Комплексный инвестиционный план как инструмент управления развитием моногорода
Hi-tech innovative alliances tend to have more key sustainable competitive advantages in comparison with those out of alliance, especially because alliances allow the companies to switch through the partners the financial burdens and intellectual investments in innovations. BRIC make an important input into Gross World Production and its hi-tech industries grow faster than others over developing countries. However companies of these industries still lack internal resources of innovative and technological facilities, e.g. Russian companies, because of that alliances (usually, international anв transnational) acquire more and more popularity. Alliances give the access towards resources and competences of the direct and indirect partners. The paper describes the empirical evidence of alliances efficiency factors and its influence on the high-tech companies of India and China. This evidence can be replicable to some extent and useful to the development of Russian companies. According to the testing results it is possible to assume, that efficiency of alliances has the significant impact on the corporate value in the mid-term. The crisis has significant impact on the observable dependencies.
The article is devoted to the analysis of the phenomenon of local self-governing, with a new institutional theory being the basis of the analysis. The article analyses the institutional costs of local authorities in small towns and regions when they perform their functions. These costs are, in most cases, unproductive, which make the work of the municipal governments worse. The author introduces a new term "unproductive institutional costs" and proposes their genetics classification.
The article is devoted to the trends and determinants of the transformation of Russian regions' industrial specialization during the period of economic growth. Using the methodology of statistic and econometric analysis it is tested whether the tendency of diversification dominates the tendency of regions’ industrial specialization in 1997-2004 and whether there is a convergence of Russian regions' industrial structures. The considered factors of industries' development in a particular location include the initial industrial structure, inter- and intraregional technologic links between industries, quality of investment climate, R&D potential, international competition.
The article examines the experience of China's investment policy aimed at creating favorable conditions to attract investment, particularly foreign direct investments, to the most important country's industries. In recent years, this policy (the establishment of free economic zones, trade liberalization, the establishment of an appropriate legislative framework, state support for investors) has brought noticeable positive results, but with the beginning of the global financial crisis allowed to avoid the most painful consequences. This experience taking into account all its particularities can be useful for our economy.
In July 2014 amendment to the Federal Law #131-FZ dated on October, 3, 2003 “On the general principles of the organization of the local self-government system in the Russian Federation” set out a typology of municipal formations for urban areas. For designing a new model two legal practices were used: the procedure of forming representative body of municipal district without municipal elections and the organization of LSG in federal cities. From 2003 till 2014 only two cities in RF had internal city entities with the status of local authorities – Moscow and Saint-Petersburg. The cities have the status of the subjects of the Russian federation. In comparison to other subjects Moscow and Saint-Petersburg have the additional competence in terms of establishing the financial basis and organizational structure of local authorities by regional acts in accordance with the federal legislation. The reason for this was the necessity to manage the city economy as a whole and to avoid its fragmentation. No other Russian cities (in spite of the territory and even with more than one million populations) had the same structure. The extension of Moscow capital city territory was realized by accession of some municipalities of the Moscow region (Moscovskaya oblast’). In accordance with the federal legislation their competence was broader than those of Moscow local municipalities. The organizational structure, competence and financing are the milestones of any LSG system. Thus, the balance and coherence between “New Moscow” and “Old Moscow” municipalities will be seen through these characteristics.
The paper studies a problem of optimal insurer’s choice of a risk-sharing policy in a dynamic risk model, so-called Cramer-Lundberg process, over infinite time interval. Additional constraints are imposed on residual risks of insureds: on mean value or with probability one. An optimal control problem of minimizing a functional of the form of variation coefficient is solved. We show that: in the first case the optimum is achieved at stop loss insurance policies, in the second case the optimal insurance is a combination of stop loss and deductible policies. It is proved that the obtained results can be easily applied to problems with other optimization criteria: maximization of long-run utility and minimization of probability of a deviation from mean trajectory.