The article investigates history of the country education since the 16th century and describes social and economic factors that influenced its development. Special attention was paid to sources of commercial education and circumstances, when the Moscow Commercial Institute, later the Russian Plekhanov University of Economics was founded. The authors provided the detailed evolution of the education system in Russia and specific features of country education that came into being at each stage of its development. Problems of women’s education and history of first women’s higher education institutions were highlighted. The period of the late 19th up to early 20th century, when first Russian higher commercial education institutions were established was specified in detail. The role of public organizations and Russian entrepreneurs – Maecenas was demonstrated as their activities helped develop the system of country economic – commercial education. Special attention was given to the Moscow Society of Commercial Education Proliferation and its chairman A. S. Vishnyakov, who contributed greatly to the development of commercial school and college network and to arising of the first specialized higher education institution, i. e. the Moscow Commercial Institute (1907). The research pointed out to key features of the prerevolutionary system of commercial education and revealed its non-governmental character and the role of charity on the part of biggest entrepreneurs and industrialists. The article describes the way arising capitalist system influenced development of Russian commercial higher education institutions.

Today’s inflation becomes more and more complicated and new types of it came into being. In theoretical aspect the author showed and summarized key characteristics of agflation by such symptoms as reasons, indicators, negative and positive impact in economy and anti-agflation mechanism. Agflation can influence agricultural industry in a positive way, while economy in general suffers certain costs. In struggle against agflartion we can identify tactical and strategic measures, which differ in time horizon. The article analyzes present day examples of agflation, their reasons and consequences. Empiric analysis of agflaion showed its strong dependence on geopolitical tension in the world. Analysis of ‘price discrepancy’ demonstrated that price on manufactured goods rises, only when the growth in prices on agricultural produce is lower. Lately we can observe greater widening of ‘price discrepancy’, which in its turn can make the re-distributional effect in economy stronger. The necessity of active regulation of pricing processes in agriculture was explained.

The article studies the complex method of assessing chain value oriented towards analyzing complicated business-models of chain enterprises in conditions of digital economy. In contrast to present approaches mainly based on special indicators or linear parameter aggregation the research deals with the concept of integral appraisal taking into account non-linear and synergetic character of interaction between chain participants. The key result of the research is formalization of chain effects as a sum total of interdependent factors showing the chain structure, nature of value flows and features of stakeholders’ interaction. It was grounded that such factors cannot be considered in isolation, as their impact is evident through mutual strengthening and suppression. For correct accounting of this interaction it is necessary to use fuzzy measure and integral aggregation that allows us to model the effect of interaction of factors with different nature. The given method makes it possible to get a unified integral indicator, which demonstrates the rate of chain value and business-model sustainability. Apart from that the analytical set of tools was formed that allows us to identify the contribution of some factors and groups of factors and to find zones of positive synergy and critical fields restricting the chain development. It can provide an opportunity to pass from descriptive analysis of chain effects to formalized support of managerial decisions. Scientific innovation of the research deals with combination of tools of value flow analysis, identification of stakeholders and body of fuzzy integral appraisal within the frames of unified methodological scheme. The research findings can widen our ideas about mechanisms of chain value formation and supplement the present theories of chain effects through taking into account quantitative characteristics of interaction and their aggregation into integral form. Practical importance of the research includes the possibility to use the proposed approach to assess efficiency and sustainability of digital platforms, to choose lines of business-model transformations and analysis of managerial decision consequences. The given methodology can be used in strategic planning, digital ecosystem projecting and monitoring the development of chain enterprises in the long term.

The article studies current methods of foresting non-stationary time series effective to analyze social and economic systems, finance markets and other fields with high rate of uncertainty. Comparative analysis of classical approaches (ARIMA, GARCH) and their modifications was carried out as they take into account structural changes, non-linear dependences and exogenous factors. Special attention was paid to neural network methods, including LSTM, transformers (Informer, Autoformer) and their hybrid versions that demonstrate high efficiency working with long successions. Apart from that adaptive methods were studied such as sliding window and their integration with machine learning to raise accuracy of forecasting in conditions of uncertainty. The research includes critical analysis of restrictions of classical models ARIMA and GARCH, the review of current architecture of neural nets for time series, practical aspects of choosing models depending on data characteristics, promising lines in developing methods, including adaptive algorithms and ensemble approaches.

The principle value of science is that it identifies trajectory of civilization development, including social one, as it is a social institution. Its paramount task is to take humanity to a higher stage of development. The goal of the research is to trace the way scientific activities affect the development of the country, society, all spheres of life and quality of the scientist personality. The authors showed how opportunities to implement academic innovation can influence the level of mankind development and highlighted potential risks connected with this process. The research used methods of forecasting and summarizing, comparison and analogues, classification and experts’ appraisals, as well as information and analytical materials based on opinions of recognized academic authorities. The article used the practical-oriented approach to studying innovation and social role of science. Trends of state policy and academic investigations were analyzed, as well as advanced technologies of introducing scientific achievements in today’s life.

The article studies the acute problem of assessing economic efficiency of non-profit making organizations (NPMO) in the Russian Federation. The author explains that traditional finance certificates do not show the whole range of NPMO activities, as they ignore qualitative social changes, multitasking and diversity of the sector. As a solution the method of multi-criteria analysis ELECTRE (ELimination Et Choice Translating REality) was advanced, which helps conduct complex appraisal on the basis of various criteria. The research studies in detail the algorithm of ELECTRE method, including stages of NPMO alternatives development, identification of weighed criteria (social effect, finance efficiency, scalability and others), plotting matrixes of agreement and disagreement. Practical use of the method is demonstrated by numerical example of comparing three typical NPMO working in the field of aid to children. Calculations show that this method identifies the most efficient organization (Association ‘Professionals’) by ranging variants even with non-evident results and taking into account compromises between criteria. Introduction of ELECTRE methodology in practical work of grant-providers and regulators can give an opportunity to pass from subjective appraisals to transparent, structured and well-grounded process of decision-making by raising efficiency of resource distribution in the non-profit making sector and by increasing its social effect.

The goal of the research is to study specific features of the organization of innovation activities dealing with the development of Russian bio-economy and searching for ways of raising its efficiency. The author provided results of analyzing key trends of developing home bio-economy, including production of bio-fuel, work connected with getting and selling of new bio-foodstuffs, production of bio-produce with direct or indirect medical purpose and work oriented to utilization of different organic waste and protection of the environment. It was pointed out that the current bio-product market evolution makes it necessary for production organization to estimate the importance of certain organizational and economic factors influencing the development of productive and sales chains, closed production cycles and biologization of industries in general. The article provides key evolution changes in the concept of organization of economy innovation development from the so-called model of triple helix with interrelations of three groups of economic actors named university-industry-state to multi-helix models. Specific features of multi-helix models, which are important for home bio-economy, were studied and a new model of heptahelix was put forward. On the basis of the collected materials a conclusion was drawn that key conditions necessary for effective development of home bio-economy include training of qualified personnel, who can provide this work.

The article studies the approach to long-term forecasting of the economic development of the Donetsk People’s Republic (DPR) in the Russian Federation for the period up to 2040 by using neural net algorithms. The research is quite acute, which is stipulated by the necessity to build DPR and the city of Donetsk economy into unified economic space of the Russian Federation and by limited volume of statistic data of the region, by high uncertainty of the external environment and the goal of shaping well-grounded land-marks of strategic planning of social and economic development. The hybrid generative model combining Conditional Variational Autoencoder (CVAE) and generative-competitive net Wasserstein GAN (WGAN) supplemented by neural net mechanism of imputing time series gaps (TimeVAE) was put forward as a methodological basis of the research. The model was taught on multivariate time series of social and economic indicators of the Donetsk People’s Republic and regions of the Russian Federation comparable by structure and set of industries, such as Rostov, Sverdlovsk and Kemerovo regions. It can help take into account both common regularities of regional development and specific features of the territory being studied. The model was tested on selected regions and showed sustainable quality of forecasting for the period up to 2 years. On the basis of adjusted model the principle scenario of dynamics of gross regional product and key macro-economic indicators in DPR up to 2040 was developed. The obtained figures demonstrate the potential of restoration growth of regional economy with gradual transition to moderate growth rates in the longterm. The research analyzes specificities of smooth trajectory of the forecast stipulated by probabilistic nature of the generative model, character of initial data and in-built economic restrictions. Benefits and restrictions of the proposed approach are being discussed, as well as opportunities of its use in the system of strategic planning of regional development.

The article provides a content-analysis of scientific approaches to transformation of customer behavior in conditions of digitalization. Findings of the empiric research in the Donetsk People’s Republic showed formation of the hybrid model of customer confidence, where social approval and algorithmic recommendations balance each other. The key change is a shift in the hierarchy of choice factors: service characteristics (convenience of purchase, delivery and customer pick up) became more important than traditional aspects, such as price and quality. It was found that the growth in online-purchases and their spreading are hindered mainly by psychological barriers but not economic ones. The principle obstacles are risk of fraud and difficulties of product refunds, while delivery cost moves to the category of negligible importance. It alters the usual view that price is the primary restriction in buying products. To substantiate managerial decision in this situation integrated approach to researching customer behavior was put forward, which can structurally combine empiric, methodological, segmentation and managerial blocks in the continuous cycle of feedback. This approach can be practically useful as it helps retailer transform data of customer behavior patterns into concrete managerial decisions by adapting technology and forms of buy and sell process to the fast changing digital environment with regard to regional specificities.

In the context of global challenges, such as fast introduction of Industry 4.0 technologies realization of the impact of digital competences on regional development gains strategic importance for sustainable economic growth and social stability. The article provides a review of available investigations highlighting significance of digital literacy as a key factor of raising competitiveness of regions and sustainability on global labour market. Special attention is paid to elaboration of the author’s model of digital competences of labour resources in region, which covers not only technical aspects of digital tool mastering, but also adaptation ability in conditions of work and study in the digital environment. The proposed model targets at raising efficiency of digital resource use and stimulating innovation development in regional economy. The article demonstrates principle effects highlighting key aspects of raising the level of region development based on digital competence progress. The development of digital competences and their impact on the level of social and economic development of regions were evaluated. The goals of the research are to investigate the impact of digital competences on regional development, to elaborate an original model of digital competences of labour resources in region, to work out practical recommendations and strategies promoting effective use of digital competences to stimulate economic growth and social progress in Russian regions in conditions of the 4th industrial revolution. Findings of the present research can be used by leaders of regions for elaborating development strategies.

The article studies standing of institutional investors on finance market during ESG-transformation. Focus is made on two types of finance intermediaries representing capital to participants of finance market corporate sector: investment funds and credit organizations. The authors found that institutional investors act as a link between finance market regulators and other participants of economic relations in the process of ESG-transformation. It was proved that active ESG-transformation of finance market started after 2015, when regulation documents of fiduciary responsibilities of institutional investors with regard to ESG-indicators came into being. At the same time the authors provide reasons why institutional investors prefer incorporate issuers’ securities that meet ESG criteria. The authors also explain why institutional investors take an active part in ESG-transformation of finance market, promoting, firstly, creating the trend for long-term investment to strengthen financial stability and secondly, reducing the necessity to elaborate and adopt modal legislation supporting the current rate of freedom of economic relation acceptance.

The article provides a complex analysis of the standing and prospects of green finance and ecological investment development in Russia. The research is based on systemic approach to studying conceptual foundations of ecological financing with the use of statistical, comparative and expert methods of analysis. Evolution of international standards and taxonomy of green projects was studied and advanced tools of ecological financing were analyzed. Special attention was paid to estimation of ecological investment efficiency, which uses different methodological approaches. On the basis of acute data the detail analysis of Russian market of green financing was carried out, including its volumes, structure and development dynamics. The article identified key specific features and problems of shaping home market of ecological investment in comparison with international trends. Serious differences in branch structure of green financing in Russia and industrialized countries were identified. The authors estimated the current standing of the system of green financing tools. The research findings have practical value for the development of ecological financing in conditions of necessary transition to sustainable economy development. Key barriers to the development of green financing in Russia were identified and classified with regard to their interconnection and influence on market. Priority trends in state support of green financing were found, including direct and indirect measures of stimulation.

State and municipal finance control act as one of the key mechanisms that provide revealing finance infringements in using budget resources, elaborating suggestions aimed at their banning in the future and in case of necessity restoring budget funds used inefficiently. In order to raise effectiveness and efficiency of state and municipal finance control it is advisable to use opportunities of digital tools. At the same time insufficiency of finance resources canseriously hinder the process of control work digitalization. It envisages the necessity of elaborating innovation approaches, which can in conditions of finance shortage, provide digitalization of the activities of bodies of state and municipal finance control.

The subject of the present article is study of conceptual specificities of finance literacy and its impact on finance behavior of the population, sustainable development of the economic system. The article provides a review of finance education evolution. The level of finance literacy was estimated with regard to data of the Bank of Russia, NAFI Agency and investigations of the Resource Centre of volunteers of finance education in the Bryansk region. The research showed that finance literacy impacts consumption smoothing. First of all it takes place due to savings and their diversification. In view of state and region improving of finance literacy can allow us to see on finance market rational investors assessing all risks and diversifying investment.

This article assesses the transmission mechanism of federal fiscal policy in Russia and the consequences of fiscal stimulus for both the national economy from the federal budget. Understanding the effects and mechanism of fiscal policy transmission, taking into account the specifics of the economic cycle, is crucial for shaping a positive response of Russian economic indicators to changes in fiscal and debt instruments. The purpose of this article is to provide a comprehensive analysis of the channels, features and key problems of the transmission mechanism of fiscal policy in Russia. To achieve this, the following aspects are consistently explored in this work: the specifics of fiscal transmission channels, the impact of fiscal decisions on economic development, and systemic problems that reduce the effectiveness of fiscal impulse transmission. The author defines fiscal transmission and identifies and systematizes its key channels, including the aggregate demand channel (expenditure channel), revenue channel, credit-debt and interest channel, foreign exchange channel and asset channels, as well as the specific impact they have on fundamental economic indicators and the federal budget balance parameters. The greatest attention is paid to the aggregate demand channel, which demonstrates the greatest response to the budget impulse. A study of fiscal transmission mechanisms in the Russian economy found that budget stimulus has a positive economic impact in the relatively short term, while in the long term it worsens lending conditions and contributes to rising inflation expectations, ultimately necessitating a transition to fiscal consolidation. The dominance of fiscal objectives in the tax channel and the high centralization of tax decisions, the priority of federal spending on national defense in the expenditure channel, constant adjustments to the fiscal rule, and the low liquidity of sovereign reserves weaken the positive responses to fiscal impulses and ultimately lead to a slowdown in economic activity. To minimize the negative consequences of the fiscal impulse and enhance its positive impact on the economy, it is necessary to reorient federal spending priorities while strictly enforcing compliance with the fiscal rule, stabilize the tax channel and weaken it to support economic activity, and create sustainable institutional mechanisms for coordinating fiscal and monetary measures.

When studying the impact of economic cycle stage, including crisis, on management of investment portfolio it is necessary apart from portfolio profitability to take into account the maximum rate of possible losses, which the investor is ready to work with, i.e. risk-appetite as a separate factor influencing the choice of investment strategy. Moreover, a serious matter in managing investment portfolio is identification of time before the change of economic cycle stage, when it is necessary to re-orient the investment portfolio. According to the author, there is a time lag that correlates with economic cycle stage and possesses certain time duration between re-orientation of investment portfolio and change of economic cycle stage to achieve the optimum investment portfolio, in view of risks and profitability for investor. Due to the fact that each investor has got their own rate of risk-appetite, the optimum re-orientation of portfolio with regard to the time lag shall be discussed with individual rate of risk-appetite. The article provides today’s definition of risk-appetite and analyzes investor behavior in view of risk-appetite rate in different stages of economic cycle. In the research the author used methods of logical, dialectical and statistical analyses and conducted a review of relevant literature and information sources.

The article deals with investigation of practices of adapting flexible methodologies (Agile) in corporate structures in IT-companies. Theoretical foundations and the essence of Agile are studied and key challenges of adaptation are analyzed, including hierarchical nature, resistance to changes and cultural features. Examples of successful Agile introduction in international corporations were shown. On the basis of analysis key factors of success were identified and practical recommendations on efficient integration of Agile approaches were provided. The most important conditions for adaptation were highlighted: gradual introduction, in-company expertise building, top-management support, hybrid organizational models that combine flexibility and corporate discipline, digital infrastructure and through analytics. A conclusion was drawn about promising nature of Agile for raising efficiency and competitiveness of IT-companies.

The article analyzes results of estimating innovation potential of the Russian steel-making enterprise, Novolipetskiy Iron and Steel Works, which was investigated in view of the impact exerted by digital component. The research was conducted in line with the innovation strategy from the standpoint of its goal attaining. The authors analyzed risks of introducing the project of business-process digitalization at steel-making enterprise by the method of risk-analysis and forecast results of project introduction by scenario method. In the research the conclusion was made that successful introduction of digitalization project can seriously raise the level of innovation potential, which in its turn can promote realization of innovation strategy targets. Apart from that the role of digitalization of business-processes at steel-making enterprise was assessed in view of building its innovation potential on the basis of its estimation and degree of reaching goals of innovation strategy. The research was conducted by methods of PEST-analysis, scenarios, expert appraisals, branch and statistic analysis. Finally, the research showed that the level of innovation potential at the enterprise can be seriously raised in case digital component is strengthened.

The article analyzes transformation of business-models in inter-organizational interaction in conditions of ecosystem shaping as a specific form of economic activity organization. It was shown that in contrast to hierarchical, chain and cluster models ecosystems are characterized by multilevel architecture of interactions, co-evolution of participants and orientation towards joint value creation. The goal of the research is to identify key mechanisms of coordination and business-model types that are formed in the eco- systemic environment and to substantiate their managerial consequences. Methodological basis of the research is formed by systemic and institutional approaches, provisions of strategic management and comparative analysis of theoretical interpretations of inter-organizational interactions. The research found that eco-systemic business-models stipulate redistribution of participant roles, erosion of organizational borders and transition from linear logics of value creation to the model of collective value proposal. It was grounded that coordination in ecosystem is carried out mainly through architectural and institutional mechanisms –rules of participation, standards of interaction and tools of interest agreement but not through direct administrative management. The obtained results provide an opportunity to specify the content of eco-systemic business-model notion and widen theoretical ideas about current forms of inter-organizational interaction. Practical importance of the research is connected with a chance to use the present conclusions in the development of managerial mechanisms and assessment of eco-systemic structure efficiency, including the field of higher education. 

Sports industry with global impact and numerous resources renders serious influence on the environment and society. The rise in event scale, increase in resource consumption and realization of global challenges, such as climate change, social inequality make systematic introduction of principles of sustainable development (SD) in sport extremely important. The goal of the research is to carry out all-round analysis of key mechanisms, initiatives and practices of SD integration principles in sports industry focusing on managerial standards, international programs and appraisal of ecological track. The article studies the link between concepts of corporate social responsibility (CSR), sustainable development and ecological, social and managerial aspects (ESG) in sports context. The research analyzed the role of international standard ISO 20121:2012 and key initiatives of the International Olympic Committee (IOC) (‘The Agenda for the 21st Century’, Rio-de-Janeiro and Bangkok declaration) in promoting SD. The authors systematized key types of negative ecological impact of sports industry and assessed their ties with the UN Goals of Sustainable Development (GSD) of the ecological cluster and conducted comparative analysis of CSR, SD and ESG concepts as managerial paradigms for sports organizations. A universal patter for elaborating strategies of sustainable development for sports events was worked out. In the research the authors used methods of systemic analysis (sport was considered as a complicated system), comparative-collative analysis (comparison of CSR, SD, ESG), benchmarking (comparison of concept characteristics), content analysis of international documents (standards, declarations, strategies) and classifications (systematization of impact types and their links with GSD), SWOT- and PEST-analyses of processes and events in sport. The research demonstrates progressing SD institutionalization in sport through introduction of standards (ISO 20121) and assuming of declarative responsibilities (IOC and others). Evolution from separate CSR programs to strategic integration of SD principles and further on to operationalization through ESG-approach was revealed that requires deep changes in business-models. All-round ties between ecological impact of sports (affecting mainly ecosystems of land) and widerange of GSD were identified, which underlines the necessity to prioritize measures of environment protection. The article substantiates the need to pass from spot initiatives to systemic management of sustainability at all levels of sports industry.

Literature sources and content-analysis confirmed the importance of developing adequately organized corporate system of project management. Analysis of different approaches to organization of corporate system of project management and to shaping project offices can help elaborate a plan for introducing this organizational structure within the frames of project activities of IT-companies. The research is acute due to the fact that introduction of corporate system of project management is a complicated matter that first of all requires serious organizational changes. However, the experience of business is insufficient, especially in the content of IT-companies irrespective of their size. The correctly built corporate system of project management can provide necessary conditions for effective project management and provide project teams and project managers with unified methodology, processes, tools and means of control. All together it can make project implementation easier and at the same time it can raise quality of results.

The article provides theoretical-game model of voting in decentralized autonomous organization, where honest participants and evil agents meaning harm to the system strategically interact. To restrain harmful behavior mechanism of reputation tokens, i.e. intangible assets accumulated for conforming voting and lost in case of inactivity or confronting decision. The access to voting is given only when the minimum reputation threshold is exceeded. The model shows the introduction of reputation can transform one-step dilemma of participation into dynamic game. The key result is identification of two principle types of balance: mixing one, when evil agents behave like honest for a certain period of time in order to accumulate influence for the future attack and separating one, when they reveal their type quickly and are expelled from the system. Analysis shows that mechanism effectiveness depends drastically on its parameters (amount of rewards and fines) and informational structure: complete information of agents about proposal value can raise effectiveness of goal-oriented attacks. On the basis of this analysis recommendations were provided for designing sustainable systems, including the necessity to combine reputation with other mechanisms (quorum, delegation) and adjust parameters with regard to the share of evil agents.

In the last two decades retail trade has undergone serious changes, today it offers customers to buy goods at new for consumer market retail facilities, i.e. internet-stores and on digital trade platforms (digital retail facilities). The rising customer desire to buy goods at digital retail facilities affects traditional retail outlets, which often stipulates reduction of their number. The article pays special attention to studying statistical importance of the link between the frequency of retail facility calls, the choice of retail space type to buy foodstuffs and manufactured goods and intended place of buying goods with customer characteristics being studied. The obtained statistical indicators confirmed the author’s hypothesis about the impact of customer characteristics being studied not only on the choice of retail facility but in general on functioning retail chain of retail facilities in the city. The author recommended to use the found impact of age and category of city of living on the choice of retail facility in elaborating long-term plans of developing retail trade both on national and local level.

Artificial intellect (AI) renders serious influence on today’s marketing by transforming methods of company interaction with customers. AI integration includes the use of machine learning algorithms, processing natural language and other tools to analyze big data in real time. It gives an opportunity to understand customer preferences in a deeper way and propose highly personalized content. Chat-bots and virtual assistants based on AI can improve customer service and increase client involvement. It was predicted that AI market in marketing will go on growing. According to the research company ‘Grand View Research’ the volume of the market will make up $ 267.92B by 2030. The author showed that such technologies will find wider use in creating content, analyzing customer behavior and elaborating individual advert campaigns.