Планирование потребности в предметах снабжения на основе методов прогнозирования
For problems of a choice of the best decision at management of purchases by many criteria, the illustration of phenomena of inadequate optimization in a format of traditional methods is given. Necessity of working out of new approaches to optimization is underlined to give the chance to the manager to eliminate such phenomena.
The paper contains empirical estimates of how behavioral factor (an attitude towards risk), rationality and uncertainty influence on investment decisions (capital investment) of Russian companies. The research is guided by the models of Sandmo (1971), Bo and Sterken (2007). We have tested a hypothesis, that risk preferring companies tend to grow investment, while risk averse companies are more likely to decrease the number of investment projects under uncertainty. The following rational variables, explaining investment policy, are included into the model: sales growth, market power, return on equity, debt to equity ratio, current liquidity. Since the time span of the research includes both the crisis period (years 2008, 2009) and the period before the crisis (2004-2007) we have also estimated the time effect on the companies’ investments.
The following estimators have been used to get the results: ordinary least squares; fixed effects model; random effects model; panel data models with binary variables controlling time effects; Hausman-Teylor’s model, generalized method of moments.
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.