Estimation of Costs in the Russian Public Procurement System: A Case Study of Voronezh State University
This article presents an engineering approach to estimating market resiliency based on analysis of the dynamics of a liquidity index. The method provides formal criteria for defining a “liquidity shock” on the market and can be used to obtain resiliency-related statistics for further research and estimation of this liquidity aspect. The developed algorithm uses the results of a spline approximation for observational data and allows a theoretical interpretation of the results. The method was applied to real data resulting in estimation of market resiliency for the given period.
The paper aims to investigate the process of establishing distribution network. The paper takes network paradigm as a main basis of investigation looking at the development of distribution networks in Russian chemical industry.
The reform of budget sector’ entities enables us to compare the impact of different types of public procurement regulations in budget and autonomous organizations in Russia. Such analysis is important in the view of critical discussion on the effects of current procurement regulation (94-FL) as well as taking into account introducing of the Federal Contract System in 2014.
Using the differences in differences methodology we consider public procurements of two national universities in 2011-2012. All procurements of the first university were regulated by the 94-FL requirements. Procurements of the second university were regulated by the 94-FL until June 2011. Later this university introduced its own Procurements Provision. Comparative analysis of procurements of these organizations enables us to estimate the impact of the different types of regulations on the efficiency of public procurement measured by the level of competition and price decline in public tenders as well as timely execution of procurement contracts.
In modern world enterprises need to be agile in their operation and structure to react to changes quickly. One of the open questions here is how to develop the enterprise, or, to be more precise, if enterprise needs to be developed, and if yes, in which way. In this research we are focusing on the case when enterprise stakeholders understand the need of enterprise development, have ideas for that, and they need decision support method to understand if enterprise restructuring is likely to be successful and cost effective. Another covered topic is how to choose the best option for restructuring from variety provided. In this paper we describe the developed decision support method which combines DEMO methodology and transaction costs theory for quantitative costs estimation. To make this method applicable and reproducible we proposed few enhancements to DEMO notation.
This SFI pamphlet provides a Policy Briefing on the critical and ubiquitous role being performed by benchmarking in public services both in the UK and internationally. It complements and partly draws on a special issue of Public Money and Management edited by me and Alan Fenna which also addresses these issues, and which includes some overlapping material treated in greater depth, and with comprehensive references (see Public services benchmarking and external performance assessment: An international perspective. Guest editors: Clive Grace and Alan Fenna (Vol. 33, No. 4, 2013) at http://www.tandfonline.com/r/pmm-benchmarking).
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.
In this paper we investigate how asymmetric information and informed trading influences liquidity and how liquidity influences asset pricing on the Russian stock market in 1998-2011. We use a battery of existing liquidity proxies as well as our own modification of Lesmond et al. (1999) measure and capture informed trading through positive daily return autocorrelation. We find that asymmetric information worsens liquidity, whereas no supportive evidence of adverse impact of informed trading can be discovered, which could be partly due to a weak proxy. Furthermore, liquidity, along with market risk, seems to be the major driver of asset pricing on the Russian stock market. This result, however, is not robust to specifying liquidity as characteristic rather than factor.
On the example of advocacy support of National Population Census in 2010, some specifics features of public information projects under the existing regime of public procurement are considered.
The experience of the well known world business schools in using MBA programs is analysed. Тhe history of MBA programs is presented on many American and European examples. American and British benchmarking in qualities and the content of training programs reflects the current level of business education in many countries of the world. Programs in Harvard School of Business, Ecoles Superior de Commerce, INSEAD and other prestigious schools of business are discribed.
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.
The Working Paper examines the peculiarities of the Russian model of corporate governance and control in the banking sector. The study relies upon theoretical as well as applied research of corporate governance in Russian commercial banks featuring different forms of ownership. We focus on real interests of all stakeholders, namely bank and stock market regulators, bank owners, investors, top managers and other insiders. The Anglo-American concept of corporate governance, based on agency theory and implying outside investors’ control over banks through stock market, is found to bear limited relevance. We suggest some ways of overcoming the gap between formal institutions of governance and the real life.
We address the external effects on public sector efficiency measures acquired using Data Envelopment Analysis. We use the health care system in Russian regions in 2011 to evaluate modern approaches to accounting for external effects. We propose a promising method of correcting DEA efficiency measures. Despite the multiple advantages DEA offers, the usage of this approach carries with it a number of methodological difficulties. Accounting for multiple factors of efficiency calls for more complex methods, among which the most promising are DMU clustering and calculating local production possibility frontiers. Using regression models for estimate correction requires further study due to possible systematic errors during estimation. A mixture of data correction and DMU clustering together with multi-stage DEA seems most promising at the moment. Analyzing several stages of transforming society’s resources into social welfare will allow for picking out the weak points in a state agency’s work.