Benefits of the retail payments card market: Evidence from Russian merchants
This article evaluates the benefits to merchants resulting from participation in the retail payments market. Using surveys to obtain a representative sample of 800 traditional (offline) Russian merchants, the article finds significant, robust evidence in favor of positive merchant's benefits. This study further separates the benefits into direct and opportunity: finding that the non-welfare improving regulatory initiatives might result from the failure to account for the opportunity benefits to merchants. This article also examines the factors affecting the level of merchants' benefits. Results show that factors affecting the value of benefits and the probability of accepting payment cards differ. Findings imply that unbalanced intervention may be detrimental to the agents' welfare, leading to a suggested mechanism for ex-ante evaluation of the effect of shocks and interventions.
This book is a comprehensive tutorial for labor motivation management. Сourse on motivation and remuneration is mandatory Human Resource Management bachelor and master programs. Motivation and remuneration is also a part of human resources management course, which is a mandatory part for any managerial education program. This book is intended not only for students but also for a wide range of readers. It is written for practicing managers, management consultants, university and MBA programs professors. The main idea of this book is to connect a hands-on experience in implementing described models with a scientific base.
In the article key global trends and shifts of recent development in large value payment systems and retail payment systems since the middle of 1980-s are analyzed. The paper shows growth of hybrid payment systems, expansion of multicurrency payment systems, increase in electronic payments, and decline in the use of traditional payment instruments.
The chapter describes social security benefits paid to russian citizens having children; sources of them; categories of citizens having right to get benefits; sizes of benefits and other questions of appointment and payments of social benefita to citizens having children
Recent changes in world payment infrastructure affect the area of retail payments. This article considers frontiers and specific features of small money transfers, as well as major payment instruments and operational structures, which are functioning now in world developed countries. Special attention is paid to innovations in retail payments, their forms and scope of usage.
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.