No 4 (2018)
- Year: 2018
- Published: 28.12.2018
- Articles: 8
- URL: https://vektornaukieconomika.ru/jour/issue/view/15
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Description:
Published 28.12.2018
Full Issue
ISSUES OF INNOVATIVE DEVELOPMENT OF THE ELECTRIC POWER COMPLEX AND ENERGY TRANSITION PROCESS IN THE RUSSIAN FEDERATION
Abstract
The paper discusses the issues of increasing the energy efficiency of the industry, ensuring reliable and high-quality supply of electric energy, improving the economic and financial activities of electric power enterprises through the use of mechanisms for the innovation activity development and digitalization of production processes, transmission, distribution and sale of electric energy. Based on logical and statistical methods, the current state of the electric power complex has been analyzed. The analysis reveals the aging of production assets, an increase in the indicators of depreciation of fixed assets, and a fall in the innovative activity of electric power enterprises. The work concludes that one of the factors contributing to the decline in the efficiency of functioning and development of the electric power system of the Russian Federation is the decentralization of production assets and control over production processes. Meanwhile, the analysis has revealed the increase in electrical energy consumption in all federal districts of the Russian Federation which indicates the necessity to find mechanisms for solving this problem. Based on the analysis, the authors of the work suggest that creating network organizations in the power industry which should be based on the interaction of all participants in the technological chain. In its turn, such a network organization will increase not only coordination between the participants of the production process but will ensure the rapid exchange and processing of information, set overall development goals, mobilize and concentrate resources on separate projects, etc. The authors conclude that the proposed measures cannot be implemented without the introduction of digital platforms in the power industry based on the transition of the electric power complex to digital technologies for information exchange, and the creation of a single digital control center within which the information will be accumulated and management decisions will be made.
5-11
CORPORATE SOCIAL RESPONSIBILITY IN RUSSIA: IS IT COSTS OR INVESTMENTS?
Abstract
The overall result of the work is the justification of the assertion that corporate social responsibility (CSR) of a company should be considered both as the system activity to take into account the interests of its stakeholders, which requires the additional expenses, and as a special form of social capital, the use of which gives an economic effect in the form of growth in the future profitability of business and also actually reduces the risks of the consequences of financial difficulties considered within the classical models of the theory of finance.
A comprehensive methodology for assessing the level of corporate social responsibility has been developed, which allows evaluating the efforts of large enterprises in the social sphere as a whole, according to which the calculation of the integral indicator of CSR is carried out on the basis of the linear aggregating model and the Felix-Riggs score-rating method.
The central result of the work is the development and testing of the methodology for assessing the impact of CSR on the level of business sustainability during and after the crisis. A common feature of large oil producing companies is the implementation of CSR programs and the compilation and publication of social reports. The above facts, including the availability of necessary data in open access, predetermined the choice of the object of study – a group of large and medium-sized Russian oil producing companies.
The key hypothesis of the study is the assertion that the high level of corporate social responsibility of an oil producing company increases its financial stability during the crisis and in the post-crisis period. As an example, the crisis of 2014 in Russia is considered. As a result of regression modeling, it is shown that corporate CSR has a positive effect on the post-crisis dynamics of the corporation’s financial indicators, using the example of a group of oil producing companies in Russia.
12-19
THE DEVELOPMENT OF MARKETING STRATEGY OF A FAVORABLE TERRITORY IDENTITY
Abstract
The relevance of the study is determined by the necessity to expand the scale of studying the problems of the identity, brand and image of the territory, the importance of improving the competitiveness and the efficiency of the development of regions, cities and the country as a whole, as well as ин the insufficient scientific elaboration of the problems of forming and promoting a positive image of regions. The paper presents the evolution of marketing concepts and the place of territory marketing in it. It has been established that the “identity”, “image”, and “brand” categories are used in the specialized vocabulary of the scientific community without a uniform approach to their interpretation, whereby the main definitions of territory marketing have been clarified in the paper. The paper presents the results of a marketing study that allows identifying, ranking and systematizing the most successful and unsuccessful components of Vladivostok identity. In particular, the regional nature and its geographical location have got the highest grades from the respondents, the activity of young people in all spheres have got the average grade, and the regional authorities and road condition have got the lowest grades. The results of systematization of the urban environment factors show that, today, the image of Vladivostok is influenced by more negative factors (power, corruption, poor social support, poor development dynamics, undeveloped urban transport, poor road conditions, poor urban ecology, Soviet building system) than by positive ones (the presence of image-building events (Tiger Day, City Day, drifting competitions, etc.; good geographical location, availability of resources, the beauty of nature, the proximity and special relations with Asia). The authors proposed the technique of formation and implementation of the marketing strategy of Vladivostok.
20-24
THE RUSSIAN COMPANIES’ IPO: SPECIAL ASPECTS AND DEVELOPMENT TRENDS
Abstract
To expand the client base as well as to develop a company, the Russian and foreign companies use share financing. The Initial Public Offering – IPO – offers the exciting possibilities for the stock market and moves a company to the new level of development. Thus, the IPO becomes the most popular way to increase the financial opportunities of the companies, as well as mainstreams the study of the IPO efficiency. The paper analyzes the Russian IPO market in the period from 1996 to 2017 and constructs the diagram of changes in the volume of funds attracted and the rate of growth in this period. According to the diagram, the author determined the time periods for the IPO market formation, its active growth, and the decrease in its volume (presumably due to the 2008 crisis). The diagram of funds attracted by the Russian companies through the different stock exchanges is drawn up. The study identified the simultaneous issue of stocks by the Russian stock exchanges and London Stock Exchange – the double listing, which is caused by the greater liquidity, availability and the interest of potential investors. The author identified the tendency of the initial underestimation of the Russian companies’ stocks what is indicated by the closing prices of the first trading day, which are higher than the initial placement, and is confirmed within 80 % of the studied placements in the period from 2006 to 2016. Thus, to increase the investment attractiveness of the Russian companies, it is necessary to improve the IPO procedure at the stages of preparation and implementation. Increasing the transparency of data about the companies planning the IPO will reduce the stocks underestimation.
25-30
THE STATE OF RUSSIAN BANKING SECTOR AND ITS DEVELOPMENT PROSPECTS
Abstract
The paper deals with the actual problems of the Russian banking sector and namely with the importance of non-performing loans within the structure of total assets of the Russian banking sector. The paper reviews the Russian banking system during the crisis of 2015 as well as its fundamental reasons. Moreover, the author identified the interrelation between the macroeconomic indicators and the state of the banking system using the comparative analysis of banking systems of the developed countries during the crisis of 2008. The paper gives the review of a number of works of foreign researchers with the focus on the non-performing assets. In particular, the author studied the works on the Basel Accords implementation both in the EU countries and in Australia, the USA, and a number of countries of Eastern Europe. The analysis of works proved the necessity to carry out the analysis of the existing trends in the Russian banking sector. In this paper, the author determines the main indicators used for the analysis of the state of the banking system, analyzes the dynamic picture and identifies the increase in the share of the troubled assets of the Russian commercial banks. The analysis of the structure of the non-performing loans in terms of the types of business activity has revealed the riskiest areas of crediting, in particular, the wholesaling, construction, etc. Based on the analysis, the author describes the development prospects of the banking sector in terms of the expected growth of banking sector, the indicators of profitability, capitalization, and liquidity of the commercial banks, and the indicators of the banks’ loan portfolios quality.
31-36
FORECASTING OF SOCIAL AND ECONOMIC DEVELOPMENT OF THE REGION (ON THE EXAMPLE OF BELGOROD REGION)
Abstract
The current stage of economic development requires the use of science-based economic solutions that increase the efficiency of socio-economic development of the region. The impact of various factors on the final result can be estimated using the economic and statistical methods. Their application makes it possible to analyze the studied statistical indicators, build a model and calculate the predicted values on the basis of the obtained data. Economic forecasting is based on the study of the most important principles of the economic processes of expanded reproduction. The quality of the forecast and the success of the strategy formulated on its basis directly affect the effectiveness of decisions at the regional and state levels. The Belgorod region, an actively developing region, was chosen as the object of research. The paper notes that the main indicator characterizing the development potential of the region is the gross regional product (GRP) per capita. On the example of the Belgorod region, using the correlation and regression analysis and the extrapolation method, the authors constructed multifactor models of socio-economic development of the region. At the first stage of the study, factors were selected for inclusion in the model. Among the many factors influencing the dynamics of the effective feature, it is revealed that the strongest impact is made by the consolidated budget revenues and the average annual number of employees in the economy. During the assessment of the adequacy of the constructed models, a comparative analysis was carried out and a regression model of the power function was recommended as a statistically significant one. At the second stage, trend models are constructed and separate forecast values for each factor are obtained. The use of these models allowed building a forecast of GRP per capita with a fairly high degree of accuracy. The results of the study indicate the sustainable development of the Belgorod region.
37-43
PRODUCTIVE-ECONOMIC PARAMETERS OF THE AGROINDUSTRIAL COMPLEX DEVELOPMENT: REGIONAL ASPECT
Abstract
The paper presents the model for assessing the production and economic growth of the agro-industrial complex of Rostov region, the use of which allowed determining the main approaches to the management of the economic dynamics of the agro-industrial sector of the region in the context of the food embargo implementation. The model is based on the analysis of the system of indicators divided by the group factor. This approach allows identifying not only the growth points of the industry but also the factors affecting its process and the existing reserve. In particular, the first group of indicators characterizes the vectorial production and economic growth of the agroindustrial complex and is formed taking into account the specifics of agricultural production in the region. The second group reflects the dynamics of factors characterizing the type of economic growth in agriculture. The third group of indicators contains the most important productive-economic characteristics of the industry. It is possible to observe the internal contradictions in the development of the agroindustrial complex only by applying the system of relative indicators. The fourth group demonstrates the effective parameters of the economic dynamics of the agrarian sector of the region and reveals its potential.The paper studies the development of trends in agricultural production in the Rostov region and determines the ratio of the quantity and quality dynamics of the regional agroindustrial complex. The authors identified the positive growth vector for the main productive-economic parameters of the agriculture development in the Don Region. It is substantiated that the identified potential of the agrarian sector is able to ensure the process of the expanded reproduction in the industry. The paper gives the analysis of the export potential of the Rostov region both in terms of export facilities and export infrastructure, what is a backup point for the growth of the regional agroindustrial complex. Special attention is paid to the financial support of the state, due to which the effective mechanisms and effective instruments to use the allocated budget funds have been found.
44-49
THE DEVELOPMENT TRENDS IN THE PAID SERVICES MARKET (ON THE EXAMPLE OF THE REPUBLIC OF TATARSTAN)
Abstract
Services are the most important part of national economy and are grouped according to the purposes, nature, application and properties. Currently, the most important type of services in Russia is the trade which makes the study relevant. The authors of the paper analyzed the market of paid services at the macro- and meso-level. The index of physical volume of paid services to the population, the consumer price index, the positioning, and the cluster analysis are used as the tools of analysis.
The detailed analysis of the macro-market of paid services is carried out in terms of types of services and covers the period of 1990–2016 what allows assessing the market development trend over the past 26 years. During the analysis, the most popular types of paid services among Russians were identified.
The meso-level study is carried out on the example of Volga Federal District, as a result of which, the diagram of positioning of the District regions according to the indicators of paid services volume per capita and the index of physical volume of paid services is built and four quadrants are defined.
The study concludes with the assessment of the dynamics of paid services market of the Republic of Tatarstan for 2010–2016 taking into account the specifics of services. At the first stage, the development trends of the regional service market are identified; at the second stage, the cluster analysis of the municipal districts of Tatarstan is carried out in terms of paid services per capita, which identified three groups of regions with the further clustering of the municipal entities. The practical significance of the results of the study is in the grouping of paid services market consumers to get an idea of the behavior of a customer from a certain segment.
50-57