Материалы международной конференции «Актуальные направления фундаментальных и прикладных исследований», 27-28 февраля 2017 г., North Charleston
The paper demonstrates the potential of the stochastic frontier-based methods of performance assessment of non-profit associations. They are commonly used for productivity analysis and could serve as an adequate tool for such assessment, especially when dealing with numerous non-profits pursuing identical and clearly identified objectives. A case in point are homeowners associations (HOA), which are formed within apartment buildings to manage common property. Data was collected by a survey of 82 HOAs in Russias national capital Moscow and a large industrial city of Perm. Different techniques and robust checks are applied, exogenous parameters that influence HOA efficiency are revealed. Among those, physical conditions of the housing stock and ability of tenants to resolve the collective action problem in operating housing infrastructure were shown to be of primary importance. Overall, HOA, despite of their appeal and successful performance in developed nations, are not necessarily a superior option in countries and societies where civic capacity is in short supply, and housing stock suffers from wear and tear.
In this paper, we estimate cost efficiency of the Kazakhstan and Russian banks. A stochastic frontier (SF) approach based on a panel data for 2002–2006 is used. The Kazakhstan banking system is traditionally assumed to be more advanced compared to the Russian system. In 2003 Kazakhstan adopted the International Accounting System, and in 2005 Basel-2 norms were introduced. None of these happened in Russia during the period of our study. Given these differences, our objective is to examine whether there is a systematic difference in bank efficiency between them. For this we use two sets of SF panel models, viz., models which do not separate and do separate bank effects from inefficiency. Within each set we also consider models with a single and multiple outputs as well as alternative distributional assumptions on inefficiency. Empirically we do not find any significant differences in the cost efficiency scores of banks between these two countries during the period of our study, although some differences (within each country) are found when different distributional assumptions are used. Results are found to be quite robust across several alternative and competing models. We also find that many of the banks in both countries operate below their optimal size.
In literarure there is no single answer to the question, whether the growth of imports in industry leads to decrease or to increase the technical efficiency: possible effect of different mechanisms. In this paper we estimate the stochastic production frontier using firm-level data for food industry in 2005–2011, taking into account a possible relationship between changes in imports and firm’s technical efficiency. We use the «Ruslana» (Bureau van Dijk) database, which contains financial information on companies in Russia. Our results show that in food industry technical efficiency is reducing while import share is increasing.
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.