Влияние неопределенности фондового рынка на инвестиционную активность российских компаний через формирование цен на базовые активы
In this article an influence of the uncertainty on the forward market is researched, arising at formation of the prices for derivative financial instruments, a base asset for which is the main production of the large russian extracting companies. The prices which are establishing on derivative financial instruments are expectations of future prices for base assets of derivatives. Such data are the certain aggregated forecast of future situation which the companies should take into consideration at formation of the investment policy.
The paper examines key channels of technology transfer for modern Russian industrial enterprises. The concept of technology transfer is analyzed and its key peculiarities are revealed, that may influence if modernization and innovation-based development are the focus of investigation. The focus of attention is at mergers and acquisitions as one of the most appropriate channels from the complexity of processes vision. The possible range of strategies for technology-motivated mergers and acquisitions are identified and four main smodels of technology-based mergers and acquisitions are defined. On the base of the industrial enterprises' managers survey appriaches to valuation of technology-related component in mergers and acquisitions are developed
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.