty of the study lies in the fact that the presented methodology allows identifying signs of manipulation with the share prices of companies-analogues of any sufficiently liquid stock market. The topic of the article is of interest to stock market participants, stock analysts, potential investors and purchasers of companies, as well as to stock market regulators dealing with the reliability and security of its processes.
Citations count: 1
Reference:
Mamedov M.A., Mamedov T.F. —
Formation and development of digital ecosystems based on technological and telecommunication companies in Russia
// Finance and Management.
– 2022. – ¹ 3.
– P. 1 - 19.
DOI: 10.25136/2409-7802.2022.3.38053 EDN: LSPZQN URL: https://en.nbpublish.com/library_read_article.php?id=38053
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The process of active digitalization plays an important role in solving a number of urgent tasks, and, in particular, in the field of finance. Together with the development of innovative information technologies and their implementation in all spheres of the economy, multiple optimization of the processes of rendering services, significant changes are observed not only in the types and methods of providing services, but also in general transformation of business models of operating economic entities. The object of research of this article is digital ecosystems based on technological and telecommunication companies. The subject of the research is the principles and models of functioning of digital ecosystems based on technological and telecommunication companies. The relevance of this study lies in the fact that in the conditions of universal digitalization, the boundaries of the services provided by the largest market participants are not only blurred, but their business models are also changing significantly. Within the framework of this study, the authors have revealed approaches to the definition of the concept of ecosystem. The analysis of the largest Russian digital ecosystems based on technology and telecommunications companies, and, in particular, their financial services, is carried out. The analysis was carried out on the basis of such digital ecosystems and their financial services as Yandex, VK Group and MTS. Conclusions are drawn based on the analyzed data and the author's forecasts about the further development of financial services of digital ecosystems based on technological and telecommunications companies are given.
Citations count: 1
Reference:
Ruban A.A., Krivopuskova A.V., Kleimenov D.S. —
Analysis of the Effects of Including Bitcoin in Investment Portfolios
// Finance and Management.
– 2022. – ¹ 3.
– P. 61 - 78.
DOI: 10.25136/2409-7802.2022.3.38766 EDN: KDCRNQ URL: https://en.nbpublish.com/library_read_article.php?id=38766
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Abstract:
Currently, the popularity of cryptocurrencies as an investment asset is growing, bitcoin is the most attractive among them, since it is the oldest instrument in this market. In this paper, the authors examined the advantages and disadvantages of the cryptocurrency in question, the history of its creation. The analysis of the effectiveness of the inclusion of the digital asset in question into the structure of an investment portfolio consisting of assets of various classes was carried out using the Harry Markowitz portfolio theory. The relevance of the chosen topic is confirmed due to the popularity of digital assets in modern conditions. The existing gaps in the legal regulation of their turnover are gradually being filled, and institutional investors are increasingly investing in the purchase of cryptocurrencies. The results of the study indicate a significant increase in the profitability of the investment portfolio after the addition of bitcoin, which can in some proportion become an effective substitute for investments in the stock market of American companies. The analysis revealed a high degree of mutual correlation between the dynamics of the bitcoin price and the S&P 500 index. The construction of the regression equation and the calculation of the determination coefficient give reason to believe that the dynamics of the S&P 500 index by 92.25% correlate with fluctuations of the price of bitcoin, which is due, apparently, to the attractiveness of the new and tempting investors with the profitability of the cryptocurrency market. The results obtained, on the one hand, indicate the possibility of using technical and fundamental analysis tools to work with crypto assets, on the other hand, the convergence of the behavior of this type of asset with changes in traditional market benchmarks.
Citations count: 1
Reference:
Litvinov E.O. —
The Loan Debt Burden of Russia's Population in Terms of the Crisis
// Finance and Management.
– 2016. – ¹ 3.
– P. 122 - 131.
DOI: 10.7256/2409-7802.2016.3.20529 URL: https://en.nbpublish.com/library_read_article.php?id=20529
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Abstract:
The subject of the research is the processes of creation and quantitative evaluation of individual loanee's credit burden as an important indicator of effective functioning of the country's credit banking system and, at the same time, indicator of recessionary tendencies in its development. Global financial crisis, especially in Russia due to the adverse impact of various geopolitical factors, occlusion of external financial sources of the credit activity of Russian commercial banks, decline in income, growth of unemployment and inflation have brought the problem of evaluating the credit burden of the country's population to the fore. The present research is aimed at creating a detailed system of indicators to evaluate the loan debt burden, analysis of scales and dynamics of the credit burden, coming to verifiable conclusions about its development tendencies in Russia, and elimination of negative tendencies in the development of the value of the credit burden at the present stage. The research was carried out using such methods of research as analysis and synthesis, deduction and induction as well as systems', structural, functional, factor, and economic-statistical analysis. The author clarifies the term 'loanee's credit burden' and emphasizes the need to conduct a quantitative evaluation of the loan debt burden as well as offers different approaches to conducting such evaluation. The author also performs the quantitative evaluation of Russian population credit burden over the period of time since 1998 till 2016 and analyzes different scenarios for eliminating gaps and contradictions caused by the development of the population credit burden at the present time. The quantitative evaluation of the credit burden allows to make reasonable conclusions about the dynamics, vector and development tendencies of retail lending, forecasting and prevention of its negative influence on the credit banking system as well as to define the best credit burden which would satisfy interests of all participants of credit relations.
Citations count: 1
Reference:
Steshenko Y.A. —
Present-Time Institutional Constraints of Tax Incentives When the Latter Prevent the Economic Growth
// Finance and Management.
– 2018. – ¹ 2.
– P. 27 - 42.
DOI: 10.25136/2409-7802.2018.2.26520 URL: https://en.nbpublish.com/library_read_article.php?id=26520
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Abstract:
Efficient tax incentives are supposed to contribute to the economic growth in long-term and short-term perspectivbes. In this research Steshenko analyzes institutional constraints of tax incentives, in particular, susceptibility of an economic sector to tax incentives; the fact that tax incentives are constrained by budget losses as a result of falling out tax revenues ('tax expenses'); vertical (sectoral) orientation of tax incentives; competence of tax authorities to evaluate the final results when granting tax benefits. The author in detail describes each constraint from the point of view of the way it affects the economic growth. In the course of his research the author has applied economic statistical, historical logical, comparative and restrospective analysis methods as well as the systems approach to studying economic phenomena and processes. The author makes theoretical provisions about the essense and role of the motivating function of taxes in terms of institutional constraints of tax incentives that prevent the economic growth (susceptibility of an economic sector to tax incentives; the fact that tax incentives are constrained by budget losses as a result of falling out tax revenues ('tax expenses'); vertical (sectoral) orientation of tax incentives; competence of tax authorities to evaluate the final results when granting tax benefits) and makes recommendations regarding adapting of tax incentives to aforesaid constraints for the purpose of boosting the economic growth.
Citations count: 1
Reference:
Kireeva A.V., Komarnitskaya A.N. —
Subsidies as a universal form of government support of companies in the real sector: grounds for provision
// Finance and Management.
– 2020. – ¹ 1.
– P. 72 - 80.
DOI: 10.25136/2409-7802.2020.1.29600 URL: https://en.nbpublish.com/library_read_article.php?id=29600
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Abstract:
The subject of this research is the grounds for providing budget subsidies to the companies of the real sector. Assessment was conducted on the correlation between subsidies given to the real sector for stimulating their development, and subsidies given to the private companies for performing state functions, including in the social sphere. The basis for the analysis consists in data from the laws on federal budget over the recent years, as well as federal targeted investment program and state programs enacted for the purpose of developing separate economic sectors. It is demonstrated that majority of subsidies given to legal entities go to companies carrying out tasks and functions of the government. The subsidies that are given for the purpose of compensating expanses of private companies performing state regulation of prices (tariffs) or rendering budgetary services to the population, are not of incentivizing nature. As a result, the procedures aimed at improving efficiency of budget spending, including selection of recipients on a competition basis, as well as subsequent assessment of efficiency and results of spending of budgetary allocations are not applicable to this category of subsidies. It is also demonstrated that fiscal legislation does not account for differences in grounds for provision of subsidies, which leads to their utilization as a universal instrument for transfer of allocations form public to private sector – alternatives to state tasks, procurement, investments, and lending.
Citations count: 1
Reference:
Lipinsky D.A., Musatkina A.A. —
To the question on the institution of financial legal responsibility in the law system
// Finance and Management.
– 2019. – ¹ 4.
– P. 45 - 69.
DOI: 10.25136/2409-7802.2019.4.30686 URL: https://en.nbpublish.com/library_read_article.php?id=30686
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Abstract:
The object of this research is the social relations regulated and protected by the norms of financial legal responsibility. The subject of this research is the norms of the institution of financial legal responsibility, their functional, genetic, coordination and subordination links; as well as system of the existing scientific views on the institution of financial legal responsibility. The author explores the general features and characteristics of cross-sectoral institution of legal responsibility; substantiates its subject, method and polystructuredness. Based in the general attributes of the institute of legal responsibility, the author determines the characteristics of the institute of financial legal responsibility; analyzes its complex structure comprised of a number of subinstitutions. Various sectoral (internal) and external links of the institution of financial legal responsibility namely with other legal institutions and branches of law are determined. The scientific novelty consists in establishing the presence of two relatively independent legal formations within the national system of law: firstly, sectoral institution of financial legal responsibility; and secondly, cross-sectoral institution of financial legal responsibility. Besides sectoral characteristics of the institution of financial legal responsibility, the author determines cross-sectoral characteristics of the second normative institution. The existence of cross-sectoral institution of financial legal responsibility is substantiated by the presence of certain “points of intersection” within the subject of legal regulation, as well as the general principles, objectives, definitive norms along with coordination, subordination and genetic links. The existence of both, sectoral and cross-sectoral institution of financial legal responsibility is also predetermined by polystructuredness of the system of law itself.
Citations count: 1
Reference:
Ginzburg M., Mitin D. —
The issue of assessing the impact of political risks on financial and economic activities of small and medium enterprises (SME)
// Finance and Management.
– 2015. – ¹ 4.
– P. 83 - 109.
DOI: 10.7256/2409-7802.2015.4.15460 URL: https://en.nbpublish.com/library_read_article.php?id=15460
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Abstract:
This research is dedicated to study of small and medium business representatives attitude towards the issue of taking into account political risks in their financial and economic activities. The authors formulated and tested the hypothesis, that entrepreneurs in different regions of Russia are indifferent towards political risks, as they continue to operate in conditions of political and economic risks, not trying to minimize them. At the same time, the entrepreneurs, who were questioned, connect the change of economic status of small and medium business in the country with external and internal political situation in Russia to a small degree.The authors chose analytical method as this particular research method, as well as a method of individual interviews with the owners and managing employees of small and medium enterprises. In the course of these interviews, the interview subjects were asked about their attitude towards the degree of security of small and medium enterprises in Russia, investments and savings effectiveness, small and medium entrepreneurship State support, political risks magnitude, as well as the changes, that took place since the beginning of this research.The authors received the following results: representatives of small and medium enterprises in Russian regions do not consider political risks sufficient enough for them to be taken into account in their financial and economic activities.Representatives of small and medium businesses are inclined to take risks, they are also patriotic, although some of them do not support the political course, taken by the leaders of the country. They are quite conservative, connected to the place of their residence, they plan to continue to be involved with their current businesses in the region, despite the high level of economic and political risks and corruption. At the same time the representatives of small and medium sized businesses of Russian regions connect the change in economic situation in the country with the current political situation only to a small degree.
Citations count: 1
Reference:
Galeev R.R. —
The invalidity of major transactions and transactions in which there is interest exists
// Finance and Management.
– 2015. – ¹ 4.
– P. 110 - 121.
DOI: 10.7256/2409-7802.2015.4.15715 URL: https://en.nbpublish.com/library_read_article.php?id=15715
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Abstract:
The subject of research is the invalidity of major transactions and transactions in which the interest exists. Related-party transactions may be declared invalid if they are committed with violation of article 83 of the Federal law "On joint stock companies". The Russian constitutional Court and the Supreme Court of the Russian Federation in order to promote uniformity of law-application of the norms of the civil legislation on the recognition of major transactions invalid emanate primarily from the protection of civil rights and legitimate interests of participants of economic societies. Were applied scientific (comparison, analysis, synthesis, abstraction, generalization) and specific scientific methods (formal dogmatic, comparative legal studies, etc.). During the study the author comes to the conclusion that in connection with the innovations of the civil legislation of joint stock companies on major transactions will substantially change the legal practices, including the recognition of transactions negative enforcement and transactions in which the interest exists.
Citations count: 1
Reference:
Ponkin I.V. —
Uncertainties in public management
// Finance and Management.
– 2015. – ¹ 3.
– P. 1 - 10.
DOI: 10.7256/2409-7802.2015.3.15094 URL: https://en.nbpublish.com/library_read_article.php?id=15094
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Abstract:
The article analyzes the sources and the essence of uncertainties in public management. Uncertainties are an inseparable part of the process of making decisions in public management. They are an inevitable factor in projecting, making and realization of such decisions in many situations in public management.
The author adheres to such scientific methods as the method of systematic analysis, comparative legal method, the method of synthesis, the method of abduction. With the use of these methods, the author reveals fundamental features and the essence of uncertainties in public management and the sources of such uncertainties.
The author suggests his own definition of “uncertainty” and describes the concept of “uncertainty in public management”. He also gives a review of today’s discussions on this subject and the major possible approaches to coping with uncertainties in public management.
Citations count: 1
Reference:
Idrisova L.R. —
A new look at the concept of offshore
// Finance and Management.
– 2015. – ¹ 4.
– P. 1 - 17.
DOI: 10.7256/2409-7802.2015.4.15726 URL: https://en.nbpublish.com/library_read_article.php?id=15726
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Abstract:
The research subject of this article are the concepts of offshore companies and offshore companies, gives a brief historical excursion into the history of the development of offshore companies as an economic phenomenon. According to the author, the concept of offshore historically created to conceal information about the incomes of the companies go into oblivion, but to understand and predict phenomena in the whole of its development worthy of attention. The financial crisis of 2014 - 2015, sets the vector ceased to exist offshore in their usual sense. Were applied scientific (comparison, analysis, synthesis, abstraction, generalization) and specific scientific methods (formal dogmatic, comparative legal studies, etc.). It is concluded that the offshore has gained a special position in the world economy, becoming a critical element of global business strategies, thereby promoting a variety of cross-border financial flows and the acceleration of the turnover of financial assets. The author reveals the criteria, by which corporations choose offshore companies with optimal conditions.
Citations count: 1
Reference:
Burov P.D. —
Modern methods of assessing creditworthiness of borrowers – small and medium business entities
// Finance and Management.
– 2020. – ¹ 1.
– P. 91 - 102.
DOI: 10.25136/2409-7802.2020.1.31737 URL: https://en.nbpublish.com/library_read_article.php?id=31737
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The subject of this research is the methods of assessing creditworthiness of borrowers of small and medium business, which allow assessing the level of risk for the bank. The author examines the dynamics of lending to small and medium businesses over the last decade in the Russian Federation, and analyzes the level of bad debt in the small and medium business loans credit portfolio. Critical analysis is conducted on the modern Russian and foreign methods of assessing creditworthiness of borrowers belonging to small and medium business, as well as highlights their merits and flaws. The author concludes on the fact of absence of a universal efficient method of assessing creditworthiness of small and medium business in Russian practice, overlapping of most of the indicators in the examined approaches, accent on qualitative indexes of the assessment of creditworthiness, and presence of subjective factor in the methodologies. The scientific novelty consists in substantiation of the list of absolute and relative indicators with consideration of existing research on this topic, in order to form express assessment of the creditworthiness of small and medium business, the integral indicator of which can be gained on the bases of taxonomic analysis. Improvements to the methodology of assessing creditworthiness of small and medium business can jump start development of lending to entities of small and medium entrepreneurship.
Citations count: 1
Reference:
Samygin D.Y., Kirdyashkina Y.A. —
Instrumental Models for Assessment of State Aid for Agriculture
// Finance and Management.
– 2014. – ¹ 3.
– P. 31 - 43.
DOI: 10.7256/2306-4234.2014.3.13690 URL: https://en.nbpublish.com/library_read_article.php?id=13690
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This publication was prepared as part of scientific project No. 14-12-58003 supported by the Russian State Science Foundation.
Today, the authorities of the agricultural economy sector actively participate in creating the environment for effective functioning of agriculture and sustainable development of rural territories, the agricultural sector has become a priority in the public policy, however, the policy-makers are employing the planning, forecasting and analysis methods which are from perfect. In recent years, both in Russia and in western countries, instrumental methods and mathematical tools are becoming widely used for solving the problems of scientific substantiation. In this work, the methods of monographic research and abstraction were used as well as the methods of economic and financial analysis, econometric analysis, mathematic modeling. The work summarizes the approaches to planning and evaluating the efficiency of budget allocation to the agricultural sector used in today’s practice and economic science, identifies their strengths and weaknesses, examines their suitability for use in practical operations, the current scientific approaches are complemented by figures of econometric evaluation of the efficiency of the state aid provided for the agriculture taking into account the natural and economic potential of manufacturers.
Citations count: 1
Reference:
Namestnikov A.S., Kaznacheev A.I. —
Registration for Capital Depreciation for Taxation Purposes In Terms of the Russian Economy Reindustrialisation
// Finance and Management.
– 2016. – ¹ 3.
– P. 190 - 198.
DOI: 10.7256/2409-7802.2016.3.17183 URL: https://en.nbpublish.com/library_read_article.php?id=17183
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The article is devoted to the basic instruments of tax credits used to promote depreciation of capital production funds as well as problems arising in the process of their application and possible solutions. The subject of the research is the tax rebates and preferences for corporate tax relating to charging depreciation. The authors examine the results of applying depreciation methods that increase depreciation factors in the sphere of tax accounting over the period since 2007 till 2014, prospects for using tax credit, bonus depreciation in Russia as well as experience of foreign states in promoting renovation of capital assets. The authors pay special attention to increasing the role of tax instruments in the process of reindustrialisation of the Russian economy. The main conclusion of the research is that existing tax preferences are not sufficient enough to promote renovation of capital assets which undoubtedly slows down the transfer to reindustrialisation of the Russian economy. The authors' contribution to the topic is that they offer ways to increase efficiency of tax preferences including those based on the experience of foreign states.
Citations count: 1
Reference:
Belozerov I.P. —
State debt management: the focus on efficiency
// Finance and Management.
– 2018. – ¹ 4.
– P. 26 - 38.
DOI: 10.25136/2409-7802.2018.4.25769 URL: https://en.nbpublish.com/library_read_article.php?id=25769
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The subject of this article is the financial economic relations in the sphere of state debt. The traditional use of funds borrowed by the government is geared towards covering the current demands in financial resources, for example, the federal budget deficit. Such circumstance does not allow ensuring strategic approach to state debt management. The fundamental issue of limiting the economic growth in Russia is the insufficient infrastructure development. In light of this, the government is capable of quickly finding the necessary “longer-term money” for the investments to infrastructure. The author suggests maximizing efficiency of the use of obtained funds by the state by means of targeted state borrowing. The scientific novelty of this research consists in the proposal of mechanism of investment use of a portion of state debt. The analysis of global experience supports successful application of targeted bonds as a mechanism of attracting additional investment resources. On the example of the transportation sphere, the article substantiates the need and possibility of issuing state bonds to finance specific objects of infrastructure.
Citations count: 1
Reference:
Levchaev P.A., Khezazna B. —
Peculiarities of strategic activity of corporations in the conditions of digital economy
// Finance and Management.
– 2021. – ¹ 1.
– P. 12 - 20.
DOI: 10.25136/2409-7802.2021.1.30823 URL: https://en.nbpublish.com/library_read_article.php?id=30823
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This article examines the processes of formation of financial strategy within the system of corporate management in the conditions of digitalization. Implementation of digital technologies in all spheres of life opens new opportunities for socioeconomic development of the companies. In the nearest future, scientific research in the sphere of digital economy will be especially relevant due to heightened risk of being in arrears of global trends. Rapid changes taking place in engineering, technology, and organization of production increase the importance of corporate financial management. The digital age changes the traditional models of sectoral markets, enhances competitiveness between the participants of economic processes. The theoretical and methodological framework of this research contains the works of economists on the problems of finances, financial management, and planning. The subject of this research is the combination of economic, organizational and management relations developed in the process of strategic activity of corporations in the conditions of digital economy. Enterprises that are adapted to modern economic conditions set new priorities in the process of formation of management models: the role of fixed assets decreases, while intangible assets and information become the key business engines. The effectiveness of management decisions, and thus, the effective functioning of the enterprise overall depends on the availability of accurate, timely and exhaustive information. Prompt responsiveness to the changes of external environment is the primary factor for ensuring effective management of the economic entity. The novelty of this research lies consists in the original concept of corporate financial strategic planning in digital economy in the context of the corporate management system of the industrial enterprise.
Citations count: 1
Reference:
Guseva A.P., Zhesterov P.V., Milov P.O., Pindyurina Y.V. —
Risk Management in Lending based on Assets of Small and Medium Enterprises
// Finance and Management.
– 2023. – ¹ 1.
– P. 1 - 17.
DOI: 10.25136/2409-7802.2023.1.39829 EDN: AAZOQL URL: https://en.nbpublish.com/library_read_article.php?id=39829
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Bank lending to small and medium-sized enterprises is an established and integral element of Russia's market economy. Over the past three years there has been a positive trend in the development of bank corporate lending, including the introduction into national practice of a new form of asset-based lending (ABL). Scientific works of Russian and foreign economists and lawyers were used as materials for the study. The study was based on the statistical database of the Central Bank of the Russian Federation and the statistics of the national project «Small and Medium Entrepreneurship and Support of Individual Entrepreneurial Initiative». We used general methods of scientific knowledge: methods of empirical (comparison, observation) and theoretical (analysis, synthesis) research to study the main indicators of the lending (financing) market for small and medium enterprises (the dynamics of the volume of loans, the dynamics of the number of loans, the dynamics of the number of SMEs receiving credit, the dynamics of debt on loans granted to SMEs, including overdue).
The applied research methods allowed us to analyze the SME lending market and identify the main factors affecting the SME lending market in Russia - high interest rates, as well as the growth of overdue loans. Share of overdue loans has averaged 10-15% in different reporting months over the past two years (the analyzed period from April 2019 to April 2021). This study examines current trends in lending to SMEs in Russia, especially the emergence of ABL, which have been underrepresented in recent literature. Recommendations are developed to increase the share of asset-based lending, as well as to increase its volume. The materials of the study can be useful to scholars dealing with this issue, government regulators, as well as commercial banks (including banks with state participation) and factoring finance companies.
Citations count: 1
Reference:
Kudryavtseva S.A. —
Government Debt of the Russian Federation: Definition, Types and Forms of Debt Obligations
// Finance and Management.
– 2016. – ¹ 1.
– P. 100 - 116.
DOI: 10.7256/2409-7802.2016.1.16473 URL: https://en.nbpublish.com/library_read_article.php?id=16473
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The object of the reserch is the government debt of the Russian Federation. The subject of research is the definition, types and forms of debt obligations of the Russian regions. In this article the author has analyzed theoretical and practical aspects of the government debt management at the regional level in terms of existing types and forms of debt taking into account economic science terminological apparatus on the matter as well as the current social and economic situation. Particular attention is paid to the diversity of approaches to the principles on the basis of the debt policy at the regional level in the Russian Federation. The following methods were used in the course of the research: abstract-logical method of classification, analysis of the actual documentation, empirical analysius and elements of structure-function analysis, as well as methods of collecting and analyzing information.The results of the research allowed to conclude that the management of the government debt of the Russian Federation constituents shall extend to all financial commitments issued by the regional authorities. It is an integral part of the overall fiscal policy in the region. There can be no government debt management of the Russian Federation apart from planning and execution of the Russian Federation budget. Therefore, the management of the government debt of the Russian Federation is one of the most important elements of public policy. Moreover, the debt policy is based on the principles of the single debt policy, transparency and consistency, risk minimization, urgency and economic efficiency, legitimacy and liability, information disclosure and publicity.
Citations count: 1
Reference:
Kirichenko O. —
Key financial peculiarities of gas industry
// Finance and Management.
– 2019. – ¹ 1.
– P. 1 - 9.
DOI: 10.25136/2409-7802.2019.1.27365 URL: https://en.nbpublish.com/library_read_article.php?id=27365
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The subject of this research is the peculiarities of gas industry, which predetermine the vector of interaction between the public and private finances in gas industry. Identification of such peculiarities gives a deeper insight into the motives of economic, holding, and regulating actors in the sphere of recovery, transportation and sale of natural gas. Special attention is given to the common feature, as well as considerable differences between oil and gas industry. The relevance of this study is defined by substantial dependence of the Russian federal budget on oil and gas revenues. M. Porter's Five Forces Model was used as the main research method for determining the key factors influencing the situation in gas industry. The scientific novelty consists in application of STEP-analysis for examining each of the five Porter’s forces of gas industry. The conclusion is made that the key peculiarities of gas industry include: the monopoly in transportation of gas; rent character of subsoil use; state participation through the mechanisms of ownership in gas industry.
Citations count: 1
Reference:
Radchenko Y.I., Aksenova A.V. —
On the Question about In-Process Implementation of Technically Based Performance Standards
// Finance and Management.
– 2016. – ¹ 4.
– P. 96 - 101.
DOI: 10.7256/2409-7802.2016.4.16058 URL: https://en.nbpublish.com/library_read_article.php?id=16058
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The article is devoted to the in-process implementation of technically based performance standards. It is an important topic due to the fact that changes in the process of labor and production management are reflected in worktime standards. These standards may be reviewed as a result of new equipment or technology being improved or implemented, or other activities increasing the growth of labor productivity as well as in case of operating physically or morally outmoded equipment. The authors of the article describe the procedures for reviewing and adopting new time and performance standards. They also provide the necessary legislative and regulatory framework in the sphere of performance standards. In the course of their research the authors have used a set of general and special research methods such as dialectic method, method of formal logic (aristotelian method), comparative analysis, analysis of research literature and legal documents, and analysis and generalization of data about production process and components of the production process depending on particular penal enforcement procedures. The novelty of the research is caused by the fact that there is no single approach to labour standards of direct workers and implementation of technically based performance standards at different enterprises of the Russian Federation. The main contribution to the topic is that the authors provide a detailed description of the need to implement technically based performance standards and give relevant statistics. They also describe procedures for implementing performance and time standards and reviewing current standards which may create the basis for new standards at production enterprises.
Citations count: 1
Reference:
Lukashova I. —
Comparative Analysis of Property Tax in Transcaucasus Countries
// Finance and Management.
– 2016. – ¹ 2.
– P. 22 - 37.
DOI: 10.7256/2409-7802.2016.2.17659 URL: https://en.nbpublish.com/library_read_article.php?id=17659
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Having gained their independency, Transcaucasus countries faced the need to develop their own taxation systems. Property tax is one of the new taxes which development and implementation has been accompanied with political, social and technical problems. The present article continues the series of researches devoted to the comparative analysis of the main components of property tax in the countries of the former Soviet Union. Criteria for the comparison anaysis included the basic principles of taxation specified and completed by the author for property tax. The methodology of the research is based on the analysis of effective legislative documents regulating the development and administration of property tax in Transcaucasus countries as well as the summary and systematization of the results. The main result of the research is the description of differences in the methods of taxation of property in Transcaucasus countries and the levels of conformity of methods used in these coutnries to the basic and complementary principles of property taxation offered by the author. In addition, the author also describes directions for improving methods of property taxation in the aforesaid countries.
Citations count: 1
Reference:
Mammadov T. —
Direct foreign investment as a key factor in maintaining sustainable economic growth of the CIS countries
// Finance and Management.
– 2019. – ¹ 4.
– P. 81 - 88.
DOI: 10.25136/2409-7802.2019.4.31754 URL: https://en.nbpublish.com/library_read_article.php?id=31754
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The subject of this research is assessment of the role direct foreign investments as the key factor in maintaining sustainable economic growth of the CIS partner-states. A comparative assessment of the indicators of macroeconomic stability is conducted. The author identifies the problems of attracting direct capital investments in the CIS; examines the largest direct investments funds of the CIS countries as an instrument of investments development of the considered group of states. The article substantiates the need for development of the mechanism of public-private partnership, establishment of bilateral and multilateral direct investment funds, unified protection and promotion investment agreement for the CIS member-states that would contribute to ensuring sustainable economic growth of the union countries. The scientific novelty consists in formulation of the original classification of direct foreign investments as a factor of development of national economies of the capital importing countries. The conclusion is made on the insufficient activity of existing funds in financing the large investments projects within the union. The analysis of information proves that the direct foreign investments are currently not the key direction in development of economies of the CIS partner-states.
Citations count: 1
Reference:
Andreeva O.V. —
Institutional environment of financial regulation of social innovations
// Finance and Management.
– 2023. – ¹ 3.
– P. 1 - 16.
DOI: 10.25136/2409-7802.2023.3.43547 EDN: VTWGIS URL: https://en.nbpublish.com/library_read_article.php?id=43547
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The increasing attention to social innovations in recent years has been caused by the search for alternative ways to solve the problems of the public sector, transformational processes in socio-economic systems taking place under the influence of accelerating technological progress, as well as increased interest and participation of economic agents in solving these problems, including through financial regulation. The purpose of the article is to develop theoretical ideas about the institutional environment of financial regulation of social innovations as a key tool for solving socio-economic problems caused by the increase in external and internal challenges and threats due to the increasing complexity of international relations, the risks of imbalance of the country's financial system, the growth of poverty and social inequality. As a result of the research, the following factors have been identified: factors affecting the stability of the institutional environment of financial regulation of social innovations; specific functions characterizing the institutional environment of financial regulation of social innovations; the main directions of influence of the state as the main subject of the institutional environment of financial regulation of social innovations; the subject-institutional composition of participants in the social innovation process. The effectiveness of social innovations is directly dependent on the development of the relevant institutional environment and the well-functioning mechanism of interaction of the subjects of the socio-innovation process. In this regard, further development and transformation of the institutional environment of financial regulation of social innovations should be aimed at creating conditions for stable functioning and regulation of social innovation activities, involving the widest possible range of stakeholders in it, expanding access to the necessary sources of financial resources.
Citations count: 1
Reference:
Peshkova K.V. —
Administrative Regulation of the Financial Sphere
// Finance and Management.
– 2014. – ¹ 1.
– P. 14 - 40.
DOI: 10.7256/2306-4234.2014.1.13489 URL: https://en.nbpublish.com/library_read_article.php?id=13489
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The article is devoted to studying 'public finances' as the particular element of the financial sphere that is directly related to the financial support of a state institution and municipal units and involves the deveopment of financial and other jural relations. Based on the example of public finances and associated social relations, it is possible to illustrate the issues regarding the content and admissible limits of administrative regulation of the financial sphere and the balance between financial and other forms of legal regulation in this sphere. By classifying and analyzing the legislation and scientific doctrines of financial law and administrative law, the author of the present article defines the nature, content and limits of the financial and administrative regulation of social relations in the sphere of finances including the financial support of a state institution. The author also proves the regulatory nature of some categories of financial law (financial activity of a state institution, budgetary mechanism of the government, budgetary process and financial control) and that it is admissible and useful to interpret financial jural relations as managerial and therefore legally binding and contractual. Taking into account modern tendencies in financial and administrative regulation, the author analyzes essential differences between financial and administrative relations as well as examples of the latter in the financial sphere and offers criteria for differentiating these legal relations.
Citations count: 1
Reference:
Chesnokova L.A., Yashina N.I. —
On availability of information on taxes to individuals in Russia
// Finance and Management.
– 2015. – ¹ 2.
– P. 44 - 52.
DOI: 10.7256/2409-7802.2015.2.14741 URL: https://en.nbpublish.com/library_read_article.php?id=14741
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The subject analyzed in the article is relations between tax authorities and tax payers (individuals not involved in commercial entrepreneurship) in Russia. The activity of tax institutions is aimed at developing modern IT technologies for informing tax payers. The aim of the article is to estimate the significance and reasonableness of such informational technologies in the conditions of today’s Russia. The possibility of using tax rebates in income taxation should stimulate tax liabilities in the sphere of additional unearned incomes of individuals.
According to the experience of developed countries, such a practice usually increases the budget revenues.
The methodology used by the author is based on analyzing tax statistics according to data from official websites of Russia’s Federal Tax Service and the Federal Service of State Statistics of Russia.
The novelty of the author’s approach is in revealing objective data considering the appliance of contemporary IT technologies in informing and servicing individuals in the sphere of taxation.
The author tries to justify the necessity of perfecting the service of informing the population on issues of taxes, taking into account the mentality, competence in this sphere and equipment capability of individuals.
Citations count: 1
Reference:
Sheredeko E.V. —
Foreign experience in taxation of self-employed individuals
// Finance and Management.
– 2016. – ¹ 2.
– P. 111 - 117.
DOI: 10.7256/2409-7802.2016.2.16860 URL: https://en.nbpublish.com/library_read_article.php?id=16860
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The article discusses the experience of foreign countries in the taxation of self-employed individuals. The procedure of acquiring the status of self-employed, peculiarities of taxation of self-employed individuals, the foundations of legal regulation in the United Kingdom of Great Britain and Northern Ireland, Belarus and Latvia are analyzed. The author considers the current situation in the Russian Federation on the establishment of an institutional platform for tax regulation of activities of self-employed individuals. The article is based on the results of research carried out at the expense of budget funds for state department mission of "Financial University under the Government of the Russian Federation" for 2015. The methodological basis of the article is a summary of the general and special methods. The main method is a general scientific dialectical method. The direct supplement is a methods of system analysis. The novelty of this article is conducted a special study of the experience of taxation of self-employed individuals in foreign countries. New materials (legal acts, the name of self-employed persons in accordance with the laws of foreign countries, names of taxes) are introduced into scientific circulation, that allows to expand the theoretical base and source of domestic science of the tax law.
Citations count: 1
Reference:
Litvinova A.V., Parfenova M.V., Baranchuk O.S. —
The Influence of the Financial Crisis on the Development of the Mortgage Lending in Russia
// Finance and Management.
– 2016. – ¹ 3.
– P. 181 - 189.
DOI: 10.7256/2409-7802.2016.3.18720 URL: https://en.nbpublish.com/library_read_article.php?id=18720
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The article is devoted to the stages and trends in the development of the mortgage lending market under crisis. In this article the authors analyze development trends with today's mortgage lending market in Russia, describe three periods of the mortgage lending market development (2008 - 2009, 2010 - 2014, and 2015 - up to the present day), and compare the aforesaid periods; and offer measures that are supposed to take the mortgage lending out of crisis. The results of the analysis demonstrate that the situation with the mortgage lending market in Russia which had already started in 2008 reached its climax in 2015. The main feature of the current stage of crisis is to decline in income and economic activity and, consequently, paying capacity of actual and potential mortgage borrowers taking into account the breakdown of external financing of the banking system and fast inflation rate. To achieve the research objective and substantiate theoretical provisions and practical recommendations, the authors of the article have used the abstract-logical, analytical, comparative, economic statistical research methods and comparative analysis using official banking statistics. As a result, the authors have obtained statistically valid data about development trends of the mortgage lending market in Russia at different stages and define the biggest areas of concern, describe peculiarities of the current stage and outline the main ways to take the morgage lending market out of crisis. Taking into account the country's actual financial capacities, it is necessary to undertake measures that do not require a radical reconstruction of economic mechanisms or considerable budget costs. These measures include improving mortgage programs so that they do not increase credit risks but ensure availability of mortgage lending for broad layers of the country's population; changing the format of mortgage lending towards creation of credit unions; and increasing efficiency of the government monetary policy in the sphere of mortgage lending through finding the balance between tools and instruments thereof.
Citations count: 1
Reference:
Filichkina Y.Y., Morozova G.V. —
Research of Russian Market of Mortgage Housing Crediting Under the Conditions of Crisis
// Finance and Management.
– 2016. – ¹ 4.
– P. 215 - 224.
DOI: 10.7256/2409-7802.2016.4.20743 URL: https://en.nbpublish.com/library_read_article.php?id=20743
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In this article the authors examines the nature of mortgage lending. The object of research is the market of mortgage housing crediting in the conditions of crisis. The subject of research is a set of economic relations developing between participants of the market of mortgage lending. In the result of the analysis of mortgage lending the main problems: the difficult economic situation in the country, high interest rates on mortgage loans, insufficient stimulation of demand and supply in the mortgage market, the low level of development of the market of securitization of loans, etc. Main research methods are a systematic approach, analysis and synthesis, document analysis, comparative analysis, statistical data analysis. Conclusions scientific novelty. As a solution to these problems is proposed to develop the interaction between government and participants of the mortgage lending market by improving the legislative framework of the mortgage market, formation of conditions and programs that stimulate supply and demand in this segment of the financial sector, improving infrastructure, bringing additional financial resources of subjects of the Russian economy on the market of residential mortgage loans. The statistical base of the study served as indicators of the market of housing (mortgage housing) lending the Bank of Russia.
Citations count: 1
Reference:
Evteeva M.V. —
Modern Trends of Funding Russia's Research Institutions
// Finance and Management.
– 2017. – ¹ 4.
– P. 1 - 10.
DOI: 10.25136/2409-7802.2017.4.24850 URL: https://en.nbpublish.com/library_read_article.php?id=24850
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The subject of this research article is the modern state of funding Russia's research institutions, the process that is accompanied with integrated reformation covering all elements of the academic sector. In her research Evteeva compares the main sources of funding Russia's fundamental science. She underlines that the role of the agricultural sector may start to play a crucial role under new conditions of the post-industrial era. The author also emphasizes the importance of proper definition of objectives when preparing government orders. According to the author, it is an important factor of increasing efficiency of research institutions in Russia. To analyze the process of funding the academic sector, the author of the article uses the dialectical method. To find answers to particular questions related to the subject of the research, the author uses the method of formal logic. The novelty of the research is caused by the fact that the author analyzes the current state of funding Russia's research institutions. She underlines that Russia's business sector should pay a bigger role in funding researches carried out by research institutions. The author also emphasizes the need to raise up a detailed special purpose funding of research institutions. Search for new ways to compensate for research costs apart from the federal budget is also an important and topical issue. The current system that unites research institutions based on their territorial attribute is contradictory and ineffective because research institutions of different majors do not have so many crossing points and interaction of their researchers is difficult.
Citations count: 1
Reference:
Efremov E.I., Konstantinov N.N. —
Scientific theoretical foundations of the methodology of spatial differentiation of the types of subsoil use
// Finance and Management.
– 2019. – ¹ 1.
– P. 47 - 55.
DOI: 10.25136/2409-7802.2019.1.28153 URL: https://en.nbpublish.com/library_read_article.php?id=28153
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This article examines the problems of interpretation of scientific theoretical foundations of the methodology overall, as spatial differentiation of the types of subsoil use in particular. The authors analyze and assess the characteristics and key functionalities of the methodology of the research process. Spatial attention is paid to the scientific essence of the methodology. Methodology, as a complex social phenomenon that reflects certain position of understanding, has yet to be unambiguously explained in the ontological aspect, and definitions and functionality are not clearly developed, since the key traits in various historical periods and political-economic states of society have constantly changed, which justifies the relevance of this research. Based on the conducted research, the following conclusions were made: 1) with transition of humanity into the postindustrial era of its development, accompanied by informatization of society, globalization of economy, transformation of the role of science in society, etc., the concept of methodology is included into all processes of practical activity of a human and society; 2) scientific research that attempts to achieve new objective or subjective result requires scientific theoretical methodology; 3) methodology of spatial differentiation of the types of subsoil use implies the examination of the system of principles and structuring of theoretical and practical activity of a human and society, contributing to differentiation of the basic types of subsoil use.
Citations count: 1
Reference:
Mitrovic S., Suits V.P. —
Capabilities of business intelligence for improving the efficiency of economic analysis in stressful economic conditions caused by pandemic
// Finance and Management.
– 2021. – ¹ 4.
– P. 21 - 37.
DOI: 10.25136/2409-7802.2021.4.36811 URL: https://en.nbpublish.com/library_read_article.php?id=36811
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From the perspective of economic analysis, the phenomenon of business intelligence (BI), which is the main subject of this research, is described as a version of artificial intelligence oriented towards comprehensive analysis of high data volume and its transformation into applied knowledge on the economic activity of organizations. Emphasis is placed on the feasibility and peculiarity of implementation of business intelligence systems in stressful economic conditions caused by pandemic on the global and national scale. The empirical part of research lies in the development and testing of the intelligent solution in the area of information and analytical support for economic analysis. The acquired conclusions prove that the current situation on the global economic market promotes further development of methodology for implementing information technologies, and business intelligence in particular, in the economic analysis of business activity. In order to meet the specific needs of end-users of business intelligence systems, was developed the tool for calculating the economic efficiency of medical insurance for health improvement of the personnel. It is substantiate that innovative BI- technologies help to integrate and successfully apply the solutions of business analysis at any level of corporate management. The authors outline the leading parameters of the ideal version of business intelligence, as well as justify that the use of business intelligence systems in the area of information support for economic analysis gives a multiplicative effect: - contributes to the improvement of economic analysis, efficiency of implementation and accuracy of data; - ensures the effectiveness of economic analysis for achieving best result with relatively low cost and maximum utilization time; - provides acceptable relevance of the data that underlie the management decisions, leaving out subjectivism.
Citations count: 1
Reference:
Elshin L.A., Burganov R.T., Gafarov M.R. —
Scientific and Technological Progress and its Role in Ensuring Inclusive Economic Growth of the Region (on the Example of the Republic of Tatarstan)
// Finance and Management.
– 2022. – ¹ 3.
– P. 20 - 40.
DOI: 10.25136/2409-7802.2022.3.38820 EDN: OOYAAT URL: https://en.nbpublish.com/library_read_article.php?id=38820
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Abstract:
The subject of the study is economic relations regarding the formation and development of an inclusive model of economic growth in the region in the context of scientific and technological progress. The Republic of Tatarstan acts as the object of research. Based on the use of the methodological tools of the World Economic Forum adapted to regional socio-economic systems, aggregated indices of inclusive development of the region's economy are being developed, followed by the construction on this basis of a production function that provides an empirical assessment of the impact of STP on the inclusive type of formation of regional economic dynamics. Particular attention is paid to the issues and patterns in the field of ongoing changes in the demand for labor in various sectors of the national economy in the context of a change in technological structure, which generates systemic and structural distortions and forms appropriate models of inclusive economic growth in the regions. The main conclusions of the study are well-founded, within the framework of the use of economic and mathematical apparatus, arguments proving that the role of scientific and technological development in the system of intensification of inclusive economic growth is not only comparable with such a productive factor as "The number of people employed in the economy", but also exceeds it in terms of the degree of impact on the endogenous parameter under study. A special contribution of the authors to the study of the topic is a modernized, regional-specific and patchwork statistical reporting of the meso-level, WEF algorithm, which provides the possibility of an empirical assessment of the index of inclusive economic development. The proposed methodological tools allowed not only to evaluate the indicator under study, but also to build the desired model in the format of searching for relationships "Inclusive growth-scientific and technological progress".
Citations count: 1
Reference:
Firsova E., Firsov S., Mayorova E. —
Improving the Methodological Grounds for Evaluating the Efficiency of Intangible Assets Management
// Finance and Management.
– 2017. – ¹ 2.
– P. 1 - 10.
DOI: 10.25136/2409-7802.2017.2.23465 URL: https://en.nbpublish.com/library_read_article.php?id=23465
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Abstract:
Modern trends of economic development demonstrate an increasing role of intangible assets. The authors of the present article provide results of their research aimed at improving the methodological grounds of evaluating the efficiency of intangible assets management. Based on the results of the research, the authors describe existing methodological approaches to evaluating the efficiency of intangible assets management and highlight their pluses and minuses as well as offer indicators and models allowing to evaluate the efficiency of intangible assets management and complete existing methodological grounds. The methodological basis of the research involves general and special research methods such as analysis, synthesis, comparison, systematisation, and economic mathematical modelling. The results of the research have allowed to define six methodological approaches to evaluating the efficiency of intangible assets management. The scientific novelty of the research is caused by the fact that the authors demonstrate indicators and models that complete existing methodological grounds, in particular, modified models of delivery and profitability that take into account the structure of intangible assets, integral intangible assets management efficiency indicator and indicators that describe the relationship between changes in the economic results and costs of intangible assets.
Citations count: 1
Reference:
Shelestinskiy D.G., Burtasova A. —
Experience in Ñounteracting the Illegal Proceeds Legalisation in the Leading Countries in Terms of the Volume of Services Provided in World Trade
// Finance and Management.
– 2017. – ¹ 3.
– P. 25 - 37.
DOI: 10.25136/2409-7802.2017.3.23608 URL: https://en.nbpublish.com/library_read_article.php?id=23608
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Abstract:
Significant harm to the economy of modern states is caused by the legalization of proceeds from crime. The experience of foreign countries allows us to make recommendations for improving the system of counteraction to these criminal acts in our country. The paper considers the process of developing legislation to combat the legalization of proceeds from crime in the United States and Great Britain. Particular attention is paid to current data submitted by state authorities, for example, the United States Sentencing Commission, which allow us to make timely and valid conclusions about the effectiveness of combating crime in this area. The paper presents an analysis of the activities of the National Financial Intelligence Unit of the United States - the Financial Crimes Enforcement Network and the practice of applying the federal law "Foreign Account Tax Compliance Act". In the course of the study, the authors analyzed the activities of the British government - HM Treasury, National Crime Agency, the legal basis for combating legalization based on the Proceeds of Crime Act, and Money Laundering Regulations. Based on the data obtained, the authors draw attention to the fact that law enforcement agencies of Great Britain operate at national, regional and local levels, which increases the effectiveness of the fight against legalization. Particular attention was paid to the Joint Money Laundering Taskforce / JMLIT created in 2015 and already well-proven. During the research, the authors used historical, logical, statistical, systemic and prognostic research methods. The main conclusion of the study was a reasoned opinion on the possibility of wider use of the experience of the United States and Great Britain in countering the legalization of proceeds from crime. At the same time, the authors draw attention to the need to take into account the specifics of the development of the Russian Federation and to refrain from blind implementation of the norms of law.
Citations count: 1
Reference:
Dudnik A.I., Chirkova E.S. —
Comparative characteristics of means of accessing international market in form of joint venture and franchising
// Finance and Management.
– 2018. – ¹ 4.
– P. 39 - 49.
DOI: 10.25136/2409-7802.2018.4.27724 URL: https://en.nbpublish.com/library_read_article.php?id=27724
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Abstract:
This article analyzes the means of accessing international market in form of franchising and joint venture. The authors examine the categorical apparatus of the indicated concepts, as well as analyze the peculiarities, merits, and demerits of each of these methods. The attributes of functionality at foreign marker are highlighted. The goal of this research lies in the analysis of such forms of business dealing as franchising and joint venture; as well as comparison and determination of the most efficient and convenient model of accessing international market in one or another specific case. The object of this research is the mechanism of joint venture and franchising. The relevance of this study is associated with the growing number of international joint ventures and franchising companies; however, such types of business activities have not yet received due proliferation within business circles. The mechanisms of franchising and joint venture have not been previously examined for the common advantageous factors, and this work provides the comparative analysis of the key peculiarities. The scientific novelty lies in the fact that the authors establish the selection algorithm between franchising and joint venture in terms of developing an international market promotion strategy.
Citations count: 1
Reference:
Akopdzhanova M. —
Institution of Mediation in the Russian law
// Finance and Management.
– 2016. – ¹ 1.
– P. 28 - 36.
DOI: 10.7256/2409-7802.2016.1.15818 URL: https://en.nbpublish.com/library_read_article.php?id=15818
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Abstract:
The subject of this research is the analysis of the legal aspects of the use, role and importance of mediation for the development of social relations, strengthening of legal culture and effective compliance with current Russian legislation. Judicial interpretation, clarification of the highest judicial authorities and available data on the application of the mediation procedure, allow to implement uniform criteria and rules for reaching consensus (agreement) of participants in civil transactions and economic relations with all the key issues of entrepreneurial and other economic activities, allowing, thus, to unify the law enforcement practice that is able to provide the most effective protection of the rights and freedoms of citizens and the legitimate interests of society and the state. The methodological basis of the study involves a set of general and special research methods for understanding objective socio-legal environment in the study area: methods of analysis, synthesis, systematization and generalization and formal-logical method. In the course of research the authors have defined functions and legal value as well as legal consequences of the use of mediation, have researched explanations on the formation of a uniform judicial practice provided by these judicial authorities. The conclusions of this article can be useful for law enforcement agencies, students, graduate students, and others interested in questions of jurisprudence.
Citations count: 1
Reference:
Botkin I.O., Pytkin A.N., Khisamova A.I. —
Procedural Guidelines for Assessing the Financial Capacity of an Enterprise
// Finance and Management.
– 2016. – ¹ 4.
– P. 36 - 51.
DOI: 10.7256/2409-7802.2016.4.20887 URL: https://en.nbpublish.com/library_read_article.php?id=20887
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Abstract:
To develop development strategies and make competent management decisions, it is necessary to have a fair presentation of peculiarities of a modern enterprise, completely fulfil one's obligations and fund investment projects. At the present time researchers and experts use a number of methods for assessing the financial capacity that can provide an overall evaluation of a company's financial status. However, these methods consider financial indicators only for the accounting period and do not cover dynamics of financial indicators over years which does not allow timely notice and record and rate positive or negative tendencies in the finances management. The purpose of the present research is to develop methods for evaluating the financial potential of an enterprise and make procedural guidelines about how to develop it. To obtain valid results, the authors have used such research methods as the monographic method, logical and comparative analysis, analytical grouping of data, methods of the absolute and relative values. The scientific novelty of the research is caused by the fact that the authors combine two criteria within the framework of one evaluation method. These criteria include the value of the financial indicator and the growth rate of the financial indicator. Based on the results of the analysis, the authors have described three categories of the financial potential: high, medium and low. The method was tested based on the analysis of 50 industrial enterprises. As a result of their evaluation, the authors have defined the main financial and economic problems faced by enterprises at the marco- and micro-levels and make procedural guidelines aimed at developing the financial capacity of enterprises. The method developed by the author can be used to evaluate the financial capacity as well as to develop the theory of evaluating the financial status and financial capacity of enterprises.
Citations count: 1
Reference:
Naugolnova I.A. —
Consolidated Accounting of Production Costs and Calculation of the Cost of Production in Industrial Enterprises with Small-Scale Production and Order Production Type
// Finance and Management.
– 2018. – ¹ 1.
– P. 31 - 39.
DOI: 10.25136/2409-7802.2018.1.21325 URL: https://en.nbpublish.com/library_read_article.php?id=21325
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Abstract:
In her article Naugolnikova describes the features of the cost formation and cost accounting at industrial enterprises with small-scale production and order production type. The author also touches upon specific calculation of the cost of industrial products by applying job-order product costing method depending on the specializatin of an enterprise that may be a technological, substantive, or a mixed type. The author reveals the problems of the process of calculating the cost of production with long production cycle in terms of management and accounting. The content of calculation articles of industrial enterprises is also provided. The methodological basis of the research includes methods such as logical, structural, functional analysis, and statistical and economic-mathematical methods. The author analyzes the dynamics and final finance indicators of the engine-building factory 'Kuznetsov' located in the Samara Region. The author describes drawbacks of applying the standard costing method and emphasizes the need to apply the margin approach to defining the cost of sales, assortment policy and volumes of sales based on the example of the Kuznetsov Factory.
Citations count: 1
Reference:
Otrubiannikova P., Van D., Ilina A.V., Viktorova N.G. —
Accounts receivable from the chemical enterprises: factor analysis
// Finance and Management.
– 2021. – ¹ 3.
– P. 35 - 46.
DOI: 10.25136/2409-7802.2021.3.34967 URL: https://en.nbpublish.com/library_read_article.php?id=34967
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Abstract:
This research analyzes the impact of certain factors upon the accounts receivable from chemical enterprises. The subject of this article is the accounts receivable, while the object is the Russian chemical enterprises. The goal lies in building a regression model of the dependence of accounts receivable from chemical enterprises on the explanatory factors selected in the course of analysis. The internal factors include sales revenue, net profit, accounts payable, management expenses, return on total assets, etc. The external factors include gross domestic product, monetary supply, and Networked Readiness Index. The author creates an econometric model based on the financial report data for 44 enterprises, and statistical information for the period from 2015 to 2019. The result of modeling reveals a considerable impact of such indicators as monetary resources, accounts payable, and management expenses upon the size of accounts receivable. The conclusion is made on the expansion of digital components of management expenses in the context of the goal of research. The novelty of this article is substantiated from the perspective of application of the acquired results for forecasting the level of accounts receivable and more effective management of the payables policy of the enterprise. It is noted that the internal financial and economic indicators have most impact upon the size of accounts receivable from chemical enterprises.
Citations count: 1
Reference:
Koroleva L.P., Egorova T.V. —
Corporate Property Tax Privilege: Assessment of Shortfall in Income and Principles of Exemptions (the Case Study of the Republic of Mordovia)
// Finance and Management.
– 2015. – ¹ 4.
– P. 130 - 145.
DOI: 10.7256/2409-7802.2015.4.15352 URL: https://en.nbpublish.com/library_read_article.php?id=15352
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Abstract:
Transition of the Russian Federation to real estate taxation solves many problems of property taxation, but leaves tax exemptions practice at the level of the Russian Federation constituents without changes. According to the current tax legislation, the authorities of regions are entitled to impose individual items of the corporate property tax and get in the long term more plenary powers for tax on real corporate estate. As a result, researches and suggestions to improve tax exemption practice at the regional level become of high importance and relevance. The authors of the present article provide an assessment of shoftfall in income of regional budgets as a result of corporate property tax exemption over the period of 2010-2013, analysis of their composition based on indications of their share in the overall volume of tax deductions represented on the given tax, cost-effectiveness analysis as well as conformity to the main requirements of the Russian Federation regulation and achievements in the theory of taxes and charges using the example of the Republic of Mordovia. In their research the authors have applied the methods of economic analysis such as construction of the descriptive model, vertical and horizontal analysis, cost-and-saving factors of tax exemptions. Informative basis involved regulatory legal acts in field of taxes at the federal and legislative levels and analytical reports provided by the Department of the Treasury of the Republic of Mordovia and Federal Tax Agency's Department of the Russian Federation in the Republic of Mordovia. As a result of the research, the authors have defined principles of corporate property tax exemptions according to which the regional taxation policy should be developed in the medium term. According to the authors, implementation of the described proposals for improving the practice of corporate property tax exemptions will enhance the financial sustainability of regional budgets and to strengthen the tax potential of the territories.
Citations count: 1
Reference:
Ilina S.A. —
Business Mechanism for Commercialization of Innovations at Small and Medium Enterprises and Evaluation Algorithm
// Finance and Management.
– 2016. – ¹ 4.
– P. 1 - 11.
DOI: 10.7256/2409-7802.2016.4.20750 URL: https://en.nbpublish.com/library_read_article.php?id=20750
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Abstract:
The object of the research is the business mechanism. The subject of the research is the commercialization of innovations at medium and small enterprises. The present research has a purpose to define gaps in the current business mechanism of commercialization of innovations at small and medium enterprises, to offer improving measures, and to develop the algorithm for assessing efficiency of the improved mechanism of innovation commercialization at small and medium enterprises. The author also analyzes the nature, contents and structure of the business mechanism of innovation commercialization at small and medium enterprises, and describes legal grounds private mechanisms are based on. Within the framework of the research Ilyina has used the methods of analysis, synthesis, systematization, argumentation and other methods of formal logic. The novelty of the research is caused by the fact that the author offers her own definition of the business mechanism of innovation commercialization. She defines five basic private mechanisms in the structure of the business mechanism of innovation commercialization at small and medium enterprises. The author also defines the main problems of the current business mechanism of innovation enterprises at small and medium enterprises and offers measures to improve it. The author develops the algorithm for assessing the efficiency of the improved mechanism of innovation commercialization at small and medium enterprises.
Citations count: 1
Reference:
Tsybulskaia V.I. —
Particularities of Applying the Risk-Oriented Approach to Controlling Purchases In Terms of Antimonopoly Compliance
// Finance and Management.
– 2018. – ¹ 1.
– P. 1 - 7.
DOI: 10.25136/2409-7802.2018.1.25449 URL: https://en.nbpublish.com/library_read_article.php?id=25449
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Abstract:
The article is devoted to the activity of supervising agencies that control the sphere of purchases by state companies and corporations from the point of view of their using the risk-oriented approach. The author of the article analyzes the term 'compliance' and clarifies the definition of antimonopoly compliance as a system of measures undertaken by economic entities in order to comply with the regulations regarding purchases as well as leverages used by the state to render timely control measures. Antimonopoly compliance is defined as a two-level system which elements need to be further developed at the micro- and macro-levels. In the course of her research the author has used such methods as analysis and synthesis which allows to summarize the research results as well as the method of abstract modelling that allows to present the mechanism of involving supervisory agencies into the compliance system. The main conclusion of the research is that the author describes a practical opportunity for implementing the risk-oriented approach to carrying out control activities in the sphere of purchases taking into account aforesaid advantages thereof. The scientific novelty of the research is caused by the fact that the author also offers a matrix of risk for practical implementation. As a result of the research, the author describes risk criteria, methods to define risk groups and particularities of the influence of control authorities on relevant groups of state companies and corporations.
Citations count: 1
Reference:
Zarutskaya V.S., Orekhova S.V. —
Corporate networking management based on the cost approach
// Finance and Management.
– 2021. – ¹ 4.
– P. 1 - 20.
DOI: 10.25136/2409-7802.2021.4.36627 URL: https://en.nbpublish.com/library_read_article.php?id=36627
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Abstract:
The COVID-19 pandemic caused a significant drop in the tourism sector. Precarious existence of the tourism agencies can be based on the development of the corporate business network managed by the formation of the key network resource – social capital. This research is aimed at the development and testing of the original toolset for the assessment of social capital and creation of the universal model of corporate networking management based on it. The subject of this article is the social capital of a company. The object is the operating tourism agency of Sverdlovsk Region “Mellow Season” LLC. The information framework is comprised of the corporate financial data for the period from 2014 to 2020. The expediency of implementation of cost approach on the level of individual companies is determined. The algorithm of corporate networking management based on the analysis of sustainable business ties portfolio is offered and tested. The author establishes that the company practices one-time and repeated transactions mainly with non-specific assets; specific assets are used only in transactions with the customers. Typical precontractual costs are the costs for searching information, negotiating, and concluding the contract. Typical postcontractual costs are the costs for monitoring and enforcing the counteragents to discharge their obligations. The author analyzes the information on the components of the social capital. Sustainable business tie was identified with 12 suppliers, 28 tourism agencies, and 158 customers. The analysis of behavioral practices of tourism agencies and expert assessments establishes the efficiency standards of transaction costs. It is also determined that the cost savings from the use of social capital for the company under reviews amount to 46.8% of their volume without its use. The recommendation is made to maintain the existing network of sustainable business ties; use the accumulated trust in sustainable business ties with the customers to expand the client base; shift priorities from the transactions made due to the established mechanism of business procedures towards seeking for new opportunities on the market. The author develops the universal model of corporate networking management.
Eng
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