Structure of financing infrastructure project as a factor of its effectiveness

The purpose of this research is to study the need for optimizing the structure of financing the transport infrastructure projects. The analysis of Russian and world practice proves that the financial viability of the project depends largely on the structure of its financing. The study proposes an indicative parameter of assessing the effectiveness of financing the infrastructure projects based on key performance indicators - financial performance indicator with different proportions of equity and debt capital, and different periods of infrastructure facility exploitation. The methodology of finding the indicative parameter includes three steps: considering the effectiveness of the whole project, excluding the impact of the financing structure; considering the effectiveness of the project in the context of different terms of operating concessions, including the impact of the financing structure with government support; identifying the Project's optimal financing structure. The methodology is tested on the construction project of the Moscow-Kazan section of the Moscow-Kazan- Yekaterinburg highspeed railway line

Electronic banking: Tool of transforming the interaction between banks and clients and improving the service quality of the russian banks

The article provides analysis of the electronic banking as an innovative tool of client and bank interaction. Electronic banking is considered as tool fostering business performance by improving service quality improvement. One of the major changes in the banking industry is the development of technology which contributes to the creation of new services and distribution channels. Delivery of high quality services through electronic channels becomes extremely important for banks which want to remain competitive in the market. Electronic banking, saving product line of a bank, radically changes the way of interaction with the customer and improves the quality of banking services. To give an idea about the potential of the Russian industry of electronic banking services, the main factors affecting the development of e-banking in Russia are analyzed, using the tools of regression analysis. The large development potential of ebanking in Russia to provide new and traditional banking products and services to customers through digital technologies

Quality of banking services as a tool for building "Bank - Real sector" effective business models

© Liliana Ikhsanova, Ksenia Lurie, Daniya Bikchantaeva, 2014. The article describes the quality of banking services of Russian credit organizations. In this study the quality means the possibility of banks to meet the needs of the real economy. Quality is an instrument of effective interaction, which refers to the possibility of long-term financing of the real economy while maintaining the profitability of the banking sector. In the study the analysis of credit institutions was done and the basic business model of interaction between banking and real sectors in Russia was described. As the result of the analysis, the level of service quality was revealed

Market risks of financial sector and their impact on the regional institutions

The article considers the impact of components of market risk on its dynamics and structure of the Russian finance industry. It estimates change in the structure and in the number of financial institutions calculating market risk. It also identifies cause and effect link between the changes studied. The reasons of decline in the share of market risk in the general risks of the banking sector and a small growth of the market risk for the 2013-2014. Identifies the source and reasons for changes in the basic structure of the market risk and the built causal relationships change of market risk in the dynamics during the analyzed period. The article analyzes the market risk framework to determine the significance of market risk components in the domestic banking sector. Also referred to the importance of market risk for the medium and large banks that have built risk management policy and who are interested in the prediction of bank risks. In this article are revealed the causes of currency and stock market risk for the 2013-2014 and identified the relative growth of the two risks in the structure of the market risk for 2014. In addition, the article pointed out that throughout the analyzed period, interest rate risk and market risk in the structure of dominance has been defined

Market risks of financial sector and their impact on the regional institutions

The article considers the impact of components of market risk on its dynamics and structure of the Russian finance industry. It estimates change in the structure and in the number of financial institutions calculating market risk. It also identifies cause and effect link between the changes studied. The reasons of decline in the share of market risk in the general risks of the banking sector and a small growth of the market risk for the 2013-2014. Identifies the source and reasons for changes in the basic structure of the market risk and the built causal relationships change of market risk in the dynamics during the analyzed period. The article analyzes the market risk framework to determine the significance of market risk components in the domestic banking sector. Also referred to the importance of market risk for the medium and large banks that have built risk management policy and who are interested in the prediction of bank risks. In this article are revealed the causes of currency and stock market risk for the 2013-2014 and identified the relative growth of the two risks in the structure of the market risk for 2014. In addition, the article pointed out that throughout the analyzed period, interest rate risk and market risk in the structure of dominance has been defined

WEAVE-StePS. A stellar population survey using WEAVE at WHT

The upcoming new generation of optical spectrographs on four-meter-class telescopes will provide valuable opportunities for forthcoming galaxy surveys through their huge multiplexing capabilities, excellent spectral resolution, and unprecedented wavelength coverage. WEAVE is a new wide-field spectroscopic facility mounted on the 4.2 m William Herschel Telescope in La Palma. WEAVE-StePS is one of the five extragalactic surveys that will use WEAVE during its first five years of operations. It will observe galaxies using WEAVE MOS (~950 fibres across a field of view of ~3 deg2 on the sky) in low-resolution mode (R~5000, spanning the wavelength range 3660-9590 AA). WEAVE-StePS will obtain high-quality spectra (S/N ~ 10 per AA at R~5000) for a magnitude-limited (I_AB = 20.5) sample of ~25,000 galaxies, the majority selected at z>=0.3. The survey goal is to provide precise spectral measurements in the crucial interval that bridges the gap between LEGA-C and SDSS data. The wide area coverage of ~25 deg2 will enable us to observe galaxies in a variety of environments. The ancillary data available in each observed field (including X-ray coverage, multi-narrow-band photometry and spectroscopic redshift information) will provide an environmental characterisation for each observed galaxy. This paper presents the science case of WEAVE-StePS, the fields to be observed, the parent catalogues used to define the target sample, and the observing strategy chosen after a forecast of the expected performance of the instrument for our typical targets. WEAVE-StePS will go back further in cosmic time than SDSS, extending its reach to encompass more than ~6 Gyr, nearly half of the age of the Universe. The spectral and redshift range covered by WEAVE-StePS will open a new observational window by continuously tracing the evolutionary path of galaxies in the largely unexplored intermediate-redshift range.Comment: 15 pages, 9 figures, A&A in pres

WEAVE-StePS: A stellar population survey using WEAVE at WHT

Context. The upcoming new generation of optical spectrographs on four-meter-class telescopes will provide valuable opportunities for forthcoming galaxy surveys through their huge multiplexing capabilities, excellent spectral resolution, and unprecedented wavelength coverage. Aims. WEAVE is a new wide-field spectroscopic facility mounted on the 4.2 m William Herschel Telescope in La Palma. WEAVE-StePS is one of the five extragalactic surveys that will use WEAVE during its first five years of operations. It will observe galaxies using WEAVE MOS (∼950 fibres distributed across a field of view of ∼3 square degrees on the sky) in low-resolution mode (R ∼ 5000, spanning the wavelength range 3660-9590 Å). Methods. WEAVE-StePS will obtain high-quality spectra (S/N ∼ 10 Å -1 at R ∼ 5000) for a magnitude-limited (IAB = 20.5) sample of ∼25 000 galaxies, the majority selected at z ≥ 0.3. The survey goal is to provide precise spectral measurements in the crucial interval that bridges the gap between LEGA-C and SDSS data. The wide area coverage of ∼25 square degrees will enable us to observe galaxies in a variety of environments. The ancillary data available in each of the observed fields (including X-ray coverage, multi-narrow-band photometry and spectroscopic redshift information) will provide an environmental characterisation for each observed galaxy. Results. This paper presents the science case of WEAVE-StePS, the fields to be observed, the parent catalogues used to define the target sample, and the observing strategy that was chosen after a forecast of the expected performance of the instrument for our typical targets. Conclusions. WEAVE-StePS will go back further in cosmic time than SDSS, extending its reach to encompass more than ∼6 Gyr. This is nearly half of the age of the Universe. The spectral and redshift range covered by WEAVE-StePS will open a new observational window by continuously tracing the evolutionary path of galaxies in the largely unexplored intermediate-redshift range

Electronic banking: Tool of transforming the interaction between banks and clients and improving the service quality of the russian banks

The article provides analysis of the electronic banking as an innovative tool of client and bank interaction. Electronic banking is considered as tool fostering business performance by improving service quality improvement. One of the major changes in the banking industry is the development of technology which contributes to the creation of new services and distribution channels. Delivery of high quality services through electronic channels becomes extremely important for banks which want to remain competitive in the market. Electronic banking, saving product line of a bank, radically changes the way of interaction with the customer and improves the quality of banking services. To give an idea about the potential of the Russian industry of electronic banking services, the main factors affecting the development of e-banking in Russia are analyzed, using the tools of regression analysis. The large development potential of ebanking in Russia to provide new and traditional banking products and services to customers through digital technologies

Structure of financing infrastructure project as a factor of its effectiveness

The purpose of this research is to study the need for optimizing the structure of financing the transport infrastructure projects. The analysis of Russian and world practice proves that the financial viability of the project depends largely on the structure of its financing. The study proposes an indicative parameter of assessing the effectiveness of financing the infrastructure projects based on key performance indicators - financial performance indicator with different proportions of equity and debt capital, and different periods of infrastructure facility exploitation. The methodology of finding the indicative parameter includes three steps: considering the effectiveness of the whole project, excluding the impact of the financing structure; considering the effectiveness of the project in the context of different terms of operating concessions, including the impact of the financing structure with government support; identifying the Project's optimal financing structure. The methodology is tested on the construction project of the Moscow-Kazan section of the Moscow-Kazan- Yekaterinburg highspeed railway line

Structure of financing infrastructure project as a factor of its effectiveness

The purpose of this research is to study the need for optimizing the structure of financing the transport infrastructure projects. The analysis of Russian and world practice proves that the financial viability of the project depends largely on the structure of its financing. The study proposes an indicative parameter of assessing the effectiveness of financing the infrastructure projects based on key performance indicators - financial performance indicator with different proportions of equity and debt capital, and different periods of infrastructure facility exploitation. The methodology of finding the indicative parameter includes three steps: considering the effectiveness of the whole project, excluding the impact of the financing structure; considering the effectiveness of the project in the context of different terms of operating concessions, including the impact of the financing structure with government support; identifying the Project's optimal financing structure. The methodology is tested on the construction project of the Moscow-Kazan section of the Moscow-Kazan- Yekaterinburg highspeed railway line