CORPORATE FINANCIAL HEALTH ASSESSMENT: METHODS AND TOOLS FOR EMERGING MARKETS

В статье рассматриваются методические подходы к оценке корпоративного финансового здоровья. Цель исследования заключалась в систематизации соответствующих методов и инструментов в контексте инвестиционного мониторинга с акцентом на уровень финансового развития. Методология исследования базировалась на допущении о трех ключевых теоретических основах оценки финансового здоровья корпораций: прогнозирование банкротства, инвестиционный анализ и оценка финансовых систем. Основной предпосылкой исследования являлось то, что выбор методов и инструментов оценки финансового здоровья корпораций на формирующихся рынках лежит в области моделей прогнозирования банкротства. Кроме того, целесообразно проанализировать потенциал структурных моделей прогнозирования банкротства, принципы которых наиболее тесно связаны с инвестиционным анализом. Наконец, результаты систематизации методических подходов в области исследований необходимо скорректировать с учетом инструментария оценки финансовых систем. Исследование показало, что специфика оценки финансового здоровья корпораций на формирующихся рынках связана с ее теоретическим, методологическим и информационным обеспечением. Фокус соответствующих методов и инструментов остается в плоскости моделей прогнозирования банкротства. Модели, основанные на рыночных показателях, могут применяться к публичным компаниям, однако их применимость должна проверяться с учетом информационных ограничений. Факторы корпоративного финансового здоровья, в свою очередь, могут быть подразделены на рыночные и специфические, корректируемые на уровень финансового развития.The paper address the methodological approaches to the corporate financial health assessment. The research purpose was to systematize corresponding methods and tools in the context of investment monitoring, with an emphasis on the level of financial development. The research methodology was based on the assumption that there are three key theoretical foundations for corporate financial health assessment: bankruptcy prediction, investment analysis and financial systems assessment. The main prerequisite of the research is that the choice of methods and tools to the corporate financial health assessment in emerging markets lies in the field of bankruptcy prediction models. Besides, it is advisable to analyze the potential of structural models for bankruptcy prediction, the principles of which are most closely related to investment analysis. Finally, the results of methodological approaches systematization in the research field need to be adjusted to the instruments of financial systems assessment. The research shows that the specifics of corporate financial health assessment in the emerging markets is associated with its theoretical, methodological and informational support. The focus of relevant methods and tools remains in the plane of bankruptcy prediction models. The models based on market indicators can be applied to public companies, but their applicability should be tested taking into account information limitations. Factors of corporate financial health, in turn, can be subdivided into market and specific ones, being adjusted for the level of financial development

Оценка корпоративного финансового здоровья: инструменты для формирующихся рынков

The paper address the methodological approaches to the corporate financial health assessment. The research purpose was to systematize corresponding methods and tools in the context of investment monitoring, with an emphasis on the level of financial development. The research methodology was based on the assumption that there are three key theoretical foundations for corporate financial health assessment: bankruptcy prediction, investment analysis and financial systems assessment. The main prerequisite of the research is that the choice of methods and tools to the corporate financial health assessment in emerging markets lies in the field of bankruptcy prediction models. Besides, it is advisable to analyze the potential of structural models for bankruptcy prediction, the principles of which are most closely related to investment analysis. Finally, the results of methodological approaches systematization in the research field need to be adjusted to the instruments of financial systems assessment. The research shows that the specifics of corporate financial health assessment in the emerging markets is associated with its theoretical, methodological and informational support. The focus of relevant methods and tools remains in the plane of bankruptcy prediction models. The models based on market indicators can be applied to public companies, but their applicability should be tested taking into account information limitations. Factors of corporate financial health, in turn, can be subdivided into market and specific ones, being adjusted for the level of financial development.В статье рассматриваются методические подходы к оценке корпоративного финансового здоровья. Цель исследования заключалась в систематизации соответствующих методов и инструментов в контексте инвестиционного мониторинга с акцентом на уровень финансового развития. Методология исследования базировалась на допущении о трех ключевых теоретических основах оценки финансового здоровья корпораций: прогнозирование банкротства, инвестиционный анализ и оценка финансовых систем. Основной предпосылкой исследования являлось то, что выбор методов и инструментов оценки финансового здоровья корпораций на формирующихся рынках лежит в области моделей прогнозирования банкротства. Кроме того, целесообразно проанализировать потенциал структурных моделей прогнозирования банкротства, принципы которых наиболее тесно связаны с инвестиционным анализом. Наконец, результаты систематизации методических подходов в области исследований необходимо скорректировать с учетом инструментария оценки финансовых систем. Исследование показало, что специфика оценки финансового здоровья корпораций на формирующихся рынках связана с ее теоретическим, методологическим и информационным обеспечением. Фокус соответствующих методов и инструментов остается в плоскости моделей прогнозирования банкротства. Модели, основанные на рыночных показателях, могут применяться к публичным компаниям, однако их применимость должна проверяться с учетом информационных ограничений. Факторы корпоративного финансового здоровья, в свою очередь, могут быть подразделены на рыночные и специфические, корректируемые на уровень финансового развития

Recent advances in chemical sensors for soil analysis: a review

The continuously rising interest in chemical sensors' applications in environmental monitoring, for soil analysis in particular, is owed to the sufficient sensitivity and selectivity of these analytical devices, their low costs, their simple measurement setups, and the possibility to perform online and in-field analyses with them. In this review the recent advances in chemical sensors for soil analysis are summarized. The working principles of chemical sensors involved in soil analysis; their benefits and drawbacks; and select applications of both the single selective sensors and multisensor systems for assessments of main plant nutrition components, pollutants, and other important soil parameters (pH, moisture content, salinity, exhaled gases, etc.) of the past two decades with a focus on the last 5 years (from 2017 to 2021) are overviewed

Значение устойчивых финансов для развитых и развивающихся стран

Статья посвящена актуальному вопросу о значении устойчивых финансов для развитых и развивающихся стран. Рассматриваются финансовые аспекты в системе целей и задач устойчивого развития; концепция устойчивых финансов, предпосылки и драйверы ее внедрения и дальнейшего развития

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В докладе рассматривается, как осуществляется финансирование карбонового земледелия в Европейском союзе. Таким образом, анализируются проблемы адаптации данного опыта и вносятся предложения для стран с развивающимся рынком на примере Российской Федерации

Experience of Developing a database of storytellers of the Yakut Epos

The results of the analysis of the basic principles of compiling the database “Olonkhosuts of Yakutia of the 17th—20th centuries” — about the storytellers of the Yakut national epic are presented. The relevance of the research is determined by some difficulties in the systematization and design of the information content of the repository. A brief overview of the history of the study of the personalities of Yakut storytellers is given, the stages of database development are discussed in detail. It is noted that as a result of the generalization of the material a reference book that contains more than 1300 names of storytellers of the 17th-20th centuries was published by the team of the Olonkho Research Institute of M. K. Ammosov North-Eastern Federal University. Problems identified in the process of filling in the cells are described. Particular attention is paid to entering data in the national language, their transliteration and translation into Russian. The definition of the types of the second names of olonkhosuts is given, the expediency of allocating a separate field for nicknames-pseudonyms reflecting the status and popular recognition of the talent of the narrator is substantiated. A sample database table on olonkhosuts is presented. As a result of the study, the parameters for selecting data for inclusion in the repository were compiled, the need for additional research work to identify the facts of the change of residence of olonkhosuts was determined, and recommendations were proposed for improving the principles of information content of the database

Socio-Economic Situation of the Sverdlovsk Region in 1992: the First Year of “Shock Therapy” (according to Regional Statistics)

The socio-economic status of the Middle Urals in 1992, the first year of the implementation of the well-known program of “shock therapy” is considered. The selected topic seems relevant and of practical importance in the context of studying the mechanism for implementing large-scale reforms. The study was conducted on archival material. It is stated that in the history of modern Russia 1992 is a special period in its socio-economic significance. It is argued that the forms and methods of implementing “shock therapy” in Russia have left a deep, controversial and generally disturbing impression in the memory of most of its population. It is declared that the “shock therapy” of the 1990s in Russia in its essence was very similar to the new economic policy of the 1920s. It is shown that in the end of 1991 the USSR economy was in a state of deep systemic crisis and with virtually no reserves, on the verge of a complete collapse. It is noted that in 1992 the level of per capita consumption of food and non-food products by the majority of the population of the Sverdlovsk region continued to decrease. It is proved that the Sverdlovsk region in the Soviet period of the XX century was turned into a region with a hypertrophied industrial sector of the economy. It is concluded that the influence of long-term socio-economic mechanisms launched in 1992, will be experienced by the Russian society for a very long time

A case report of dopa-responsive dystonia in a young woman

Dopa-responsive dystonia (DRD) is a rare progressive genetically heterogenous disorder with pediatric onset. DRD is 3 times as prevalent in women than in men. This article reports a clinical case of DRD in a young female presenting with paraparesis, foot dystonia (more pronounced in the right foot) and pronounced walking impairment, who was admitted for emergency treatment to a Neurology Unit. Based on the additional tests, which included a levodopa trial and Sanger sequencing, the patient was diagnosed with DRD. Levodopa caused a considerable improvement of the symptoms. The article describes the clinical features of the disease, talks about its differential diagnosis, genetic predisposition and treatment strategy. © 2020 Pirogov Russian National Research Medical University. All rights reserved

Финансовое развитие в контексте моделей национального благосостояния

В статье поднимается проблема взаимосвязи финансового развития с моделью национального благосостояния. Выявлена положительная связь уровня финансового развития с моделью созданного благосостояния и отрицательная – с моделью унаследованного благосостояния

Problems of Selecting an Anticoagulant for Secondary Stroke Prevention in Patients with Atrial Fibrillation

The article describes the urgent problem of ischemic stroke prevention in patients with atrial fibrillation. It is proved that ischemic stroke in combination with AF is the most severe in terms of developing stable motor and speech disorders and disability. The frail older patients, as well as patients with swallowing disorders and reduced medical adherence present a special problem from this point of view. The most famous clinical studies on secondary prevention of cardioembolic stroke are RE-LY, ROCKET-AF, and ARISTOTLE. Based on subanalyses of randomized controlled trials, direct oral anticoagulants demonstrated a favorable efficacy profile in patients with atrial fibrillation and stroke/ transient ischemic attack, but the level of knowledge on each of them remained different. A number of advantages of rivaroxaban for primary and secondary prevention of stroke in patients with atrial fibrillation, including the elderly and patients with cognitive impairments and swallowing disorders, have been demonstrated. © 2021 Vserossiiskoe Obshchestvo Kardiologov. All rights reserved.Relationships and Activities. This publication was supported by AO Bayer (PPM_RIVRU00581)