V Международная научно-практическая конференция молодых ученых "Время вызовов и возможностей: проблемы, решения, перспективы". V International, scientific and practical conference of young scientists and students "Time of challenges and opportunities: problems, solutions and prospects".
At the moment in Russia a policy of privatization of companies with the state participation in the share capital is being conducted; the results of this study will help to make predictions about the dynamics of performance of privatized companies
The main goal of the research is to study the impact of state participation in the share capital on performance of the company. The study showed that state participation in the capital negatively affects to the companies' performance. However, in this work an interesting result that enterprises of a natural monopoly receive the net profit more than other companies was obtained.
Analysis of innovative activity of businesses, particularly those in the transport sphere, in the Russian Federation is provided, based on the OECD data. Company size, level of monopoly power and industryspecific characteristics were used as factors to determine innovative activity. All factors point at low level of R&D spending by Russian businesses, including those in the transport industry. Natural transport monopolies are significantly behind the world's largest companies in R&D. Lack of innovative management system in businesses is the chief barrier to innovative activity.
The research is devoted to the analysis of reasons and risks of use of the essential facilities doctrine in Russian antitrust policy. Basing on the comparative analysis of the US and European experience it is shown that the results of the doctrine application depend very much on the legal system. According to the considered cases Russian experience of following the principles of the Doctrine in antitrust cases against natural monopolies is quite successful. However, the efficiency of the instrument becomes questionable when it is used outside of the infrastructure sectors due to the high probability of errors of law enforcement.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.