Abstract: The growing popularity of mergers and acquisitions is due to their proven effectiveness in practice, which is expressed not only in the possible improvement of economic indicators, but also in the possibility of combining resources, knowledge and experience, increasing competitiveness, increasing innovation, reducing risks and other scale effects. However, during mergers and acquisitions, companies participating in such transactions face cost management problems, which often reduces their effectiveness and negatively affects the performance of further activities of participating companies up to record losses. The research goal is to identify, based on the analysis of foreign and Russian experience, the factors that form the problems of managing the value of companies as a result of the implementation of mergers and acquisitions. The objectives of the study are: to consider the concept and essence of mergers and acquisitions, their advantages and disadvantages in modern economic conditions; to analyze foreign and Russian experience in managing the value of companies as a result of mergers and acquisitions; to identify factors that form the problems of managing the value of companies as a result of mergers and acquisitions. The problems of managing the value of companies as a result of the implementation of mergers and acquisitions are caused by many factors. The article presents the concept and essence of mergers and acquisitions, their advantages and disadvantages in modern economic conditions. The most vivid foreign and Russian experience of managing the value of companies as a result of mergers and acquisitions is analyzed, trends and problems existing in this area are identified. According to the results of the study, the factors that form the problems of managing the value of companies as a result of the implementation of mergers and acquisitions were identified.

Keywords: acquisition strategies, merger strategies, acquisitions, merger deals, takeovers, mergers, company value management, synergistic effect mergers, synergistic effect acquisitions, synergy assessment

References:
Andronova, I.V., Sokolan D.S. (2019). Leading economies of the European Union under the pressure of direct Chinese investments. Bulletin of the Rostov State University of Economics (RINH), no 2 (66), pp. 19-26.
Brusyanin, V. E., Makhmutov Ya. I., Skovronskaya Ya. V., Tsybulsky A.V. (2017). Foreign experience of mergers and acquisitions of companies on the example of the USA. Young Scientist, no 48 (182), pp. 65-68.
Zakharova, N. D., Kim V. R., Yezangina I.A. (2017). The impact of mergers and acquisitions on the value of companies. Young Scientist, no 2 (136), pp. 424-427.
Kostyunina, G.M. (2009). Chinese practice of mergers and acquisitions. Russian Foreign Economic Bulletin, no 5, pp. 14-23.
Mardyshova, Yu.A. (2022). Mergers and acquisitions of companies (M&A). Open magazine. URL: https://journal.open-broker.ru/economy/sliyanie-i-pogloshenie-kompanij-m-a (date of application: 13.02.2023).
Minikhanova, O. (2022). What are mergers and acquisitions of companies. SovcomBlog. URL: https://

Abstract: Developed in modern conditions, such a new form of enterprise reorganization as mergers and acquisitions has many positive aspects for business, including savings on resources, market share growth and much more. However, not all mergers and acquisitions have high efficiency, some of them are unsuccessful. The reason for this is a variety of factors affecting the effectiveness of influence and acquisition transactions. This article is devoted to the study of these factors. The author discusses the essence and main characteristics of mergers and acquisitions. The dynamics of the volume and territorial representation of mergers and acquisitions in the world in 2015-2022 are analyzed. On the basis of foreign and domestic experience, the author identified and systematized factors that influence the level of efficiency of mergers and acquisitions and contribute to its improvement. The author identified two groups of factors contributing to the greatest efficiency of mergers and acquisitions: factors of efficiency improvement at the initial stage; factors of efficiency improvement at the stage of implementation and subsequent transaction support. Detailed study and planning of the factors included in these groups will contribute to the most effective implementation of the mergers and acquisitions transaction, as well as increase its efficiency in the future.

Keywords: transaction efficiency, economic efficiency indicators, efficiency, acquisition strategies, merger strategies, takeover deals, merger deals, acquisitions of companies, mergers, joint ventures

References:
Volkova, A.D. (2022). The impact of mergers and acquisitions on the global economy in the XXI century / A.D. Volkova // Modern problems of linguistics and methods of teaching Russian at university and school. No. 37. pp. 756-758.
Zakharova, N. D. (2017). The impact of mergers and acquisitions on the value of companies / N. D. Zakharova, V. R. Kim, I. A. Yezangina // Young Scientist. № 2 (136). pp. 424-427.
Kriklivets, A. A. (2019). The concept of efficiency in economic science / A. A. Kriklivets, P. S. Sukhomyro // Young scientist. № 2 (240). p. 238-239.
Ovchinnikova, L.S. (2019). Features of mergers and acquisitions markets on the example of Russia and China // International trade and trade policy. №3 (19). pp. 83-102.
Stepanova, A. K. (2022). Mergers and acquisitions as an effective anti-crisis management tool in modern conditions of development of the Russian economy / A. K. Stepanova // Business strategies. No. 4. pp. 94-97.
Temukueva, J. H. (2023). Approaches to the analysis of the ef

Abstract: The concept of open innovation, which emerged in the early 2000s, has now been put into practice. Using the example of many firms, it was found out that the skillful use of the methodology of open innovation makes it possible to make a qualitative leap in the development of advanced technologies, while in a short time and with significant resource savings. However, not all firms and not always manage to achieve decisive success in using open innovations for growth and competitiveness. This study shows that the reason for this is the wrong choice of a strategy based on open innovation, as well as the inconsistency of even a correctly chosen strategy of the company's business model. To overcome it, organizational changes are required that will ensure the compatibility of the strategy and a business model acceptable for its implementation. The concept of the relationship between open innovation strategies and their corresponding business models developed in the article makes it possible to make the work of designers of a company's growth and development strategy based on open innovations more rational and productive, and to reduce the likelihood of strategy failure during its implementation. A systematic study of the impact of various open innovation strategies on the development of business models should be continued in terms of specifying such an impact depending on the scope of the company's activities, its size, structure, specifics of business processes, cultural traditions, methods of stimulating staff receptivity to open innovation, leadership styles, communication systems and organizational power structure.The main objective of the open innovation strategy is not to implement deep integration of external sources into the activities of an innovative company, but to provide opportunities for the development and implementation of a business model that ensures close cooperation of the company with its external partners and mutual exchange of knowledge between them.

Keywords: structure of the business model, business model, crowdsourcing, the company's competitive strategy, the company's growth strategy, open innovation, Innovations, designing a business model, Economic growth, Strategy

References:
Бек Н.Н., Гаджаева Л.Р. Открытые инновационные бизнес-модели и стратегии: особенности, проблемы, перспективы развития // Вестн. Моск. Ун-та. Сер. 6. Экономика. 2018. №1. С. 140–159.
Ванхавербеке В. Формирование и развитие теории открытых инноваций // Инновации. – 2008. – №4. – 78–84.
Гине Ж., Майсснер Д. Открытые инновации: эффекты для корпоративных стратегий, государственной политики и международного «перетока» исследований и разработок // Форсайт, 2021, № 6. С. 26–37. DOI: 10.17323/1995-459x.2012.1.26.36
Кузнецова С.А. Открытые инновации: преимущества, риски и проблемы использования модели // Проблемы развития инновационного предпринимательства на промышленных предприятиях / под ред. В.В. Титова, В.Д. Марковой. Новосибирск: Изд-во ИЭОПП СО РАН, 2014. C. 88-104.
Курчеева Г.И., Хворостов В.А. Открытые инновации как фактор развития современного технологического уклада // Науковедение. 2016. Том 8, №4. С. 1-8. URL: http://naukovedenie.ru/PDF/19EVN416.pdf
Материалы московского международного

Abstract: The subject of this research is the assessment of management relations developed as a result of involvement of fishing industry enterprises in the corporate social responsibility. The object of this research is the processes of formation of corporate social responsibility in the fishing industry business as a sector promoting national interests. This article tests the original complex methodology for assessing the involvement of business structures in the corporate social responsibility based on calculation of the integrated index. Special attention is given to calculation of the index, which consists of the system of quantitative and qualitative elements of the corporate social responsibility of the business structure, as well as to the choice and justification of measures for implementation of these elements into the individual profile of the corporate social responsibility of the business structure for subsequent comparative analysis. Leaning on the approaches existing in the world scientific literature towards the concept of corporate social responsibility, the author identifies the need for definition and assessment of such indicator as the involvement of business structures in the corporate social responsibility. The author proposes to calculate this indicator according to the algorithm of methodology that takes into consideration the elements of corporate social responsibility determined on the basis of actions on the development of internal and external environment of the company. Approbation of methodology on the example of fishing industry business structures can serve as the foundation for comparative analysis of business structures of various sectors in the regions, taking into account their impact upon the regional development for determination of feasibility of state support and development of the unified structure of corporate social reporting.

Keywords: involvement, assessment methodology, rating score, human capital, entrepreneurship, corporate citizenship, corporate social responsibility, fishing industry, corporate social reporting, social investments

References:
Davis K. 'The Case For and Against Business Assumption of Social Responsibilities', Academy of Management Joumal, 1973, 16, r. 312-32.
Palatstsi M., Statcher Dzh. Korporativnaya sotsial'naya otvetstvennost' i uspekh v biznese [Tekst]. M.: 1997. S. 17.
Carroll A.B. Corporate Social Responsibility: Evolution of Definitional Construct // Business & Society. 1999. Vol. 38. №3. s. 345 – 433.
Encyclopedia of Business and Finance // USA— 2nd ed. 2007. 814 r.
Kitchin T. Korporativnaya sotsial'naya otvetstvennost': v fokuse brend // Menedzhment segodnya. 2003. № 5. S. 24.
Belyaeva I. Yu., Eskindarov M. A. Korporativnaya sotsial'naya otvetstvennost': upravlencheskiy aspekt: monografiya. M.: KNORUS, 2008. S. 20.
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Kowalczyk, R.Kucharska, W.Corporate social responsibility practices incomes and outcomes: Stakeholders' pressure, culture, employee commitment, corporate reputation, an

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.

Keywords: business scaling, market strategies, globalization, investor, joint venture, franchise, Foreign market, investments, international business, companies

References:
UNIDROIT (International Institute for the Unification of Private Law), Model franchise disclosure law, Rome, UNIDROIT, 2004, 68 pages.
Yolanda Polo‐Redondo, Victoria Bordonaba‐Juste, Laura Lucia Palacios. Determinants of firm size in the franchise distribution system: Empirical evidence from the Spanish market. European Journal of Marketing, Vol. 45 Issue: 1/2, pp.170-190, 2011.
Simonova L.M. Osobennosti mezhdunarodnykh sovmestnykh predpriyatiy v XXI veke / L.M. Simonova, A.M. Kachur // Vestnik Tyumenskogo gosudarstvennogo universiteta. Sotsial'no-ekonomicheskie i pravovye issledovaniya. 2017. Tom 3. №4. S. 220-236
Samofalov V.I., Pechenkina A.Yu., Likholetova A.A. Osobennosti kontseptsii mezhdunarodnogo franchayzinga v regional'noy ekonomike. Finansovye issledovaniya. № 4 (53). - Rostov-na-Donu: Rostovskiy gosudarstvennyy ekonomicheskiy universitet "RINKh" 2016. S. 63-68.
Savel'ev V. M. Formy partnerskikh svyazey i mekhanizm sotrudnichestva predprinimatel'skikh struktur v sfere uslug : partnerskie otnosheniya