ACTUAL PROBLEMS OF ECONOMICS
In this article, the firm was mainly considered as a production facility, in connection with which a brief analysis of the fundamental theories of the firm, reflecting the influence of intra-production factors on the behavior of the enterprise, was given. Approaches related to agent-based modeling, variants of neoclassical theory, J. Forrester’s theory of industrial dynamics were disclosed. In this material, theories of the firm focusing on accounting for the influence of managerial and institutional factors on the firm’s behavior are analyzed. Theories of the firm as a subject of management and institutional theories of the firm are considered. Brief characteristics of the theory of agency relations, behavioral theory of the firm, the X-efficiency theory, organizational and evolutionary theories are given. The primary task of this study is to develop a compact system of indicators that characterize the firm and make it possible to systematize the known and potential theory of the firm. The systematization form is a matrix reflecting the behavior of the firm on the one hand, as a socioeconomic system from the point of view of its internal filling, boundaries in the socio-economic space, place in the national economic technological complex; on the other hand, as an industrial object, a subject of management, a social institution. A system of coordinates in the space of the theories of the firm, allowing to determine the place of each theory in this space, to justify their natural grouping and to outline promising directions for creating new and integrating well-known developments in the field of theory of the firm is proposed.
The article reveals the features of factors of economic growth in Russia in conditions of global turbulence and “new normality”. The discussion on stimulating economic growth in Russia by monetary policy is analyzed. An econometric model that confirms the dependence of the level of monetization of the Russian economy on the dynamics of the monetary base determined by the central bank is given. Factors of economic growth that are significant for the Russian economy are highlighted, these factors are the dynamics of investment in fixed capital, the dynamics of world oil prices, and the dynamics of the real money supply. The article presents an econometric model that shows the dependence of the growth rate of Russia's real GDP on the three above factors. The forecast of the dynamics of Russia's GDP in 2018–2020 is given in comparison with the forecast of the Ministry of Economic Development. High importance of the factor of investments into fixed capital is underlined and the necessity of transition to a new, investment-oriented sovereign model of the Russian economy growth is justified.
The article analyzes the evolution of approaches and the development of methods of economic assessment of damage from environmental pollution. It examines the stages of improving and deepening the mechanism of formation and compensation of environmental costs of production in the context of the challenges of environmental management at the regional level. The authors examine the period from the last quarter of the 20th century to the present. This gives an opportunity to demonstrate the development of methods for economic valuation of provoked and preventable damages and their results for addressing the regional and Federal levels. These results may be used for the equitable distribution of environmental investments in the regions, for ranking the regions according to the degree of environmental hazard, and assessing the effectiveness of environmental protection measures and programs. Includes the new methods of evaluation of the past (accumulated) damage concerning the cascade effect of the economic assessment of damage in emergency. Considers approaches that allow to assess preventable damage, taking into account risk factors and uncertainty. Shows the evolution of approaches to evaluation and methods of determining economic damage from environmental pollution, given the solution of specific economic problems, including the determination of the size of compensatory payments for environmental violations, the elimination of accumulated environmental damage, preservation of natural capital through the development of resource conservation and recycling, etc.
The article reveals the content of the conceptual construct “building-in of corporate capital” as a process of embedding corporate capital into the national economy in the conditions of dynamic and profound transformations. In the process of its formation and development, domestic corporate capital experienced the negative impact of many factors of market reforms implemented in the Russian economy, which led to its ugly deformation. These processes resulted in built-in restrictions on the process of corporate capital formation into the transformed Russian economy, which, in the face of increased competition at the present stage of development, lead to the increase of competitive positions and the expulsion of domestic corporations to the far periphery of the global evolutionary process. The authors analyze the strategic scenarios and tools of social responsibility in the conformation of corporate capital of the Russian economy, evaluate the various effects that are formed in this process, establish arising in connection with these scenarios, the possibility and limitations. The authors investigate the problematic components and contradictions of corporate capital conformation, offer tools for managing this process. The article contains recommendations on the coordination of the structural component of the state economic policy addressing the corporate sector. The authors’ results belong to one of a new and promising areas of economic research, which determines the significant novelty and debatable nature of the provisions, conclusions and recommendations presented in this article. In the process of research the resources of the theory of limited rationality, cognitive economy, the theory of intellectual capital, cognitive capabilities of an interdisciplinary approach are used.
ECONOMICAL POLICY AND ECONOMICAL PRACTICE
Proposed the analysis of key issues of the contemporary Russian fuel and power market. The urgency of its consideration is determined by the fact, that the complex of measures to reconstruct the economic relations in order to form the conditions for competition leading to noticeable increase of the efficiency of entrepreneurship has not been realized until now. In comparison with the “pre-reform” period (till 1990–1991) many important indicators that characterized the branch efficiency showed negative dynamics. There are serious problems in the contemporary Russian fuel and energy market, and they exert noticeable negative influence on its efficiency. The analysis of these problems is based on the evaluation of its characteristics’ correlation, mechanisms and procedures, characterizing the contemporary markets with developed completion conditions. It is structured along the following directions: institutional factors and possibilities of free competitive entrepreneurship; the role of government authorities in supporting conditions of competitive subjects interactions; consumers` sovereignty (role); conditions and mechanisms of their competitive behavior; problems connected with the lapses in information technological basis; long discussed problems, that have not found the practical solution. The conclusions were made, that Russia has not yet managed to accomplish the reforms in electric power sector and create the conditions for free completion and increase of efficiency of production process, transmission and consumption of electric power on the base of competitive procedures and stimuli. In these conditions, after almost decades of “running-in” the mode, started in 2005–2008, it is necessary to implement additional complex of measures to create the conditions in the market.
The structural approach to the creation of a marketing strategy for the scientific organization of the socio-economic profile develops in this study. The main principles of the strategy are formulated. It is shown that, on the one hand, the coordination of efforts is necessary to form a strategy, and on the other hand, the independence of scientists in conducting research should not be violated. For various organizational forms in the scientific organization: individual researchers, formal scientific units, for example, laboratories, informal collectives, collected for the implementation of a specific scientific project and a scientific organization as a whole, are chosen ways of financing research activities. With the help of Kleiner's system economic theory, distinguishes such methods of financial support for scientific organizations as object, process, project and environmental. Target groups, channels for promoting information on scientific results, and marketing tools are selected for each of the methods. It is shown that when planning marketing activities it is necessary to establish a correlation of the basic methods of financing a scientific organization. The marketing strategy of a scientific organization is based on marketing communications. The development of the main provisions of the communication policy of a scientific organization is considered as part of an integral marketing strategy of a scientific organization.
In the work a comparison of risk factors influencing the probability of a negative value of companies (stage of prebankruptcy), for various manufacturing industries: the range of financial variables and corporate governance factors. The idea of corporate financial architecture were confirmed in the Russian industry: factors affecting the corporate structure of the company (characteristics of the CEO and ownership concentration) can be effectively applied for the analysis of financial stability of companies along with traditional financial indicators, improving the predictive quality of the models. Good stability of the obtained results was confirmed by serial build and comparison of logistic regression with lasso regularization and logistic regression models for all subsets. Next, were confirmed the statistical significance of 88,1% of the explaining factors of all final specifications. During the study period 2011–2015 dynamics of the intensity of bankruptcies in the manufacturing sector were not always uniform. In the analyzed period were identified both specific and general risk factors for considered sectors. The forecast quality of the final specifications for the industries demonstrated its high level in the control samples, the value of AUC (area under ROC-curve) is in the range from 85,06% in metallurgical production to 96,12% in mechanical engineering. Empirical results show that the sectoral differentiation of risk factors in the Russian manufacturing industry can be taken into consideration by enterprises, credit institutions and regulatory authorities in the conduct of crisis management and branch transformation of the existing methodological recommendations for developing financial and investment policy of the company.
In the period 2006–2015 there was a growth of passenger air traffic on international and domestic commercial airlines. Growth frequency and flight geography required airlines to increase workload on pilots and attract new aviation personnel. However, in the whole world and, particular, in Russia, there is a deficit of pilots. The problem of pilots shortage in Russian aviation industry make worse by state measures for development regional airlines. In this case, research identified reasons for migration of qualified flight crews and developed a complex of recommendations, which allows saving the number of pilots in Russian air companies. Poll and in-depth interview with the Russian pilots (October–November 2016) allowed to identify the factors, which influence the pilots’ decision-making process about international labor migration. Additional quantitative analysis allowed supplementing the list of common factors with industryspecific variables, like airlines ranking, work time, flights’ geography, number of companies’ social programs. Finally, measures were proposed, that will help to keep qualified airpersonnel in home airlines.
WORLD ECONOMICS
After the collapse of the USSR, to ensure the economic growth and well-being of its citizens Azerbaijan made a bet on the development of export-oriented fuel and energy complex. First of all, it was about creating conditions for increasing the crude oil production and building the infrastructure for its export to foreign markets. Success was achieved by a combination of good governance, availability of national personnel in the oil industry and participation of foreign, primarily western companies, in oil projects. Foreign oil companies and their subcontractors brought in Azerbaijan not only technologies, knowledge and equipment but also invested their funds in many projects. Since 2012, when caused by natural causes the monotonous decline in crude oil production began Azerbaijan has entered the so-called “post-oil” stage of its development. And now it's about the need to develop industry and the agricultural sector of the national economy which will require an increase the competitiveness of the economy to another level of quality. Are the foreign investments the only or at least the dominant financial source for Azerbaijan? In this article the analysis of the state of money circulation of Azerbaijan is carried out, a number of problems which do not allow to accelerate the country's transition from the mono-raw export-oriented economic model to diversified model in which a significant share should take the processing industry is identified. Besides it, a different way of financial policy which should not only stabilize the monetary sphere of the country experiencing post-oil phase, but also to accelerate economic growth rate is proposed. The main financial source of such growth should be the loan in Azerbaijani currency – manat, which will be available for entrepreneurs and government. So this article is about the strategy of transformation of manat to the investment resource, which will support economic growth of Azerbaijan at the present historical stage.
HISTORY OF ECONOMICS
For normal life, man needs not only to satisfy his physiological requirements. He needs also over personal senses of life. And this requirement is no less acute. A man receives such senses from spiritual-ideological sphere, which includes religions, ideologies, philosophic-ethical teachings, sense attitudes. Its evolution is mostly independently, regardless of the development of technology, production, institutions. The causes of historical events and processes are both technological and economic development and socio-psychological attitudes that dominate in a particular community (people, organizations, social layer). In the twentieth century, the main historical processes were determined by the development and confrontation of ideologies of capitalism and socialism. Now the influence of both these ideologies has become much weaker. The article presents the development of the capitalist system, with the emphasis on the role of the dominant sense attitude setting. The picture of the beginning of the XXI century is given – the situation of spiritual and ideological uncertainty, the way out of which depends on the solution of the most acute modern problems.
SCIENCE LIFE CHRONICLE
BOOKSHELF
JUBILEES
ISSN 2618-8996 (Online)