Актуальные вопросы организации финансового управления в холдинговых структурах
Two parallel conducted researches show that we should not restrict ourselves from considering influence of human resources on productivity, product quality and client's satisfaction in the system of corporate per-formance assessment. Quality of various business processes includes rela-tions between employees with various competence and social groups. The hu-man factor should be taken into account in systems of performance assess-ment at the detailed and socio-psychological levels. Performance Management, strategy realisation, balanced rating system, op-erations, business processes.
Integrated approach to the company management is one of the ways to improve its competitiveness. Strategic and operating decisions; computational and intuitive solutions; financial and non-financial aspects of the activity – special models allow to combine all sides to achieve best result for the company.
Continuous turbulence in external environment has resulted in significant change of company’s long-term goal: from traditional to value-based management system. This article discloses advantages and disadvantages from corporate strive to use balanced score card for maximizing stakeholder’s value (welfare).
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.