Определение надзорными органами финансовой устойчивости негосударственных пенсионных фондов, основанное на оценке риска
The paper presents an analysis of the G20 summit held under the French Presidency in Cannes on November 3rd and 4th 2011. The author assesses the summit agenda and decisions made by the leaders in the key areas of coordination, including the strategy for growth and jobs, reform of the international monetary system, actions to restore financial stability and strengthen the medium-term foundations for growth, deepening of financial sector reform, fight against corruption, investing for global growth. The paper highlights the challenge of implementing two agendas: the planned and the anti crisis one. The conclusion sums up the strengths and weaknesses of the summit and the G20 summitry, reviews the features of the G20 institutionalization, makes a forecast for the sequence of presidencies after 2015, and puts forward brief recommendations for the Russian G20 presidency in 2013. The publication is prepared within the framework of a joint project of Russian International Affairs Council (RIAC) Project and International Organizations Research Institute of the NRU HSE "Increasing Effectiveness of Russia's Participation in G8, G20 and BRICS in accordance with Russian Priorities and National Interests".
With a view to ensuring a follow up of the implementation of the Recommendation, the International Labour Office was instructed to assist constituents in developing national policies and setting up monitoring and implementing mechanisms, as well as to promote good practices at the national and international levels concerning the determination and use of employment relationships. In response to that decision, the International Labour Office, developed in 2007 an Annotated Guide to Recommendation No. 198 using the technical expertise of a group of experts from around the world which presented examples in law and practice on how the various aspects of the Recommendation were being dealt with in many countries in different regions. Over the recent years, there have been increasing developments at the European level regarding the employment relationship in legislation, case law, collective agreements and soft law. In this context, the ILO, and in particular the then Industrial and Employment Relations Department (DIALOGUE) undertook a strategic partnership with the European Labour Law Network (ELLN), a network of independent legal experts from all European Union Member States and European Economic Area countries, in order to produce an updated version of the 2007 annotated Guide with a specific focus on European countries. The European Labour Law Network was established in 2005 on initiative of Professors Guus Heerma van Voss (University of Leiden) and Bernd Waas (University of Frankfurt am Main), the latter being the editor of this Guide. The European Labour Law Network is comprised of non-governmental legal experts from all European Member States and the EEA countries. In December 2007, the European Labour Law Network signed a contract with the Directorate-General for Employment, Social Affairs and Inclusion of the European Commission in Brussels (formerly the Directorate-General for Employment, Social Affairs and Equal Opportunities) and, under the name ‘European Network of Legal Experts in the Field of Labour Law, dealing with both individual and collective rights/aspects’, became the European Commission’s official advisory board on issues relating to developments in individual and collective labour law. In this capacity, the Network has been conducting extensive research for the European Commission. Among other things, it produced a Thematic Report on the “Characteristics of the Employment Relationship” in 2009. This guide builds upon up-dated information analysed in that research project. (More information at: http://www.labourlawnetwork.eu). In summer 2013 International Labour Office approached Russian labour law scholars, - associate professors Elena Gerasimova (NRU HSE), Nikita Lyutov (MSAL, NRU HSE) and Daria Chernyaeva (NRU HSE), – with a suggestion to prepare a Russian translation of the Gude and to amend it with materials concerning the CIS countries.
Implementation of IT and program projects seems to be very complicated and taught process, associated with many uncertainties and risks. Sure, this does not mean the rejection of such projects, supposed the more responsibility for the decision making process of new information technologies implementation. To manage various problems which face project managers, it makes sense to use special risk management software. The functionality of modern risk management systems allows identifying risk occurrence, conducting scenario modeling, take the more appropriate managing decisions based on scenario analysis and mathematical calculations. All these functionality will support project manager to optimize his business activities in accordance to risk management practices and ensure better coordination and balance inside the project team. Currently there available a wide range of project management software, but it is reasonable to conduct some analysis in terms of applicability to specific IT projects. The author will review the most appropriate software solutions for the risk management in IT area, conduct competitive analysis and provide some recommendations on software selection.
The work contains diagnosing оf the problems in the Russian domestic savings; detailed analysis of 27 foreign pension systems in the world and instruments of development policy in collective investments in the United States, the European Union and the BRICS countries; quantitative study of factors affecting the level of development of pension funds and collective investments in 50 countries.
The article deals with longevity risk, which is faced by non-state pension funds, and possible methods of its management. Longevity risk arises from uncertainty in future mortality trends and is related with the guaranteed lifelong pension payments. The emphasis is put on the impact of this risk on solvency of non-state pension funds. Results of the estimation show, that the effect is quite significant and longevity risk has to be controlled. Two possible methods of risk management for longevity risk are discussed: special reserves and life expectancy forecasting.
Authorities of the state regulation, creditors and investors are interested in getting reliable information about the banking sector activities. The procedure of bank financial soundness and accountability evaluation is carried out by supervision authorities as well as by international and national rating agencies. The analysis of the methodologies of bank accountability evaluation and forecasting in Russia shows the following results. The Bank of Russia makes decisions on banks financial soundness based on financial coefficients of different groups; the calculations are grounded on the official bank statements. Apart from financial indicators, rating agencies evaluate qualitative parameters of the bank activities. The common problem of the bank financial accountability analysis in Russia is the lack of use of the forecasting methods predicting the financial statement of banks and the probability of default. As a result, the problem-free banks corresponding to the demands of the supervision authorities on standards were considered to be problematic during the crisis. The aim of this research is the dynamic analysis of the main indicators of the Russian banks activities at the different stages of the economic cycle in order to identify the indicators of the early bankruptcy prediction and the opportunity to forecast the changes in the bank financial statement.
The present article contains a description of new method of royalty calculation based on analysis of risk decrease generated by franchisor's intellectual assets transmitted to franchises.
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.
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.