Book chapter
Исполнение странами — членами «Группы восьми» обязательств, принятых по инициативе России на саммите в Санкт-Петербурге в 2006 году
In book
The author argues that the current state of international relations can be characterized as a new Cold War with Eurasia emerging as its major battlefield and at the same time as a second, non-Western pole of a new confrontation. The reason for it is that the United States and some European countries are trying to reverse the decline of their dominance which they have enjoyed over the past five hundred years. The current situation is much more dangerous than it used to be during the previous Cold War, but this attempt will most likely prove futile. While the world comes through a period of intensifying competition, it will stimulate reformatting of the global geopolitical, geo-economic, and geo-ideological space. The authors assume that the evolution of the international system goes in the direction of a new bipolarity, where Eurasia will play a role of a new geostrategic and economic pole, while the West, probably limited by “Greater America” will become another one. In this new international reality, the U.S. will drift from the status of superpower to the position of an important global center of power. However, at the moment the contours of Greater Eurasia are only beginning to take shape.
Companies needs investments on different life-cycle stages and have to choose the source of financing. Companies' managers try to reduce costs of raising funds, particularly, the cost of equity. One of the instruments trough which they can influence risk and, as a consequence, the cost of equity. Taking investment decisions, investors analyze all the information about company's performance. Over last ten years the interest for financial statements where assets, liabilities, shareholders' equity, incomes and expenses are reported at fair value increased noticeably. Moreover, companies' managers are sure that reporting financial liabilities at fair value can lead to the decrease in the cost of equity. However, the existing researches of the relationship between fair value accounting of financial liabilities and cost of equity demonstrate contradictory results. In this article the regression model was used to investigate this relationship for Russian companies. The results obtained illustrate that the volatility of liabilities reported at fair value influences the cost of equity. It confirms the hypotheses that changes in fair value of financial liabilities can be used by investors as the indicator of company's credit risk.
On May 18-19, 2012, at the presidential retreat in Camp David in Maryland, U.S. president Barack Obama hosted the 38th annual G8 summit. The leaders discussed global economic growth, development, and peace and security. After less than 24 hours of face-to-face time among the leaders, they issued communiqué of only five pages. However, Camp David was a significant success. The leaders came together to effectively address the most pressing issues of the day while setting the direction for the summits that were to follow, including the summit of the North Atlantic Treaty Organization in Chicago, the G20 in Los Cabos, Mexico, and the Rio+20 Summit in Rio de Janeiro, Brazil. That success was propelled by several causes. The first is the set of strong global shocks were particularly relevant to a number of items on the agenda. This included the newest installment of the euro-crisis, spikes in oil and food prices, and the escalating violence in Syria. The second is the failure of the other major international institutions to address these challenges. The third is the club’s dedication to the promotion of democracy and its significance on issues such as the democratic transition in the Middle East and North Africa. The fourth is the high relative capabilities of G8 members, fuelled by the strength of the U.S. dollar, the Japanese yen and the British pound. The fifth is the domestic political control, capital, continuity, competence and commitment of the leaders in attendance. Camp David saw several G8 leaders returning for their sixth or seventh summit and leaders with a secure majority mandate and control of their legislative houses at home. Finally, the constricted participation at the remote and secluded Camp David Summit, a unique and original advantage of the G8 summit style, allowed for more spontaneous conversation and interpersonal bonds. Together, these interconnected causes brought the G8 back, as a broader, bigger, bolder centre of effective global governance.