Dela Press Conference Series: Economics, Business and Management

Problems and prospects for development of the coal chemical industry in Russia

Irina V. Gavrilenko — 2022-12-30

In the context of climate change and the mass refusal of countries to use coal as the main type of fuel, it is necessary to consider further prospects for the development of the coal industry. The purpose of the research was the development of the coal-chemical industry as one of such areas. This trend can be considered not only as a variant of using mined coal as a raw material for new products, but also as a trajectory for the economic development of the Russian Federation. The objectives of the research are to identify the problems of development of the coal chemical industry in Russia and consider further prospects for the development of the industry as their solution. The object of research is coal chemistry. The subject is a set of possible vectors for the development of coal processing. The study involved the descriptive, analytical and comparative methods. As a result of the research, the factors influencing the reduction of coal production and its use in the traditional way were examined, processes and products were identified that can become a driver for the development of the coal chemical industry and, as a result, the entire economy of the state. As a result, it was determined that the use of an integrated approach to coal processing will make it possible to effectively use its energy capacity and extract all valuable substances from it, and processed products will increase the added value of newly created products.

Customer experience in the formation of a value proposition in a digital environment

Ekaterina S. Bozhenko — 2022-12-30

The most important problem of the Russian tourism industry is the lack of consumer interest in domestic tourism services due to the existing negative customer experience and the lack of a value proposition that meets the real needs of consumers. The purpose of the study is to substantiate the importance of customer experience and the formation of a value proposition in the digital environment, to strengthen domestic tourism in Russia based on the results of a field study. To achieve this goal, the article presents the results of a selective marketing research by the survey method, which revealed causal relationships between the planned travel expenses of the population and the number of family members, the duration of the trip and the purpose of the trip, and also determined the influence of the independent variables "purchase condition" and "rest condition" on the planning of expenses of families with children. Calculations were made based on the methods of the theories of marketing research, strategic marketing and consumer behavior. Based on the results of the study of the customer experience of consumers, three target segments were identified, a portrait of consumers of each segment was described based on demographic, social and psychographic criteria, and a concept of strategic positioning was proposed. Based on the positioning of the service, a value proposition has been formed in each segment.

Russians’ historical memory of the great patriotic war of 1941-1945 in sociological research

Anna P. Romanova — 2022-12-30

This study dwells on the historical memory of Russians about the Great Patriotic War of 1941-1945. Based on the analysis of various sociological studies on revealing the attitude to the Great Patriotic War, as well as the authors’ research, we concluded that the historical memory about the war of 1941-1945 of the significant majority of Russians (in particular student youth) shows the continuity in their understanding of the leading role of our country in the victory over the enemy and its allies. The obtained data do not diverge from the official position of the Russian state on this key issue. It is important to note the fact that Russian families almost have no veterans who participated in that war. However, they keep carefully transmitting the information about the war events from generation to generation, which is an important component of the cultural tradition and national identity of Russia.

Centres of economic growth of the Russian Far East

Soslan V. Tskhovrebov — 2022-12-30

The Far East is a region that has been developing more slowly than other regions of the Russian Federation for a long time. The problems of the development of the region are natural and geographical - the severity of the climate over a large area of the region,
remoteness from the federal center, infrastructural - the poor development of intra-regional ties, problems with transport, social - low (compared to the average Russian indicators) provision of residents with medical, educational and other public services. The weak development of industry, low GRP and, as a result, the high dependence of the budgets of the Far Eastern subjects of the Federation on transfers from the federal budget are serious problems of the Far East. In order to develop the region, the state program of the Russian Federation «Socio-economic development of the Far Eastern Federal District» has been developed. The main goals of the state program are: the formation and development of territories of advanced socio-economic development with favorable conditions for attracting investments in the Far Eastern Federal District and the development of economic growth centers of the constituent entities of the Russian Federation that are part of the Far Eastern Federal District, and some others. The plans for the social development of economic growth centers, developed by the regions of the Far East and financed to a large extent from the federal budget, can play a key role in this.

Modern dividend policy strategies for sustainable socio-economic development

Natalia V. Gryzunova — 2022-12-30

The present time needs additional drivers for economic growth and market stabilization instruments which could be represented by dividend and tax policies. The main priority today (not only in Russia, but worldwide) is stability. Many companies form target groups of minority, institutional and majority shareholders and investors and motivate their specific fiscal behavior towards the company. All of this requires financial and social innovations and dividend strategies. The purpose of the article is identification of dependence between the dividend policy, key company performance parameters and investment behavior of the public. Whereas in the past, according to the firm value theory, companies tried to extend capitalization of companies and thus increase the shareholders’ yield, presently shareholders are interested in creating a profitable dividend portfolio, since the returns on it have become comparable to deposits and bond investments. As far as the sources of income have changed, the tax policy is changing too. The financial behavior of market participants has changed; the disintermediation is fining off; further differentiation of tax and non-tax revenue rates has taken place. It is necessary to optimize the tax burden on investors, to differentiate them into financial groups and to ensure adequate dividend payments for each group.

Assessing the efficiency of green investments based on portfolio approach

Dzeraviaha Ihar — 2022-12-30

Green finance plays a critical role for achieving sustainable development goals. Scaling up green investments and increasing their efficiency requires addressing a number of methodological and practical problems. One of these is a problem of efficiency evaluation. The approach to assessing green investments efficiency proposed in the paper is based on the investment portfolio model. Its application makes it possible to assess green investments with regard for their principal impact on the investment portfolio quality rather than on the basis of actual results of environmental projects. The proposed methodology makes it possible to derive an acceptable rate of return on green investments for inclusion in the investment portfolio, as grounded on the identification of alternative ways to achieve environmental objectives. Using the example of forest cultivation, an algorithm is presented for estimating the guaranteed return proceeding from natural productivity, which can be used to evaluate the acceptable efficiency of investment in both forestry and alternative projects that aim at reduction of greenhouse gas concentration and development of sustainable power engineering. Even in case of low return, green investments can be financially attractive if they contribute to reducing the investment
portfolio risks. The usefulness of the proposed approach depends on completeness of accounting the investment projects’ environmental risk in overall market risk evaluation.

Biological and behavioural elements of the mechanism for retention of age-dependent personnel efficiency potential

Irina B. Durakova — 2022-12-30

The paper attempts to substantiate the possibility of maintaining the efficiency of elderly staff through the formation of a mechanism focused on preventing and overcoming the risks of medical, biological and behavioural nature. The authors give a definition of the
mechanism that allows one to maintain the desire and the ability to continue productive activities. The characteristics of success potential of aged staff, that are different from those of other age categories, have been identified. The triad of phases in the vital labour cycle is characterised from relevant medical and biological points of view, organisational requirements as well as individual challenges and needs. The biological component of human life is presented through the markers of its dynamics. The work – private life balance components have been explored. The main reasons of role conflicts substantiating the imbalance of elderly workers’ work and private life have been identified. The risks of weakened competitiveness of elderly workers and reduction of their endurance capacity have been characterised. Some concepts for mitigating the situation of work – private life imbalance through time management, health management and social support have been developed. The influence of medico-biomedical risk factors on retention of elderly employees’ performance has been demonstrated. The reasons causing risks in achieving ageing staff’s success have been grouped, and the subjects initiating these risks have been identified.

Priorities of personnel policy in the sphere of science

Igor N. Molchanov — 2022-12-30

The development in the sphere of science and the results of scientific activity are determined by a complex of factors, where a prominent role belongs to scientific personnel. There was intensive development in the field of science and improvement of scientific
organizations activities results. In Russia, on the contrary, a reduction in the number of scientific organizations, and the number of scientists was observed. The purpose of the study is to determine the priorities of personnel policy in the field of science based on an analysis of scientific personnel state in Russia in comparison with large developing countries that are members of the BRICS coalition; search for funds to strengthen the financial position, increase the efficiency of research organizations and the effectiveness of scientific personnel. The influence of science personnel potential on the country’s position in global rankings has been proven. The need to revise the priorities for the development of science and the expediency of adjusting the state scientific and technical policy is justified. Conclusions about the need for further transformations in the field of scientific activity, the urgency of finding innovative
forms of financial incentives for scientific research to strengthen the material and technical base and human resources of science are made. Further research is recommended to focus on finding innovative ways of state and public regulation, updating the applied economic instruments, and creating attractive working conditions for workers in the field of science.

Toolkit of budgetary rules in ensuring balance of budgetary policy

Tatyana M. Rogova — 2022-12-30

This study is due to the execution of the state budget of the Russian Federation with a deficit for several years, the low efficiency of the introduced and used budget rules, due to their obsolescence. The purpose of the study is to identify ways to ensure the balance and
stabilization of the state budget, using rules and restrictions at the national and subnational levels. The research was carried out using methods of analyzing scientific papers corresponding to the research topic, finding and processing statistical data, comparing,
identifying trends and patterns, and synthesizing research results to form conclusions. Methods of budget rules modernization were formulated as a result of the study with justification of the need for their implementation in the country’s budget system. The conclusion was made that a budget rule can contain characteristics of several types at once, which contributes to increasing the flexibility and efficiency of this budget rule application.

Internal audit as the basis of management system

Dmitry A. Yakovenko — 2022-12-30

A public law company is a relatively new form of legal entity that combines features of public entities (subjects of public law), unitary non-profit and corporate commercial organizations (subjects of private law). Such conflation of public and private law has led to the
integration of certain elements of the management system from each of the above listed legal forms within the framework of a public law company: in public law companies it is required to establish supervisory board, management board (or the sole executive body - general director), audit committee, internal audit service and internal control service. In the article the authors analyze the specifics of organization and operation of the governing bodies of public law companies. The authors refer to the control bodies of public law company as audit committees, internal control services and internal audit services as the elements of management of a public law company. The authors make conclusions on the presence of the gaps and conflicts in the legislation regulating the activities of public law companies. Such gaps and conflicts reduce management efficiency in public law companies. The authors have developed
recommendations aimed at improving the management system of public law companies in terms of improving the performance of various control bodies, eliminating the existing legislative deficiencies and increasing the efficiency of the implementation of control powers in order to improve the efficiency of the management system.

Gamification technologies in staff training of Russian and foreign companies

Elena A. Tatarinova — 2022-12-30

This article examines the feasibility and effectiveness of introducing gamification technologies into the educational process, which is the use of game mechanisms, principles and tools to solve real non-game problems and problems in various areas of public life. The conducted research is a meta-analysis of the current experience of gamification application, obtained from numerous international scientific studies, practical cases and reports of companies. The collected data show an important practical understanding of the application of gamification in the processes of planning and implementing projects, staff education and motivation, customer attraction and retention through loyalty programs. The influence of gamification technologies on the processes of cognition and learning is proved thanks to hardware studies of the brain activity of students during the game exercises using electroencephalography, functional magnetic resonance imaging (fMRI) and functional near-infrared spectroscopy (fNIRS). As a result of the study of the effects of gamification in terms of improving productivity through perceptual learning, conclusions were made that formed the basis for a generalized list of opportunities for using gamification elements in companies. The study systematized the practical results presented by case studies of companies and educational literature, which considered the results of the application of gamification as mostly positive.

Breakthrough strategies for sustainable socio-economic development of enterprises and economy in Russia

Evgeniy V. Kostyrin — 2022-12-30

The developed in this article breakthrough strategies for sustainable socio-economic development of enterprises and the economy of the Russian Federation allow to meet the following expectations at quite achievable rates of enterprises revenue growth by 3% per year: 1) ensure the growth of wages for working citizens by 34% over 5 years at quite achievable rates of enterprises revenue growth by 3% per year, which will practically end poverty; 2) increase contributions to the development fund by 16% over 5 years. Almost 4 trillion rubles will accumulate already in the first year of implementation during the transition to social financial technologies on pension and medical accounts of the Russian Federation citizens, and 74 trillion rubles will have been accumulating by 2026.

Integral approach to assessing the quality of trade services using qualimetry methods

Olga N. Gutnikova — 2022-12-30

The article studies certain types of qualimetry as a method of quality analysis. The scientific works of Russian and foreign scientists considering the features of qualimetric analysis methods application were studied. The study reveals that the methods of qualimetry in
assessing the quality of trade services are poorly covered in scientific works. The article determines the directions of quality assessment, including economic and social components of trade services. The author proposes an approach to assessing the quality of trade services using qualimetry methods and indicates estimated parameters and expected results. The novelty of the research lies in the developed approach to determining the parameters characterizing the quality of a trading service for evaluation using qualimetry methods. The author suggests an approach and describes a methodology for calculating an integral indicator characterizing the quality of a trading service from the standpoint of its economy and social significance. In the calculations, the author focuses on indicators of the social effect and cost-effectiveness of trade services.

Methodology for estimating the cadastral value of real estate objects when creating the Krapivinsky reservoir

Anastasiya V. Loginova — 2022-12-30

The authorities of Kuzbass drew attention to the objects of the Krapivinsky hydroelectric complex in 2019 that is 30 years after the suspension of construction. It was decided to assess the environmental impact and choose one of the following options for completing the construction of the Krapivinskaya HPP on the Tom River: zero option (refusal of completion), refusal of completion with liquidation of unfinished construction objects, option of completion to the project parameters of 1976 and option based on the results of basic
technical solutions development in 2021. The initiative to consider the possibility of completing for the Krapivinskaya HPP construction in the current socio-economic conditions prevailing in the region will not only become an important incentive to study the prospects for the development of the region, but will also determine the priorities for radically improving the state of natural surface waters and living conditions of the population. However, the design of a hydroelectric power plant is a process that requires a comprehensive assessment of objects that will be in the zone of its influence. Some of those objects are flooded real estate objects. In the course of the study, calculations for real estate objects (land plots and capital construction projects) that will be in the flood zone are presented at elevations of 175.0 m and 177.5 m above sea level in the Baltic Elevation System of 1977. This work presents the results of cadastral value assessment for the real estate that will be flooded.

Transformation of pedagogical activity management in conditions of uncertainty

Tatiana M. Rezer — 2022-12-30

The purpose of the article is to analyze the management of pedagogical activity in conditions of uncertainty, to determine the factors of uncertainty, their content and impact on the management of pedagogical activity, to high-light the features of transformations in the management of the educational process in conditions of uncertainty. The objectives of the study include the analysis of sources about the pedagogical activity management in conditions of uncertainty, the definition of the concept of “transformation of pedagogical activity management”, the definition of uncertainty factors, the identification of transformations in the pedagogical activity management in conditions of uncertainty. Research methodology: a comparative analysis of theoretical and practical sources on the management of pedagogical activity has revealed the lack of attention in modern research to the disclosure of the management of pedagogical activity in conditions of uncertainty; the method of theoretical analysis allowed us to identify uncertainty factors and their impact on the management of pedagogical activity; the method of pedagogical observation was used to determine the features of transformations in the management of the educational process in conditions of uncertainty. The transformation of pedagogical activity management is understood as the ongoing transformations in the educational environment that occur as a result of certain social and pedagogical changes, which can be both chaotic and purposeful, and arising from internal and external sources which actively influence the management process.

Improvement of customs and tariff regulation as a factor of sustainable development

Mariya V. Dolgova — 2022-12-30

The paper discusses the role of prices and customs tools in maintaining a competitive environment, reveals their interaction in the economic mechanism of Russia. The need for more and more complete satisfaction of social needs underlies the competitive struggle between countries for limited global resources. One of the ways of this struggle is international trade, by which each country should strive to export as many goods as possible with high consumer properties, requiring to use highly skilled labor, enabling to maximize
economic benefits. Meantime, it becomes necessary to regulate the imports of foreign-made goods by establishing customs duties on the imports of the manufacturing industry. In modern conditions, customs duties often become a tool of political struggle. In this context, the purpose of the paper is to develop ways to improve the economic mechanism of Russia through prices and customs duties, and to develop their interaction, focusing on creating equal competitive conditions for the sale of domestic and imported products with the help of prices and customs duties. Research methods include analysis and synthesis, induction and deduction, systemic, logical. The result of the study is a set of specific measures to improve customs and tariff regulation, including a formula for an equal price for imported and domestic products. Equal competitive conditions for domestic and imported products are the key to sustainable economic development.

The impact of commodity market volatility on China's stock market

Marina V. Charaeva — 2022-12-30

The article examines individual industry data series on the Chinese stock market and international commodity markets based on the application of the method of decomposition of generalized variance of forecast errors to build a secondary volatility index and overflow network. The DCC-GARCH model proposed by the author is used to study the effect of hedging wholesale goods on the Chinese stock market. The results show that in every industry in China, industry and consumer industry are the main risk-taking market, and the energy industry and financial industry are the main export risk market.

Assessment of prospects for developing the tourism industry in the Republic of Kalmykia

Danara B. Erendzhenova — 2022-12-30

In the context of limited budgetary resources of the regional authorities, it is advisable to search for new opportunities to form the tourist attractiveness of the territories. The need to involve the local social environment in managerial-decision making for tourism
development actualizes research on the motivation and readiness of the local community to interact with authorities in tourism. The research purpose is to determine the priorities for the development of the tourism industry in the region through identifying the position of local residents. The research method is a questionnaire survey of the population of a regional entity the Republic of Kalmykia. The findings demonstrate the confidence of the majority of respondents in the possibility of positioning tourism as one of the priority sectors of the region’s economy. According to the respondents, the key tools for tourism development are the formation of a project for the integral development of the tourist and recreational potential of the region and its financing from the state and regional budgets, as well as the introduction of digital end-to-end technologies in this area. The respondents’ support for the thesis about the need to involve local residents in the formation of the tourist attractiveness of the territory can be considered as a potential opportunity for a wider use of social resources of local communities and internal territorial development sources). In the respondents’ opinion, tourism development tools are associated with traditional practices that require financial investments in the creation of tourism infrastructure, objects of tourist attraction.

Features of strategizing the modernization of the technical structure of production as a form of innovative development

Viktor N. Ovchinnikov — 2022-12-30

The prerequisites for assessing the significance of studying the processes of strategizing the modernization of the technical structure of production, the results of which are presented in the article, are predetermined by the increase in their role in the activation of
innovative processes. The research purpose is to identify the features of strategizing the modernization of the technical structure of modern production as a form of its innovative development, the interpretation of factors and conditions. The methods of analysis,
algorithmization, interpretation of factual information, generalizations and other methods were used. The novelty of the study of the issue of strategizing the modernization of the technical structure of production as a form of its innovative development is expressed in identifying the dynamics and direction of changes in the technical mode of production, assessing the development factors of this process, which seems to be very important in interpreting the changing patterns of transitions taking place, the presentation of imperatives of their understanding, the definition of evolutionary dynamics and the boundaries of the life cycle of each technological mode. The scientific results indicating an increase in scientific knowledge in the text of the article include as follows: a presentation of the trends in the modernization of the technical structure of production as a form of its innovative development, interpretation of the motivation and forms of ongoing actions for effective modernization on the examples of US reindustrialization and neo- ndustrialization of Russia.

Structural dynamic shifts in the Russian macroeconomics in the period of global challenges

Natalya A. Alekseeva — 2022-12-30

The Russian economy is one of the most influential economies in the world, since it is fully capable of self-sufficiency in basic foodstuffs, exporting food, being a global technological leader in many industries. In recent years, the Russian economy has been facing major external economic and political threats, which makes it necessary to restructure the macroeconomics in order to increase its financial stability and efficiency. The main provisions of the Decree of the President of Russia on the goals of national development until 2030 were considered. The research purpose is to study the transition period in the economy to its more progressive structure in 2016-2019 in terms of the most important components of the gross product: intermediate consumption, value added, exports, imports, trade and transport margins. The research objectives are related to the study of the influencing factors on the dynamics of macroeconomic indicators, forecasting further changes. The scientific novelty of the study lies in the assessment of progressive changes in the dynamics and structure of the Russian macroeconomics. The practical significance of the study lies in the possibility of predicting structural changes based on the identified trends. It is also possible to create a new methodology for assessing the contribution of Russia’s real economy to world trade, based on the presence of signs of its more progressive way of life, high financial stability and efficiency.

Cosmic rays at ultrahigh energies

Baidymat I. Urusova — 2022-12-30

In this paper, the nature of the origin of cosmic rays is considered. By studying the chemical composition, the intensity of cosmic rays is determined. And when collisions with the nuclei of the interstellar medium, unstable particles appear. The astronomical role of cosmic rays and the probable galactic model of the origin of cosmic rays have been clarified. The results of the chemical composition of cosmic rays are obtained. It is shown that: a) cosmic rays are mostly located in the Galaxy; b) the Virgo supercluster is a metagalactic model in which the main part of the proton-nuclear component forms superclusters; c) the metagalactic model differs from the galactic one in the energy density of cosmic rays. Models of the origin of cosmic rays in the region of energies up to 1017 Ev, the most preferred model is one that assumes an increase in multiplicity. The energy density of cosmic rays is determined. The dependences of the average number of muons on the number of electrons in the shower and the energy spectrum of muons in the shower are found. Depending on where the main sources of cosmic rays are located, the following models of cosmic rays are shown: solar, galactic and
metagalactic, and galactic models have several modifications and differ from halo and disk models, since cosmic rays fill a quasi- pherical volume.

Methodological aspects of the analysis of sustainable development of organizations

Lyudmila N. Usenko — 2022-12-30

In modern conditions there is an accumulation of issues in the field of achieving sustainable development that require resolution. Along with economic, environmental and social issues, there is now a need to resolve the problems of development of economic actors
of institutional and informational nature. In the course of the study, the issues that need to be resolved in all components of sustainable development were identified. In addition, the set of external and internal conditions of development of Russian enterprises, with regard to the economic, social, environmental institutional and informational components of sustainable development were highlighted. It should be noted that the achievement of a high level of sustainable development of companies requires the resolution of issues arising in relation to all components. It is impossible to selectively focus on solving some existing problems, because only a comprehensive approach to solving the issues of achieving a high level of sustainable development is able to fully realize the development needs not only of business structures, but also of the business community as a whole.

Systems and effective management methods in the conditions of digitalization

Maxot E. Rakhmetov — 2022-12-30

The digitalisation of all processes and management in all areas of social and economic life is widespread. Therefore, the emerging new human needs are also forming new modern requirements that are constantly being updated. This will lead to transformation in all areas and open the way to new paradigms. One of the areas of human activity is the field of education, which is constantly undergoing transformations to improve the quality of the educational process. Distance learning is a modern form of education. This is due to the fact that distance education makes it possible to study regardless of the distance at which the student is located. Therefore, increasing the effectiveness of distance education by using new technologies is a continuous process. This paper deals with the system of distance education platform development. It is also planned to consider the modern ways to implement distance education and conduct education in an effective way. This will make it possible to determine the specifics of distance education in the current situation; systematize the accumulated knowledge and form a scientific opinion.

Realisation of the Russian customs policy in the conditions of protection of the national market

Shi Yongjing — 2022-12-30

The need to protect the national commodity producers and internal markets in general is well recognised in modern foreign trade policy worldwide. The goal of the research is to review the Russia’s customs policy aimed at protection of the internal market; to give
consideration to the totality of measures used for protection of the national producers; to identify the shortcomings of the adopted protection tools, the problems faced in their adoption and use; to suggest certain directions for further improvement of the Russian Federation customs policy in the sphere of protection of the internal market. The methods involving analysis and synthesis were used to meet the objectives of the study. Its efficiency as a protective measure was thoroughly investigated, as well as the timeliness of its application, the potential for neutralisation of negative effects of external companies; compliance with the Russian legislation and the regulatory framework of the World Trade Organisation (WTO) and the Eurasian Economic Union (EAEU). The decision-making mechanisms for introduction of protective measures in the EAEU were investigated as well as the attitude towards the relevant
instruments of the member states’ governments. The following results were obtained in the course of the study: the key importance of the Russian customs service in implementing the state policy towards protection of interests of the internal market was unequivocally confirmed; the measures to protect the national market were classified, with demonstration of their importance and shortcomings; the difficulties in the work of EAEU’s supranational bodies related to the protection of the common economic market were identified; the most important vectors of further improvement of the customs regulation and customs administration, as concerns enforcement of measures towards protecting the Russian Federation domestic market, were identified.

Development of ESG investments in the Russian market

Yulia Yurievna Finogenova — 2022-12-30

In Russia, ESG investing is just beginning to develop, the state supports and
promotes this concept, encourages companies with a high ESG rating and introduces benefits
for them - subsidizing coupon income on bonds to cover part of the issuers' expenses.
Regulators also create common standards by which to assess whether a company really follows
ESG principles. Current research is devoted to the developing the indicators (indexes), which enable to evaluate possible ESG- nvestment strategies.
The goal of the research is to suggest the benchmark of the balanced investment portfolio, which is less volatile, than the traditional stock indexes. So, the formation of an investment portfolio consisting of sustainable assets and building on its basis an ESG- nvestment index will enable to develop the principles of individual sustainable investments. The index structure is bases on a number of sub indexes, which consist of three asset classes: stocks of sustainable companies, bonds of sustainable companies and ESG ETFs of Russian companies. Methodologies employed included the investment performance investigation on the basis of created ESG investment index, that, on the one hand, would have moderate volatility, and on the other hand, would include expanded investment opportunities through the integration of ESG assets.
The results and the novelty of the research is to investigate risk/return tradeoff in respect of ESG-investment portfolio structure and to provide the investors additional benchmarks to develop their investment strategies.

Development of the life insurance ecosystem based on the creation of a single digital platform

Tatyana D. Odinokova — 2022-12-30

Ensuring the development of life insurance as a significant component of the national economy and a source that ensures the formation of the country’s long-term financial resources is traditionally of interest to researchers. A relatively new research vector may be the study of the issue of creating and developing a life insurance ecosystem, within which interactions between various financial institutions can be expanded. The article gives a brief description of the current state (development trends) of public and private life insurance in Russia and determines the need for their organization and development in the context of an ecosystem based on the creation of a single digital platform. The research purpose is to analyze the possibilities of creating a life insurance ecosystem in Russia and its functioning on the basis of a single digital platform. To achieve the research purpose, such methods as a systemic and logical analysis, a method of induction were used. The research results are as follows: risks that the life insurance ecosystem may face were identified and some ways to minimize them were proposed. In conclusion, the authors made a conclusion that the development of the life insurance ecosystem based on the creation of a single digital platform will expand the range of interactions between its participants and will make it possible to transform life insurance into a subject of national interest.

The demand for the quality of human resources in the context of changing generational groups

Victoria А. Vinichenko — 2022-12-30

The purpose of the study: to substantiate the factors and constraints that determine the request for human resource characteristics by employers. Data analyses, generalization, synthesis, method of age shifting were used as methods of research. A number of prerequisites that change the duration of the period of labor activity are analyzed: reform of the education system and the pension system of the Russian Federation; socio-economic transformations; sanctions restrictions; specificity of generations, etc. The considered prerequisites determine the presence of factors influencing the peculiarities of the processes in human resource
management of the organization. It is hypothesized that internal factors are controllable and have a greater influence on the choice of human resource policy in the context of digital transformation. The professional and qualification structure of generational groups is presented in the nexus of generational shifts in the labor market. The results of the study suggest that sanctions will have a negative impact on the employment conditions of workers. There are gaps between the professional training of specialists and the demands of employers, who create alternative forms of training to meet their needs. The novelty of the study lies in the analysis of the current situation in the Russian labor market and the conclusions about the need to provide new formats of interaction between universities and business.

Human capital priority: ESG – oriented strategy for managing economy

Elena I. Lazareva — 2022-12-30

In the contemporary world of continuous fluctuations, the stability of multilevel economic trends is largely determined not only by financial, but also by social performance. This trend is reflected in the formation of ESG – oriented economic management strategies.
The research substantiates the priority role of the human capital reproduction policy in the system of strategic management of ESG – oriented trends in the new economic realities. The objective of the paper is to identify the key components of a human capital development strategy to achieve progress-enhancing ESG benchmarks. The research methodology provides for a comprehensive analysis of the impact of the new economic conditions on the multi-level system of HR management, a substantiation of expert econometric toolkit providing parameterization of the human capital reproduction strategy, as well as for the identification of the benefits associated with the introduction of human-oriented principles of sustainable management at all levels. The result of the study is methodologically substantiated and empirically verified components of the strategy for the reproduction of human capital in the
management system of sustainable innovative development of the economy. It is substantiated that in the conditions of the new economic realities, the systemic algorithm of strategy formulation should be multi-level, which guarantees an endogenously consistent objective analysis of strategic measures in terms of achieving ESG benchmarks. The requirements for the ESG toolkit for evaluating strategic decisions at various levels of the management system have been formulated, as well as recommendations for economic actors on using the ESG toolkit were justified.

Review of the effectiveness of new information technologies in the era of global digital technologies

Nurgul K. Uderbayeva — 2022-12-30

The dynamic development of the economy in society is of great help in solving problems with the internal and international conditions of the development of a global country. Currently, the continuous and rapid development of information technologies in the economy is due to the quality of this knowledge system. As you know, the development of digital information technologies is due to the systematic and continuous quality education of secondary schools and higher educational institutions. That is, in the case of the development of information technologies, humanity can change, simplify life in society, introducing into history any innovative developments, in whatever industry they may be. Undoubtedly, the digital economy, which has become the core of today's topic of industrialization in accordance with the requirements of the digital era of new information technologies, is one of the leading mechanisms in the development of socio-social, industrial relations, various services and innovations at a characteristic level, in the management of infrastructure facilities with a new civilizational trend, i.e. in improving the social quality of life of the population.
This article examines the effectiveness of the use of digital information technologies in educational fields.

Energy determinants of CO2 prices: results of exploratory data analysis

Liudmila G. Reshetnikova — 2022-12-30

The key instrument for regulating the reduction of greenhouse gas (CO2) emissions is the emissions trading system (ETS), which Russia chose to create. One of the key issues for the ETS participants is the mechanism of CO2 pricing. Energy sources are the most important factors in the CO2 price. The study of the relationship between them and the CO2 price at foreign ETSs gives contradictory results. The paper investigates the relationship between energy variables and CO2 price using exploratory analysis tools as the first stage of machine learning. The univariate analysis showed that the laws of price distribution of futures contracts for CO2 and coal are further from normal in comparison with the prices of futures contracts for gas and Brent oil. Logarithmization improved the statistics of the data. Bivariate analysis showed a close relationship between the prices of CO2 and coal futures contracts. The price data for the other energy variables showed a weak to moderate relationship. Correlation analysis, taking into account the different time lags between the energy variables and CO2, indicates that it is appropriate to include past energy price information in the model. The close
linear relationships of the energy variables suggest exploring opportunities to reduce the dimensionality of the data. Exploratory analysis revealed groups of data that would be appropriate to describe with different machine learning models. The presence of data groups in the resulting variable indicates the presence of other CO2 pricing factors that should be identified and taken into account in modeling.

Prospective forms of innovative cooperation Russia with China and India

Alexander S. Vanyushkin — 2022-12-30

The reorientation of Russia’s foreign economic relations toward the Asian vector (primarily toward China and India) will inevitably affect the field of scientific and technical cooperation as well. The purpose of the study: justification of the prospects of development of
scientific and technological cooperation of Russia in the form of technological platforms through the inclusion of business participants from China and India. The study is based on a comparison of the number of technology platforms in Russia and major business companies from the Forbes Global rating in China and India, as well as an analysis of the performance of technology platforms (the share of business participants and the geographic coverage of international cooperation). The analysis leads to the conclusion that there are prospects for expansion for most technology platforms in Russia, due to the inclusion of business participants from China and India. The novelty of the work lies in the methodological approach used to substantiate the possibility of expanding Russian technological platforms by including business participants from abroad. The practical significance of the results of the study lies in
the possibility of using them to adjust the programs for the development of technological platforms in Russia.

Creativity of young scientists and innovative development of the economy in modern Russia

Aleksander A. Litvinyuk — 2022-12-30

The purpose of the article is to identify the main reasons that hinder the formation of human resources potential of Russian higher education institutions and scientific organizations on the basis of attracting talented and creative young professionals. The scientific novelty of the work lies in the systematic study of all motivational and personal factors that promote or hinder the involvement of people with creative thinking and positive attitude to innovative activities in academic activities. The research was conducted using the “Test-system for determining the structure of human motivational complex” and personal characteristics determination system on the MMPI-2 test. The respondents were young scientists, postgraduates and students of Russian universities. The analysis of the results made it possible to conclude that the current system of state regulation of the academic labor market is inefficient, which strategically reduces the probability of innovative economic development in modern Russia. The paper makes conceptual proposals that give an opportunity to raise the level of scientific and pedagogical activity at the present stage of Russia’s development. They mainly concern qualitative changes in the system of state financing of academic organizations, increasing social prestige of building a career path in the academic sphere of activity, reducing the level of bureaucratization and regulation of labor behavior in higher education and science.

Further professional education: challenges in an unstable environment

Tatiana O. Razumova — 2022-12-30

One of the indicators of human capital development today is the degree of involvement of the country's adult population in lifelong learning. And it seems reasonable from the point of view of the Decent Work concept proposed by the International Labor Organization, thanks largely to which society has come to understand the importance of self-realization and personal development of workers. This article highlights the field of further professional education, demonstrating its opportunities, prospects, and impact on changes in an employee's work career, particularly in the transition from an executive to managerial position. The authors used the example of Master of Business Administration (MBA) programs to demonstrate the return on investment in this type of training, confirming the development of relevant managerial competencies in the majority of MBA graduates. Moreover, it is shown that further professional education can be an effective instrument for adapting to the labor market even in an unstable environment.

IT in education is a necessary condition for sustainable socio-economic development

Jaroslav Kultan — 2022-12-30

Remembering the old wisdom “we need smart and healthy people”, I would like to draw attention to the fact that in our modern world we need young, educated people working with the most advanced technologies. The use of IT in the learning process as an object, means and tool can achieve better results. In the modern global world, it is necessary not only to study some of the basics of science and develop new areas, but also to introduce them widely. We are talking about active international cooperation of scientists on the basis of modern IT. The aim of the multi-year study was to study and test the possibilities of using IT to improve the quality of education. The main idea was a multidimensional study of IT and its impact on the development of the learning process. The main research methods were the analysis of forms and methods of teaching with IT based on multi-dimensional and multi-speed feedback
implemented by various tools. The object of study was also IT. The result of the research was some recommendations for changing the course of lectures or classes in high school or lyceums based on ultra-fast feedback. The article originated as a generalization of scientific research of several institutions in Slovakia, Kazakhstan, Russia, Ukraine, the Czech Republic, Hungary and other countries. The article presents some approaches to the use of IT and their impact on the quality of education.

Social capital: approaches to definition and measurement

Irina K. Faevskaya — 2022-12-30

The article is devoted to the study of the wide range of problems associated with the absence of the unified approach to the definition of the concept of social capital. The research addresses the issue of a methodological approach development to define the role of social capital by creating a hierarchy including the concepts of social norm and social standard. The key categories of the concepts of social norm, social standard and social capital were established with the help of quantitative analysis. The authors conclude that the concept of social capital can be regarded as the highest evolutionary stage in the development of the social sphere of society. The article analyzes and systematizes the set of scientific works that explore the concept of social capital. Taking into account the results of the present study will allow specialists from various fields of science to use key categories of the concepts of social norm, social standard, social capital, identified by the authors, and will also allow to develop the concept of social capital with the help of hierarchically established relationships of this scientific category with other concepts.

Social entrepreneurship as a catalyst for sustainable socio-economic development

Sergey O. Kalendzhjan — 2022-12-30

The article considers trends in the development of social entrepreneurship, which is an important element of sustainable socio- conomic development. In terms of global challenges the issues of solving emerging socio-economic problems are actualized, which
requires appropriate transformations and the search for new mechanisms of interaction that promote intersectoral cooperation and the involvement of different stakeholder groups. One of the tools to achieve socio-economic sustainability is the development of social
entrepreneurship, which solves important socially significant problems of society and simultaneously has a positive economic, social and environmental impact. In social entrepreneurship, social responsibility plays a vital role, encouraging to think not only about the economic component, but also to seek the social and environmental aspects of their actions. In this regard, the purpose of the work is to identify the role of social entrepreneurship in achieving sustainability of socio-economic development. To achieve the goal and analyze the available data we used such general scientific methods of knowledge as abstraction, deduction, deconstruction, synthesis, analogy, axiomatics. The use of this methodological apparatus made it possible for the authors hereof to conclude that social entrepreneurship has the necessary potential and a positive impact on sustainable socio-economic development through related
activities that contribute to the optimization of resources used, overcoming socially significant problems of society.

Development of export logistics in the conditions of the Russian Arctic

Elena E. Osipova — 2022-12-30

Cargo delivery by water transport to the Far North and equated territories is one of the most important tasks of the national economy, as it is directly linked with revealing the economic potential of the Arctic region and improving the quality of life of the population.
Those tasks are of particular importance due to the demographic situation in the region. The subject of the research is organizational and economic relations arising during cargo delivery. Regional factors, natural and climatic risks, as well as a fairly large number of participants involved in the process of cargo delivery in the implementation of Arctic cargo transportation, determine the high level of requirements for the quality of management.The most significant results of the research are as follows: the main factors determining the necessity of transforming the cargo delivery management system in the conditions of changing logistics were revealed, the key directions of transforming the development and management system of cargo delivery were determined, the conditions of effective functioning of carriers in the Russian Arctic were identified and structured, the functionality of the Northern Supply Haul Management Center was defined.

Strategy for the development of small and medium-sized businesses in the ecosystem of the region

Igor V. Mandritsa — 2022-12-30

In times of crisis there is a need to incorporate management mechanisms that allow strategic use of the region’s ecosystem and entrepreneurship potential. Today many entrepreneurship agents carry out business processes chaotically, traditionally managing their resources without considering the innovational components of the ecosystem. There is a need for a strategy created on the basis of achievements and development of scientific theories, which will align the spontaneous chaotic nature of the entrepreneurial cluster and strengthen its vector impulse in increasing the activity of the economy of the territory. The aim of the study is to create a modern strategy for the development of small and medium business on the basis of the study and development of scientific theories and ideas, to create the strategy to study the state and trends of entrepreneurial activity of the region and its ecological environment. Methods: management theory, strategic management theory, systems analysis, methodologies of SMB growth poles strategy in regional systems, development of regional ecosystems, conceptual approaches to entrepreneurship development strategy, concepts, and models of entrepreneurship ecosystem theory. Results and novelty: The strategy of small and medium business in the region proposed in the work is based on the study of theories, methods and analysis of the role and performance trends of small and medium business (SMB), which determined its priority as a propulsive cluster of the regional economic system. The application of platform strategy for SMB development allows increasing the propulsiveness of the SMB cluster in the ecosystem of the region.

Foreign experience of the development of territories with uneven landscape

Sergey G. Kamolov — 2022-12-30

The article presents the results of a study of foreign practices of "smart" city concept implementation in territories with uneven landscape. Territories located in the foothills with a significant height difference from 0 to 600 meters above sea level are considered as territories with an uneven landscape. The study addresses the problem of assessing the management readiness level of cities to determine relevant experience for its implementation in the Russian Federation. The authors of the study developed seven criteria for assessing the readiness of cities to implement the "smart" city concept, using the elaborated method of the management readiness level determination. The study was conducted on the basis of an expert assessment of criteria and subsequent ranking of cities according to their integral indicators. The authors conclude that due to the similarity of the geographical and demographic characteristics of Bilbao and Cuenca with the regions of the North Caucasus, as well as the high management readiness level of these cities, their experience is applicable to the Russian Federation.

Russia and its regions in the new economic reality

Vyacheslav K. Sevek — 2022-12-30

In the period of tightening sanctions of the collective West, the issue of developing adaptive solutions against external and internal threats to the national economy for each region of Russia comes to the fore as a strategic regulation of the development of the changing situation, including economic independence, stability and sustainability of the national economy, the ability to self-development. The purpose of the work is to reveal the economic consequences of anti-Russian sanctions. The study uses methods of analyzing the problem of economic security and collecting facts related to the anti-Russian sanctions. The novelty of the study lies in identifying the reasons for imposing sanctions on Russia by the collective West led by the United States and identifying external and internal risks in the socio-economic situation in Russian regions. The authors conclude that Russia faced a significant collective external aggression, unparalleled in modern world and Russian history. In this regard, the development of the Russian economy should change the format of the relationship with the outside world, particularly with unfriendly countries on the internal economic policy. It is important not only to reduce the risks associated with the multiple sanctions’ packages adopted by the U.S. and Western countries, but also to restructure the economy by aiming at the growth of investments into import substitution.

Sustainable and innovative industrial development of EAEU countries

Maria A. Maksakova — 2022-12-30

The UN sustainable development goals for the period up to 2030 are among the priorities for implementation in the Eurasian space. The introduction of the achievements of the fourth industrial revolution in the production processes in the Eurasian Economic Union
can contribute to the implementation of the SDGs. Since industrial cooperation is a key driver of the development of integration processes in the EAEU, the transition to “green” industry can also contribute to the deepening of integration processes and improve the global competitiveness of goods produced in the Union. The purpose of this study is to analyze the state of the manufacturing industry of the EAEU countries in the context of achieving sustainable and innovative development. The study uses descriptive, comparative, and qualitative methods of analysis. The authors used a comprehensive approach to address issues relating to sustainable and innovative development of the manufacturing industry and their impact on the development of integration processes in the EAEU, which have not yet received extensive coverage in the scientific literature.

Value principles constitutional law: budgetary protection interests state and society

Galina V. Petrova — 2022-12-30

The relevance of the work lies in identifying current trends in strengthening civil initiative budgeting, public control over budgets and public finances to strengthen the principles of democracy and judicial protection at the constitutional level. The novelty lies in the assessment of the legal positions of society and the state regarding the value parameters of budgetary and constitutional provisions as mechanisms for protecting the rights of citizens in the public sector. The purpose of the article is to consider topical constitutional-legal and budgetary-legal problems of increasing the value of constitutional provisions as the basic principles of legal regulation of protecting the budgetary interests of the state and society. Special methods of legal and informational analysis have been used to study innovative approaches to protecting the budgetary provision of constitutional rights of citizens. The results of the study include a set of legal approaches to improve the level of budgetary protection of citizens and the state within the framework of constitutional democracy. They cover judicial review of budget disputes to protect the rights of citizens to compensation payments and social
security supplements, increase budgetary activity at the local level through initiative budgeting. As part of the discussion, it is concluded that the model of budgetary control based on the results of budget execution should be consistent with the constitutional principles of budgetary federalism and democracy. The consequences of the conclusion state that the participation of citizens at the stages of the budgetary process of local self-government helps modeling and public monitoring of draft budgets, reduces the risks of misuse of budgets and increases control over the compliance of budget reporting with real results of economic activity.

Regional system of financial support for innovation in the conditions of macroeconomic turbulence

Yuri О. Bolotin — 2022-12-30

Issues of regional development caused by significant volatility of macro-level socio-economic situation form new requirements to executive authorities, responsible for economic growth and the innovation activity increase in regions. The innovative sphere is one
of the main recipients of investment in the economy of developing countries, and the current need to increase the number of innovative developments in the context of import substitution in the Russian economy only reinforces this trend at the regional level. The purpose of this study is to form a set of measures to improve the regional system of financial support for innovation in an unstable economic situation. As elements of novelty, the author's interpretation of the concept of a regional system of financial support for innovation, which is an open, holistic and self-reproducing set of efforts of the main stakeholders of innovative development of the
regional economy, can be highlighted. This system develops under the influence of changing factors of exogenous and endogenous environment, which determine the financial constraints and institutional features of state financial support for innovation at the meso-level. The influence of the identified factors was analyzed by means of SWOT-analysis – the strategic planning tool. It allowed highlighting the key areas for the work of regional executive authorities in the sphere of innovative development of the economy. The authors proposed several measures to improve the regional system of financial support for innovation in the Rostov region in conditions of macroeconomic turbulence.

Promoting small and medium-sized businesses in Europe for sustainable development in the digitalization era

Irina N. Platonova — 2022-12-30

Taking into account the fact that enterprises of small and medium-sized businesses account for the largest share of all the EU- nterprises, create a significant number of jobs, make a great contribution to the development of the European countries economies, promoting their participation in the implementation of the Sustainable Development Goals is an urgent problem. Therefore, its solution is of great practical importance. The use of a criterion analysis of different views on the forms of assistance to small and medium-sized enterprises shows that the need to find financial resources in order to participate in the “green” economy is not always
taken into account. Based on the content analysis of the reports of the European Commission and national programs on sustainable development, the need for comprehensive support for small and medium-sized businesses is justified. This particular study emphasizes the need to assist small and medium-sized enterprises in order to overcome the negative consequences of the corona-crisis for their activities. A comparative analysis of the sustainable development practices of European countries led to the conclusion that a comprehensive form of assistance to small and medium-sized enterprises can be their cooperation with large business, which
receives state support in the form of grants and subsidies and is able to attract small and medium-sized businesses to participate in global value chains, which in the future will expand the number of participants implementing the European Green Deal.

Actual problems of regulation of the release and circulation of structured financial products

Ivan R. Ipatyev — 2022-12-30

The market of structured financial products in emerging economies is a young phenomenon which carries a number of disadvantages. In more developed financial systems in the United States and Europe, it operates in conditions of clearly functioning mechanisms for
protecting the rights of consumers of financial services. Despite the efforts made by the Bank of Russia, the system of protection of the rights and legitimate interests of investors, especially individuals, remains incomplete in Russia. There are problems regarding the operation of the information disclosure system, the facts of insider information abuse and market manipulation. Frequent changes in legislation, as well as continuing legislative gaps, create uncertainty. Despite significant discrepancies in the interpretation of the term “structural product”, the grounds for fixing it in legislation and making it “legal” have not yet developed. A structural product, as an artificial or synthetic phenomenon, will be regulated through the application to it of norms relating, respectively, to contracts or securities from which such a product is formed. Also, when purchasing securities on the exchange, the rules on clearing settlements must be observed, and in some cases – on settlements with the participation of a central counterparty, whose functions are traditionally performed by non-bank credit organizations licensed to carry out clearing activities. The task of improving the regulatory framework in order to regulate the issue and circulation of structured products in Russia is especially relevant due to the rapid growth in the number of retail investors.

Intellectual capital of universities as a condition for innovative development

Elena V. Lyapuntsova — 2022-12-30

The article presents the results of research on the human resources potential of Russian universities. The authors substantiate the relevance of the issue of the development of the main elements of intellectual capital. The results of the implementation of the social project "Golden Names of Universities" for the period from 2017 to 2022 are presented. The project is aimed at improving the social status of the "university teacher" profession through the implementation of a large-scale social project. The purpose is to summarize the results of the implementation of a social project as a complex of scientific, methodological and design developments for the development of intellectual capital of higher education using project and system approaches. The effectiveness of the project on the formation and development of a professional community of university teachers is substantiated. The events aimed at identifying talents and motivation to improve the quality of work of the teaching staff of universities, research work, development of educational programs and textbooks for beginning teachers, professional development of teachers, educational work, public and expert work, exchange of experience and organization of interuniversity interaction are presented. The main discussion platforms are indicated: the Public Chamber of the Russian Federation, the Presidential Grants Fund, the Ministry of Education and Science of the Russian Federation, the Committee on Science and Higher Education of the State Duma of the Russian Federation, where the results of the project were presented.

E-commerce in BRICS Countries

Svetlana A. Gusarova — 2022-12-30

In an effort to cope with the problems that arose as a result of the pandemic and led to a decrease in the volume of the economies, the BRICS countries are helping each other by expanding Intra-group economic cooperation. One of the innovative forms of their interaction is the development of e-commerce of the five countries. The relevance of the study is due to the fact that e-commerce is a driver of economic growth in developing countries, including the BRICS countries. The study concluded that China is the world's largest e-commerce market. It was revealed that the Internet of things, cloud computing, etc. contribute to the growth of this sector of the economy. It is noted that despite the fact that Russia has the largest number of Internet users in Europe, the volume of e-commerce in the country is small. The conclusion is made about the prospects for further development of e-commerce in the BRICS countries, about the importance of stimulating this process. As a result of the study, the advantages and bottlenecks of e-commerce, as well as the main directions of its development in the BRICS countries, were identified.

Role of gold in Russia's modern monetary system

Igor S. Ivanchenko — 2022-12-30

The paper analyzes the reasons for the accelerated accumulation of gold in the structure of Russia's international reserves and the impact of this process on our country's monetary system. The purpose of the paper is to identify the prospects for increasing the role
of gold as a collateral asset in the ruble money supply emission. The correlation and regression analysis of the most important macroeconomic variables of the money market, which should be influenced by gold quotations, was chosen as a method of research. The novelty of the paper is the justification of the pattern of accelerated gold accumulation in Russian international reserves. The review of foreign scientific literature has led to the conclusion that the increased role of gold in the international financial market is associated with an uncontrolled emission of currencies by the G7 countries in their pursuit of soft monetary policy. The paper presents the results of the calculation of the intrinsic value of gold and the impact of its stock in the Russian Central Bank vaults on the money supply in the country and the ruble exchange rate against the U.S. dollar. The authors conclude that the way out of the protracted global financial crisis may be a return of one or more major economies (not excluded, the U.S.) to the gold standard system.

The main directions of structural transformation of the oil and gas complex in the context of sanctions restrictions

Chan Kae — 2022-12-30

The Russian oil and gas sector has been under sanctions since 2014, but in 2022 unprecedented restrictions were imposed on the industry, significantly changing the way companies operate and leading to a major transformation of their development strategies. At
the same time, many of the imposed sanctions are highly conditional, i.e. the vague wording in the documents allows them to be interpreted rather variably, which allowed many foreign companies to cooperate with Russian companies to the same extent until 2022. The radically changed conditions of oil and gas complex functioning have now made it urgent to consider the directions of structural transformation that the domestic oil and gas complex will have to face. The article considers three basic directions of transformation – the intensification of import substitution processes, reconstruction of logistic chains and transfer of international industry investment projects into the Russian jurisdiction.

Problems of providing tax benefits to individual investors in the securities market

Olga S. Belomyttseva — 2022-12-30

Tax concessions are widespread in the securities market. They are used by the state as a tool of tax policy to attract individual investors to the securities market. In the Russian Federation, the most common tax benefits for individual investors are in the form of investment tax deductions. When analyzing the problems of providing tax benefits to individual investors in the securities market, the positions of the investor, the issuer, and the state are analyzed. From the position of an individual investor, there are problems in choosing benefits, the complexity of benefits, and technical aspects. The problems of providing investors with tax benefits in the securities market from the position of the issuer consist in the need to include securities in the list in order to receive a tax benefit. The problems of providing individual investors with tax benefits in the securities market for the state are the assessment of the effectiveness of tax expenditures on the provision of tax benefits, as well as the need to choose between the support of the issuer or the investor. The authors conclude that the beneficiaries of tax concessions in the securities market are not only investors, but also issuers and the state. It is stated that it is necessary to assess the fiscal efficiency of state expenditures on the provision of tax benefits to individual investors in the securities market, the need to amend the Tax Code of the Russian Federation in terms of eliminating duplication of tax benefits.

The impact of inflation expectations on the financial policy of domestic companies in the real sector of the economy

Ekaterina A. Nesterenko — 2022-12-30

The article considers the main results of surveys of the population and enterprises of the real sector of the economy regarding their inflation expectations, and provides a forecast of changes in the inflation rate in the Russian Federation up to 2024. It is substantiated that the observed inflation was not only the result of the special operation in Ukraine, as the preconditions for its emergence were observed before 2022, and in the EU and the Americas to an even greater extent than in Russia. The authors also consider the degree of influence of inflation expectations on the financial policy of domestic companies, which are largely determined now by geopolitical factors and sanctions restrictions in the context of the structural transformation of the Russian economy, as well as the adaptation of all economic entities and the population to new economic conditions. At the same time, the authors note that non-resource enterprises focused on the domestic market demonstrate the most stable financial condition in the conditions of financial crises.

Adaptation of the national tax policy in the context of Russia’s foreign policy activity in the international arena

Irina Yu. Orzhakhovskaya — 2022-12-30

The purpose of this study is to identify patterns and processes of adaptation of Russia’s tax policy under the influence of foreign policy factors due to the current geopolitical situation in the international arena. The foreign policy activity of the Russian Federation makes
it possible to set its priorities, determine the formats and set the course for the entire foreign policy of the state, which certainly requires proper organizational and legal institutionalization. That is why the adaptation measures of the Russian tax policy are very important based on modern realities, built on the basis of sanctions pressure from unfriendly countries towards Russia. This study examined all the measures of the Government of the Russian Federation aimed at adapting taxation and building the course of the state’s economic policy in the context of market economy implementation. The ongoing tax policy, which takes into account benefits,
deferrals and exemptions from part of the taxation, will allow the development of domestic production, bring it to a new level and stop dependence on foreign investment. Based on the study, a reasonable conclusion was made about the need to maintain a balance between the fiscal and regulatory role of taxation in the context of a slowdown in the growth of the domestic economy due to the influence of the international situation because of Russia’s foreign policy activity.

Investment by Russian real sector corporations in terms of ensuring national security

Qi Zhendong — 2022-12-30

In modern economic literature, several strategies for the development of corporations are considered at the theoretical level. However, the strategy of domestic economic activity is not considered as an independent form of strategy or insufficient attention is paid to it. The purpose of the article is to identify strategies for the activities of Russian enterprises based on their annual reports and ratings of Russian analytical agencies. Research objectives are, firstly, the development of a methodology for evaluating the results of activity
strategies and, secondly, the analysis of activity strategies as a result of their commodity market, resource market, technological, integration and financial investment strategies. The study conducted revealed the features of strategies of corporations in the national market. According to the results of the analysis, the use of traditional theories in the context of the current financial globalization in a country with a developing economy is ineffective for the formation of an investment strategy. Macroeconomic factors have a strong impact, which is most evident during and after the crisis. The financial crisis has a strong impact on the capital structure. The factor that determines the development of the market has a significant impact on the debt burden and plays an important role in making financial decisions after the financial crisis.

The innovative development of blockchain technology in the insurance industry and its practice in China

Laibing Sun — 2022-12-30

Since its inception in 2008, blockchain technology has been one of the most sought-after technologies in the financial technology field in the past five years. Not only financial companies, but also many industries, think tanks and regulators are paying close attention to blockchain technology, and have been studying and exploring the value and potential risks it brings. There is no doubt that the core advantages of blockchain technology such as decentralization, smart contracts, high efficiency, openness and transparency will provide an important impetus for the innovation and development of the financial industry, especially the insurance industry. This article sorts out some literature related to the domestic insurance industry and blockchain technology in recent years, summarizes the innovative role of blockchain technology in the insurance industry, sorts out the existing practical activities of blockchain technology in China, and discusses its future The development trend is prospected.

Risk accounting in Russian business valuation in times of sanctions

Anna A. Bakulina — 2022-12-30

The West approved a number of packages of sanctions against Russian legal entities and individuals, which noticeably affected many sectors of the Russian economy and business of Russian entrepreneurs. In support of the USA, the countries of the European Union and other states unfriendly towards Russia have drawn up their sanctions programs. Thus, the following question is especially acute for the founders of various companies: “What risks should be taken into account in business valuation in today’s crisis caused by the current geopolitical situation and a number of sanctions?” The relevance of the chosen topic is due to the presence of demand for business valuation, which is growing exponentially in modern realities. Due to these factors, Russian entrepreneurs and their businesses found themselves under enormous pressure from the risks that have arisen, which will remain relevant in the coming years.

Methodological aspects in the assessment of financial security of a region

Irina S. Ferova — 2022-12-30

The paper is devoted to the development of tools for assessing the financial security of a region in order to form a strategy for the territorial development in the context of the interaction between the goals of sustainable socio-economic development and economic
security. The paper considers the features of financial security assessment. The assessment was carried out by centralized and decentralized finance of a region. Taking into account the existing limitations of statistical observation at the level of municipalities, the composition of indicators and their threshold values used in assessing the financial security of a region was specified. The measurement was carried out in the context of six macro-districts according to three indicators: the average level of subsidization of local budgets of the macro-district; tax and non-tax revenues of local budgets per capita (coefficient of development of own revenues in local budgets); business efficiency ratio. An analysis of the dynamics and structure of subsidies for the period 2015 – 2020 shows that the main increase in subsidies falls on the Western and Southern macro-districts, the growth rate exceeds the average for the territory
over the same period. There is a clear dynamics of development and improvement of the own revenues of local budgets of most macro-districts of the territory. There is a decrease in the business efficiency ratio in general in Krasnoyarsk Territory in 2020, due to the impact of the pandemic and lockdown.

Political elites in the epoch of “warring democracies”

Pavel L. Karabushenko — 2022-12-30

The instability of the modern world is largely due to its current state – the state of conflict between the “warring democracies”. None of the parties involved in the conflict will ever admit that it (a conflict party) is not a democracy. Therefore, the level of trust/distrust of
the society in the authority institutions will depend in many ways on how successfully a country implements its democratic project.
The democracies fight for the right to be considered a true democracy and for this they accuse and discredit their rivals of having a false democracy form. The elites successfully use this rivalry for their own purposes, both ideologically and geopolitically. Moreover, the very concept of “democracy” (as the sum of specific values) becomes a victim of axiological decomposition. At the same time, the democratic values themselves transform into victims of political demagogy and numerous political speculations.
The political elites abuse democratic values too often, seeing them as some effective mechanism to advance their speculative goals. They use civic “charm of democracy” to achieve their goals that are sometimes undemocratic. On the contrary, the maturity of civil society always shows the qualitative level of democracy itself. Any discrepancy between ideals and the reality leads to intraspecific conflict. In the rivalry, the elites tend to use unconventional means that do not deal with the norms of democracy.