Финансы и управление最新文献

{"title":"Identification of priority mechanisms for tax regulation of individual entrepreneurs by the method of laboratory experiment","authors":"A. Tikhonova","doi":"10.25136/2409-7802.2023.2.43692","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.2.43692","url":null,"abstract":"\u0000 One of the national goals of Russia, the implementation of which is scheduled for 2030, is to reduce the level of poverty by half - to 6.6% of the population, or by 9.5 million people. A significant source of poverty reduction is the development of individual entrepreneurial initiatives and the promotion of self-employment. This circumstance determined the purpose of this study - to identify the importance of individual fiscal factors in starting one's own business and developing entrepreneurship. As a methodological basis of the article, a laboratory experiment was used, conducted in a student environment and additionally tested on existing entrepreneurs and self-employed. The paper describes the results of a laboratory experiment, which is aimed at determining the priority mechanisms for tax regulation of individual entrepreneurs. The scientific novelty of the research is presented in two directions. 1. Improved methodological approach to the implementation of laboratory experiments in the tax area. In particular, the objectivity of the results obtained from the data of the student sample is substantiated. 2. Priority areas of tax incentives for entrepreneurial initiatives have been identified. The Government of the Russian Federation, the Ministry of Finance and the Federal Tax Service of the Russian Federation, the Ministry of Economic Development of the Russian Federation, other interested bodies of state power and administration can use the results of the study in determining ways to develop the tax policy of the Russian Federation in terms of improving the taxation of individual entrepreneurship.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123972537","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Prospects of cooperation of the Russian Federation with friendly countries in the framework of investment activities.","authors":"Kirill Vladimirovich Korotin","doi":"10.25136/2409-7802.2023.2.40856","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.2.40856","url":null,"abstract":"The object of the study is investment activity in the Russian Federation. The subject of the study is the implementation of investment activities in relation to friendly foreign states. The purpose of the work is to assess the possible prospects and risks of the orientation of the economy of the Russian Federation on cooperation with friendly countries in the field of investment. Tasks of the work: • To assess the regulatory framework for the orientation of the economy of the Russian Federation to friendly countries; • Analyze economic indicators in relation to friendly countries; • To assess the prospects for cooperation with unfriendly countries in the medium term. The main method of research is analysis. The author analyzes the regulatory framework in the sphere of orientation of the economy of the Russian Federation to strengthen partnership with friendly countries, provides analysis of various indicators of friendly countries and companies belonging to the jurisdiction of friendly countries. Based on the analysis, the author identifies the problem points, relying on the methods of logic. Today, the economy of the Russian Federation is reorienting towards building relations with friendly states. Such a decision is an atypical measure of economic regulation, and there are a small number of examples of similar examples of actions by state bodies. The decision causes an active discussion in the Russian society, which confirms the relevance of this study. The key problem points directly related to the restriction of access to investments in companies of unfriendly foreign states and current investment opportunities in companies of friendly states are identified. The author puts forward several recommendations that can reduce the level of uncertainty in the financial market and reduce risks in the field of investments.","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"26 2 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123377300","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The relationship between the level of expected volatility and multipliers in the US stock market","authors":"Stella Grishaevna Manukian, A. Kurbatskiĭ, O. Malyutina","doi":"10.25136/2409-7802.2023.2.40510","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.2.40510","url":null,"abstract":"\u0000 The subject of the research of this article is to identify the relationship between financial multipliers and the expected volatility (implied volatility) of shares of companies in the software sector of the United States. The purpose of the work is to investigate and characterize the effects of expected volatility on the undervaluation or overvaluation of company shares. The object of this study are 38 largest companies in the software sector with a capitalization of more than $ 5 billion. Special attention is paid to the nonparametric Tail model, which allows us to identify and confirm the existence of a relationship between the level of expected volatility and the logarithm of the growth rate of the financial multiplier.   The very novelty of the proposed article lies, firstly, in the fact that the analysis was carried out in the coronavirus era, which is timely and interesting, since the Covid-19 pandemic had a serious impact not only on the lives and health of citizens, but also on financial markets. Secondly, interest in this topic cannot weaken due to the constant development and modification of financial markets, which forces investors to develop new and new approaches to evaluating companies for profit. Identifying undervalued companies in the financial market is one of the key goals of analysts and investors, since timely finding companies whose fair value is currently undervalued can bring significantly more income than investing in companies whose stock value is fairly valued. The results achieved within the framework of the conducted research are of practical significance, since they allow us to rank the identified companies with the same level of undervaluation by the value of expected volatility and, thereby, choose the most attractive for investments.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"255 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133686738","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Using additive regression models for short-term forecasting of financial macro-indicators and assessing the potential for financing megaprojects","authors":"N. Kuznetsov","doi":"10.25136/2409-7802.2023.2.43657","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.2.43657","url":null,"abstract":"\u0000 The subject of this article is the issue of using additive regression models to predict financial indicators at the macro level. At the same time, special attention is paid to the impact of the economy monetization on the possibility of attracting funding for global development projects (megaprojects). It is shown that the main drawback of the most common forecasting models today is their situation-dependent nature. This, in turn, creates difficulties with the initial setup of the models and the subsequent interpretation of the results obtained, limiting the scope of the models, making the use of this toolkit difficult for financial professionals who do not have special mathematical training. With the help of modeling, forecast values of the gross domestic product (GDP) and money supply (M2) for the short-term time obtained, on the basis of which the expected value of the level of the economy monetization was calculated. Based on a predictive assessment of the level of monetization, it is shown that at the moment the country has a limited potential for increasing domestic debt, which, in the conditions of closing access to international capital markets and partial blocking of state reserves, can become a factor in disrupting the financing of megaprojects for the economy structural modernization. Directions for improving the monetary policy aimed at correcting this situation and increasing domestic investment activity are proposed.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132189926","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The Role of the far Eastern Macroregion of Russia in Keeping the Economic Potential with the Countries of the Asian Region","authors":"N. Stepanov","doi":"10.25136/2409-7802.2023.1.39628","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.1.39628","url":null,"abstract":"\u0000 The Russian Federation in the current conditions is intensively developing foreign economic relations with many countries of the Asian continent, and the Far Eastern macroregion is entrusted with solving a number of tasks that contribute to ensuring the spatial development of the country. For the further development of relations, it is necessary to take into account the current trends in the development of countries, including their new integration formats of interaction on the Asian continent. The subject of the study is to determine the main trends in Russia's international interaction with the countries of the Asian region in the context of global political events. The purpose of the study is to analyze the problems of the socio-economic development of the Far East, which acts as a key component in the development of interaction with Asian countries, and to find ways to solve them. The methodological basis of the study is the following methods of scientific knowledge: comparative and contrastive analysis, the method of analogies and the hypothetical-deductive method. The scientific novelty of the article includes the author's conclusions about the main problems that significantly reduce the effectiveness and limit the potential of the mechanism of international cooperation under consideration. The results of the study can be used by the authorities for foreign economic activity in the context of the development of the Far Eastern macroregion.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126381719","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Research of Manipulation of Stock Assets on the Example of Shares of American High-Tech Companies of the Nasdaq Stock Exchange","authors":"Evgenii V. Dorokhov","doi":"10.25136/2409-7802.2023.1.37548","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.1.37548","url":null,"abstract":"\u0000 The subject of the study is the processes of manipulation of stock asset prices on the example of shares of American high-tech companies of the NASDAQ exchange. The concept of manipulation of stock assets is formulated and the signs of manipulation of them are presented. The main purpose of the work is to identify signs of manipulation of the stock prices of Facebook, Nasdaq and Google companies from the moment of the initial public offering of the company's shares on the stock exchange (IPO) to the present. The methodology of the study includes statistical methods of data analysis: comparative analysis, correlation and regression analysis. Based on the annual quotes and financial reports of Facebook, Google and Nasdaq, a comparative and correlation analysis of the annual values of investment multipliers is carried out. Particular attention is paid to the comparative and statistical analysis of the data of these companies at the initial time stage after their IPO on the NASDAQ exchange. The result of the analysis showed a fairly strong correlation between them on this indicator. At the same time, a significant overvaluation of Facebook shares was established in the first years after its initial public offering on the stock exchange, in relation to the analog companies of Google and Nasdaq, as well as to the companies listed on the S&P500 stock market of the USA. The scientific novelty of the study lies in the fact that the presented methodology allows identifying signs of manipulation with the share prices of companies-analogues of any sufficiently liquid stock market. The topic of the article is of interest to stock market participants, stock analysts, potential investors and purchasers of companies, as well as to stock market regulators dealing with the reliability and security of its processes.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"112 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124747821","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The potential of business intelligence for the development of analysis of financial and non-financial information in the economic activities of companies.","authors":"S. Mitrovic","doi":"10.25136/2409-7802.2023.1.40099","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.1.40099","url":null,"abstract":"\u0000 The subject of the study is the information and analytical support of the economic activities of companies based on the introduction of business intelligence. The object of scientific research is the systems of business intelligence in economic analysis.The purpose of the study is to scientifically substantiate the theoretical and methodological issues of the introduction of business intelligence for the development of the analysis of financial and non-financial information in the economic activities of companies. The research methodology is based on the analysis, grouping of data and generalization. Conclusions and scientific novelty. The scientific novelty of the research lies in the development of issues and principles of the application of modern information technologies of business intelligence for the purpose of further development of the possibilities of economic analysis of the economic activities of companies.The authors determined that a theoretically sound methodology for the introduction of business intelligence allows expanding the possibilities of information and analytical support for economic analysis, provided that: 1) \"is based on the basic provisions of the theory of economic analysis, accounting and auditing; information theory, as well as on the requirements of current domestic and international standards, recommendations of research and professional organizations and regulatory committees in the field of development of reporting and economic analysis, information law, state regulation and principles of information and economic security\" [1]; 2) reflects the basic principles of the method of economic analysis: the unity of analysis and synthesis, the study of economic phenomena in their interrelation, as well as in development and dynamics; 3) specifies the general methodology of economic analysis – methods of information processing, working stages and sequence of analysis;4) is based on analysis and application advanced practical and theoretical experience in the field of implementation of information solutions in the economic analysis of economic activity of companies.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"378 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126721438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dominant trends in the development of social infrastructure in rural areas of the Republic of Mordovia","authors":"Svetlana Gennadievna Ryabova","doi":"10.25136/2409-7802.2023.1.35936","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.1.35936","url":null,"abstract":"\u0000 The subject of the study is the dominant trends in the development of the social infrastructure of rural areas of the Republic of Mordovia. The author focuses on the fact that underestimation of the role of social infrastructure and a rather long period of its financing on a residual basis led to an increase in territorial imbalances in its development. Most of the social infrastructure facilities are concentrated in cities and district centers, and rural settlements are still significantly inferior to them in the level of infrastructure provision. The problems of physical deterioration of social infrastructure facilities, as well as the low level of their transport accessibility for the population living far from district centers remain relevant. The unevenness of social living conditions in rural settlements with different populations persists in almost all municipal districts of the republic. A detailed analysis of the structural elements of the social infrastructure of rural areas of the Republic of Mordovia indicates that the preservation of bipolar conditions of territorial development remains the dominant trend. The scientific novelty of this study is to identify territorial imbalances in the level of development of the social infrastructure of rural areas and to develop practical recommendations aimed at reducing them and increasing the infrastructural potential. According to the author, this will largely be facilitated by construction, bringing infrastructure facilities in line with modern requirements, ensuring balanced development of social infrastructure systems, etc. Special attention should be paid to improving the regulatory framework for the development of rural social infrastructure, creating conditions for attracting investment in the social sphere of the village.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"340 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115886902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Risk Management in Lending based on Assets of Small and Medium Enterprises","authors":"Anastasiya Guseva, P. V. Zhesterov, P. O. Milov, Yuliya Vladimirovna Pindyurina","doi":"10.25136/2409-7802.2023.1.39829","DOIUrl":"https://doi.org/10.25136/2409-7802.2023.1.39829","url":null,"abstract":"\u0000 Bank lending to small and medium-sized enterprises is an established and integral element of Russia's market economy. Over the past three years there has been a positive trend in the development of bank corporate lending, including the introduction into national practice of a new form of asset-based lending (ABL). Scientific works of Russian and foreign economists and lawyers were used as materials for the study. The study was based on the statistical database of the Central Bank of the Russian Federation and the statistics of the national project «Small and Medium Entrepreneurship and Support of Individual Entrepreneurial Initiative». We used general methods of scientific knowledge: methods of empirical (comparison, observation) and theoretical (analysis, synthesis) research to study the main indicators of the lending (financing) market for small and medium enterprises (the dynamics of the volume of loans, the dynamics of the number of loans, the dynamics of the number of SMEs receiving credit, the dynamics of debt on loans granted to SMEs, including overdue). The applied research methods allowed us to analyze the SME lending market and identify the main factors affecting the SME lending market in Russia - high interest rates, as well as the growth of overdue loans. Share of overdue loans has averaged 10-15% in different reporting months over the past two years (the analyzed period from April 2019 to April 2021). This study examines current trends in lending to SMEs in Russia, especially the emergence of ABL, which have been underrepresented in recent literature. Recommendations are developed to increase the share of asset-based lending, as well as to increase its volume. The materials of the study can be useful to scholars dealing with this issue, government regulators, as well as commercial banks (including banks with state participation) and factoring finance companies.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"2005 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131326903","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Prospects for the Development of the Great Tumangan Initiative (GTI) in the New Geopolitical Reality","authors":"N. Stepanov","doi":"10.25136/2409-7802.2022.4.39018","DOIUrl":"https://doi.org/10.25136/2409-7802.2022.4.39018","url":null,"abstract":"\u0000 The subject of the study is the process of East Asian regionalism, considered in the context of the development of the Great Tumangan Initiative. The proposed goal is to characterize, analyze and evaluate the impact of the new geopolitical reality on the prospects for integration processes in Northeast Asia. The main research methods used in the study are a literature review on the topic and a descriptive method. As a result of the work, the following can be distinguished: analysis of geopolitical factors affecting the integration processes in Northeast Asia; the features of the development of the Great Tumangan Initiative are determined and the main problems limiting the effectiveness of this initiative are identified. The scientific novelty lies in the substantiation of the priority directions for the development of the untapped potential of the Great Tumangan Initiative: improvement of institutional support; the need to cooperate simultaneously at four levels: regional, local, multilateral and bilateral. It is concluded that the achievement of regional connectivity is the main priority in the development of regional cooperation and economic integration in Northeast Asia.\u0000","PeriodicalId":233653,"journal":{"name":"Финансы и управление","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116597586","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}