Factor Analysis of the Efficiency of Russian Oil and Gas Companies

The purpose of the study is to develop theoretical and methodological foundations for the development of tools for assessing the level of financial and technical efficiency of oil and gas companies and identifying reserves for improving efficiency based on the influence of external and internal factors. The theoretical basis of the research consists of the authors' works devoted to the problems of assessing financial efficiency, technical efficiency, innovation, market and environmental efficiency of companies. Modeling was carried out on the basis of tools for building DEA models, logistic regression, methods of correlation and regression analysis using the functionality of the software product R. The data of 7 companies with the largest revenue in the oil and gas industry by the end of 2020 and macroeconomic indicators of the financial and economic market of the Russian Federation are also components of the information base of the study. The scientific novelty of the research lies in the development of theoretical provisions and methodological tools for evaluating the effectiveness of companies in effective identification by assessing financial and technical efficiency, developing models of the phenomenon and forecasting the effectiveness of companies in the oil and gas industry

Fuzzy-Logical model for analysis of sustainable development of fuel and energy complex enterprises

The purpose of this article is to build a mathematical model for analyzing the sustainability of the development of an enterprise in the fuel and energy complex, integrated into an information management system. It is noted that one of the strategic dominants in achieving the national goal of accelerating the technological development of any country is to ensure the effective functioning of enterprises in the fuel and energy complex. It is substantiated that these enterprises represent the basis of the material life of society, thus, ensuring their sustainable development is a significant factor for the formation of the structure of sectoral and inter-sectoral industrial complexes. In order to analyze the sustainable development of enterprises, an integral indicator is proposed, the components of which are the vectors of production, organizational, economic, environmental and social characteristics. Due to the weak structure of some characteristics, to solve the problem of their synthesis with quantitatively defined indicators, it is proposed to use the mathematical apparatus of fuzzy logic. Weakly structured indicators are formally described by linguistic variables. To establish the dependence of the integral indicator of sustainable development on production, organizational, economic, environmental and social indicators, a fuzzy-logical model has been built, which makes it possible to use the knowledge of experts by constructing rules of fuzzy inference. The fuzzy logic model is implemented using MATLAB tools. On the constructed model, experiments were carried out to assess the impact of each of the local indicators of sustainable development of an enterprise on the integral indicator. The advantage of the constructed model is its adaptability to changes in the operating conditions of enterprises

Mechanism of Financial Results Management for the Industrial Enterprise

Research is devoted to the analysis of the mechanism of management of financial results which makes set of the administrative decisions providing achievement of a maximum of profit. Relevance of this problem is confirmed by data the expert according to whom many Russian enterprises due to the lack of the adjusted control system of finance annually lose not less than 10% of the income. Тherefore decisions which essence is reduced to creation of the effective mechanism of management of financial results have to become the most important problem of management of finance of the enterprise. It is proved that the mechanism of management of financial results has to coordinate price and assortment policy with policy of minimization of variables and constant expenses on the basis of studying of opportunities of advance of production for the market. It is revealed that effective managements of financial results of the industrial enterprises has to combine marketing, the prices and policy of the range with measures for decrease in expenses. The maximum size of profit or minimization of losses that can be reached as a result of imitating experiment on the offered models considering all set of factors has to become criterion function of such mechanism of management. DOI: 10.5901/mjss.2015.v6n4s2p56

Model of Control of Financial Results of the Enterprise

In article it is shown that on formation of financial result of the enterprise have impact a row multidirectional both internal, and external factors which define a final indicator - profit (loss) of the enterprise. As a result, the model in which all essential factors having impact on profit of the enterprise, engaged in electric power generation were included was constructed. The constructed model at methodological level solves a problem of identification of reserves of receiving profit of the enterprise. Moreover, the model allows to supervise financial result of the enterprise by identification of the factors which have made negative impact on financial result in the certain period. As a result, the constructed model allows to carry out an assessment of the actions connected with increase or reduction of indicators, entering into model. Therefore, the developed model gives opportunity to supervise financial result both all generating enterprise as a whole, and the separate station including some blocks, and also the separate generating block. DOI: 10.5901/mjss.2015.v6n4s2p57

Optimization of the Structure of the Investment Portfolio of High-Tech Companies Based on the Minimax Criterion

A model has been developed for the optimization of the share structure of an investment portfolio in high-tech projects supported by the leaders of the leading industry companies in Russia. Several indicators (financial leverage, integrated rating of companies, industry rating) were applied in the decision support system for the shared distribution of investments. High-tech production is based on innovative technologies for saving resources, the resiliency of systems for transporting and transferring raw materials and finished products within Russia, so the main income will remain within the country. It is possible to export high-tech products, rather than raw materials, which will increase export revenues. Investors will invest in high-tech projects of Russian companies, taking into account the targeting of investment development. The guarantee is the stable financial position of the companies and the competitiveness rating. Methods: The authors propose a new approach that does not contradict modern rating scales, based on a hierarchical rating procedure and fuzzy logical rules that allow you to build an integral rating in the form of portfolio shares from the whole. A higher share shows an indicator of the higher investment attractiveness of companies. The industry rating is obtained based on the principle of the company’s first affiliation to the highest rating indicator. The final minimax portfolio is based on the initial ratings in a circular convolution and is then adjusted by industry. A software package has been compiled that allows the testing of the method of capital allocation between investment projects for the largest companies’ leaders of high-tech industries in Russia. This software uses the author’s method of multi-stage analysis, the evaluation of financial coefficients, the integral ranking and the correction of the solution taking into account the industry attributes. Results: The results are presented with computer-aided design (CAD) in the form of an algorithmized decision support system (DSS). The CAD system is based on a hierarchical algorithm, based on the use of a multi-level redistribution of investment shares of high-tech companies, taking into account the adaptation to the requirements of the return on investment portfolio. When compiling the portfolio, the minimax optimality criterion is applied, which allows the stabilization of the risk by purposefully redistributing funds between the companies involved in the analysis. The authors of the article have compiled an algorithm for the software implementation of the model. Features of the rating approach: the use of the author’s mathematical apparatus, which includes a hierarchical analysis of the ranked indicators of the financial and economic activity of companies, taking into account their priority, and the use of a minimax approach to obtain a rating assessment of companies, taking into account the industry attributes. Development: The proposed approach should be used for targeted financing of large industry companies engaged in the implementation of high-tech projects

Efficiency of price competition in the telecommunications market

Over the past few years, the Russian telecommunications market has shown one of the highest growth rates in the country. According to RBC media holding, which, in turn, refers to the independent consulting Agency TMT Consulting, in 2018, the market volume increased by 3.4% , 0.6 percentage points more than in 2017. The main driver of growth was the mobile business, whose revenue grew by 5% . Among the most likely reasons for such results, it is possible to identify the cancellation of most tariffs that provided unlimited Internet access to subscribers, and the termination of price competition. The rejection of tariff plans with unlimited Internet access allows the operator to increase the ARPU, which also reached a record high in 2018. The purpose of the article is to refute or prove the possibility of using price dumping mechanisms in the oligopolistic telecommunications market in Russia

Modeling the Business Environment of an Energy Holding in the Formation of a Financial Strategy

This article consists of the development of a set of methodological provisions concerning the identification of the features of the influence of the business environment on the effectiveness of the implementation of the company’s financial strategy and the development of a system for its adaptation to the conditions of a dynamic external environment. The purpose of this article is to build an economic and mathematical model to identify the main elements of the business environment that affect the company’s strategy, the formation of methods for evaluating the effectiveness of the implementation of a financial strategy taking into account such influence. The author’s contribution consists in the development of an effective financial algorithmic strategy of the energy holding, considering the influence of the environmental factors. Hypothesis: the use of mathematical models of the business environment will increase the efficiency of energy holding management in the field of finance and investments. The scientific novelty of this article lies in the development of an algorithm that allows for obtaining an integral assessment of the impact of external and internal factors of the energy holding’s business environment on its financial strategy using taxonomy methods, multidimensional statistical analysis and cluster and discriminant models. Results: the authors have developed a model of the influence of the energy holding’s business space, which allows improving the interaction of financial flows within the holding and obtaining an optimal distribution of financial resources, taking into consideration the dynamic factors of the company’s external environment

The role of social media marketing in consumer behaviour

This article looks at recently published research on social media consumers. Five topics are highlighted: consumer digital culture, responses to digital advertising, the impact of social media on consumer behavior, mobile environments, and online rumors (WOM). The articles examines how consumers experience, are influenced and are influenced by the digital environment they are in as part of their daily lives. Much remains to be understood, and existing knowledge tends to focus disproportionately on WOM, which is only part of the digital consumer experience. Several avenues for future research have been proposed to encourage researchers to consider a wider range of phenomena

Podejście rozmyte w modelowaniu zarządzania rozwojem zrównoważonej turystyki

The paper proposes an economic and mathematics models of sustainable tourism development strategic management based on application of fuzzy algebra mathematical apparatus. The conducted research is built, starting from the formulation of strategic management of sustainable tourism development concept and ending with the creation of economic and mathematics models of decision support. A mathematical model that supports decision making in the evaluation of sustainable development of tourist and recreational areas was developed based on the use of mathematical apparatus of fuzzy inference. The model is built in Fuzzy Logic Toolbox environment of MATLAB and allows selecting strategic reference points for sustainable tourism development with the combination of the results of economic benefits with environmental and social indicators.W artykule zaproponowano ekonomiczne i matematyczne modele strategicznego zarządzania rozwojem zrównoważonej turystyki oparte na zastosowaniu aparatu matematycznego algebry rozmytej. Przeprowadzone badania zbudowane zostały począwszy od sformułowania strategicznego zarządzania koncepcją zrównoważonego rozwoju turystyki, a skończywszy na tworzeniu ekonomicznych i matematycznych modeli wspomagania decyzji. Opracowano model matematyczny wspierający podejmowanie decyzji w zakresie oceny zrównoważonego rozwoju terenów turystycznych i rekreacyjnych w oparciu o zastosowanie aparatu matematycznego wnioskowania rozmytego. Model został zbudowany w środowisku Fuzzy Logic Toolbox w MATLAB i pozwala na wybór strategicznych punktów odniesienia dla zrównoważonego rozwoju turystyki dzięki połączeniu wyników korzyści ekonomicznych ze wskaźnikami środowiskowymi i społecznymi