Актуальные проблемы дивидендной политики в России
In order to successfully attract financial resources, the issuers should pay special attention to the competent building of private financial policy, including to the dividend payout strategy. Because Russian companies have not had a rich experience of its developing to date, this process cannot always be called effective. From this point of view, understanding of actual problems of dividend policy, applied by Russian companies, will contribute to their competent decision within a specific enterprise, improving its investment attractiveness and position in the financial market. In this article the authors summarize common problems in this area and discuss possible solutions.
The author regards the main principles of an overall method of assessing the investment attractiveness of IT-projects and underlines the diffusion of service-oriented architecture (SOA) at the moment. Among modern works taking SOA into consideration in the framework of the methodology of assessing information systems (IS) economic efficiency, he detaches the approach based on event-driven process chain (EPC) extension.
We use a Markov chains models for the analysis of Russian stock market. First problem studied in the paper is the multiperiod portfolio optimization. We show that known approaches applied for the Russian stock market produce the phenomena of non stability and propose a new methods in order to smooth it. The second problem addressed in the paper is a structural changes on the Russian stock market after the financial crisis of 2008.We propose a hidden Markov chains model to analyse a structural changes and apply it for the Russian stock market.
This paper analyzes a stylized model of an export-oriented economy. It investigates the impact of macroeconomic policies on the dynamics of the exchange rate, inflation, output and stabilization fund and consider different forms of strategic interaction between the government and the central bank. It is shown that the effective interaction of fiscal and monetary policies is possible under Stackelberg interaction with the government as leader and under cooperation.
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.