Сorporate social responsibility (CSR) and sustainable business is one of the global trends. Abundance of corporate social responsibility ratings allows us to trace the relationship of this parameter with the financial and organizational results of the company. Current studies in this area are based on qualitative methods and small sample of firms that did not allow to give a clear answer about the presence or absence of the correlation. Correlation analysis of a large number of companies allowed us to reveal the relationship between the financial and organizational results of the company and its social responsibility level. One of the most significant results is the identification of a positive correlation between CSR level of revenue and long-term organization.
The article examines the legal status of the main participants of currency relations: residents and nonresidents, on whom the state currency regulation and control is directed; the article raises an important issue of sings identification and determination of concept currency legal relations in terms of financial and legal science, as well as identifies the legal regimes of currency operations performed by residents and non-residents. The article raises the problematic issue of enforcement in relation to accountability for delays in the repatriation of currency earnings, and gives practical recommendations for balancing the risks involved.
Owners of retail stores ore strongly interesting by the level of buyers’ loyalty because customers are the main source of income for retail organization. In our study, we proceed from the premise that customer loyalty strongly correlates with the overall level of customer satisfaction. That is, the probability of repeated purcase is growing with growth of the satisfaction and, company's revenue increases as result. In this study, we examined the contribution of the components of satisfaction in overall satisfaction, using as a sample of data obtained during the survey of clients of the company "Commonwealth Auto-Alliance" and the data from internal customers database of this company. Results of the study has been used in graduate work in Bauman Moscow State Technical University in 2016.
The article assesses the effectiveness of investment strategies involving the use of shares with high dividend yield in the markets of Germany, France, Russia, South Africa and Brazil. The effectiveness of such strategies is analyzed on the basis of the existing papers and using the method of modifying such strategies developed by the author for obtaining more profit. The study period is 13 years: from 2006 to 2018. Modifications of high-dividend strategies associated, firstly, with different control month, secondly, with different number of stocks in the portfolio, finally, with the deletion or doubling the weight of stock with the highest dividend yield. The conclusions are made about the different effectiveness of high-dividend strategies in the markets of developed and developing countries, which is related to the different level of effectiveness of these markets. In the markets of Germany and France most of the reviewed portfolios showed lower profitability than market, in Brazil and South Africa they were significantly more profitable than the market. In the Russian market high-dividend portfolios were successful during whole period of the study, because of the high profitability during last 3 years. The effectiveness of the reviewed portfolios in emerging markets is confirmed using the Sharpe ratio as the risk to return indicator. The hypotheses about the possibility of making a higher profit in the case of using modifications of the classical high-dividend strategies are confirmed. Nevertheless, various modifications have shown a multi-directional effect on the final profitability of strategies, which indicates the need for individual study of the parameters of a particular market before using high-dividend strategies.
Over the last few years the issue of sustainable development has become increasingly important in the world. One key condition for the transition to sustainable development is the formation of a “green economy”. According to the definition given in the reports by the United Nations Environment Programme, a “green economy” is one that enhances the welfare of the people and ensures social justice and thus significantly reduces environmental risk and degradation.
In this paper, we expose the relationship between the companies’ expenses on environmental protection and other indicators in their financial and non-financial reporting of the largest Russian companies for the extraction of oil and gas. The study was made using econometric methods. It was found that the exploitation of natural resources and compensation of harm caused to the environment should not be considered as separate and independent from each other processes. We prove the balanced utilization of natural systems and their regeneration.