Информационная прозрачность российских компаний как фактор их конкурентоспособности на рынке капиталов
Despite the fact that the information transparency is one of the many aspects of the corporate management system, it is the most important one among the factors that contribute to the investor confidence level change that determines the dynamics of the company attractiveness level. The information transparency is an important factor that contributes to the company competitiveness level change. The investors are to be sure that the information the company provides is full, accurate and reliable. The article author's goal is to determine the way the information transparency influences the company ordinary shares' value. The value change, in its turn, contributes to the change in the competitiveness level of a company that is present on the capital market. The article is aimed at institutional investors, top managers, and investment analysts.
In this article, the correlation and interaction of organisational and corporate culture are discussed within the framework of a socio-cultural approach regarding the management of employees within developer organisations. The phenomenon of corporate culture is analysed in the context of the system of values and the directives conditioning the attitude of the personnel to the values of the company. The authors analyses the phenomenon of escaping corporate culture as one of the effects of value pressure on the employees. This value pressure comes from organisations introducing the personnel to a rigid system of value-rich requirements.
An article represents a comprehensive overview of approaches to capital structure modeling on the example of the public corporation Silvinit. At first, there are provided a short review of the company and of the corresponding industry followed by the description of how the analogues for the company were chosen. The next part of the article gives a step-by-step description of the practical implementation of such models as WACC model, EBIT-EPS, method of operational profit. Monte-Carlo approach is used for demonstrating an influence of the leverage increase on tax and interest payments as well as company's default risk. In conclusion the authors compare the results of different approaches with the current capital structure of Silvinit.
The book is devoted to comprehensive analysis of the greenhouse gas emission regulation systems, including international, regional and national experience in development and implementation of direct and indirect "carbon" regulation, cap-and-trade schemes, international carbon market and its mechanisms, joint implementation projects, perspectives of carbon market evolution in the future, proposals on imtroduction of low carbon development mechanisms in Russia
The paper explores the factors which may cause conflicts in the state structures and bodies. The research reveals an interaction between the elements of corporate culture and the level of conflict. The article gives wide range of examples of the conflict resolutions in various governmental agencies and recommends the way to prevent the conflicts.
The article considers the processes of progress in production and service sectors and answers the question how and thanks to what service sector of Russian economy left the productive one behind (concerning contribution in GDP of our country). The rates of development of service sector turned out to be so high firstly - as a reason of peculiarities of new Russian economy, which historically was built on the market principles and was developing in conditions of investment resources deficit, secondly - as a reason of system differences between «physical» goods and services as an object of sale. Nowadays Russia faces an unusual symbiosis: effective service companies, operating in hard competitive sphere with average profitability and non-affective from the point of management industrial companies, which thanks to monopolistic pricing have great profitability, providing profits of Russian budget and determining a macroeconomic situation.
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.