Effect of license holder’s cost-flow on long-term development of oil industry

© MCSER-Mediterranean Center of Social and Educational Research. The paper considers issues of the effect of the license holder’s costs-flow on the possibility of increased investments in the operating process at the expense of mineral resources tax variation. The account flow of subsoil users is the sum of expenses of operating (current) and investment activities. The movement of a cash flow as a difference between profitable and account parts, for the enterprises of oil production characterizes financial stability and profitability of the company. As showed the carried-out analysis if to consider an account stream of operating activities of the oil-extracting enterprises, it appears that it by 5,6 times exceeds expenses of an investment stream

Income distribution and market demand: The case of heterogeneous preferences

© 2014, Mediterranean Journal of Social Sciences. All right reserved. In this note, we obtain sufficient conditions under which changes in income inequality lead to an increase or decrease in the market demand elasticities in the case of heterogeneous preferences among the consumers. In this paper, we applied majorization theory to study dependence of market demand elasticity on the inequality in income distribution among the consumers. In this note, we extend the results obtained to the case where consumers’ preferences are heterogeneous and the condition on equality of individual demand functions does not necessarily hold. This case is more realistic because consumers’ preferences are affected by a variety of different factors

Assessment of risk management: Recommendations for Russian federation

Risk management and application of risk management technologies, development of a culture of risk management is one of the important aspects for ensuring sustainable development at the present stage. The topicality of the scientific article is the relative uncertainty of the development of market relations at the current stages of economic development, the factors that are crucial for the effectiveness of risk management when the state conducts a policy of risk management. When studying the effectiveness of risk management and the impact of various factorson it, econometric and economic-mathematical methods of research were applied, the realization of which is carried out using the software package for econometric research Gretl. The obtained results of the study make it possible to conclude that the following factors influence the effectiveness of risk management at the state level: the existence of effectiveISO on risk management and those in developmental stage, adopted as national ones; availability of other current documents on risk management at the national or regional level; training of risk management specialists in educational institutions; country participation in the ISO/TC 262 committee on risk management standards; country participation in the UN Working Party WP.6 on risk management standards in regulatory systems. The authors of the study based on the results obtained conclude that the grounds for reforming the system ofrisk management both at the state and business levels should have an integral character and imply the exchange of knowledge and experiences between different spheres of risk management

Transaction tax control algorithm between related persons

© Medwell Journals, 2015. Since 2012, a new type of inspection is introduced as the tool for transaction monitoring between related persons using the chapter v.l of the Russian Federation Tax Code, the check of tax calculation and payment completeness due to the settlement of transactions between related persons. These checks are referred to the competence of the central office of the Federal Tax Service of Russia but carried out at the tax authority location like during a desk tax audit. The classification of stages concerning the check of tax calculation and payment completeness is proposed and developed due to the settlement of transactions between related persons. It was found that during the transaction tax control analysis between related persons it is advisable to determine the following stages: preparatory stage; the stage of decision taking concerning an inspection; the stage of the audit performance; the stage of violations determination at the end of the inspection; the stage of resolution taking in respect of revealed violations. The algorithms of method implementation are also proposed (the method of comparable market prices, resale price method, expensive method, comparable profitability method, the method of profit distribution) according to which the fact of applied and market price compliance in the transactions between the related persons is justified and confirmed. After the analysis of methods used in the tax control of transactions between related parties, it is possible to structure the problems of each method application. It was determined that the main drawback in the Russian context is in the selection of comparable transactions in order to consider the analyzed transaction

Application of flow methods for material and financial resources management to forecast oil production in Russia

© 2014 Canadian Center of Science and Education. All rights reserved. The paper considers the impact of flow methods on long-term development of oil extracting industry, the impact being associated with mineral resources production tax variation. Six oil production scenarios for Russia have been considered, comparative analysis of these scenarios is presented. By the end of the calculation period, the scenario that provides for 5% decrease of tax burden closely approximates the scenario of oil production under effective taxation system In terms of budget receipts volumes. The scenario with mineral resources production tax rate increase is the worst in terms of oil industry growth leading to the industry collapse. According to this scenario, an operating company’s tax burden increases to 78%. So far, the world practice has not witnessed economic growth under conditions of taxes as high as this; furthermore, taxation history testifies that too high taxes have not been paid. In terms of oil industry growth, the scenario that provides for 5% decrease of tax burden is the most credible and promising, provided the released flows are invested in production. The same level of tax burden decrease (5%) is required to attain oil production levels in Russia in 2018-2020s according to the 2030 Development Strategy

Stages of biotechnology commercialization in the system of interaction between financial and innovative industrial structures

Stages of the commercialization of biotechnology in the system of financial cooperation and innovation and industrial structures is currently not sufficiently explored and require careful consideration. The international practice shows that currently the most efficient method of transition from research and development of biotechnologies to bringing them to the ultimate customer is mutually advantageous commercial interaction between all participants. This process is called commercialization of scientific research and development results. All its participants are economically motivated that is they are highly motivated to promptly attain commercial success resulting from use of new technologies. This interaction will allow Russia to compete in the global market and increase the prosperity of the country. However, at the present stage is a not established effective mechanism of cooperation and financial innovation and industrial structures. Stages of the commercialization of biotechnology are not consistent and not developed. Current projects on biotechnology commercialization require substantial financial investment and professional regulation of both the state and the private sector

Systematization of expert evaluations in terms of intellectual property commercialization

© Medwell Journals, 2015. An increasing significance, within the framework of sustained development of the Russian economy is taken on by innovative economy, since this is where occurs the transformation of scientific and technical products, based on the results of fundamental and applied research into market products with high consumer properties. The need to accelerate the commercialization of the most advanced innovations is caused by aggravation of competition in the world markets under rapid development of science and technology, accompanied by a huge number of new ideas, inventions and discoveries. It is imperative to choose the most preferred, in terms of maximizing the benefits, uses of intellectual property. In the context of this research, it is suggested reviewing the method of expert evaluations a questionnaire method of ranking for direction of the commercialization of intellectual property by way of the example of a patent for "Method of Core Examination via the Analysis of its Coloration" (hereinafter, the object of intellectual property). The ranking method is applied to organize the information according to a factor when it is not required or impossible its precision measurement. According to the results of the survey in terms of the group peer review, it has been defined the most preferred direction of the commercialization of intellectual property for the "Method of Core Examination via the Analysis of its Coloration". The proposed method is applicable in the areas where quantitative assessment of the object is impossible or extremely difficult

Enhancement of horizontal well oil recovery by means of chemical stimulation

© 2015, Asian Social Science. All rights reserved. Complex of self production technologies solves the problem of preservation, restoration and enhancement of natural collection characteristics of bottom hole formation zone and, moreover, enhancement of active draining field and level of hydrocarbon selection by oil wells of different construction in non-uniform porous fractured carbonate reservoirs. The scientific and methodological basis for complex of well stimulation technologies in carbonate reservoirs is the following principle – phased, consistent, rational inclusion in the development and exploitation of the entire producing formation thickness, and only thereafter – successive, phased realization of physical and chemical influence on the formation-reservoirs depth and extent. The article deals with the solution of up-to-date problems of restoration and enhancement of productivity of oil wells in Tatarstan carbonate reservoirs under conditions of import substitution of advanced technologies of the formation oil recovery enhancement. Stimulation issues on the entire chain of oil extraction technological process are regarded from the formation drilling-in until repair-isolation works. Reduction in oil recovery cost is taken into account by means of the effective application of complex technical solutions, operations matching in time and power inputs on production enhancement in wells from water-bearing horizon. Enhancement of technical and economic efficiency of one's own technologies of acid treatment of vertical and horizontal wells leads to enhancement of current and final coefficient of hydrocarbon resources extraction. Solution of the above stated tasks was performed on the basis of the suggested by the authors principally new, scientifically based, mastered in production and inculcated in industrial scales complex of our own technical and technological solutions providing achievement of considerable enhancement of the efficiency of hydrocarbon raw materials extraction in Tatarstan

Effect of crude quality on crude oil refining efficiency

The paper considers issues of crude quality effect on crude oil refining efficiency, continued growth of the share of hard-to-recover reserves in the reserves' structure. Official and judgment-based statistics data are presented. Development of petrochemical complex in the Republic of Tatarstan is discussed in some detail

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