The article is devoted to the analysis of the problem of limited access to the investment resources available for the early-stage technology companies which results in the failure of many venture projects with high economic potential and the high concentration in innovative industries. The author argues that the key reason for this lies in the portfolio companies’ selection strategies of venture funds that represent the primary source of project financing in the developing technology markets.
The article provides a theoretic framework for the estimation of project value by venture investors, which allows to analyse various effects that influence the investment attractiveness of the companies at different stages of their life cycle. The author demonstrates how investor’s expectations with respect to the market structure of the new industry, technical complexity and innovativeness of the project, the quality of management affect the difference in the valuation of the early-stage companies and more mature technology projects.
The results of the analysis might be used both for the research of mechanics of the project potential evaluation and for the optimization of the venture funds’ organizational design in order to simulate the investments into early-stage companies.
In this article are considered and analyzed the main factors affecting on work motivation and social interaction of the startups project team. There are justified the assumption that the social and economic environment and success factors of innovative business are determined by specific of this activity type. This specific is based equally to both on the necessity of using traditional motivation methods and on instilling of the innovative entrepreneurial mindset to participants - so-called "a spirit of entrepreneurship". Also it is based on creating of an entrepreneurial culture for each project team member.
Review of current debt and fiscal policies executed by regional administrations of the regions in Ural Federal District and a neighboring Perm Region. Demonstrated, that debt strategy of the region depends mostly not on internal drivers – such as level of economic development and related revenues, but predominantly on federal policy in these areas. Forecast of debt policies of covered regions was given, and recommendations on appropriate instruments for debt funding proposed. .
In this article we consider influence of production concentration in industry and presence of foreign ownership in charter capital on fixed capital investments of industrial enterprises based on food-manufacturing industry. We characterize investment behavior of different manufacturing industries in 2002-2012 and explore influence of crisis on investment process. For the first time we use dynamic stochastic frontier investment model to simulate fixed capital investments.In this article we consider influence of production concentration in industry and presence of foreign ownership in charter capital on fixed capital investments of industrial enterprises based on food-manufacturing industry. We characterize investment behavior of different manufacturing industries in 2002-2012 and explore influence of crisis on investment process. For the first time we use dynamic stochastic frontier investment model to simulate fixed capital investments.
This study attempts to map out the subject field of accounting as academic discipline in Russian and English-language journals. Sampling was carried out on the basis of academic journals’ ratings in elibrary.ru and SCImago Journal & Country Rank, among items whose names included «accounting» term, papers from 2009 to 2013. We allocated the main topics and scopes of papers by the content-analysis method. Authors’ interest to various components of accounting domain is revealed by methods of descriptive statistics. The main purpose of this paper is to reveal similarities and differences between the features of accounting domain in Russian and international academic papers. Comparison of authors’ interests showed both similarities and considerable distinctions in understanding of a subject field of accounting and interest in its various components research. The common features are the high interest in methodical aspects of accounting and rather low number of papers in all sections of analysis. Qualitative distinctions in the maintenance of the discipline subject field are revealed: the interpretation of the nature of the accounting in the international journals is broader than in domestic ones, and the understanding of the contents of some analytical sections also considerably differs. Specific features of Russian papers are the microeconomic nature of research objects (the single entity, special type of economic operations and so on), static approaches and the perception of accounting as a practice. The specific of the international papers are large-scale objects (social practices, financial institutions, the historical periods, etc.), the consideration of accounting as knowledge, dynamical approach. The strongest quantitative distinctions of interests between domestic and international authors are noted in scopes of audit, history and prospects of accounting. Finally, we draw conclusions about the causes of these differences. The further directions of scientometric researches in the accounting domain are offered.