New Energy Sources, Technologies, and Systems: The Priority of Social, Climate, and Environmental Issues
The introductory article to the special issue “The Future of Energy” is devoted to promising areas of development of the global energy complex, the assessment of their contribution to overcoming global challenges, and ensuring sustainable development. The trends under consideration differ significantly in the rate of evolution. Prospective development trajectories present both opportunities and risks specific to the fuel and energy complex of a particular country. Success in using emerging advantages and leveling threats depends upon a combination of internal and external factors, including the choice of public policy measures and the effectiveness of their implementation.
Studies rarely focus on the double interplay between the innovation potential of a company, its business model and the structure of the market faced by the company. This interplay is especially important to Russian companies working in various industries of the energy sector. Multiple initiatives launched by the Russian authorities have been intended to foster innovation in technological sectors of the Russian economy. These initiatives are often based on one or another preconceived notion of a fundamental structural framework expected to produce the best result. Focus on mergers and acquisitions is a major part of this framework in both public and private organizations. This chapter shows that mergers and acquisitions per se have little influence on innovation potential of the resulting organization. Vice versa, a proper strategy based on the clear-cut competitive advantage and the specialization corresponding to this advantage is more productive way to foster innovation in an energy company. Such a specialization can be later followed by a series of mergers and acquisition. But if this initial step has been ignored or neglected, the subsequent mergers cannot start corporate innovation. This thesis is illustrated with three cases (Eurasia Drilling Company or EDC, TGT and Rosgeologiya) described below.
The comparative analysis presents the first comparative study of the government procurement of French and Russian petroleum products with an in-depth review of foreign legal sources and national policy instruments. Based on the findings, this research led to the conclusion that public procurement of hydrocarbons is an extremely sensitive matter in the geopolitical, political and institutional sense. Despite some similarities in the general concept of French and Russian legislation in public procurement, the analysis revealed a substantial difference in the implementation of public procurement policies. Russia is characterized by a predominance of electronic auctions where the evaluation is based solely on the price whereas France uses a wide variety of different criteria to evaluate procurement offers.
The post-Cold War Arctic has seen a transformation from military tension and a focus on national security to a concern for environmental and human security. As a result of this, the globalized Arctic has a high level of peace and stability, maintained by international cooperation between the Arctic states, northern indigenous peoples, sub-national governments and local actors. There has also been a shift from environmental protection to economic activities and, consequently, states easily trump other interests. Now, in the Arctic, these challenges require fresh thinking on a local and global scale. Regional wars, the 'war on terror', and economic crises have posed new threats to Northern security order.
Importance and Methods Article is devoted to revealing the author's approach and methodological tools to measure sustainable development of industrial enterprises. Proposed combination of static and dynamic approach significantly expands the possibilities of methodical evaluation, allowing more deep justification of the pattern of management solutions on sustainable development of industrial enterprise.
Results The article presents the results of testing the author's methodological tools on the example of three industrial enterprises of Perm. The authors calculated the individual indicators of sustainable development at the economic, environmental and social spheres, and then defined their static reference values, and then, in dynamics, calculated the rate of change and built dynamic standards with their use. Then the calculation was made on group static and dynamic indicators for each area and integrated static and dynamic indices. Combining static and dynamic evaluations allowed displaying the pattern of each company’s position in the matrix of complex evaluation of the level of sustainable development of industrial enterprise.
Conclusions The research has shown that the positions of the analyzed companies are concentrated in the quadrant of the matrix, which is characterized by a balanced tempo characteristics in dynamics, it also revealed discrepancies between the actual values of indicators and their normative (or recommended) values in static. To overcome the situation, management decisions need to be made to improve the indicator values, to bring them to the normative level, while maintaining balanced tempo characteristics of the indicators over time. Each of the investigated companies has been proposed a number of practical recommendations, briefly reflected in the present article.
Nowadays, one of the most imminent problems facing power systems in post-industrial countries is the sustainable development of power systems under conditions of increasing power consumption irregularity due to the reduction of the industry’s share in consumers’ demand for electric power. In today’s Russia, this issue is becoming very acute due to the significant share of electric power and heat co-generation that is demonstrating low manoeuvrability and poor adaptation to operations in the daily variation of electric power demand. This paper considers the problem of improving the power system steady-state through the optimization of the production structure of thermal power plants. We propose a combinatorial algorithm that improves the planning of the structural and technological modernization of the power equipment configuration, with a glance at the forecast of the increasing irregularity of power consumption.
The Working Paper examines the peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank owners, investors, top managers and other insiders. The Anglo-American concept of corporate governance, based on agency theory and implying outside investors’ control over banks through stock market, is found to bear limited relevance. We suggest some ways of overcoming the gap between formal institutions of governance and the real life.
We address the external effects on public sector efficiency measures acquired using Data Envelopment Analysis. We use the health care system in Russian regions in 2011 to evaluate modern approaches to accounting for external effects. We propose a promising method of correcting DEA efficiency measures. Despite the multiple advantages DEA offers, the usage of this approach carries with it a number of methodological difficulties. Accounting for multiple factors of efficiency calls for more complex methods, among which the most promising are DMU clustering and calculating local production possibility frontiers. Using regression models for estimate correction requires further study due to possible systematic errors during estimation. A mixture of data correction and DMU clustering together with multi-stage DEA seems most promising at the moment. Analyzing several stages of transforming society’s resources into social welfare will allow for picking out the weak points in a state agency’s work.
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.