EDUCATION INNOVATIONS
In the nearest future the educational environment is expected by the serious changes connected with digitalization. The system of electronic education creates new opportunities and new problems. It is possible to carry the solution of problems of availability of education, expansion of opportunities of the choice for the student, increase in a variety of forms and instruments of transfer of knowledge to the main opportunities. Problems of system of electronic education can be divided into two classes: current (transitional) and immanent. Now electronic education faces such problems as aspiration to imitation of internal education, weak quality control of educational products, low interactivity, a primitivization of competences. The most essential, immanent shortcomings of system of electronic education are problems of socialization and transfer of implicit knowledge. Digitalization will inevitably lead to transformation of education market. Leading universities (generation of new knowledge, development of essentially new educational products, preparation of scientific shots) will become the main players; manufacturing companies of electronic educational products and global educational platforms (broadcast of finished educational products to the consumer).
The article deals with changes and amendments introduced in the Federal law ‘About Education in the Russian Federation’ and rules of enrollment in the PhD course in the aspect of training academic and pedagogical personnel. The scale of appraising key individual achievements for enrollment in the PhD course was provided, which was illustrated by leading universities of Russia in the field of economics. Figures of participants’ graduation were analyzed by science sectors in 2015 and 2016, including those with dissertation defense. Key reasons for the PhD course enrollment were shown and specific features of the PhD course enrollment in overseas countries were identified. It was proposed to take into account additional indicators of candidates’ individual achievements, which could give priority rights to be enrolled in case of equal competitive scores. Recommendations were put forward aimed at PhD course modernization in the field of dealing with candidates and personnel with high qualification.
The article touches upon the problem of improving the quality of mathematic training of economics universities graduates, which is connected with the necessity of using mathematic methods in analyzing and forecasting economy within the frames of Russian economy passing over to market relations. The review of investigations dealing with this problem shows certain difficulties for its solution. The author analyzes the role of applied economics and mathematic subjects in economist’s education by using the subject ‘Mathematic Methods of Finance Analysis’ as an example. The principle conclusion drawn by the author: applied mathematic subjects based on fundamental sections of mathematics continues mathematic education of the economist , which could improve the level of mathematic training of future economists and the quality of economics education in general.
ECONOMIC THEORY
The article provides research findings of the highly technological sector of economy from the point of view of assessing ‘growth areas’ of the sector. The idea of ‘growth areas’ was described in view of sectoral approach. Different categories of ‘growth areas’ are shown: highly technological, medium-highly technological, medium-low technological and low technological. The system of indicators meant for analyzing ‘growth areas’ is demonstrated both in generalized form and in the section by blocks, such as high technologies production, finance results of science intensive enterprises, business activity of ‘growth areas’, science intensive services in the highly technological sector, customer structure and labour resources and relative indicators of the highly technological sector. Mutual impact of the mentioned-above indicators is identified.
By analyzing the conditions of functioning and development of mass production of wealth the article identifies the lines of investing in ensuring the paid demand for wealth by their key indicators, including volumes, production costs, quality and product range. The article shows the correspondence of investment Juglar cycles to stages of job specialization used in mass production of wealth and substantiates the use of indicators of investment cycles in order to identify stages of productive forces specialization. A group of informative indicators was shown necessary to forecast and plan investment in designing and realizing the results of advanced developments aimed at increasing productivity at te expense of its public and technological subdivision at transition to the next stage of productive forces specialization.
The article deals with issues of functioning of non-profit making sector and its organizations and associations. The author reviews foreign and Russian legislation, it allows to identify international criteria of attributing organizations to non-profit making. The article provides overseas research demonstrating specific features of the third sector and leading theories, which explain arising of non-profit making sector with due regard to the country aspect. On the basis of this material characteristics of non-profit making sector, such as diversity of participants and the use of commercial sector practices are shown. The author highlights the most important functions of non-profit making sector and the role of non-profit making organizations in the development of social sphere and increasing human capital, as well as their direct and indirect contribution to economy.
The article analyzes the problem of Russia foreign debt from the point of view of the world-system approach as a form of economic dependence. The debt dependence of Russia is revealed in increase in the foreign debt volume and its service and in the trend of negative net-transfer in favour of creditors. The author identifies the volumes of imperialist rent, which is passed by Russia to countries of the center in respect to foreign debt. It is pointed out that debt dependence is based on dependence in the field of production and trade, thus its overcoming is possible only with simultaneous overcoming of different forms of economic dependence.
FINANCE, MONETARY CIRCULATION AND CREDIT
The development of the Law about securities market is taking place not only in the direction of deeper regulation of the given market itself but also in the direction of broader covering of other finance markets with finance tools which differ from securities and covering other trade and credit operations apart from operations dealing with issuance and circulation of issue securities. This situation is justified due to relative underdevelopment of certain finance markets in Russia. The authors show that in order to develop these markets it is necessary to design their independent regulation both in the field of normative documents and in administrative regulation.
For the last five years capitalization of joint stock companies in Russia nearly doubled while the major indicator of stock market development, i. e. MISEX index – increased more than in 1,5 times. In spite of such favourable conditions for the development of portfolio investment mutual investment funds, whose investment is mainly shares demonstrate low effectiveness. In 2015 the growth in investment funds profitability showed 30,82% (in average), while MISEX index grew by 28,72%. If we take into account that commission rates with purchase and redemption reach 3,5%, while with purchase of exchange investment fund – 1%, then investor profitability, who entrusted his/her money to investment company or just invested it in index will be equal. Thus securities market needs more effective methods and algorithms of shaping the stock portfolio, as investor’s expectations of getting profits could be met only in case of professional choice of investment projects. The article puts forward a new express method of selecting shares to the portfolio called the method of investment rating. This method is based on developing logistic regression. It provides an opportunity to analyze share price of all issuers with the help of the programmed algorithm taking into account not only principle shares’ characteristics (risk and profitability) but the impact of other variables connected with finance and business work of the issuer and his market figures. The authors described economic and mathematic aspect of the process of giving an investment grade and tested the method of investment rating on the Russian securities market.
While the finance market is developing both on the national and international levels we can observe consolidation and amalgamation of finance and non-finance companies. As a result finance-production holding companies come to the market, which carry out banking, investment, insurance, leasing activity, as well as the work of professional securities market participants and other functions, including non-finance (trade, industrial) one. In the Russian Federation certain forms of legal entities’ associations were formed. The most widely spread form of such associations with participation of credit organizations in today’s Russian economy is bank groups and bank holdings. They consist of independent legal entities, however these entities are connected with relations of control and considerable impact, thus finance market participants consider bank groups and bank holdings as single business entities. The authors came to the conclusion about the possibility and necessity of expanding banking structures to regions.
The article describes local currency as an additional means of payment functioning along with the national currency on a certain limited territory or within a certain community. The authors characterize this type of currencies, identify their aims and forms and analyze foreign and home experience of using them. The article puts forward a mechanism of local currency circulation by describing its key elements. In this case the combination of three main factors is necessary: participation of those who deal with production and consumption, support of local authorities and interaction with local banks and other finance and credit organizations. The authors advance a hypothesis about the beginning of the stage of transforming currency interactions, when horizontal ties between currencies give rise to vertical structure of these relations.
Commercial banks play a specific role in the system of finance resource re-distribution. They are key finance mediator in economy, they foster a rise in effectiveness of functioning and development of business entities and in general they promote economic growth in the country. The importance of bank participation in the economic system is evident also in bank participation in implementation of state programs and projects aimed at strategic problem solving. The development of all economic system with all its ties and interconnections depends on stable and effective organization of their functioning and how much their functioning meets their objectives in economy. The article analyzes key indicators of commercial banks’ work, identifies modern trends of their development under the influence of crisis phenomena in the republic and shows challenges of the banking sector, which can threaten its stability and reliability. The author substantiates the necessity to design a set of steps aimed at increasing effectiveness of banks’ functioning, which could allow the credit system to fulfill its tasks in full and contribute to the development of economy in the republic.
ACCOUNTING AND STATISTICS
The article provides comparative analysis of provisions of the Russian accounting standards and international finance accounting standards concerning fixed assets recording. The authors offer a new definition of fixed assets, which is based on similarity of definitions according to ISFA and RA. The goals of accounting fixed assets were given. Conditions necessary to recognize the asset as an item of fixed assets were described. Types of vale of fixed assets according to RA 6/01 and ISFA were given and their comparative analysis was made. Instructions concerning estimation of fixed assets value were provided for different variants of their coming to the organization: in case of depositing by founders to the authorized capital, buying from manufacturers, independent manufacturing, obtaining through the donation contract, exchanging to other property. The article pointed out to cases when balance value of fixed assets shall be altered and showed the procedure of fixed assets accounting from the moment of their putting into operation. It underlined the idea that ISFA 16 and RSA 6/01 pay serious attention to this problem but in different ways. Specific features of fixed assets accounting in logistics complexes were described.
THEORY AND PRACTICE OF MANAGEMENT
The article explains the key notions of proprietary management of business, i.e. technology of building the system of company management. The authors provide an example of the business-model of proprietary management of organizations in the field of trade. It is shown that the proprietor performs specific functions of business development connected with control and its development. A lot of proprietors do not use in full their opportunities to control and develop business. The majority of them have got only superficial ideas about components of this work, but not a comprehensive vision. Some proprietors decide to act as top managers themselves, which creates an illusion of business development control. In order to overcome this contradiction the article puts forward a business model with value chain. It could build an effective proprietary management of business.
The importance of developing the natural gas liquefaction industry in the Russian Federation is caused by political and economic reasons. In contrast to pipeline export gas supply, when Russia gets into serious dependence on transit countries and countries consuming gas liquefied natural gas (LNG) provides an opportunity to manoeuvre volumes and directions of sales. Due to the fact that the Asia-Pacific region is taking the leading positions in global gas consumption Russian oil and gas companies need LNG to re-orientate gas flows in the eastern direction. The author shows that in order to build the advanced highly technological gas industry Russian companies today should set the foundation for refinery of traditional natural gas and oil gas and methane from coal layers too get liquefied synthesis-fuel of high quality. In the near future Russia should take a leading position in the global trade on highly technological gas produce.
The article analyzes possible advantages of state-private partnership in the ‘400 days’ reform. To solve the problem of unreliability of estimate ratings the entropic approach was put forward. The use of the conventional entropy indicator allows us to realize negentropic approach to managing the processes of development and enhancement of estimate standards. The author shows the ways of resolving the problem in the aspect of enhancing the system of pricing and estimate rating through interaction of business and power by establishing a joint research center. The center will function by using the advanced methodological tools for development and enhancement of estimate standards based, in particular on the concept of negentropic management and other up- to-date managerial theories and methods.
The article provides findings of the research of governance system for municipal programs and projects, grounds the need and summarizes stages of the governance system development in bodies of municipal power. On this basis the authors formulate the tasks of raising efficiency of the governance system and forecast future academic results in the form of methodological recommendations dealing with the development of the system of small business support based on the system of balanced indicators and patters of processes of governing the implementation of programs supporting entrepreneurship. Academic novelty is an approach to considering the governance system of municipal administration, where focus is made on managing programs and projects as one of the most important tools of developing the municipal structure. The importance of adaptation and use of modern tested technologies of governance is underlined as in many municipal structures there are no practices of using such tools. The author classifies the levels of systems of municipal governance, which consists of five stages and shows the key set of governance tools: the draft system of balanced indicators, composition of appraisals of the quality of program and project implementation, methodological recommendations connected with designing and developing the governance system and with configuration of processes of project office in the system of managing program and project implementation in the municipal structure.
The article shows the algorithm of designing the system of governance for organizations functioning in service sector. Components of the governance system architecture are given, such as object of governance, subject of governance, goals, managerial decisions, strategy, governance processes, regulations, organizational structures, risks, indicators and key stages of designing of the system of governance for organizations in service sector, i. e. identification of projects, projecting of the object of governance, goal setting, identifying indicators, units of measurements, planned and current values, shaping events aimed at attaining the set goals, identification and assessment of risks (distribution of risks by zones), directed at attaining the set goals, development of events aimed at minimization of risks, identifying the model of business processes, building the organization structure of governance, development of regulations). The author formulated the model of the system of governing organizations in service sector on the basis of technologies of the process-project approach to governance. This model includes the pattern of the value chain, which is used for building the object of governance in service sector. The article also provides tools for assessing the efficiency of the system of governing organizations functioning in service sector.
MARKETING, LOGISTICS, SERVICE SECTOR
From the point of view of getting profits dividend policy is an important factor for investors. It is analyzed regularly, however it is mainly fragmented and does not show changed taking place. As for companies of technological sector earlier theoretical provisions concerning dividend policy need certain corrections. The article provides an empirical testing (based on regressive analysis) of the link between the level of company maturity and the size o dividends paid by it, which is one of the key provisions of G. & L. DeAngelo theory. It is pointed out that these conclusions did not prove the idea of using indexes identified by G. & L. DeAngelo to explain dividend policy. The authors put forward a new model of analysis of factors, the main of them is the indicator of the company net profit for the year previous to the year of paying dividends.
The article tries to formulate and show the principle trends of global economy, such as globalization and informatization, which impact the world fashion market. It summarizes the world experience of state support of enterprises’ export activities abroad and analyzes current state measures of support to export of Russian enterprises and the efficiency of promoting the brand ‘Made in Russia’ and the program of production localization in Russia. The author discusses the problems of controversial customer demand – escapism and hedonism and shows ways of their solving through differentiation of company activity in fashion industry aimed at target audience extension.
The article shows that for the effective development of intellectual business service sector infrastructure and relations standardization are required. It analyzes losses caused by entrepreneurs’ mistaken perception of their participation in projects with outside experts’ attraction. The author analyzes the experience of further professional education, as well as special research for engineering sphere. It was pointed out that one of the urgent steps is standardization of the education field. Shaping the demand for business services is promoted by education and activity of public organizations but at the same time by state governance of economy.
The article explains the idea of such a notion as product rage management, which is being considered on the same plane as category management. The author analyzes the current methods and approaches to shaping and managing the product range of the trade enterprise and provides their comparative characteristics and on this base shows specific features of using different methods in conditions of business activity. It was pointed out that in key trade formats marketing approach is mainly used, i.e. product range management is carried out depending on the customer profile. Trade enterprise format is identified as a key factor influencing category formation. The principle idea of the article is the paramount importance of identifying category in the system of category management, which underlies all business processes.
WORLD ECONOMY
The article analyzed the structure of inflow and outflow of direct foreign investment in China during the last decade. The author shows specific features and trends of investment cooperation with key economic partners and Chinese jurisdictions (Hong Kong, Taiwan). The sectoral principle of distributing the flow of direct foreign investment was discussed, which is used for raising and export of foreign capital in industries and service sector to safeguard interests of national security of China economy. The article pointed out to the impact of M & A deals as an alternative to investment projects from the ‘green field’ on Chinese economy growth. It identifies problems connected with disproportion in the development of industrial sector and service sector of the western and central parts of the country and seaside regions. The author demonstrates the key factors and trends in the active expansion policy of Chinese capital on foreign markets at the current stage.
RUSSIAN HISTORY
The article describes key problems, which the Russian Plekhanov Academy of Economics faced during the years of reforms and steps taken by the Academy administration in the late 1980s – early 2000s in order to overcome them and reorganize the Academy structure. The qualitative and quantitative growth of the Academy, its social sphere, academic and scientific work, material and technical base and its development were considered. The authors demonstrated a layer of sources, which had never been used in research. For the first time the process of democratization of the Academy administration was investigated, such as extending rights of education institution students and structural changes that took place in the Academy during the period were analyzed. Findings of the research create the foundation for further investigations in this direction and can be use for further reforms in education institutions.
The article explains the notions ‘trade union’ and ‘employer’. Historic review of the trade union movement in Russia is described. Trade unions were legalized in Western countries in the 30-90-s of the 19- th century, while in Russia it took place on the turn of 19th – 20th centuries. Changes in the union movement after the October revolution 1917 are shown, such as new responsibilities of socialist trade union organizations, organization of labour socialist competition, educational work. In 1921 the newspaper ‘Trud’ was published, which is a body of the All-Union Central Council of Trade Unions. In different periods the role of trade unions increased and dropped. Nowadays trade unions acquired organizational independence. The work of trade unions is regulated by the Constitution of the Russian Federation. The government of Moscow, Moscow associations of trade unions and Moscow associations of employers concluded a three-sided agreement in order to guarantee the interests of employees, employers and bodies of executive power in social and labour relations. The trade union organization of the Russian Plekhanov University of Economics and the University administration concluded a collective bargaining, which takes into account specific features of the University and coordinates the parties’ interests in acute problems.
HISTORY OF PHILOSOPHIC THOUGHT
The article presents achievements of a number of social and humanitarian sciences in the field of designing a model of ‘economic person’ and mentions difficulties of making such a model. The article is acute due to the necessity to create a new management culture in today’s Russian society. The author shows the key problems of designing the model of ‘economic person’, which demonstrate both economic and social-philosophic nature, such as correlation between society and economy, factors of economic life development, economic consciousness, economic relations and economic interests of different social groups, types of personality in economy. It was pointed out that in social philosophy man is considered as a subject of economic life of society. The author touches upon the problem of establishment and development of humanistic management in Russia. The needs of social and economic development make us use social science achievements in the field of the ‘economic person’ research in practice of economic life. In particular the author underlines the necessity to introduce further education for managerial personnel, which could help overcome the simplified idea dominating Russian effective management of a man being an object of economy. The need to strengthen the ties between management culture and values of Russian culture and specific features of Russian mentality is demonstrated.
ISSN 2587-9251 (Online)