The assessment of the credit risk of investment projects
National Research University – Higher School of Economics (Moscow) and author has been researching the leasing market of Russia for 18 years. Particular attention in the article presents the dynamics that characterizes the development of market in the country by value of new contracts, the largest leasing portfolios, calculated author of segmental structure of the leasing market and regional structure. This article presents the results of the econometric analysis of the relationship of the value of new contracts with the amount of advances, terms of contracts and lease rate per cent. Exploring the structure of financing of leasing operations, the author has developed a new approach to determining leverage leasing projects.
In this monograph revealed the key theoretical and practical issues in the field of investment projects funding with financial market instruments used by the real sector corporations. The authors proposed a scientific model of forecasting the level of interest rates in the economy with the aim of building plans for its activities, and also provides a mechanism to identify the most effective instrument of investment project funding. The main provisions are designed for the real sector of corporate economy. The authors have discussed in detail the tools of state regulation of the process of interaction between the financial and real sectors and put forward recommendations to address the shortcomings in the existing regulation. This monograph is intended for students, teachers and researchers, as well as professionals working in the field of financial management in business organizations.
Beer was the drink of choice in many ancient societies and throughout the past centuries in large parts of the world. Right now, it is globally by far the most important alcoholic drink, in volume and value terms. The largest brewing companies have developed into global multinationals. The beer market is characterized by strong growth in emerging economies, by a substantial decline of (per capita) beer consumption in traditional markets, and a shift to new products. There has been a strong interaction between governments (politics) and markets (economics) in the beer industry. For centuries, taxes on beer or its raw materials were a major source of tax revenue for governments. Governments have also regulated the beer industry for reasons related to quality, health, and competition. The beer market is not only an interesting sector to study in itself but also yields important general economic insights. This book is the first economic analysis of the beer market and brewing industry. It comprises a comprehensive and unique set of economic research and analysis on the economics of beer and brewing. The various chapters cover economic history and development, demand and supply, trade and investment, geography and scale economies, technology and innovation, health and nutrition, quantity and quality, industrial organization and competition, taxation and regulation, and regional beer market developments.
Since 2003, by decision of the Presidium of the Higher Attestation Commission of the Ministry of Education of the Russian Federation, « Scientific Works of the Free Economic Society of Russia» are included in the «List of leading scientific journals and publications» produced in the Russian Federation in which basic scientific results of dissertations for the degree of doctor and candidate of sciences should be published.
The study presented in the article is devoted to topical problems of the Russian venture capital market. Despite the fact that this area has good funding from the state and the presence of large development institutions, today it can not be called successful. The authors aim was to characterize the current state of the venture market in Russia, identifying the most important problems, and form recommendations for overcoming these problems. It was accomplished by taking in-depth interviews with leading experts in the field – representatives of investment and venture funds, state development institutions and business angels. Obtain expert evaluation allowed the authors to form a holistic view about the current situation on the venture capital market, as well as to identify the possible ways of its further development.
This paper analyzes the Internet segment of the Russian venture market; specifically, its development in the framework of overall venture market, venture deals, stages of venture financing, and startup lifecycle. This research project is focused on different barriers that startups face as they proceed along the lifecycle and the possible support of the business ecosystem. Theoretical constructs are verified with data from the Russian Internet venture market. Field research explores the obstacles faced by Internet startup founders during each stage, which may represent opportunities for the startup support in order to increase the startup survival rate. According to the data provided by CB Insights Venture database, the global venture market accounted for $82.1 billion in the first half of 2014, which represents 67 percent growth, compared to the first half of 2013 (see Figure 7.1). The US market accounted for most of this volume (64 percent), while the BRICS are getting increased investors’ attention, especially China and India – with their shares of the global venture market increasing from 4 percent and 3 percent in the second half of 2013 to 7 percent and 4 percent in the first half of 2014, respectively.
This article is devoted to the questions relevant to the notion “investment”, the special features of the investment.
There is an attempt to consider this difficult and ambiguous phenomenon from the point of view of economic and legal doctrines in article. The attempt is allowed to investigate complex the content and essence of this phenomenon, to show its economic and legal features.
These investment features are made to set up correlation and distinguish between the notion «investment» and similar phenomena.
In addition, there are the author's definitions of the notions “investments.” For example, author propose to define the “investments” the economic point of view as - it is the capital, which has special purpose (to gain the benefits), and the “investment process”- it is the placement process of the capital, which has special purpose (to gain the benefits).
The «investments» as legal point of view is a benefit or set of the benefits which are put in objects of business and (or) other activity for receiving profit and (or) achievement of other social effect.