The detection of corporate fraud in Russian firms
In this paper we analyze the impact of financial and non-financial performance of Russian companies on the likelihood of corporate fraud. By constructing a regression model it was proven that the main factor indicating the presence of fraud in the company is an increase of the relationship between Sales General and Administration costs and amount of sales. The results of the study can be used as a basis for development of a methodology to identify and prevent fraud.
The chapter focuses on the alternative measures of the relative competitiveness of Russian manufacturing enterprises and on assessing the changes in the distribution of manufacturing firms by those measures between 2005 and 2009.
Current Russian criminal legislation does not provide specifications of liability for illegal corporate hostile takeovers (corporate raid). It provides only for sanctions for the infringements, such as arbitrariness, fraud, organization of criminal groups, giving bribes, abuse of authority, blackmail, forgery, etc. The article analyzes illicit potential of raider attacks; the most typical methods of their commitment are discussed, namely corporate blackmail, corporate hostile takeover in the course of bankruptcy, and strongarm takeover. The author underscores the negative impact of corporate raid on a countrys investment climate. Attention is paid to such a peculiarity of the national mentality, as the perception by managers of the organizations property complex as their own belonging, which stimulates hostile takeovers.
In this article we provide the results of a study on measures to prevent fraud in different countries. The article shows that the level of fraud in Russia is quite high. This is due to the low culture of doing business and the high bureaucratization of government authorities. Creating transparent schemes of interaction will help reduce the number of fraudulent schemes and build society. The article presents an algorithm for creating a non-fraudulent society using the theory of change.
The task of improving the quality of forecasting returns of financial instruments using multivariate mathematical models: regression models and neural networks was analyzed. To construct a multifactor model of returns used the assumption on the influence of market factors that have a different nature. A linear multivariable regression model was constructed using stepwise inclusion algorithm. The multilayer neural network trained using back-propagation algorithm. The quality of the neural prediction models forecast much higher quality, built with the help of a regression model.
This article presents the history of (the development of) the definition of fraud since times of «Russian Pravda» to the Criminal Code in 1903. The term «fraud» before appearing in the form in which it exists now in the Criminal Code took the difficult path of the composition formation and characteristic features. It is necessary that at that level of historical development criminal law has been adequately established criminological and economic situations and has good preconditions for further development and improvement, including through a more precise definition of legal concepts.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.