Current state and development prospects of the Russian economy

The article characterises changes that have occurred in the economy of Russia and its foreign trade over the recent years. It estimates the country's position in the world ranking. The process of Russia's involvement in integrated world economic development after the collapse of the socialist system has been far from simple, because it was simultaneous with the country's system transformation and economic restructuring. The economy of modern Russia operates in difficult conditions. In the 20th century the burden of the socialist period of the country's development combined with the mistakes of the structural economic transformation of the 1990s already generated new systemic disproportions which have greatly modified the entire economic complex of the country. An analysis of the Russian share in the production of principal types of industrial products over the last three decades as well as a comparison of particular development indicators of the largest world economies and the share of countries and country groups in the world's high technology production reveals a weakening of the Russian position in the world economy. The article also presents changes in Russia's foreign trade and the decrease in its main economic indicators in the conditions of the current world financial crisis. The article underlines the necessity of change in the current model of Russian participation in the globalising world towards a search for a new place in the world economy and the world market, and, first of all, in knowledge-intensive industries and the sphere of high technology

Engaging on corporate social responsibility : the impact of FTSE4Good on environmental management, countering bribery and mitigating climate change

This thesis examines the effect of a responsible investment index (FTSE4Good) on corporate social responsibility (CSR). In the first study I investigate the impact of the FTSE engagement reinforced by the threat of exclusion from the index on companies’ improvements in environmental management. The results show that FTSE involvement doubles the probability that a company will meet stricter environmental management requirements within the three-year period 2002 to 2005. Both the dialogue and the exclusion threat stimulate compliance but the dialogue appears to be more effective where the perceived threat of exclusion is higher. The engagement effect persists for at least five years and is positively related to low concentrated ownership and to domicile in a coordinated market economy. In the second study I examine FTSE4Good’s effect on the probability that a company will implement strong countering bribery practices within the two-year time period 2007 to 2009. The results demonstrate that the combined effect of engagement and exclusion threat is significant in promoting compliance and the two act independently. Stronger anti-bribery provisions are positively associated with companies based in liberal market economies, with better internal governance and higher reputational concerns related to ethical controversies. In the third study I investigate FTSE4Good’s impact on companies’ compliance with climate change criteria. The results show that the index is able to stimulate compliance and the dialogue appears to contribute more than the exclusion threat. I also find that the likelihood of the company adopting the required practices is negatively associated with concentrated ownership and with strong internal governance. Finally, the results offer some evidence that compliance is related to subsequent reduction in greenhouse gas emissions. These studies contribute to the understanding as to how different CSR areas are promoted or discouraged by the managers and the owners, and how the institutional environment influences this. The results are consistent with engagement via a responsible investment index being an effective means of large-scale collective monitoring by institutional investors. The findings are also relevant for policy makers who wish to promote active ownership

Corporate Social Responsibility and Earnings Quality in the Context of Changing Regulatory Regimes and the Financial Crisis

The objective of this paper is to examine the relationship between corporate social responsibility (CSR)and earnings management in the context of changing regulatory regimes and the financial crisis. Usinga sample of 18,472 U.S. firm-year observations that represents more than 2,500 individual firms over theperiod of 1993 to 2018, we employ several panel-data regression models and find that firms with higherCSR engagement have higher discretionary accruals before the Sarbanes Oxley Act of 2002 (SOX) andlower thereafter. Moreover, the relationship between CSR and discretionary accruals is moderated by themanagerial equity incentives. Firms practicing CSR with low incentive alignment are more likely to havehigh discretionary accruals and receive more regulatory scrutiny from SOX. In contrast, we find high-CSRfirms engage less in costly real earnings management in both pre- and post-SOX periods. Using the 2008-2009 financial crisis as an external shock via the difference-in-difference method (DiD), our results showthat high-CSR firms engage less in earnings management during the financial crisis. The implications ofour findings suggest that when facing the trade-off between different types of earnings management, high-CSR firms tend to engage in less costly earnings management. Our study contributes to the burgeoningliterature on the influence of CSR on financial reporting practices by examining the relationship undervarious contexts and highlighting the importance of the recent regulatory framework for financial reportingquality.El objetivo de este trabajo es examinar la relación entre la responsabilidad social corporativa (RSC) y lagestión de los beneficios en el contexto de cambios en los regímenes regulatorios y la crisis financiera.Utilizando una muestra de 18.472 observaciones de empresas estadounidenses que representan más de2.500 empresas individuales durante el período de 1993 a 2018, empleamos varios modelos de regresión dedatos de panel y encontramos que las empresas con mayor compromiso de RSC tienen mayores devengosdiscrecionales antes de la Ley Sarbanes Oxley de 2002 (SOX) y menores después. Además, la relación entrela RSC y la acumulación discrecional está moderada por los incentivos de los directivos. Las empresasque practican la RSC con una baja alineación de los incentivos tienen más probabilidades de tener unosdevengos discrecionales elevados y de recibir un mayor escrutinio normativo de la SOX. Por el contrario,encontramos que las empresas con un alto nivel de RSC se involucran menos en la costosa gestión de losbeneficios reales, tanto en los períodos anteriores como posteriores a la SOX. Utilizando la crisis financierade 2008-2009 como un shock externo a través del método de diferencia en diferencia (DiD), nuestrosresultados muestran que las empresas de alta RSC participan menos en la gestión de beneficios durante lacrisis financiera. Las implicaciones de nuestros resultados sugieren que cuando las empresas se enfrentan adiferentes tipos de gestión de beneficios, las que tienen un alto nivel de RSC tienden a realizar una gestiónde beneficios menos costosa. Nuestro estudio contribuye a la floreciente literatura sobre la influencia de laRSC en las prácticas de información financiera, examinando la relación en varios contextos y destacandola importancia del reciente marco normativo para la calidad de la información financiera

O PAPEL DA ACREDITAÇÃO NA GARANTIA DA QUALIDADE DO ENSINO SUPERIOR NA UCRÂNIA

The article examines the problems and prospects of the accreditation system as a tool for ensuring the quality of higher education in Ukraine. The state and peculiarities of integration of the Ukrainian accreditation system into the European context are investigated. The purpose of this study is to analyse the accreditation system of higher education in Ukraine and to study its impact on ensuring the quality of education in accordance with European standards. The emphasis is placed on analysing the theoretical and practical aspects of accreditation in Ukraine, identifying problems and opportunities for further improvement. The study uses general scientific methods. The method of documentary analysis was also used. The article examines topical issues related to the accreditation system of higher education in Ukraine, in particular the factors that affect its effectiveness and compliance with European standards. The analysis of the state of integration of the Ukrainian accreditation system into the European dimension has revealed key challenges and prospects. The theoretical aspect of the study highlights the conceptual foundations of accreditation, its goals, and impact on the quality of education. The practical analysis revealed problems such as the lack of a unified assessment methodology and insufficient coordination between accreditation bodies. The results of the study can serve as a basis for developing specific strategies and recommendations to improve the effectiveness of accreditation and maintain higher quality standards in Ukrainian higher education. The article emphasises that accreditation is an important tool for monitoring and ensuring the quality of higher education in Ukraine. It serves not only as a mechanism for determining the compliance of higher education institutions with the established standards but also guarantees a high standard of education and compliance with academic standards. Recommendations for improving the quality of higher education in Ukraine are proposed, taking into account the European experience in the field of accreditation. The study emphasises the importance of affinity with European models and the need for active cooperation to ensure a high standard of quality of higher education in Ukraine.O artigo examina os problemas e as perspectivas do sistema de acreditação como instrumento para garantir a qualidade do ensino superior na Ucrânia. São investigados o estado e as particularidades da integração do sistema de acreditação ucraniano no contexto europeu. O objetivo deste estudo é analisar o sistema de acreditação do ensino superior na Ucrânia e estudar o seu impacto na garantia da qualidade do ensino de acordo com as normas europeias. A ênfase é colocada na análise dos aspectos teóricos e práticos da acreditação na Ucrânia, identificando problemas e oportunidades de melhoria. O estudo utiliza métodos científicos gerais. Foi também utilizado o método de análise documental. O artigo examina questões actuais relacionadas com o sistema de acreditação do ensino superior na Ucrânia, em particular os factores que afectam a sua eficácia e conformidade com as normas europeias. A análise do estado de integração do sistema de acreditação ucraniano na dimensão europeia revelou os principais desafios e perspectivas. O aspeto teórico do estudo destaca os fundamentos conceptuais da acreditação, os seus objectivos e o seu impacto na qualidade do ensino. A análise prática revelou problemas como a falta de uma metodologia de avaliação unificada e uma coordenação insuficiente entre os organismos de acreditação. Os resultados do estudo podem servir de base para o desenvolvimento de estratégias e recomendações específicas para melhorar a eficácia da acreditação e manter padrões de qualidade mais elevados no ensino superior ucraniano. O artigo sublinha que a acreditação é um instrumento importante para monitorizar e garantir a qualidade do ensino superior na Ucrânia. Serve não só como mecanismo para determinar a conformidade das instituições de ensino superior com as normas estabelecidas, mas também garante um elevado nível de ensino e o cumprimento das normas académicas. São propostas recomendações para melhorar a qualidade do ensino superior na Ucrânia, tendo em conta a experiência europeia no domínio da acreditação. O estudo sublinha a importância da afinidade com os modelos europeus e a necessidade de uma cooperação ativa para garantir um elevado nível de qualidade do ensino superior na Ucrânia

Determinants of Pedestrian–Vehicle Crash Severity: Case of Saint Petersburg, Russia

This article investigates factors that explain pedestrian injury severity levels in Saint Petersburg, Russia during the 2015–2021 period. The research takes into account such factors as weather conditions, infrastructure factors, human factors, and lighting conditions to assess their influence on pedestrian injury severity in pedestrian–vehicle crashes. The most influential factors are lighting conditions, particularly the lack of lighting when it is dark, which are associated with a 14.9% increase in fatal accidents. The greatest impact on the increase of fatal accidents due to road infrastructure conditions relates to road barrier shortcomings (4.7%). Such infrastructure road conditions as restraint system for pedestrians and horizontal markings also have a significant effect on fatal outcomes, increasing them by 1.4% and 0.7%, respectively. The obtained results may serve as a basis for St. Petersburg authorities to develop new road safety policies

Social and Cultural Aspects of Modern Urban Space Gentrification

Modern cities play a special role in globalization processes. They are like the living reflection of the transformation processes taking place in our society. Such processes find expression in changes of infrastructure space of the city, and social and economic weight of urban areas. This paper deals with the processes of transformation of urban space. We consider gentrification as one of trends of modern city development, and we discuss its role as a social, economic and cultural issue. The work focuses on European and Russian examples of gentrification examining aspects such as culture, squatting, creative clusters, or Disneyfication. Based on the analysis conducted, we draw conclusions on the positive(settlement of vacant buildings; renovation buildings; revitalization of the community, etc.) and negative (increase in the cost of living, uncontrolled change of the architectural appearance of the space, etc.) consequences of gentrification in modern urban spaces. We also suggest the necessity of implementing successful practices of gentrification in urban policy for Europe and other regions of the World