TRANSITION TO PROJECT FINANCING IN HOUSING CONSTRUCTION AS A NEW VECTOR OF URBAN DEVELOPMENT

Proceedings of the XXV ISUF International Conference “Urban Form and Social Context: from Traditions to Newest Demands” (Krasnoyarsk, July 5–9, 2018)The development of urban areas in Russia is closely linked to the problem of resettlement, which is based on two key factors: the size of the population of our country and the extent of the territory. The ratio of the population is about 150 million people, and the size of the territory is over 17 million km2. It makes it possible to estimate the population density: about 9 people per km2. While in other countries the density is much higher: in the USA, 30 people per km2, in Germany 229, in France 109 correspondingly. However, the resettlement of the population in our country is fairly selective. The main territory (more than 60% of the territory) is inhabited very poorly, less than 1 person per km2. Difficulties with proportional settlement are linked not only with the climatic features of particular territories (sharply continental climate, mountainous terrain, wetlands, etc.), but also with limited access to resources, including material and financial resources. Another significant factor affecting the resettlement feature is the significant distance between centres for the extraction of raw materials and its processing centers for the production and consumption of energy, which determines the high cost of infrastructure solutions for creating comfortable living conditions in remote areas

Финансовые факторы стимулирования потребительской активности для достижения целей национальной экономической безопасности страны

In the context of the sanctions regime, the development of the national economy of Russia should be viewed from the angle of national economic security. The modern sanctions regime has begun and is still based on financial restrictions and prohibitions, which affects the need for a specific monetary policy of the country. In this regard, an important aspect of achieving the goals of national economic security are financial factors. As a methodological approach, the paper uses a descriptive approach to assess the relationship between the impact of the different channels of the transmission mechanism (welfare channel, exchange rate pass-through) and economic variables such as consumer demand. The contribution to the consumer price index of each of the three components is estimated: index of food products, index of non-food products and index of paid services. The significance of the contribution of the index of food products is revealed, which is confirmed by the results of regression analysis of the dependence of consumer prices on the exchange rate. The paper proposes a combination of inflation targeting and industrial production targeting to achieve a more significant effect of monetary policy implementation in the conditions of the sanctions regime and for the purposes of national economic security. Also, taking into account the significant contribution of changes in the exchange rate to the consumer price index, it is proposed to pay more attention to the impact of the Bank of Russia on the exchange rate.В условиях действия санкционного режима развитие национальной экономики России необходимо рассматривать под углом национальной экономической безопасности. Современный санкционный режим начался и до сих пор основывается на финансовых ограничениях и запретах, что отражается на необходимости специфического построения денежно-кредитной политики страны. В связи с этим существенным аспектом достижения целей национальной экономической безопасности выступают финансовые факторы. В качестве методологического подхода в работе используется дискриптивный подход, позволяющий оценить взаимосвязь между воздействием отдельных каналов трансмиссионного механизма (канал благосостояния, канал валютного воздействия) и экономическими переменными, такими как потребительский спрос. Произведена оценка вклада в индекс потребительских цен каждой из трех составляющих: индекса продовольственных товаров, индекса непродовольственных товаров и индекса платных услуг. Выявлена существенность вклада индекса продовольственных товаров, что подтверждено результатами регрессионного анализа зависимости потребительских цен от валютного курса. В работе выдвигается предположение о сочетании инфляционного таргетирования и таргетирования объемов промышленного производства для достижения более существенного эффекта реализации денежно-кредитной политики в условиях санкционного режима и в целях национальной экономической безопасности. Также с учетом выявления существенного вклада изменения валютного курса в индекс потребительских цен предлагается более пристальное внимание уделять влиянию Банка России на обменный валютный курс

ПРОБЛЕМЫ ФИНАНСИРОВАНИЯ ЗДРАВООХРАНЕНИЯ

The main challenge for the Russian health care system is the need to solve the problem of increasing the efficiency of the financial mechanism while reducing the amount of public funding. The transition to single-channel financing was accompanied by a worsening of the financial situation in many medical organizations, which was caused by such factors as the declining funding of the industry and the increase in prices for medicines, medical equipment, consumables, accompanied by the introduction of anti-Russian sanctions. Only for Federal healthcare institutions have changes in the sources of public funding really played a negative role, but this was due to shortcomings in the organizational work on the transition to a single-channel system. In this work the study of foreign practice of the organization of health financing, identified the predominant sources of health financing in the international practice, noted the benefits of budget financing.Главным вызовом для российской системы здравоохранения выступает необходимость решения проблемы повышения эффективности финансового механизма при сокращении размеров государственного финансирования.Переход к одноканальному финансированию сопровождался ухудшением финансовой ситуации во многих медицинских организациях, причиной чего выступили такие факторы, как снижающееся финансирование отрасли и рост цен на медикаменты, медицинское оборудование, расходные материалы, сопровождающееся введением антироссийских санкций. Лишь для федеральных учреждений здравоохранения изменения в источниках государственного финансирования действительно сыграли негативную роль, но связано это было с недостатками в организационной работе по переходу к одноканальной системе. В данной работе проведено исследование зарубежной практики организации финансирования здравоохранения, выявлены преимущественные источники финансирования здравоохранения в зарубежной практике, отмечены преимущества бюджетного финансирования

The Formation of the Organizational-Economic Mechanism in the Risk-Divided Partnership of the State and Business in High-Tech Sectors

The article presents the original criteria-based approach to sharing risks between participants in a risk-divided partnership between government and business in high-tech industries. This is built on the basis of quantitative and qualitative criteria. They take into account the adaptation of each specific project to the conditions of the external and internal environment. A typology of the levels of the organizational and economic mechanism of risk management of a risk-divided partnership is proposed; and a functional matrix of typological levels is developed. The authors additionally discuss such an element of the mechanism as the formation of targeted enlarged groups (TEG) of risks in the implementation of a risk-divided partnership between the state and business in high-tech industries

EVALUATION AND PREDICTION MODELLING ON FINANCIAL AND TAX RISKS OF A MULTINATIONAL COMPANY

This study sought to find out the management practices employed by multinational companies in controlling the financial and tax risks they are exposed to. It also assessed the management practices used by multinational companies in the recent financial crisis. This study is relevant since multinational companies located in developing countries operate under different business environments. Hence, multinational companies in developing countries should control financial risk by using management practices conducive for the environment they operate in. Chevron Corporation was used as a case study. Data were obtained from its annual financial statement published on their website covering the period of year 2009-2018. Based on the result of the Step-wise regression analysis we identified the significant predictors in conditions of the economic environment to estimate the corporate prosperity and profitability measure of Chevron Corp.В исследовании была предпринята попытка выявить методы управления, применяемые транснациональными компаниями для контроля финансовых и налоговых рисков, которым они подвергаются. Дана оценка методов управления, использованных транснациональными компаниями во время недавнего финансового кризиса. Это исследование актуально, поскольку транснациональные компании, расположенные в развивающихся странах, работают в разных бизнес-средах. Они должны контролировать финансовые риски, используя методы управления, благоприятные для среды, в которой они работают. В качестве примера использовалась корпорация Chevron. На основе результатов пошагового регрессионного анализа были определены важные предикторы в условиях экономической среды для оценки корпоративного процветания и показателя прибыльности

ПРОБЛЕМЫ ФИНАНСИРОВАНИЯ ЗДРАВООХРАНЕНИЯ

The main challenge for the Russian health care system is the need to solve the problem of increasing the efficiency of the financial mechanism while reducing the amount of public funding. The transition to single-channel financing was accompanied by a worsening of the financial situation in many medical organizations, which was caused by such factors as the declining funding of the industry and the increase in prices for medicines, medical equipment, consumables, accompanied by the introduction of anti-Russian sanctions. Only for Federal healthcare institutions have changes in the sources of public funding really played a negative role, but this was due to shortcomings in the organizational work on the transition to a single-channel system. In this work the study of foreign practice of the organization of health financing, identified the predominant sources of health financing in the international practice, noted the benefits of budget financing.Главным вызовом для российской системы здравоохранения выступает необходимость решения проблемы повышения эффективности финансового механизма при сокращении размеров государственного финансирования.Переход к одноканальному финансированию сопровождался ухудшением финансовой ситуации во многих медицинских организациях, причиной чего выступили такие факторы, как снижающееся финансирование отрасли и рост цен на медикаменты, медицинское оборудование, расходные материалы, сопровождающееся введением антироссийских санкций. Лишь для федеральных учреждений здравоохранения изменения в источниках государственного финансирования действительно сыграли негативную роль, но связано это было с недостатками в организационной работе по переходу к одноканальной системе. В данной работе проведено исследование зарубежной практики организации финансирования здравоохранения, выявлены преимущественные источники финансирования здравоохранения в зарубежной практике, отмечены преимущества бюджетного финансирования

Indicative approaches in forecasting of industry indexes

To prepare for modernisation at the level of an individual enterprise or the entire industry as a whole, the information about the possible direction and speed of market development is needed, so it is necessary to carry out the forecasting procedure. This article is devoted to short-term forecasting of the possible direction of development of the industry in the Russian economy. The article is based on the use of such tools as groups of financial multipliers, which are formed at the intersection of the production and stock dimensions of the industry. The proposed financial multipliers are considered in the dynamics, and the received signals from the proposed indicators are combined and compared with the dynamics of the development of stock instruments (stock value or the value of the industry index) in the process of assessing the quality of the received forecast. Copyright © 2019 Inderscience Enterprises Ltd

Оценка рейтингов банков и их конкурентных позиций: обзор методологий рейтинговых агентств

This paper analyzes methodologies of credit rating assessment of major rating agencies, with the focus on Fitch Ratings (Fitch). The methodology data were collected from Fitch Ratings. Also, the article review international literacy for factors and indicators adequacy in rating assessments. The purpose of this research is to overview literacy for the primary methodologies of banks' credit rating assessment. It was explained that ratios from financial indicators are most important for credit rating assessment. In some cases, in sovereign countries, support and macroeconomic factors are significant. We concluded that this area is still not enough researched and that in the future, the number of studies will appear with different methodological proposals and improvements.В статье анализируются подходы к оценке кредитного рейтинга крупных рейтинговых агентств. Целью исследования является обзор методологий оценки кредитного рейтинга банков. Изучаемые методологии оценки были получены из Fitch Ratings. Рассматривается международная буквенная категория с точки зрения факторов и показателей адекватности в рейтинговых оценках. В результате исследования было выявлено, что соотношения финансовых показателей являются наиболее важными для оценки кредитного рейтинга. Авторы пришли к выводу, что подходы к рэнкингу еще недостаточно изучены и в будущем число исследований с различными методологическими предложениями и улучшениями будет увеличиваться

The Formation of the Organizational-Economic Mechanism in the Risk-Divided Partnership of the State and Business in High-Tech Sectors

The article presents the original criteria-based approach to sharing risks between participants in a risk-divided partnership between government and business in high-tech industries. This is built on the basis of quantitative and qualitative criteria. They take into account the adaptation of each specific project to the conditions of the external and internal environment. A typology of the levels of the organizational and economic mechanism of risk management of a risk-divided partnership is proposed; and a functional matrix of typological levels is developed. The authors additionally discuss such an element of the mechanism as the formation of targeted enlarged groups (TEG) of risks in the implementation of a risk-divided partnership between the state and business in high-tech industries. © 2021, Springer Nature Switzerland AG

Issues of developing the tool for diagnosis of energy efficiency level of Russian regions’ economy

The article gives analysis of approaches to evaluation of energy efficiency of a territory’s economy established in the global and Russian practice; identifies key features of implementation of index approach to diagnostics based on common techniques of decomposition, or factor, analysis of indices; indicative approach based on calculation of energy security and energy performance figures. Comparison of multi-dimensional and ranking approaches in usage of energy efficiency evaluation diagnostics tools was also performed. Based on application of the existing tools the characteristics of present-day state of energy efficiency of Russian economy was given and key problems of increasing thereof were emphasized. The authors suggested mechanism of usage of the indicative method in diagnostics of energy efficiency level of a territory’s economy, which ensures identification of the weakest points of energy efficiency enhancement, forecasting of consequences thereof, taking of contemporary managerial solutions with regard to further actions. © 2018, Econjournals. All rights reserved