Финансовое моделирование как инструмент консалтинга корпоративного бизнеса в банке
Финансовая аналитика: проблемы и решения. 2011. № 32. С. 10-20.
Мищенко А. В., Сабаткоев Т. Р. Экономический анализ: теория и практика. 2012. С. 10-15.
Current article contains the analysis of optimization tasks of investment recourses for project implementation of new routes for urban transport. It is assumed that a limited amount of funds used to purchase vehicles needed for new routes. To solve the problem we use economical and mathematical modeling.
Added: Jun 19, 2012
Гриднева Е. А. В кн.: Двухуровневая система образования и ее учебно-методическое обеспечение: материалы межвузовской научно-методической конференции. Н. Новгород: Национальный исследовательский университет Высшая школа экономики в Нижнем Новгороде, 2010. С. 32-34.
Added: Jul 23, 2012
Виртуальная сертификация радиоэлектронных средств по уровню помехоэмиссии как средство подготовки к лабораторным испытаниям по электромагнитной совместимости
Кечиев Л. Н., Лемешко Н. В. Труды Научно-исследовательского института радио. 2010. № 1. С. 57-70.
Added: Apr 16, 2012
Yakovlev A. A. WP BRP 55/LNG/2017. Высшая школа экономики, 2007. No. 14.
Relations between enterprises and authorities in Russian regions have attracted the attention of many researchers since the mid-1990s. At present, the issues raised by these relations are just as urgent as before because of two current trends. On one hand, growing pressure from the global market is an objective reason for the business community in Russia to seek government support. However, after the Yukos affair Russian business in general found itself subjugated to the federal authorities. For this reason, Russian companies may be expected to more closely cooperate with regional and local administration in pursuit of more favorable conditions for business. On the other hand, the Russian fiscal system was reformed and authority between the federal center and the Russian regions were redistributed so that the budgets of regional governments were reduced and their liabilities remained almost unchanged. Thus, regional authorities may in turn have incentives to change their policy posture towards the business community. In this paper we will use the results of a new empirical study of Russian joint stock companies to assess the extent to which these two trends affected the real mechanisms of interaction between businesses and the state on the regional level.
Added: Mar 14, 2013
Кофанов Ю. Н. М.: Энергоатомиздат, 2011.
Added: Apr 18, 2012
Митрофанов С. А., Митрофанов А. С. М.: РГУИТП, 2011.
Added: Apr 17, 2012
Гриднева Е. А. В кн.: Коммуникативистика ХХI века: перспективы развития социально-гуманитарного знания: материалы VI Всероссийской научно-практической конференции, 19 марта 2010 г.. Н. Новгород: Нижегородский филиал НИУ ВШЭ, 2010. С. 26-33.
Added: Jul 6, 2012
Каштанов В. А., Зайцева О. Б. В кн.: Фундаментальные проблемы системной безопасности. Вып. 3. М.: Вузовская книга, 2011. С. 150-157.
Added: Apr 12, 2012
Городнов А. Г., Альтшулер И. Г. СПб.: Питер, 2012.
Added: Jun 28, 2012
Shakina E. A., Molodchik M. HSE Working papers. WP BRP 24/FE/2013. National research university Higher School of Economics, 2013
This study investigates the factors that support or obstruct market value creation through intangible capital. We explore the impact of intangibles and exogenous shocks on corporate attractiveness for investors measured by Market Value Added (MVA). Specifically we analyze relationship between intangible-driven outperforming of companies, measured by Economic Value Added (EVA) and a number of intangible drivers on macro, meso and micro level. We suppose that the process of value creation is confined not only by companies’ performance. It is established in our study that investment attractiveness is affected by intangibles. Our empirical research is conducted on more than 900 companies from Europe and US during the period of 2005-2009. We found out in this study that a company’s experience, size and innovative focus facilitate value creation. An unexpected result was revealed concerning countries’ education level, which appears to be an obstructive condition for intangible-driven value creation. Our findings extend the understanding of the phenomenon of intangible capital and enable the improvement of investment decision-making.
Added: Jan 15, 2014
APPLICATION OF DATA ENVELOPMENT ANALYSIS IN MANAGEMENT RESEARCH (CASE OF RUSSIAN DOMESTIC ENERGY SECTOR)
Volkova I. Management. MAN. Высшая школа экономики, 2013
The idea that different firms can be classified into relatively homogeneous groups has been popular for many years, and many typologies have been developed and tested using a variety of classification tools. It has become apparent, however, that most clustering tools are somewhat limited, because they create groups of companies based on similar characteristics, without taking into account company performance. The objective of the current study was to address the limitations of previous research by creating a typology of companies based on financial efficiency, using data envelopment analysis as a clustering tool.
Added: Feb 18, 2014
Экономика и управление: проблемы и перспективы развития. Сборник научных статей по итогам международной научно-практической конференции г.Волгоград 15-16 ноября 2010 г.
Ч. 1. Волгоград: Волгоградское научное издательство, 2010.
Added: Jan 18, 2013
Anisimova A. I., Muradyan P. A., Vernikov A. V. SSRN Working Paper Series. Social Science Research Network, 2011. No. 1919817.
This empirical paper adds to competition and industrial organization literature by exploring the interplay between industry structure and competitiveness on local, rather than nation-wide, markets. We use micro-level statistical data for banks in two Russian regions (Bashkortostan and Tatarstan) to estimate Herfindahl-Hirschman index, Lerner index, and Panzar-Rosse model. We estimate Panzar-Rosse model in two ways: via the widely used price-equation that accounts for scale effects and then via a revenue-equation that disregards scale effects as suggested by Bikker et al. (2009). We find both regional markets to be ruled by monopolistic competition, although estimation by revenue-equation does not reject monopoly hypothesis for Tatarstan. Existence of sizeable locally-owned and operated institutions does not necessarily lead to higher competitiveness of the given regional market, and the results from non-structural methods of estimation suggest that bank competition in Bashkortostan is stronger than in Tatarstan. Going further away from aggregated analysis we compute Lerner indices in two product segments of Tatarstan – retail and corporate loans – and find that retail segment is significantly more competitive. Local banks exert more market power in corporate loans, while federal branches – in retail loans.
Added: May 14, 2012
Added: Feb 22, 2013
Трунин П. В., Дробышевский С. М., Евдокимова Т. В. М.: Издательский дом «Дело» РАНХиГС, 2012.
Added: Mar 26, 2013
Яковлев А. А. Общественные науки и современность. 2008. № 4. С. 21-37.
Added: Sep 22, 2012
Penikas H. I. Financial Economics. FE. Высшая школа экономики, 2012. No. 03.
The Basel Committee of Banking Supervision initiated a discussion on the most efficient practices to prevent bank managers from excessive risk-taking. This paper proposes a game-theoretical approach, describing the decision-making process by a bank manager who chooses his own level of risk and effort. If the level of risk implies the variability of the future outcome, the amount of effort applied affects the probability of a positive outcome. Although effort is unobserved for the bank’s stakeholders, the risk level is under control, and is associated with certain indicators such as capital adequacy ratio or leverage level. The risk-neutral utility function of a bank manager and a binary game outcome of gaining profit or loss for a bank are assumed. Starting from the general incentive contract scheme having the fixed and variable parts of remuneration, it is proposed that differentiating the variable part of remuneration is sufficient to motivate bank managers to make fewer risky decisions. More precisely, the variable part of remuneration (e.g. the share of the bank’s profit) needs to be higher in proportion to the higher variance of outcome for the high -risk outcome case to stimulate a bank manager to opt for lower-risk decisions in place of higher-risk situations.
Added: May 3, 2012
Уринсон Я. М. Вестник Европы. 2014. № 38-39.
Added: Feb 5, 2018
Penikas H. I., Titova Y. Financial Economics. FE. Высшая школа экономики, 2012. No. 02.
In this paper we elaborate a simple model that allows for the predicting of possible reactions from financial institutions to more stringent regulatory measures introduced by the Basel Committee on Banking Supervision (BCBS) in regard to global systemically important banks (G-SIBs). The context is framed by a 2011 BCBS document that proposes higher capital requirements for global systemically important banks. We attempt to analyze bank interactions in an oligopolistic market that is subject to demand constraints on loan amounts and additional loss absorbency requirements introduced by the regulator. We distinguish between the bank’s announced funding cost that determines both the loan amount issued and the market interest rate, and the bank’s true funding cost that has a direct impact on retained earnings. We conclude that in a two-stage game both banks will announce the highest funding cost, thus reducing the amount of loans granted (in line with the regulator’s objective), but at the expense of a higher cost of borrowing established in the market. If the game is repeated, then both banks also choose lower loan amounts in the periods prior to the last one in which the declared funding cost is the lowest possible. It should be noted that the designated outcome also coincides with the findings of the Monetary Economic Department of the Basel Committee on Banking Supervision.
Added: May 3, 2012
Карпов А. В., Вольский В. И. Полития: Анализ. Хроника. Прогноз. 2011. № 2. С. 162-174.
Added: Jun 24, 2011