No 2 (2020)
- Year: 2020
- Published: 30.06.2020
- Articles: 7
- URL: https://vektornaukieconomika.ru/jour/issue/view/7
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Description:
Published 30.06.2020
Full Issue
RISKS OF FINANCIAL SYSTEM IN THE CONTEXT OF DIGITAL TRANSFORMATION OF THE ECONOMY
Abstract
A financial system reflects the dominant economic order and meets the demand for technological development at the national and supernational levels; moreover, it can ensure the sustainability and stability of the economy, keep the balance between the supply and demand in periods of crisis. The developed financial systems have the tools and mechanisms of regulation of actual wellness, employment, social security, and technological innovations support. The substitution of traditional financial relations during digital transformation influences the financial system structure and the financial processes essence. The paper presents the updating of definitions in terms of the research of the financial system, identification of structural changes influencing its stability, and the consequences of the entry of digital economy into the sphere of public finances, companies’ finances, and households’ finances. The author carried out the theoretical research of scientific approaches to the financial system structure and the financial market functioning and proved the financial system structure accepted for the analysis. Based on the empirical and economic and statistical methods, the author identified the factors caused by the digitalization processes and unpredictable events challenges, which influence the financial system and its structure. The study identified the imbalances and factors influencing the ensuring of the financial system stability. Among key imbalances, the author mentions the imbalances between the budgets of the budgeting system in terms of incomes and obligations; the deficiencies of long-term sources of financial assets; the little share of the non-bank financial sector. The author highlights the expansion of some segments of the financial market and the formation of a new type of economic entities of the financial system – technological platforms. Risks are classified and grouped by the financial system areas. The author proves that state financial regulation has a decisive effect on the development of the financial system in the context of digital transformation and should be aimed at the elimination of imbalances.
Digital Economy & Innovations. 2020;(2):5-14
5-14
LABOR POTENTIAL OF THE YAMALO-NENETS AUTONOMOUS OKRUG AND ITS ROLE IN THE FORMATION OF THE FUTURE IMAGE OF THE REGION
Abstract
The relevance of considering the role of the labor potential of the Yamalo-Nenets Autonomous Okrug in the formation of its future image raises for many objective reasons: in strategic perspective, the increasing role of YNAO in the economy and national security of Russia generates the quantitative and qualitative need for employment potential; the transition to new digital technologies and creation of intelligent industrial platforms, the development of non-resource industries and other region transformation in the conditions of realization of labor potential change the requirements to its quality, content, and characteristics. The purpose of the research is to determine the role of labor potential in the formation of the future image of the oil and gas region by evaluating the quantitative and qualitative indicators and identifying the strategic prospects. The study showed that the process of formation and development of labor potential of the region undergoes changes and takes new meanings in the context of the dominant role of labor resources in the formation of the future image of oil and gas region, which is the basis both for the generation of the discussion and the development of scientific methods of analysis and evaluation of the strategic role of labor potential in the formation of the future image of the region. The paper represents the results of empirical study fixing the factors that limit the implementation of large-scale projects strategically important for the YNAO. According to the analysis of the empirical data, the author identified that the most important factors limiting the implementation of projects are the low efficiency, firstly, in the formation and realization of labor potential of the region and, secondly, in the forecasting of the future quantitative and qualitative need for human resources. The obtained data indicate the necessity to find effective measures for the formation and development of the region’s labor potential, which would be positively extrapolated into the future.
Digital Economy & Innovations. 2020;(2):15-23
15-23
ORGANIZATION OF INTERNAL CONTROL OF RECEIVABLES IN COMMERCIAL ENTITIES
Abstract
The current economic instability negatively impacts on the financial sustainability and solvency of commercial enterprises. We can observe an increase in receivables, an increase in cash gaps, a need to raise debt, and, as a result, the financial condition of organizations is deteriorating. As a result, a need for internal control of receivables arises, which reduces financial risks and increases the financial sustainability of businesses. The author developed an integrated algorithm for the construction of the system of internal control of receivables, which includes three main stages: organizational and preparatory stage, internal control stage, and the stage of evaluation of the effectiveness of the internal control system. The proposed activities of the organizational and preparatory stage will create a legal and regulatory basis in the commercial organization for the organization of internal control of receivables and the system of motivation of the personnel involved in the business. They take into account the peculiarities of the enterprise management system, the scale of its activities, and the volume of document circulation. For the internal control phase, the author identified, grouped, logically structured, and described the procedures for the preliminary, current, and subsequent monitoring of receivables in commercial organizations. The authors prepared the examples of documents to enable internal control and claim management of the timeliness of accounts receivable payments, as well as to obtain operational information for management decisions on the collection of receivables. The stage of assessment of the internal control system includes methods and techniques to identify weaknesses in the internal control system and to adjust its performance. The proposed integrated approach to the organization and implementation of internal control makes it possible to respond promptly to the risks of receivables, to take measures to eliminate them, and to manage receivables most efficiently.
Digital Economy & Innovations. 2020;(2):24-31
24-31
ARTIFICIAL INTELLIGENCE IN THE MANAGEMENT ACCOUNTING OF COMMERCIAL STRUCTURES: NEW OPPORTUNITIES
Abstract
The development of the digital economy leads to the accelerated introduction of artificial intelligence technologies, which creates new wide opportunities for justifying management decisions, including the use of management accounting tools. The purpose of the research is to consider the possibilities of using artificial intelligence in the practice of management accounting and related changes in the characteristics of elements of the methodology of management accounting as a field of scientific knowledge. The scientific novelty of the study is the development of characteristics of the management accounting methodology elements caused by the use of artificial intelligence and reflecting the strengthening of the role of accounting within the system of economic entity management. The authors proposed interpretations of elements of the logical structure of the methodology of management accounting of an object (historical, current and future information about the costs and results of financial and economic activities in different contexts and details), a subject (financial and economic activities of economic entities and their structural elements), and methods (general and specific). The authors proposed to extend the formulation of goals of management accounting (increased efficiency, accuracy and completeness of the information provided to management) and tasks (identification and measurement of performance; improving the efficiency of information collection; prompt preparation and processing of information with a given degree of detail and depth of the time lag; strengthening of quality management analysis, control, planning, and forecasting). Besides, the paper contains the suggestion of supplementing the methodological characteristics of the principles and functions of management accounting with new analytical and organizational capabilities, which together will allow management accounting to get both the expanded tool capabilities and new content. The authors concluded that artificial intelligence, along with other digital innovations, can become an applied tool for management accounting.
Digital Economy & Innovations. 2020;(2):32-38
32-38
PROBLEMS AND OPPORTUNITIES OF PJSC “SBERBANK” ACTIVITY IN THE STOCK MARKET
Abstract
The activity of commercial banks in the stock market is one of the most promising areas for the development of the banking sector. The return on investments in the investment portfolio and on the provision of intermediary services in the stock market forms a significant part of the bank profit, which determines the importance of the research. The object of the study is PJSC “Sberbank”, one of the systemically important commercial banks whose assets comprise more than 30% of the assets of the entire Russian banking system. The paper presents the conclusions based on the analysis of the activity of “Sberbank” in two forms of participation in the stock market - as an investor and as a professional participant. Particular attention is paid to the broker activity of the bank in the stock market. The study has revealed that PJSC “Sberbank”, as an investor, prefers less profitable financial instruments with low risks, such as sub-federal and corporate bonds, which helps maintain bank liquidity. As a professional participant in the stock market, PJSC “Sberbank” holds a leading position in the number of clients in the sector of brokerage services. Based on the results of the study, the following main problems of the bank in the stock market are specified: low investment activity of the bank and the disloyal policy of brokerage services for its active customers. To improve the activity, it is recommended to develop IT-technologies through the creation of unique software products.
Digital Economy & Innovations. 2020;(2):39-44
39-44
THE DEVELOPMENT OF AN INTEGRATED RISK MANAGEMENT MODEL WITHIN THE CONCEPT OF LEAN PRODUCTION
Abstract
The process of organizing risk management is difficult for any economic entity. The requirements of the ISO 9001:2015 international standards of the quality management system used in Russia, including for obtaining a certificate of conformity, determine the necessity for risk management and documentation of this process. These standards contain information about the necessity for the application of risk-based thinking; however, more detailed instructions on how to organize a risk management system are unavailable. The purpose of this study is to develop a risk management model by integrating the tools of the lean production methodology. Such integration is necessary to improve decision making by conducting a quantitative analysis at each stage of risk management. The integrated model allows an economic entity to manage risks more effectively not only in the framework of the concept of lean production. To identify potential risks, the authors used the Delphi method. After that, the authors proposed dividing potential risks into risk events and risk causes. Structural modeling is used to reflect the interrelations of risk events. An important aspect is that the risk causes are interconnected with each other and risk events; consequently, during the study, the authors suggested to establish the interdependence between risks. After that, the authors determined the weights of risk events and risk causes to calculate the adjusted risk values. As a result of the study, risks, which emerge when introducing the concept of lean production in an organization, are determined. As a rule, they are risks related to the lack of understanding of the tools of this concept both by top management and the employees. The authors developed an approach to potential risk assessment taking into account the adjustment of integrated potential risk for the weight of each risk type.
Digital Economy & Innovations. 2020;(2):45-52
45-52
SPECIAL ASPECTS OF FORMATION OF THE SYSTEM OF STRATEGIC PLANNING OF AGRICULTURAL SECTOR OF RUSSIAN ECONOMY
Abstract
The development of the agricultural sector and the entire national economy of Russia at the present stage is determined by the key realities of globalization trends and the mechanism for adapting to them. The current confrontation of the interests of world powers under the influence of sanctions against Russia, which is a new form of global political and economic transformation, requires more active use of tools and mechanisms for state regulation of socio-economic processes, the main of which is the strategic planning. The system of state planning has always been the most important tool for justifying agricultural policy, both at the federal and regional levels, which determines the search for the main trajectory of the economic development of agrarian production sectors. The paper considers the root causes of the protracted systemic crisis in the agricultural sector of the country’s economy. The study revealed that the lack of effective science-based tools of the state management system is becoming the main factor hindering the development of the country’s agrarian production sector. The author identified that in the new Russian reality, state management of the agricultural sector of the economy should be based on its key function - strategic planning. The study justified the necessity of implementing a systematic campaign in planning. The methodological aspects of the development and implementation of program-target planning in the agriculture of Russia allowed identifying the main shortcomings of the contemporary practice of planning and forecasting. The author proved the necessity of developing a strategy for the development of the agro-industrial complex in the new macroeconomic conditions. The developed model of a modern strategic planning system based on the integrated approach, including concepts, forecasts, economic orientation, plans, and programs, excludes the possibility of fragmented planning and forecast management of the agricultural sector of the economy.
Digital Economy & Innovations. 2020;(2):53-59
53-59