Lean against the wind: The moderation effect of foreign investments during the economic recession in Russia
Using a unique panel database of more than 1,000 Russian public companies covering the period from 2004 to 2014, this study uses quantile regression techniques to investigate the moderating effects of foreign partners on company performance during the economic recession. The empirical findings are robust and confirm the positive impact of foreign ownership on limiting the negative effect of the recession on company performance. The strength of the impact depends on the level of firms’ financial results. The outcomes have implications for company investment policy. The evidence supports government policy towards encouraging foreign entry liberalization in emerging markets during periods of turbulence.
Everything connected with the issue of economic and social inequality is very urgent and rather debating in many countries. It has reached its bolding point. Why?
It is well known that there are many indicators that reflect the efficiency of company operation. One of them - Economic Value Added (EVA). From the formula of calculating EVA follows that result of this criterion influence by a number of factors. In order to get objective results when calculating EVA it is recommended to make revisions in the operational profit and capital employed. However the number of necessary revisions hasn’t been determined yet. In this article it is presented, as adjustment and the accounting of separate factors (account articles) can lead to essential changes of EVA.
Knowledge management is becoming the most relevant and challenging issue of company’s strategy implementation in the new economy. Intellectual capital identification and evaluation is one of the most important issues in knowledge management. Our study focuses on the evaluating intellectual capital methods that allow finding out the most efficient way of intellectual capital management, including investment decision making. We suppose that the potential effectiveness of intellectual capital resources varies depending on a company size, industry and country. Therefore, to solve problems of intellectual capital evaluation we integrate two approaches that are relevant for studying the companies’ and industries’ behavior.
Defining the strategic vision of the company, managers and owners almost always have a shortage of information about different investments potential effectiveness. At the first step the company should find a compromise between investments in traditional assets and intellectual capital accumulation. RAVE concept is mainly based on the premise that the intellectual capital outcomes, including its knowledge, the company marketing policy, purchasing and staff development, exceed the traditional assets outcomes. This article represents the critical analysis of the approach designed by BCG consultants and is devoted to the integrated economic value added - method development.
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.
портовый менеджмент, показатели деятельности, анализ эффективности, система учета, распределение издержек, методы анализа деятельности портовой системы
At present many industries reveal tendency for setting up of vertically integrated companies (VIC) the structure of which unites all technological processes. This tendency proved its efficiency in oil industry where coordination of all successive stages of technological process, namely, oil prospecting and production -oil transportation - oil processing - oil chemistry - oil products and oil chemicals marketing, is necessary. The article considers specific features of introduction of "personnel management" module at enterprises of oil and gas industry.
vertically integrated companies; personnel management