Современные тенденции реструктуризации отечественных компаний
Modern tendencies of the home and world company restructuring practices are analyzed by the author who had top positions in some large companies and thus the experience of their restructuring. The recommendations on restructuring procedures are given here.
This paper discusses the current stage of economic development in Russia. In particular, the authors analyze the problems caused by both the inefficiencies accumulated during the previous years, and the deterioration of the external conditions in 2014. They also stress the factors that can support and prevent the restructuring of the Russian economy and its further growth. In conclusion they list a couple of economic policy scenario appropriate for new situation.
The aim of this paper is to conduct an empirical investigation and reveal what types of modernization strategies and characteristics of regional institutional environment are likely to be associated with different trajectories of firms’ performance in 2007-2012. Using hierarchical cluster analysis we revealed the typical trajectories of firms’ sales growth and found that the dynamic of sales for more than 90% of firms can be described by just two types of performance curve: (a) crisis decline-recovery and the stable growth and (b) crisis decline with weak recovery and stagnation. We test three hypotheses that (1) companies that invested a lot in modernization and restructuring of business before the crisis were more likely to successfully overcome the crisis shock, and (2) that location of firms in the regions with better institutional environment could also matter for the likelihood of successful recovery, and (3) firms with foreign ownership are more likely to overcome quickly and successfully crisis shocks and continue growth in post-crisis period. We found the firms that invested more prior to the crisis are more likely to have positive post-crisis dynamics of sales. Active restructuring accompanied by the rise of the number of employees in pre-crisis period was also a significant factor associated with propensity to be a member of successful cluster. We proved an evidence that firms in the regions with less level of corruption (both administrative and everyday) were more likely to successfully overcome the crisis shock. Contrary to the studies in other countries we found no evidence of significant positive role of foreign ownership.
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.