We propose a novel machine-learning-based approach to detect bid leakage in first-price sealed-bid auctions. We extract and analyze the data on more than 1.4 million Russian procurement auctions between 2014 and 2018. As bid leakage in each particular auction is tacit, the direct classification is impossible. Instead, we reduce the problem of bid leakage detection to Positive-Unlabeled Classification. The key idea is to regard the losing participants as fair and the winners as possibly corrupted. This allows us to estimate the prior probability of bid leakage in the sample, as well as the posterior probability of bid leakage for each specific auction. We find that at least 16% of auctions are exposed to bid leakage. Bid leakage is more likely in auctions with a higher reserve price, lower number of bidders and lower price fall, and where the winning bid is received in the last hour before the deadline.

The pocket data book contains main digital economy indicators for the Russian Federation. Contains information on the use of ICT by individuals and enterprises, e-government development, personnel for digital economy, telecommunications and ICT sector development. International comparisons are provided for a number of indicators. The data book includes information of the Federal State Statistics Service (Rosstat), the Ministry of Digital Development, Communications and Mass Media of the Russian Federation, the Ministry of Education and Science of the Russian Federation, Bank of Russia, OECD, Eurostat, ITU, World Intellectual Property Organisation, and results of own methodological and analytical studies of the HSE Institute for Statistical Studies and Economics of Knowledge.

 

The report addresses the issue of business communication and its role in organizations in the aspects of personnel management. We study how communication influences the retention and good performance of personnel. Communications are an integral part of the activity of organizations. Communications largely determine the effectiveness of personnel management. Well-designed communications reduce the time of problem solving and of adaptation of employees, help in conflict resolutions etc. In spite of obvious importance of the communications in organization the studies of this problem require new approaches and methods. We explore mechanisms that help to keep the staff in organization and to create a desire to continue its activities in this organization. On base of social identity approach (H. Tajfel, J.C. Turner) and business psychology approach (S Benton, N. Ivanova,) we studied the Identity Focused Communication (IFC). This type of communication realizes, through integrated work of organization, the development of cognitive, value-motivational and behavioral characteristics of social identity. IFC can be considered as a human development technology which helps employers in clear understanding of values, professional and social role and pattern of behavior in organization. On this theoretical basis and case studies method in different organizations we observed the role of IFC in the development of organizational culture for rising of personnel engagement and loyalty. Results of this research can be useful for business counseling and business management process, development of personnel identity, loyalty, and performance. The results allow us to see new aspects in communication, develop training programs and staff development, and improve internal communication. Our results can develop the understanding of the semantic core of effective communication’s strategy of organization which include corporate “picture of world” and image of the organization. We can add the knowledge of professional values and patterns of behavioral and social roles. The data obtained can be considered as a pilot to build new hypotheses and further research on a broader sample and with the use of experimental procedures.

In the twenty-first century, universities worldwide have found themselves thrust into a great "brain race" as nations, both developed and developing, seek to enhance their place in the global knowledge economy. As the concept of the de-localized university—one that has radically expanded, perhaps even beyond national borders—grows, competing nations have begun reshaping aspects of their national systems to accommodate global standards and metrics.

In Professorial Pathways, Martin J. Finkelstein and Glen A. Jones consider how academic careers vary in countries that are fundamentally different in their organization and dynamics. Building on 25 years of scholarship, the book confronts major questions: What can we learn from the experience of other nations as they seek to balance the seemingly contradictory imperatives of expanding access and ensuring global competitiveness? What are the implications of this rapidly changing policy environment for the health of the academic professions on which university teaching and scholarship depends? And how can we advance the comparative study of higher education and, in particular, of the academic profession?

The volume brings together detailed case studies of the latest—and ever-changing—educational developments in ten countries across Europe (France, Germany, United Kingdom, Russia), Asia (China, India, Japan), North America (United States, Canada), and South America (Brazil). Essays written by respected scholars in the field identify the major structural features of national higher education systems and academic markets that directly shape academic work and careers. Professorial Pathways will be of interest to anyone who toils in the vineyards of comparative and international higher education.

Workshop concentrates on an interdisciplinary approach to modelling human behavior incorporating data mining and expert knowledge from behavioral sciences. Data analysis results extracted from clean data of laboratory experiments will be compared with noisy industrial datasets from the web e.g. Insights from behavioral sciences will help data scientists. Behavior scientists will see new inspirations to research from industrial data science. Market leaders in Big Data, as Microsoft, Facebook, and Google, have already realized the importance of experimental economics know-how for their business. 

In Experimental Economics, although financial rewards restrict subjects preferences in experiments, exclusive application of analytical game theory is not enough to explain the collected data. It calls for the development and evaluation of more sophisticated models. The more data is used for evaluation, the more statistical significance can be achieved. Since large amounts of behavioral data are required to scan for regularities, along with automated agents needed to simulate and intervene in human interactions, Machine Learning is the tool of choice for research in Experimental Economics. This workshop is aimed at bringing together researchers from both Data Analysis and Economics in order to achieve mutually beneficial results.

This book discusses the role of regional design and visioning in the formation of regional territorial governance to offer a better understanding of (1) how a recognition of spatial dynamics and the visualization of spatial futures informs, and is informed by, planning frameworks and (2) how such design processes inform co-operation and collaboration on planning in metropolitan regions. It gathers theoretical reflections on these topics, and illustrates them by means of practical experiences in several European countries. Innovatively associating ideas with knowledge, it appeals to anyone with an interest in planning experiments in a post-regulative era. It aims at an increased understanding of how practices, engaged with the imagination of possible futures, support the creation of institutional capacity for strategic spatial planning at regional scales.

 

Water Conservation and Wastewater Treatment in BRICS Nations: Technologies, Challenges, Strategies, and Policies addresses issues of water resources—including combined sewer system overflows—assessing effects on water quality standards and protecting surface and sub-surface potable water from the intrusion of saline water due to sea level rise. The book's chapters incorporate both policies and practical aspects and serve as baseline information for future adaption plans in BRICS nations. Users will find detailed important information that is ideal for policymakers, water management specialists, BRICS nation undergraduate or university students, teachers and researchers.

The industrial development of emerging markets has been a powerful driver for mergers and acquisitions. The contributions collected in this book assess major M&A deals in the largest emerging capital markets (Brazil, Russia, India, China) and their role in shareholder value creation in the markets’ specific business environments. In addition, the book explores various dimensions of M&A deals in order to summarize the main trends in corporate control markets in the largest emerging countries, and how they differ from those in developed countries; to identify deal-performance relationships and the determinants of success or failure; to reveal the drivers for the premium in M&A deals; and to capture market responses to different M&A strategies. By doing so, the book makes a significant contribution to the literature, which has to date largely focused on developed markets.

In our research, we study what macroeconomic factors drive and influence the credit cycle. Also, our study contains four sections with theoretical and empirical parts, in which we describe how to measure credit cycles for developed  and developing countries, and then we introduce an important indicator credit gap. Our results show the comparative analysis of credit cycles between different countries with various economic growth, and we built up an econometric model, which shows us the impact of macroeconomic factors according to credit cycles  for developing and developed economies.

In the last decade Russia has searched for new alternative policies to compensate for its political deficiencies and to balance its rivals in one of the key areas of the approaching geopolitical rivalry, the sea. The Russian assertiveness seen in the Black Sea-Mediterranean basin has recently been a real concern for the international community. In the six chapters of this book, contributors explain Moscow’s newly perceived assertive foreign and security behavior in the Black Sea and Mediterranean basin from their own perspectives, and reach a conclusion about the limits and validity of this new Russian ascendance in the region.

This book is an anthology of essays penned by distinguished experts from around the world to commemorate life time contribution of Sanjaya Baru to the discipline of Geo-economics in India and globally. Curated and published by CUTS International, the book contains 20 essays from 21 distinguished authors,who amongst others include, noted economist Jagdish Bhagwati, two former foreign Secretaries Shyam Saran and S Jaishankar, former US Ambassador to India Robert Blackwill, Secretary General CUTS International Pradeep Mehta, Director NMML Shakti Sinha and former DG, WTO Pascal Lamy. In the current times when the world order is being rapidly reconfigured, this book is a useful resource for the government, think tanks, academia, civil society and all those interested in strategic affairs.

Is it possible for Russian energy companies to develop an effective business strategy based on the restrictions and rules of strategic documents of national scale? Today Russian Energy Strategy sets the benchmarks for business. The set of methods allows for the analysis of open sources and materials for the development of national and corporate strategies. Scenario conditions of development are one of the areas of analysis. The CGE model is used by the World Bank, IMF, OECD and the European Commission for studying economic scenarios, but it has not found applicaton in the Russian energy strategy. Other management technologies in demand by Russian companies are not used in the energy strategy either (e.g.balanced scorecard).

World experience confirms the possibility of adjusting corporate strategies for the benefit of society. Danish Energy Strategy prescribes a smooth transition to alternative energy sources and active implementation of smart energy resources. Experience of Norway in this area is also important. The third energy package of the EU defines the rules of the game in the European market influencing the business models, strategies and long-term deliveries of external counterparties.

Taking into account not only the world trends: slower growth in demand, diversifying energy structure, increasing competitiveness of renewable energy sources, increasing supply from developing countries, tightening climate norms, but also other factors (e.g. Russia being under sanctions, etc.) will allow the company to act as a partner of the state in some issues, and at the same time as an independent entity: its strategy is determined by the board of directors. Modern management technologies allow us to specify and quantify the characteristics of the national energy strategy, and to reflect the priorities in the development strategies of companies. The conditions of the state policy and the parameters of the companies' strategies will have more points of contact and reduce the risk of deviation from the declared goals. The adjustment of the restrictions and rules of the national energy strategy will reduce the risks of imbalance in the actions of society and business. Revision of the program document is possible due to organizational design and methodological support.

This edited volume examines the relationship between economic ideas, economic policies and development institutions, analysing the cases of 11 peripheral countries in Europe, Latin America and Asia across the nineteenth and twentieth centuries.

It sheds light on the obstacles that have prevented the sustained economic growth of these countries and examines the origins of national and regional approaches to development. The chapters present a fascinating insight into the ideas and visions in the different locations, with the overarching categories of economic nationalism and economic liberalism and how they have influenced development outcomes.

This book will be valuable reading for advanced students and researchers of development economics, the history of economic thought and economic history.

Urban population is growing worldwide. Our societies are facing grand challenges like climate change and growing inequalities between people. There is an increasing need to develop cities that are environmentally and socially sustainable, functional and supporting well-being of their inhabitants. When striving towards these goals, transportation and mobility play a crucial role. Easy and environmentally sustainable mobility options are called for in most cities. For these to attract users, they need to be safe and pleasant, providing positive experiences and well-being in addition to efficiency in time or cost.

NECTAR conference is organized with a title “Towards Human Scale Cities – Open and Happy” to reflect the new requirements of urban transportation. This 15th NECTAR conference, organized in Helsinki 5th - 7th June 2019, provides presentations by world-class keynotes Mikael Colville-Andersen and Professor Tim Schwanen, who approach human scale mobility from the viewpoints of a designer and a researcher. More than 140 scientific presentations explore advancements in the field of transport, communication and mobility, with a particular focus on good quality mobility options for people. The focus of the conference is urban transportation and the new possibilities that open data and digital technologies provide for mobility solutions and their research. Presentations provide food for thought concerning mobility choices and quality, new mobility solutions like MaaS, and policies that are implemented to support them.

Helsinki offers an interesting environment for the 2019 NECTAR conference. It is the home of the busiest passenger harbor in Europe with a twin-city development with Tallinn across the bay, and a major air transportation hub between Europe and Asia. It is one of the fastest growing capital regions in Europe, with large densification developments taking place in old logistic centers: harbor areas of Jätkäsaari and Kalasatama and a train depot in Pasila. Public transportation is valued high by citizens, as well as politicians and planners making investment decisions for the future. First robotized buses are in operation and MaaS solutions are emerging. New bike sharing system is one of the most used in the world and has expanded to cover most of the city region. As everywhere in Europe, new forms of micromobility from electronic scooters to electric longboards are appearing on the streets making planners and police puzzled. The city has profiled itself as an open city: large amounts of open data about the region have been made available and the region of Helsinki is committed to open and transparent decision 

and policy making. This supports also research in the major universities: University of Helsinki and Aalto University, the local organizers of the conference.

We anticipate that the conference days will forward our thinking on how to make cities more sustainable, functional and pleasant for people, and how to study them scientifically in a meaningful and transparent manner.

This book gathers the outcomes of several scientific events that were organized and conducted by the Institute of Scientific Communications (Volgograd, Russia) and the leading universities of the Volgograd region. The contributing authors include more than 700 scholars from various cities and regions of Russia. 124 works were selected out of 3,000 papers on the preconditions of formation, transformation, and legal provision of social institutes, topics that are in high demand in connection with a core aspect of digital modernization – the Internet of Things. The book is intended for a broad target audience, including scholars of various generations and various disciplines. These include young researchers (undergraduates and postgraduates) and recognized scholars (professors and lecturers) who study the socioeconomic and legal consequences of the emergence and dissemination of digital technologies, including the Internet of Things. In addition, the book will benefit all those who are interested in the development of the information society, information and telecommunication, and digital technologies. The content is divided into three logical parts, the first of which is devoted to the essence of the process of institutionalization and legal regulation of the information society.

The pocket data book contains main indicators characterizing S&T and innovation potential of the Russian Federation. There are the information about intellectual property, S&T output, data of international comparisons given.

The data book includes information of the Federal State Statistics Service, Federal Service for Intellectual Property, Organisation for Economic Co-operation and Development (OECD), Eurostat, UNESCO, World Intellectual Property Organisation, national statistical services of foreign countries, and results of own methodological and analytical studies of the HSE Institute for Statistical Studies and Economics of Knowledge.

On 15 March 2019, the first “Connecting Eurasia Dialogue: From the Atlantic to the Pacific” was held in Brussels, at Europe’s political heart. The event was organized by the Roscongress Foundation and the Conoscere Eurasia Association with the support of the Association of European Businesses and the Belgian-Luxembourg Chamber of Commerce. Amid the current political cooldown, this was a unique gathering, enabling a high-level dialogue on trade, economic, and integration issues among stakeholders from the wider Eurasian space, including the European Union (EU), the Eurasian Economic Union (EAEU), and China. The focus of high-level policy makers and top business executives attended the Dialogue was on challenges and opportunities of the EU’s engagement with the EAEU, harmonization of soft infrastructure to enhance trans-Eurasian connectivity, and the EAEU’s single pharmaceutical market. This IIASA discussion paper provides a summary of the deliberations, supported by research from inside and outside the Institute.

Development of measures for management accounting, brand management and promotion is one of the main problems of processing and trading enterprises. In management accounting, interest in the formation and management of trademarks (brand) in Russia is growing every year, since well-known trademarks are becoming a prerequisite for a firm's stable position in the market, a factor in its competitiveness. We understand the brand as a subjective image in the minds of consumers, denoted by the brand, consisting of a consistent set of promises to the target consumer and creating a sustainable competitive advantage compared to non-branded products.

The purpose of the study is to research and substantiate the managerial aspects of the development and promotion of the brand. The paper presents elements of management and operational accounting for the development and promotion of the brand. At the present stage of development of competitive markets, more attention should be paid to management accounting, including methods for developing and promoting trademarks (brands). In the current conditions of commodity abundance and tougher competition, the goal of brand promotion is seen as one of the important activities in an organization that has a direct impact on the financial results of the organization.

The following research methods were used in the work: monographic method, dialectical method of knowledge, statistical and system approach, analysis, comparison, statistical descriptions of economic processes.

In the process of drying the grain in a dense layer in motion, the grain moves through the grain dryer. The movement of the grain layers is usually uneven. In addition, it is likely that the temperature and consumption of the desiccant agent will not remain the same throughout the height of the drying zone. The specific power of the microwave field in the drying zone can also alter. All these factors affect the speed and uniformity of drying of the grain layer throughout the drying zone. In the first stage, an analysis of the theoretical studies on the subject was carried out. It was determined that to date there has not been presented any work in which mathemati-cal models of heat and humidity exchange in a dense layer of grain in motion with con-sideration of the relative vertical movement of the layers. Therefore, it is necessary to develop such a mathematical model. As an initial configuration for the development of a mathematical description of the drying process, it was deemed appropriate to use the configuration of the microwave and convection zone developed by the authors. The equal probability of combination of parameters of the desiccant agent temperature, its relative humidity, the velocity and distance from the caryopsis to the waveguide was assumed. From this point, we developed a computerized microwave and convection drying model that takes into account this type of change in the parameters. The results of the grain drying simulation demonstrated the efficiency of the computer model obtained, reflecting the influence of fluctuations in grain parameters and the microwave field in the drying process. To evaluate the accuracy of the obtained model, it is necessary to carry out experimental studies.

In the present economic situation, effective management accounting of the activities of any

agricultural enterprise implies regular monitoring using a whole range of traditional and innovative

analytical and management tools. In the conditions of the modern market, the need for research of the theory and practice of management accounting and its features in relation to a specific target audience is growing. Among the diversity of agricultural organizations, the most important is to identify priorities in improving the business in order to increase its efficiency and uniqueness.

In this paper, with the help of tools, various aspects of management accounting are analyzed,

a new generalized direction of accounting is defined, a new concept of management accounting is given, the most effective and optimal management approaches are identified for effective decision making. The proposed measures can be applied not only by agricultural organizations, but also by other economic entities. The proposed system of management accounting in agriculture can serve

as a starting point for scientific research and improvement of management accounting.

 

The paper looks into the specifics of cross-border investments related to chang￾es in the direction of capital flow. The growth factors regarding the export of capital have been identified from the point of view of the Neo-Keynesian theory of invest￾ment, which describes a situation when the economy of a country demonstrates a sta￾ble excess of the gross saving rate (gross saving to GDP ratio) over the gross accu￾mulation rate (gross accumulation to GDP ratio), which can be the result of forcing exports and/or rapidly growing prices for the main export commodities. The paper presents the results of the evaluated international investment activity of the Russian Federation in 2018–2019, formed with standard components. The main indicators, characterizing financial stability and positions of the Russian banking system given the sectoral limitations, have been reported. The key trade and investment positions of  the Russian Federation and the EU countries have been analyzed. Calculations have been made to demonstrate the volume of direct Russian investments in the EU countries within 2010–2017. Some peculiarities have been identified and the presence of asymmetry in the investment cooperation between the EU and the RF has been confirmed. Specific features of the Russian export of  capital have been revealed. A  range of  factors, preconditioning a growth of flow of Russian bank capital to the countries of the EU, has been formed. The main parameters of  the international investment activity of  Russian banking institutions have been presented and some data have been given on the geographi￾cal distribution of foreign assets and liabilities of the Russian bank sector by groups of countries and individual (most attractive for Russian investment) countries of the world. It  has been concluded that supporting European expansion of  the national banking institutions could be  one of  the prioritized directions of  the state policy of the Russian Federation in the banking sector.

digital transformation of other industries. The extant literature sparsely describes pathways of different sectors in digitalisation, considering the heterogeneous characteristics of firms and sectors. Emerging economies with important state participation represent a particular interest in this area of research. To this end, a multiple case study method was used to describe a set of determinants revealed from the literature on Russian technological development and innovation in manufacturing. Two different patterns were identified. The first one was typical for large leading firms with state participation, which have a global market presence and a substantial level of interoperability, currently turning into a service business model. Private firms that follow the second pattern focus on physical and digital infrastructure upgrading targeted at particular issues to secure connectivity across departments. The state participation does not have a decisive role in digitalisation decisions; however, it affects the participation of companies in national digital initiatives. This study is a preliminary analysis of the determinants associated with corporate digitalisation from the sectoral perspective. Since both national and corporate strategies are ongoing, it seems premature to make generalised conclusions. Instead, the paper provides useful insights for management and policy that refer to digital technology uptake by machinery-building industries.

In the last decades of the 20th century, various classes of alternative investments have become increasingly popular among investors. During this time, art as a form of alternative investment attracted attention not only from potential buyers but also from academic scholars. Unfortunately, only a few of the newly published papers contained any quantitative analysis with regard to art’s investment performance. Besides, even a smaller amount of research was devoted to the analysis of Russian art markets. Therefore, the purpose of this work is to evaluate the efficiency of investments in the artworks of contemporary Russian painters and to compare the effectiveness of these investments with the effectiveness of investments in stock, bond and real estate markets in Russia and the USA. For this research, we first conduct a hedonic regression analysis on the data available for 1950-2019 time period. After that, we build a hedonic price index for the canvases of contemporary Russian artists. According to our results, the trend of this index reiterates largely the price behavior for world contemporary art market. However, the results of our study indicate that investments in contemporary Russian art do not outperform investments in instruments of Russian and American capital and real estate markets. We arrived at these results by applying the CAPM model which demonstrated that Russian art as a form of alternative investment is not advisable for the purposes of diversification of investment portfolios. Based on our findings, contemporary Russian art in general can be considered an unattractive instrument for Russian and foreign investors.

It is assumed that a perfect balance between student academic achievement and university quality is beneficial both for students and higher education institutions (HEIs). Matching theory predicts the existence of perfect matching between the two groups in the absence of transaction costs associated with university enrollment. However, in this study we show cases of mismatch situations in Russia under the Unified State Exam (USE) – the standardized student admission mechanism. This research studies the reasons for this phenomenon for minimal transaction costs and the emergence of unequal access to HEIs. Based on data on Moscow high school graduates who entered university, the determinants of the mismatch between the quality of universities and applicant abilities are assessed. It is shown that although in most cases favorable matching results are established, the individual student achievement results themselves are subject to the influence of school and family characteristics. Thus, inequality of access can be formed at stages preceding HEI enrollment.

Digitalisation in machinery-building is expected to enhance productivity and drive the digital transformation of other industries. The extant literature sparsely describes pathways of different sectors in digitalisation, considering the heterogeneous characteristics of firms and sectors. Emerging economies with important state participation represent a particular interest in this area of research. To this end, a multiple case study method was used to describe a set of determinants revealed from the literature on Russian technological development and innovation in manufacturing. Two different patterns were identified. The first one was typical for large leading firms with state participation, which have a global market presence and a substantial level of interoperability, currently turning into a service business model. Private firms that follow the second pattern focus on physical and digital infrastructure upgrading targeted at particular issues to secure connectivity across departments. The state participation does not have a decisive role in digitalisation decisions; however, it affects the participation of companies in national digital initiatives. This study is a preliminary analysis of the determinants associated with corporate digitalisation from the sectoral perspective. Since both national and corporate strategies are ongoing, it seems premature to make generalised conclusions. Instead, the paper provides useful insights for management and policy that refer to digital technology uptake by machinery-building industries.

The paper shows relationships between characteristics of residents and places where they live. A combination of three criteria of place attractiveness (retention and attraction, conditions for natural growth, and settling) was chosen to classify places, and profiles of their beneficiaries on the theoretical level.

The results of the empirical study partially confirm developed theoretical typologies. Two methods to segment place market are equal only if expectations of population are constant. Study results allow place marketers to identify emerging shifts in the structure of beneficiaries of specific places and predict their further evolution.

 

With virtual purchases being a main source of revenue for game developers, it is still unclear how the player evaluate non-functional goods and experiences those goods grant. With the use of structural topic models, this work demonstrates the dimensions of players’ experience extracted from discussions in their association with the price change. This work contributes to a field by decomposing virtual goods values into experience dimensions in their relationship between extracted experience dimensions and item’s price, and by the detailed description of expectation mismatch

The article discusses the relationship between dividend policy and the quality of corporate governance. On the one hand, decisions on payout policy can be viewed as a mechanism for resolving agency conflict or substitutes for best corporate governance practices, on the other hand, the quality of corporate governance itself is a determining factor in corporate financial decisions. Empirical literature fids proof for both types of the relationship. This paper aims to analyze different explanations of mixed results. We find a set of factors that can affect the link between corporate governance quality and dividend payouts. We show that in some cases substitution effect can dominate the payout policy, but the more often indicators tend to increase Outcome effect with the increase in their values. Positive addition of operational margin and beta as well as negative effects of ROA and firm size do not contradict to the shareholder’s interests and support the idea that dividends work in combination with corporate governance practices to meet the needs. 

Geographical distance has become less relevant in co-authorship. However, this is found to be relevant for monodisciplinary research fields such as economics, math- ematics, physics. Multidisciplinary fields are influenced by norms and traditions of other fields. Higher education is a multidisciplinary field of research in which multiple communities operate under different norms and paradigms. We study collaboration patterns in the field of higher education across different world regions using the Scopus database with the application of the gravity model. Our results show that international collaboration have intensified and increased rapidly in the last two decades. We confirm that the intensity of collaboration is dependent on geographical distance and linguistic commonality. The influence of geographical proximity differs to a great extent between various world regions. EU scholars appear to give preference to linguistic proximate partners over geographical neighbors. Despite the fact that English is a lingua franca in science, language is not a significant factor for the formation of collaboration for North American researchers. This study contributes to the current discussion of the importance of international collaboration in science, paying special attention to the growing public interest in multidisciplinary research.

Manufacturing today is undergoing fast and fundamental changes due to the introduction of Industry 4.0 technologies. Still, the effects of their applications on the global economic and social structure (in terms of risks and benefits) are highly uncertain. This paper is aimed to suggest a special methodology for conducting industry foresight based on timelines construction, which reflects future vision of technological development, and wild cards detection, which represents an advanced technique for technological trends risk management. In this way, we analyze the existing practices of timelines building and wild cards analysis for industry purposes in the academic literature, and suggest own methodology for conducting industry foresight by using these tools. To demonstrate its application, we choose a particular industry with great potential for technological innovation and high degree of uncertainty – the textile and apparel industry. Finally, we discuss future development of this industry at a national level in the context of global technological trends.

This paper studies the influence of parental involvement in the educational process on the educational achievements of Russian students and their educational strategies, such as studying in high school and successful admission to university. We argue that the patterns of parental involvement represent a link between the formal (school) and informal (family) educational institutions and can have a beneficial effect on academic performance and contribute to the choice of the educational pathway to higher education. Based on data from the longitudinal study ‘Trajectories in Education and Careers’, it was shown that the results of school state examinations are positively associated with the active participation of parents in school meetings, the employment of tutors (except for the Unified State Exam score in mathematics), and the provision of additional literature for the child. A negative relationship was found between homework control and student success. In general, the factor of ‘rational’ (not excessive) involvement is positively associated with educational achievement and educational choice, which may indicate the non-linear nature of the relationship. Parental involvement itself depends on the family characteristics, such as mother’s education, family income and the number of books at home. In addition, family has a positive impact on educational success and educational strategies, and high school characteristics are especially important for the results of the Unified State Exam and the university choice.

This paper uses the parsimonious method of embedding skewness in asset allocation based on the Taylor expansion of the investor utility function up to the third term and maximizing it by portfolio weights. This approach also enables us to consider investor risk aversion. Time-dependent multivariate asset moments are obtained via the GOGARCH volatility model with a normal-inverse Gaussian distribution for the error term. We explore the performance of the usual 2 moment utility and its 3 moment counterpart for a portfolio consisted of twenty assets traded on the Russian stock market. The results demonstrate that the 3 moment utility significantly outperforms the 2 moment utility by SD, MAD and CVaR for low levels of absolute risk aversion and by portfolio returns and investor utility level during the whole forecast period.

Mobility of highly qualified personnel between countries and regions is closely related to the issue of the effective distribution of human resources and the prospects for the innovative development of the state. The focus of this study is the interregional mobility of Russian researchers: the geographical movements of scientists between different regions (subjects of the Russian Federation). The empirical base of the study is the data obtained in 2016-2017 during the questionnaire survey of 1880 Russian researchers. Two main aspects are analyzed: already accomplished movements of researchers (moving for the educational or working purposes) and the “attitude to mobility” - readiness to move in the future. The features of researchers depending on their mobility pattern are analyzed. Among the most researchers who had the experience of moving in the past (both for education and work purposes) develops the “attitude to mobility”. In the future, they are more willing to consider various options for moving both “for interest” (to participate in an important large-scale project), and “for money” (to get the job with acceptable level of remuneration). There exists a category of Russian researchers who are ready to move “anywhere”: both abroad and within Russia, to large and to small cities. Researchers who are not ready to move to the place that they consider as a small town in a remote region, are concerned about the prospects for professional growth, difficulties for the family, a different lifestyle, change of professional and personal social circle. These aspects should be taken into account in the development of various programs and measures aimed to stimulate internal academic mobility in Russia.

Government support to small business enterprises (SBEs) through set- aside (SA) public procurement auctions is a common practice. The effect of the SA mechanism is, however, ambiguous. On the one hand, SA auc- tions can attract more SBEs to compete; on the other hand, SA auctions restrict the entry of—possibly—more cost-efficient large firms. We inves- tigate SA auctions’ effect by exploiting an original Russian database on public procurement e-auctions for granulated sugar (a largely homoge- neous good) in the period 2011-2013. To identify the causal effect of SA auctions, we overcome two endogeneity issues: procurers’ choice of SA for- mat and firms’ decision to bid. In an empirical setting where confounding elements are minimized, we found that SA auctions’ effect largely depends on both the reserve price value and the level of competition. We found that there exists an optimal interval for the reserve price where SA auc- tions record lower procurement prices, as compared to non-SA auctions.

The goal of this research is to add to the existing corpus of knowledge concerning particular green finance instrument - green bonds. It tries to answer some questions relevant for both scholars and business in order to reinforce the development of green bonds market. One of these questions is whether green bonds issuance cause positive market reaction. Resent activities in global agenda, starting from United Nations Sustainable Goals released in 2015 and endings huge public attention for green issues in 2019 impose additional burden on companies’ competitiveness. Our major hypothesis is that ecological factors affect investors’ decisions whose portfolios and investment declarations are getting to be more aligned with global ecological agenda. The green bonds issuance provide a signal for investors that the issuing firm is involved in sustainable development and hence its stock may be included in the portfolio.  The study discovers the significance of the “green” label for the stock market reaction. Alongside, it studies some other features of green bonds, fostering their evolvement and justifying their costs for issuers.

This paper presents the results of measuring cross-sectoral economic and technological effects, allowing to determine the degree of dependence between the segments that produce digital technologies and implement them. The basis for empirical calculations was the survey data of leaders among Russian IT companies and retail organizations on the current state of digital and business activity. The purpose of the work is to identify the presence and establish the strength of the relationship between these segments in terms of existing localized industry effects, expressed in the transfer of technology from the IT segments to retail. The authors of the work identified and tested several specific hypotheses, the general meaning of which was to suggest that retail trade in the current stage of economic development in Russia is susceptible to emerging trends in the rapidly changing IT services sector that can quickly and efficiently respond to the growth of the IT companies digital activity by increasing investments in digital technologies and increasing the intensity of their application in business processes. In particular, hypotheses were tested regarding the impact of business activity in the IT services segments on the growth of electronic commerce turnover, the use of online marketplaces, Big data technologies, virtual and augmented reality technologies in retail trade organizations, as well as hypotheses suggesting a connection between the development of mobile applications in the IT segments and the use of mobile technologies, expectations regarding the growth of electronic goods turnover in retail organizations. The obtained results confirmed the majority of the hypotheses put forward, thereby supporting the authors' general assumption about the existence of specific effects of the development of the IT segments on intersectoral technological transfers, revealed the existing specifics of penetration and spread of modern technological trends in trade, and also showed that the IT is currently important component in the process of digital transformation of Russian retail trade organizations.

The purpose of this paper is to explore corporate foresight as a new important instrument within strategic management system of multinational corporations (MNCs). The author directly connects the recent rise of corporate foresight with MNCs’ growing need to fill the gaps of traditional corporate strategic management, struggling with the challenges of today’s global turbulent business-environment (known as VUCA world characterized by unprecedented volatility, uncertainty, complexity and ambiguity). From this perspective corporate foresight is capable to provide a number of viable responses. They include significant expansion of the horizon of MNCs’ long-term future vision, enhanced capabilities of business-environment scanning (identifying not only clearly visible trends but the so-called weak signals as well) and strengthening intra-firm communications in the course of strategy development process, thus contributing to the implementation capacity of multinational corporate team. Within analysis of actual corporate foresight practices of major multinationals special attention is attached to the common features of foresight organization (standard process phases, typical set of methods used) and peculiarities related mainly to different MNCs’ sector-specific environment characteristics, including complexity and dynamics of change. The attempt is also made to disclose the actual impact of corporate foresight activities on the effectiveness of the key functions of MNCs’ strategic management. The author draws the conclusion that corporate foresight is becoming a core element of the strategic management architecture of multinational business, striving to protect and strengthen its global market positioning in increasingly turbulent and unpredictable environment. For MNCs’ top management, trying to find the right strategic course in radically changing competitive landscape, this powerful tool is increasingly playing the same role as GPS navigator for car drivers.

We consider an economic geography setting in which firms are free to choose one of the following organizational types: (i) integrated firms, which perform all their activities at the same location, (ii) horizontal firms, which operate several plants producing the same good at different locations, and (iii) vertical firms, which perform distinct activities at separated locations. We show that there exists a unique organizational equilibrium, which typically involves the coexistence of various organizational forms. We also give necessary and sufficient conditions for the three types of firms to coexist within the same region and show that transportation and communication costs have opposite effects on firms’ organizational choices. This suggests that, depending on its nature, the supply of a new transportation infrastructure may lead to contrasted locational patterns.

This paper studies how innovation strategies of Russian manufacturing firms affect various features of firm performance. A multi stage model is used, which relates the firm’s decision to undertake R&D to its innovation output, technical efficiency, labor productivity, and growth. We also include imports into the knowledge production function, because catching up economies may adopt technologies embodied in imported hardware. Additionally, we link productivity and innovation output to survival. We find that both types of knowledge input – R&D and imports – strongly determine innovation. Innovations yield the strongest performance return in the case of catching up to technological frontier. Product innovation is more beneficial than process innovation in all performance features except for labor productivity. However, higher efficiency does not improve the growth rates or survival time of manufacturing firms. Taken together, these results show that innovation is not uniformly rewarded across all features of firm performance.

We study ex-post fairness in the object allocation problem where objects are valuable and commonly owned. A matching is fair from individual perspective if it has only inevitable envy towards agents who received most preferred objects -- minimal envy matching. A matching is fair from social perspective if it is supported by majority against any other matching -- popular matching. Surprisingly, the two perspectives give the same outcome: when a popular matching exists it is equivalent to a minimal envy matching. We show the equivalence between global and local popularity: a matching is popular if and only if there does not exist a group of size up to 3 agents that decides to exchange their objects by majority, keeping the remaining matching fixed. We algorithmically show that an arbitrary matching is path-connected to a popular matching where along the path groups of up to 3 agents exchange their objects by majority. A market where random groups exchange objects by majority converges to a popular matching given such matching exists. When popular matching might not exist we define most popular matching as a matching that is popular among the largest subset of agents. We show that each minimal envy matching is a most popular matching and propose a polynomial-time algorithm to find them.

Individual rankings are often aggregated using scoring rules: each position in each ranking brings a certain score; the total sum of scores determines the aggregate ranking. We study whether scoring rules can be robust to adding or deleting particular candidates, as occurs with spoilers in political elections and with athletes in sports due to doping allegations. In general the result is negative, but weaker robustness criteria pin down a one-parameter family of geometric scoring rules with the scores 0, 1, 1 + p, 1 + p + p^2, . . .. These weaker criteria are independence from deleting unanimous winner (e.g., doping allegations) and independence from deleting unanimous loser (e.g., spoiler candidates). This family generalises three central rules: the Borda rule, the plurality rule and the antiplurality rule. For illustration we use recent events in biathlon; our results give simple instruments to design scoring rules for a wide range of applications.

This paper studies how the influence of the fundamental factors on the Russian stock market changes retrospectively. We empirically test the impact of daily values of fundamental factors (indexes of foreign stock markets, oil price, exchange rate and interest rates in Russia and the USA) on the MOEX Russia Index over long time interval from 2003 to 2018. The analysis of the ARIMA-GARCH (1,1) model with a rolling window reveals the changes in the power and direction of the influence of the fundamental factors which are probably caused by the structural instability revealed earlier in Russia and other stock markets. The Quandt-Andrews breakpoint test and Bai-Perron test identify the number and likely location of the structural breaks. We find multiple breaks probably associated with dramatic falls in the stock market index, for example with the significant falls of the then MICEX index in the spring of 2006 and the global financial crisis of 2008-2009. The results of the regression models over the different regimes, defined by the structural breaks, can vary markedly over time.

We consider an economic geography setting in which firms are free to choose one of the following organizational types: (i) integrated firms, which perform all their activities at the same location, (ii) horizontal firms, which operate several plants producing the same good at different locations, and (iii) vertical firms, which perform distinct activities at separated locations. We show that there exists a unique organizational equilibrium, which typically involves the coexistence of various organizational forms. We also give necessary and sufficient conditions for the three types of firms to coexist within the same region and show that transportation and communication costs have opposite effects on firms' organizational choices. This suggests that, depending on its nature, the supply of a new transportation infrastructure may lead to contrasted locational patterns.

The article explores the effectiveness of public policies to encourage innovation by industry, and in particular to develop industry-science interactions. The demand and impact of innovation policy measures on enterprises’ behaviour is investigated based on the results from a specialized survey of high-tech and medium high-tech manufacturing enterprises in Russia, conducted in 2018. The empirical approach is based on the concept of additionality allowing to determine the net effects of policy interventions. Particular attention is paid to the comparison of changes in the behaviour of enterprises (behavioral additionality) depending on their innovation strategies, including the decision to cooperate with universities and R&D organizations. The results indicate that while there is a strong demand for policy instruments used to promote innovation, they do not provide significant additional impacts to the business’ innovation activity. State efforts to promote industry-science cooperation seem to be ineffective. Public support contributes to reinforcing already established links, but does not lead to the emergence of new research partnerships.