Regression, cluster and component analysis of economic globalization of several developed economies is conducted with the purpose to find out the level of international trade globalization. 4 clusters on the basis of trade balance in goods, trade balance in services, FDI are found out.
To large organizations, business intelligence (BI) promises the capability of collecting and analyzing internal and external data to generate knowledge and value, thus providing decision support at the strategic, tactical, and operational levels. BI is now impacted by the “Big Data” phenomena and the evolution of society and users. In particular, BI applications must cope with additional heterogeneous (often Web-based) sources, e.g., from social networks, blogs, competitors’, suppliers’, or distributors’ data, governmental or NGO-based analysis and papers, or from research publications. In addition, they must be able to provide their results also on mobile devices, taking into account location-based or time-based environmental data. The lectures held at the Third European Business Intelligence Summer School (eBISS), which are presented here in an extended and refined format, cover not only established BI and BPM technologies, but extend into innovative aspects that are important in this new environment and for novel applications, e.g., pattern and process mining, business semantics, Linked Open Data, and large-scale data management and analysis. Combining papers by leading researchers in the field, this volume equips the reader with the state-of-the-art background necessary for creating the future of BI. It also provides the reader with an excellent basis and many pointers for further research in this growing field.
The paper explores theoretical approaches to the company IPO underpricing and analyzes capital structure impact on the underpricing of the Russian issuers.
This article evaluates the peculiarities of current corporate ratings systems and addresses specific issues of the development of econometrical rating models for emerging market enterprises. Financial indicators, market-value appraisals, industrial as well as macroeconomic factors of different countries were used as explanatory variables. Ratings of the Standard & Poor's, Moody's Investors Service and Fitch Ratings agencies were considered and used for modelling. The predictive power of the econometrical models was examined. A comparison of the methodologies of the three leading agencies was discussed.
We examine the synergy of the credit rating agencies’ efforts. This question is important not only for regulators, but also for commercial banks if the implementation of the internal ratings and the advanced Basel Approach are discussed. We consider Russian commercial banks as a good example where proposal methods might be used. Firstly, a literature overview was supplemented with an analysis of the activities of rating agencies in Russia. Secondly, we discussed the methods and algorithms of the comparison of rating scales. The optimization task was formulated and the system of rating maps onto the basic scale was obtained. As a result we obtained the possibility of a comparison of different agencies’ ratings. We discussed not only the distance method, but also an econometric approach. The scheme of correspondence for Russian banks is presented and discussed. The third part of the paper presents the results of econometric modeling of the international agencies’ ratings, as well as the probability of default models for Russian banks. The models were obtained from previous papers by the author, but complex discussion and synergy of their systematic exploration were this paper’s achievement. We consider these problems using the example of financial institutions. We discuss the system of models and their implementation for practical applications towards risk management tasks, including those which are based on public information and a remote estimation of ratings. We expect the use of such a systemic approach to risk management in commercial banks as well as in regulatory borders.
Measuring indirect importance of various attributes is a very common task in marketing analysis for which researchers use correlation and regression techniques. We have listed and illustrated some common problems with widely used latent importance measures. A more theoretically sound approach – the Shapley Value decomposition – was applied to a rich data set of US internet stores. The use of store-level data instead of respondent-level data allowed us to reveal the factors, which are powerful in explaining, why some stores have higher rates of willingness to make repeat purchases than the others. By confronting the indirect importance and performance measures for three different internet stores, we have revealed strengths, weaknesses, attributes that the company should bring customers’ attention to and attributes improvement of which is not of a high priority.
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.