Tráfico de internet y desempeño de las empresas en sectores de alto costo: hay dos caras de la moneda

The importance of well-established and customer-friendly firms’ websites has increased in the context of the digitalization of the economy. The COVID-19 pandemic has become a new driver for the development of Internet communications between manufacturers and consumers. This article explores the relationship between the Internet traffic of companies’ websites of and their sales volumes and profitability. We apply panel data regression analysis and model of Prais–Winsten regression with panel standard error adjustment, which provides conservative and reliable estimates. In the sample of 268 observations drawn from 67 Russian firms operating in the big-ticket industries of car manufacturing and real estate development during the period of 2017- 2022 characterized by a major exogenous shock, we demonstrate that internet traffic exerts a positive effect on firm sales. At the same time, this positive effect on sales is accompanied by a negative effect of internet traffic on firm profitability. The negative effect on profitability is particularly pronounced for younger firms that are likely to face severe resource constraints and can thus be said to sacrifice profitability to ensure sales. In such situation, application of cost-effective strategies may be critical for younger firms. Younger firms should pay particular attention to the contents of their websites to ensure that they provide enough adequate information that will help win the trust of new customers.En el contexto de la digitalización de la economía ha aumentado la importancia de los sitios web de las empresas, bien establecidos y fáciles de usar. La pandemia de COVID-19 se ha convertido en un nuevo motor para el desarrollo de las comunicacionespor internet entre fabricantes y consumidores. Este artículo explora la relación entre el tráfico de internetde los sitios web de las empresas y sus volúmenes de ventas y rentabilidad. Aplicamos el análisis de regresión de datos de panel y modelo de regresión de Prais-Winsten con ajuste de error estándar de panel, que proporciona estimaciones conservadorasy confiables. Sobre la muestra de 268 observaciones extraídas de 67 empresas rusas que operan en las industrias de gran valor de la fabricación de automóviles y el desarrollo inmobiliario durante el período 2017-2022 caracterizado porun gran impacto exógeno, demostramos que el tráfico de internet ejerce un efecto positivo en la empresa. Al mismo tiempo,este efecto positivo sobre las ventas va acompañado de un efecto negativo del tráfico de internet sobre la rentabilidad de la empresa. El efecto negativo sobre la rentabilidad es particularmente pronunciado para las empresas más jóvenes que probablemente enfrenten severas limitaciones de recursos y, por lo tanto, puede decirse que sacrifican la rentabilidad para asegurar las ventas. En esta situación, la aplicación de estrategias rentables puede ser fundamental para las empresas más jóvenes. Las empresas más jóvenes deben prestar especial atención a los contenidos de sus sitios web para asegurarse de que proporcionen suficiente información adecuada que ayude a ganar la confianza de nuevos clientes

Tráfico de internet y desempeño de las empresas en sectores de alto costo: hay dos caras de la moneda

En el contexto de la digitalización de la economía ha aumentado la importancia de los sitios web de las empresas, bien establecidos y fáciles de usar. La pandemia de COVID-19 se ha convertido en un nuevo motor para el desarrollo de las comunicaciones por internet entre fabricantes y consumidores. Este artículo explora la relación entre el tráfico de internet de los sitios web de las empresas y sus volúmenes de ventas y rentabilidad. Aplicamos el análisis de regresión de datos de panel y modelo de regresión de Prais-Winsten con ajuste de error estándar de panel, que proporciona estimaciones conservadoras y confiables. Sobre la muestra de 268 observaciones extraídas de 67 empresas rusas que operan en las industrias de gran valor de la fabricación de automóviles y el desarrollo inmobiliario durante el período 2017-2022 caracterizado por un gran impacto exógeno, demostramos que el tráfico de internet ejerce un efecto positivo en la empresa. Al mismo tiempo, este efecto positivo sobre las ventas va acompañado de un efecto negativo del tráfico de internet sobre la rentabilidad de la empresa. El efecto negativo sobre la rentabilidad es particularmente pronunciado para las empresas más jóvenes que probablemente enfrenten severas limitaciones de recursos y, por lo tanto, puede decirse que sacrifican la rentabilidad para asegurar las ventas. En esta situación, la aplicación de estrategias rentables puede ser fundamental para las empresas más jóvenes. Las empresas más jóvenes deben prestar especial atención a los contenidos de sus sitios web para asegurarse de que proporcionen suficiente información adecuada que ayude a ganar la confianza de nuevos clientes.//The importance of well-established and customer-friendly firms’ websites has increased in the context of the digitalization of the economy. The COVID-19 pandemic has become a new driver for the development of Internet communications between manufacturers and consumers. This article explores the relationship between the Internet traffic of companies’ websites of and their sales volumes and profitability. We apply panel data regression analysis and model of Prais–Winsten regression with panel standard error adjustment, which provides conservative and reliable estimates. In the sample of 268 observations drawn from 67 Russian firms operating in the big-ticket industries of car manufacturing and real estate development during the period of 2017- 2022 characterized by a major exogenous shock, we demonstrate that internet traffic exerts a positive effect on firm sales. At the same time, this positive effect on sales is accompanied by a negative effect of internet traffic on firm profitability. The negative effect on profitability is particularly pronounced for younger firms that are likely to face severe resource constraints and can thus be said to sacrifice profitability to ensure sales. In such situation, application of cost-effective strategies may be critical for younger firms. Younger firms should pay particular attention to the contents of their websites to ensure that they provide enough adequate information that will help win the trust of new customers

Well-Being Indices Comparative Analysis: Russia And Foreign Countries

Using the OECD’s data, we study well-being indices comparison main areas for Russia and economically developed countries. The tendency of unleading countries to find mechanisms of economic growth by the welfare various aspects impact is noted. We used the method of complex efficiency estimation to solve the problem of economic well-being analysis. We assessed the effectiveness and optimality of economic well-being of the population. The effectiveness assessment of economic well-being in Russia revealed a significant gap from foreign countries by most indices. The optimality assessment of economic well-being did not reveal any major differences in values between men and women both in Russia and in foreign countries, but allowed to establish a greater gap between the values of indicators of leading and lagging groups in Russia than in other countries. Indicators ratio of lagging groups in Russia with foreign countries was worse than the ratio of indicators at the entire population level. The results of the economic well-being analysis are advisable to consider in the process of state regulation in Russia. State support of social services should be a priority of social and economic policy on the federal and regional authorities. Our analysis justifies the recommendation to reduce the gap between rich and poor groups of Russia's population by using various regulatory tools, including a progressive scale for a number of taxes

Domestic and Foreign Firms in Russian Food Industry for the Period of 2005-2014

The article studies the economic and social results of companies in Russian (domestic) ownership (RO) and companies in foreign and joint ownership (FJO) in the food industry of Russia. Using economic analysis and analysis of variance we investigated main indicators for 2005-2014 at the level of Russia and Russian regions. The analysis showed that RO firms are dominating in Russian food industry, but in some regions the foreign and joint firms are prevail. We found that the advanced development of foreign firms was observed during the period of 2005-2013, but the joint firms' share decreased for this period. In 2014 the significant growth of RO firms' production volumes was revealed. RO firms in 2005-2014 were characterized by employment decrease and labor intensity fall. The FJO firms' employment was stable but they have significantly less employment and much less labor intensity (lower social results) in a comparison with RO firms. Keywords: Domestic and foreign and joint enterprises, food industry, economic analysis, analysis of variance, Russia and Russian regions. JEL Classifications: O100, L660, C100

Development of Domestic and Foreign Industrial Enterprises in Russia

The paper analyzes the Russian industry ownership structure and its dynamics for enterprises in Russian (RO), foreign (FO) and joint (JO) ownership in stable periods 2005-2008, 2009-2014, and crisis ones 2008-2009 and 2014-2015. We apply the multivariate statistical analysis of time series, including factor analysis, cluster analysis, analysis of variance. We find that raw material and low-tech industries (CA, DF, DJ, DA) continue to be the leaders by the value of shipped products in Russia. The main group of high-tech and medium-tech industries with enterprises in RO (DL, DM, DK, DG) demonstrates the average growth rates and cannot close the gap on leaders. Industry sectors with enterprises in the FO and JO behave differently. Some industries demonstrate outstripping growth, but several sectors show a slowdown and instability in the development for 2009-2014. We also define the industries which negatively react to both crises periods and require state support. Keywords: Domestic and foreign and joint enterprises, Russian manufacturing development, economic crisis, multivariate statistical analysis. JEL Classifications: C100, L600, O47

Investment attractiveness of closed-end real estate investment funds in Russia: factor score evaluation

Closed-end real estate investment fund is currently one of the most popular instruments of collective investments in Russia. In this article, we have designed a factor score method to evaluate the investment attractiveness of closed-end real estate investment funds as the objective of the research. The method differs from others in three elements of attractiveness evaluation: the real estate market, asset management company, and asset portfolio. We suggest evaluating each element by the appropriate factors. In the research, all the factors are grouped and systemized as variable-based and attribute-based factors in the three elements of investment attractiveness. The evaluation is based on the expert scores and factor criteria. Results of the research show the differences between preferences of conservative, moderate and aggressive investors when they invest in closed-end investment fund. The desighed method serves for different types of investors to express their attitude to a specific real estate closed-end fund

Labor Indicators and Manufacturing Companies Ownership Patterns in Russia and its Regions: Results of Quantitative Analysis

Research background: There has been an extensive process of foreign and joint ownership enterprises establishment in the Russian economy since 2006. Domestic manufacturing industry experiences certain pressure on behalf of foreign direct investment bringing new technologies and higher labor requirements. Purpose of the article: The aim of this paper is to investigate differences in employment strategies and labor indicators in the case of enterprises in foreign and joint ownership (FJO) and domestic enterprises in Russian ownership (RO). We analyze the manufacturing industry in Russia and its regions under conditions of stable and crisis periods. Methods: The study enhances the analysis of Rosstat's statistical data for 2005- 2016 and applies ANOVA method to compare the employment results for companies with different ownership patterns. The research is carried out both at the national level of the Russian Federation and at the regional level with the breakdown of the regions. Findings & Value added: The study identifies significant decline in employment and increase in productivity for the period of 2005-2016. In contrast to the crisis of 2008-2009, in 2014-2016 there has been no sharp drop in employment. However, there is a substantial decline in real salaries which is comparable to the crisis of 2008-2009. According to ANOVA, statistically significant differences in labor indicators between FJO and RO companies are manifested. RO companies dominate in employment and payroll funds while FJO enterprises have better productivity results with a higher average salary. FJO companies demonstrated faster growth in employment and payroll fund in relatively stable conditions (2012-2013). However, they reacted with a significant reduction in employment for a new crisis (2014-2016), although the creation of new FJO enterprises continued in separate regions of Russia. The results can be used in social policy to regulate the employment and earnings of industrial workers in the current economic conditions

Income and Wealth Status of Russian and Tomsk Region’s Pensioners

In the article the results of a study of income and material well-being of old generation of Russia and Tomsk Region are presented. Data of Russian federal and regional statistics shows that income of pensioners is growing fast and their wealth status in 2014 can be estimated as acceptable. Analysis of the data of an opinion survey of older people of the Tomsk region does not support this conclusion. According to the regression model in order to achieve a satisfactory standard of living pensioner's income should be at least 13-18 thousand rubles per month, while in 2014 the average pension was lower (about 11-12 thousand rubles). In our opinion state regulation requires further increase in the average pensions, as well as the revision of the minimum consumption basket and minimum needs of subsistence for this group

Developing Databank as an Instrument for the Elder People Wellbeing Analysis

Recent researchers succeed in well-being measuring of elder people life.Russian scientists have to run after the leaders investigating the official statistics data and analyzing the trends of indices. Within the project in Evaluation and enhancement of social, economic and emotional wellbeing of older adults we designed the model of older generation well-being measuring and the database to calculate objective and subjective indices according to this model. This paper is focused on the database created to elder people well-being research. The information system' structure is subscribed. It is consisted of database and web-interface. Either the results of its application for elder people well-being assessing are presented. Using the information system we defined some trends in indices dynamics for Tomsk region at 2000 - 2013. We found the next results: the employed pensioners' number increases significantly, the rural pensioners number is declining. The elder people's availability for using IT grew from 5.56 per cent to 78 per cent of the respondents during 2007-2013. There is a positive dynamics in all analyzed social objects visiting availabilities for elder people. More than 80 per cent of respondents can visit medical clinic, department store, pharmacy and the bank office on foot. The social care and Pension Fund nearness is less

Social Results of Domestic and Foreign Firms: Case Manufacture of Transport Equipment in Russia

The article studies the impact of creation of foreign enterprises on social indicators in the developing countries. We compare social results of foreign and joint enterprises (foreign and joint ownership, FJO) and domestic enterprises (Russian ownership, RO) in manufacturing of transport equipment in various regions of Russia. The multivariate statistical analysis is applied to compare the social results. Using the variance analysis, we find that the level of the average salary and growth rates of employment and payroll of FJO enterprises are higher compared to the RO enterprises. At the same time, FJO enterprises are characterized by a lower labor intensity and payroll-output ratio. The clustering into three pairs of factorial indicators of Russian regions is performed separately for RO and FJO enterprises. The clustering displayed statistically significant differences in the social results among the groups of regions. Keywords: Domestic and foreign and joint enterprises, manufacture of transport equipment, employment and payroll,multivariate statistical  analysis. JEL Classifications: C100, J210, J310, L62