The article is devoted to problems of capital adequacy level establishment by credit institutions. The authors scrutinize closely main concepts (Vaichek) and approaches, which underlie Basel 2 maturity adjustment formula. In the article authors treat critically the credit risk undervaluation problem for highly rated borrowers.
The paper deals with the problem of determining optimal position in foreign currency for an international investor. In the first part of the paper effectiveness of international diversification is considered. In the second part the author considers modern models designed for determining optimal position in currency for international investor depending on his aims (risk minimization, financial wealth maximization). The author suggests ways to improve wealth maximization model, aimed both to increase the quality of approximation of processes of changing prices on financial markets and to enhance the quality of modeling investor’s preferences by including coherent or spectral risk measures in financial wealth maximizing function. When standard deviation is used to model investor’s preferences it is assumed that the value of the portfolio for investor depends equally on positive and negative returns. Actually investor is more responsive to losses than to a large positive return. This fact is of great importance for investment funds managers seeking to minimize the outflow in times of economic instability. To improve the quality of approximation of financial assets prices the author suggests using dynamic conditional correlation matrix to model different assets return interdependence. As Russian stock market is quite risky (in comparison with developed countries capital markets) the author considers it appropriate to use the processes with random jumps for modeling stock prices.
Consumer ethnocentrism is a special field in marketing literature that emerged from the theoretical and empirical attempts to identify the effects associated with a specific perception of domestic products by consumers. As it was demonstrated in several studies, the patriotic economic behavior of consumers can be observed under certain socio-economic and cultural conditions. This behavior has a positive effect on the assessment of quality, perceived value and willingness to buy domestic products and a negative impact on the consumption of foreign goods. However, understanding the possible marketing effects of consumer ethnocentrism is significantly limited due to the lack of relevant research experience at the regional rather than national level - both in the international and Russian practice. In this paper, a comprehensive analysis of the results of previous studies is conducted in order to provide theoretical support for existence of consumer patriotism at the regional level in Russia. The obtained results can serve a basis for hypotheses development of further empirical research.
The article deals with theoretical aspects of the development and implementation of the system of target indicators of the co-production concept in the marketing of territories. The main stages and elements on which the presented system should be based are described. These include: analysis of target markets, analysis of existing and potential types of co-production (volunteering, crowdsourcing, creation of a positive information field, couchsurfing, non-professional excursions and crowdfunding), analysis and systematization of strategic goals for marketing of territories, determining the system of target indicators of co-production, determining the values of target co-production indicators, and development of an algorithm for implementing the suggetsed system of target indicators. Also, the article presents an algorithm for the formation and implementation of the proposed system of target indicators of co-production in the marketing of territories. The algorithm consists of the following four stages: analysis of the existing complex of territory marketing; assessment of the residents’ readiness to support marketing activities in the field of tourism aimed at promoting the territories; implementation of an improved marketing complex, and analysis of the results of implemented activities on co-production in the marketing of territories in the tourism industry. This algorithm can be used by producers of public goods of different levels when planning and implementing marketing activities related to the promotion of territories.
The classical and synthetic securitizations and their historical development from the moment of their origin are observed in the article. The main instruments of securitization, their circuit engineering and main basic assets are described. In addition the global financial crisis, its development and preconditions are observed. The role the instruments of securitization and the contractor risk of the credit default swap deals role in the crisis is shown. Some ways of a quantitative assessment of the contractor risk and the factors which intensify its impact on the system of finance and the main methods of the risk management are described.
The article deals with such a tool of the state innovation policy as a technology platform performing the role of a bridge between the private, public and academic sectors.
Based on the analysis of the research field in terms of inter-firm interactions, it was theoretically proven that a technology platform represents the product of a long evolutionary development of forms of cooperation of economic agents. At the same time, the authors considered the essence of the phenomenon of technological platforms, as a mechanism of implementation of the state innovative policy at the example of the European Union the experience of which formed the basis of establishing similar groups in the Russian Federation.
This was followed by a comparative analysis of the technological platforms of the EU and Russia, which allowed to identify the main methodological differences in the approaches to their implementation. Special attention is paid to currently existing difficulties of the functioning of technological platforms in Russia which were classified based on the results of the comparative analysis. Alongside with this, the article has proposed the most promising direction for making efforts to enhance the success of the implementation of the mechanism of the state policy.
The article deals with the problems of education system reform. The author considers the factors of education market development. The US education system's features are characterized. The approaches to research of the structure of the education services market are justified. The problems in content and forms of educational services in logistics are considered.