Diversification of banking risks in the context of financial globalization

Diversification of financial activity involves the use of alternative income opportunities from various financial transactions - short-term investments, formation of the loan portfolio, portfolio of long-term investments, and the implementation of real investment. In today's highly integrated monetary relations, risk is not an integral part of the economic system. Sensibility to risk increases; factors of its occurrence are becoming more diverse, and the opportunity to diversify and these risks is less realizable in practice. Diversification of banking risks in the context of financial globalization is the basis for the stable operation of the Russian banking sector, in the context of rapidly changing external and internal market conditions, creates a safety factor of strategic development and reform the economy as a whole. Understanding that the risks for the banking activities are not so much the potential loss as possible benefits, involves the development and implementation in practice of new concepts and models of risk diversification for banking activities, leading to the quality of its content mandatory requirements of regulators in the area of risk control. © 2015, Mediterranean Center of Social and Educational Research. All rights reserved

Optimisations of the cost and structure of created investment resources of an entity based on financial leverage elements

The article demonstrates the author's method for cost and structure optimisation of created investment resources of an entity based on financial leverage tools for effective financing of real investments in case of development of an investment strategy for an entity development, namely: - Criteria of investments financing from line items of conservative, compromise, and aggressive approaches are determined using in the scheme of financing owner's capital, and also short-term and long-term loan fund capital; - Step-by-step creation of the financial performances considering industry specifics, scale of functioning of economic agents' activities is offered. Effective activities of the entities in long terms, ensuring high rates of their development and competitiveness increase in the conditions of market economy, are substantially determined by the level of their investment activity and the range of investing activities. One of the main tasks of forming the investment resources is the optimisation of their structure taking into account the profitability level and the investment risk. The optimisation of a capital structure by criterion of financial profitability level maximisation (profitability of the owner's capital) is reached by means of financial leverage mechanism. Profitability level maximisation for the capital considering the set level of financial risk is performed through the financial leverage, showing the use of borrowed funds by the entity. Carrying out complex calculations within the investment analysis with use of mechanisms of financial leverage allows determining the optimum structure of the created investment resources providing maximisation of the profitability level. © 2015, Mediterranean Center of Social and Educational Research. All rights reserved

Financial and credit mechanism for attraction of real investments in a system of money flows regulation

Optimization of funding sources of real investments is a key stage in development and successful functioning of enterprises' investment activity. Currently big attention is drawn to questions of state and private partnership during development of investment projects, as well as to possible prospects of development of state and private interaction forms in investment sphere, and concessions particularly. Improvement of forms of interaction between state and corporate sector of economy in the sphere of real investments and as a part of development of specific priority investment programs requiring considerable investments has a strategic federal and regional value. Thus, it is important to understand role and benefit of each participant of the investment market, to define clear statutory, legislative and contractual base, and to swiftly analyze financial efficiency of real investments at all stages of realization. In modern conditions, stable development of economy of any country depends on condition of investment process. Need to integrate finance capital and to promote investment activity is obvious in new management conditions of market relations development. The main condition of successful investment activity at each stage is a choice of effective and correct finance and credit mechanism as a tool of real investments financing. Prior to suggest modern tools of such financing, it is necessary to analyze theoretically proved program and targeted method of real investments financing within the state and private partnership, in order to improve previously examined methodology. © 2015, Mediterranean Center of Social and Educational Research. All rights reserved

Imperative aspect program and target method financings of real investments

В статье обосновывается, что в современных условиях стабильное развитие экономики любого государства зависит от качественного состояния инвестиционного процесса. В новых условиях хозяйствования в процессе развития рыночных отношений необходимость интеграции финансового капитала, активизации инвестиционной деятельности очевидна. Главным условием успешного осуществления инвестиционной деятельности на каждом ее этапе является выбор эффективного и правильного метода и инструментария финансирования реальных инвестиций.In modern conditions stable development of economy of any state depends on a qualitative condition of investment process. In new conditions of managing in development of the market relations necessity of integration of the financial capital, activization of investment activity is obvious. The main condition of successful implementation of investment activity at each its state is the choice of on effective and correct method and tools of financing of real investments

Concessions as an instrument of state-private partnership in investment sphere

Финансово-кредитный механизм привлечения иностранных, отечественных инвестиций через концессии базируется на общих принципах инвестиционной политики государства, которая представляет собой комплекс мероприятий по обеспечению эффективного использования государственной и муниципальной собственности в рамках экономической системы. Главное содержание данного блока материализуется в обеспечении проведения соответствующей инвестиционной политики государства на условиях государственно-частного партнерства. В работе рассмотрены типы и сферы применения концессионных договоров, определены бюджетные последствия при использовании концессионных механизмов в экономической системе, обозначены отличия разных моделей концессии в рамках государственно-частного партнерства с выделением отраслевой принадлежности, разделением рисков, участия государства.Financial-credit mechanism of attraction of foreign and domestic investments through concessions is based on general principles of state investment policy which is understood as a complex of measures of state and municipal property efficient use within the economic system frames. The main idea here is to create corresponding investment policy under the conditions of state-private partnership. Types and spheres of concession agreements application are examined in the article; economic consequences of application of concession mechanisms for the budget are defined. The author also identifies differences between various models of concessions within the frames of state-private partnership highlighting industrial membership, risk division and distribution and state participation

Special economic zones as an effective form of investment attraction

В работе рассматриваются вопросы теории и практики привлечения инвестиций в российскую экономику через создание и функционирование особых экономических зон. Рассмотрены виды и особенности существования резидентов в особых экономических зонах. Представлены действующие особые экономические зоны в России. Определена их значимость в российской экономике. Выявлены преимущества этих зон в кластерном аспекте как новых инвестиционных возможностей в перспективном развитии диверсифицированной экономике.Theoretical and practical issues of investment attraction to the Russian economy by means of creation special economic zones are examined in the article. The types of these zones are analyzed along with the peculiarities of residents' lives in such zones. Special economic zones currently in operation in the Russian federation are enumerated. Their importance for the Russian economy is defined. Advantages of such zones in cluster aspect as a kind of new investment opportunities in the perspective development of a diversified economic system are revealed

Segment characteristics of contemporary models of investment markets

В статье рассматриваются вопросы сегментации и структурирования современных моделей инвестиционных рынков. Определяются значимость и особенности функционирования отдельных инвесторов каждого инвестиционного полюса. Представлена сравнительная характеристика основных направлений значимых сегментов международного финансового рынка. В систематизированном виде представлены частные и институциональные инвесторы в контексте доминирующих тенденций на мировом инвестиционном рынке.Issues of segmentation and structuring of modern models of investment markets are dealt with in the article. Importance and peculiarities of functioning of certain investors of each investment pole are defined. Comparative characteristic of basic directions of important segments of international financial market are provided. Private and institutional investors are presented in a schematized form in the framework of dominating trends at the world investment market

Financial mechanism for investing in the projects of transport infrastructure development of russian regions

Objectives: This article is devoted to the actual problem of the economy of any state - finding effective formats of financing investment projects of transport infrastructure development, having significant differences in many countries. The publicprivate partnership is the most common worldwide financial mechanism to attract investment in the infrastructure projects. Methods: The authors have attempted to substantiate the main results of the research using econometric tools, along with the traditional methods of analysis - statistical monitoring, graphical method, the method of observation, measurement and analysis. Findings: Based on the identified needs in the construction of transport routes in Russia compared with Western countries, the authors have determined the volume of investments in this sector. Then, the mathematical model of making investment decisions on the basis of econometric equilibrium strategies of participants has been offered. The analysis of the various possibilities of strategic cooperation between the participants of investment projects on the basis of game theory (in particular, the Nash equilibrium and Cournot duopoly) allowed the authors to suggest a function of weighted average cost of project capital (WACPC), designed to improve the effectiveness of using financial resources involved in the infrastructure projects. Improvements: One of the practical implications of this study lies in the fact that based on the game theory it is possible to create a universal financial mechanism, which would enable to diversify investment sources and reduce the risks of infrastructure projects at all stages of their implementation. Following the principles of Nash equilibrium strategy is able to eliminate the corruption schemes in the allocation of contracts with state authorities and general contractors for transport infrastructure construction and upgrading

Classification of networks in higher education: A marketing analysis of the club of ten (Russia)

Introduction: the networking as a development practice in business has not yet become widespread. Moreover, there are very few studies of network interactions in the field of science and education. Advances in marketing evaluation of network entities are very rare. The goal of this article is to develop methodological criteria for such an assessment. These methods were tested on findings from the network partnership established by federal universities in Russia. Materials and Methods: to study and generalise real-world experience, a case study method was used, which the authors understand as an empirical research method aimed at studying phenomena in real time and in the context of real life. Results: the authors proposed a comprehensive methodology for estimation of networks. The application of this method of analysis enabled identification of the key problems and barriers to the implementation of the project. One of the main problems is the lack of marketing analysis, lack of understanding of its target audience, and, accordingly, the lack of a transparent vision of development. Besides, the authors have developed a classification of network partnerships. ?he analysis empowers classification of the network of Russian universities as an inter-organisational polycentric partnership of a quasi-integration type, based on a neoclassical contract with relational elements. The analysis of the network development has revealed significant deviations of the results from the initially claimed ones. Discussion and Conclusions: the theoretical significance of the work consists in the application of the network theory to an atypical object for the economic theory, i.e. the analysis of the sphere of higher education. Practical significance lies in the possibility of application of results obtained through real projects in real-time mode. The results of the study are applicable to educational systems for practically all countries with a transition type of economic and educational systems. © 2018 National Research Ogarev Mordovia State University. All rights reserved.This project was carried out by a group of developers from Kazan National Research Technical University named after A. N. Tupolev-KAI with the support of the European Commission through the European academic programme TEMPUS, the project MetaMath implemented in 2013-2017 (Grant Agreement No. 543851-TEMPUS-1-2013-1-DE-TEMPUS-JPCR)

Russian investment politics: mechanism of state regulation and regional specifics

В настоящее время большое внимание уделяется вопросам инвестиционной политики как на макро-, так и на микроуровне. Государственная инвестиционная политика предусматривает создание реальной возможности и условий для инвестирования, активное участие государства на инвестиционном рынке стимулирует его развитие. Государство существенным образом влияет на инвестиционную активность в обществе, таким образом, возникает необходимость в целенаправленном создании адекватных инструментов инвестиционной политики для формирования благоприятного инвестиционного климата в условиях динамичной экономической среды.At present much attention is paid to the issues of investment policy both at macro- and micro-levels. State investment policy provides for the creation of real opportunities and conditions for investment; active participation of the state at the investment market stimulates its development. The state sufficiently influences on the investment activity in the society; thus, the need of a purposeful creation of adequate investment policy tools to form favourable investment climate in the conditions of a dynamic economic environment