Trajectories of Russian manufacturing firms’ growth after the global financial crisis of 2008–2009: the role of restructuring efforts and regional institutional environment
The aim of this article is to conduct an empirical investigation and reveal which types of modernisation strategies and characteristics of regional institutional environment are likely to be associated with patterns of the performance of Russian manufacturing firms in 2007–2012. In addition to estimating the impact of ex-ante behaviour on the rate of sales growth, we use hierarchical cluster analysis to reveal the typical trajectories of firms’ sales growth. We find that the dynamic of sales for more than 90% of firms can be described by just two types of performance curve: (a) crisis decline with recovery and growth; and (b) crisis decline with weak recovery and stagnation. Firms that invested more prior to the crisis and implemented active restructuring were more likely to have positive post-crisis dynamics of sales. We find evidence that firms in the regions with lower levels of corruption (both administrative and everyday) were more likely to recover successfully after the crisis.
Regression, cluster and component analysis of economic globalization of several developed economies is conducted with the purpose to find out the level of international trade globalization. 4 clusters on the basis of trade balance in goods, trade balance in services, FDI are found out.
We present a complex analysis of business models for large, medium and small Russian commercial banks from 2006 to 2009. The Russian banks are grouped based on homogeneity criteria of their financial and operational outcomes. The banks’ structure of assets and liabilities, profitability and liquidity ratio are taken into account. The results show how the banks are adjusted their business models before and after the financial turmoil taken place in 2008. In addition, the prevailing banking business models observed for the leading banks in Russia are defined. The banks often changing their business models are found and analyzed.
Data Correcting Algorithms in Combinatorial Optimization focuses on algorithmic applications of the well known polynomially solvable special cases of computationally intractable problems. The purpose of this text is to design practically efficient algorithms for solving wide classes of combinatorial optimization problems. Researches, students and engineers will benefit from new bounds and branching rules in development efficient branch-and-bound type computational algorithms. This book examines applications for solving the Traveling Salesman Problem and its variations, Maximum Weight Independent Set Problem, Different Classes of Allocation and Cluster Analysis as well as some classes of Scheduling Problems. Data Correcting Algorithms in Combinatorial Optimization introduces the data correcting approach to algorithms which provide an answer to the following questions: how to construct a bound to the original intractable problem and find which element of the corrected instance one should branch such that the total size of search tree will be minimized. The PC time needed for solving intractable problems will be adjusted with the requirements for solving real world problems.
For the development of technological innovations it is essential to ensure competent and modern commercialization within the framework of balanced business models. Multifactor cluster analysis of business models of contemporary high-technology companies and industries shows that the most effective commercialization emanate in the framework of four basic models. Company's profitability does not depend directly on the level of its technologies, but is determined by the quality of these business models. Besides trends in high-technology industries demonstrate raising segmentation and differentiation of markets and more frequent utilization of value network models.
The analysis of region differentiation of microentrepreneurship development and indexes of judicial statistics based on the current data of statistical recording are given in the article. The capabilities of cluster analysis for revelation of typological groups of the Russian region depending on the level of entrepreneurial activities and the results of law enforcement practice are represented.
This paper presents a pattern behavioral analysis of 100 largest Russian commercial banks by total assets during an eight- year period: from the first quarter of 1999 to the second quarter of 2007. Bank performance indicators are analyzed. Structural similarities in the development of the banks are examined. A cluster analysis is applied to determine banks with a similar structure of operations. This analysis allows to estimate how the structure of the Russian banking system has been changing over time. In particular, it allows to identify prevailing patterns in the behavior of Russian commercial banks and to analyze the stability of their position in a particular pattern.
How seriously does the degree of trust in basic social and political institutions for people from different countries depend on their individual characteristics? To answer this question, three types of models have been estimated using the data of the fifth wave of the World Value Survey: the first one based on the assumption about a generalized relationship for all countries, the second one taking into account heterogeneity of countries (using introduction of the country-level variables), the third type applying a preliminary subdivision of countries into five clusters. The obtained results have been used for suggestion of possible actions to increase public confidence in the basic institutions.
The book reflects the main trends in the innovative development of enterprises in the conditions of system transformation. We study the methodology of development of innovative component of enterprise management, study options of innovative development tools businesses
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.