• A
  • A
  • A
  • АБВ
  • АБВ
  • АБВ
  • A
  • A
  • A
  • A
  • A
Обычная версия сайта
  • RU
  • EN
  • HSE University
  • Publications
  • Articles
  • Факторинг как инструмент финансирования малого и среднего бизнеса
  • RU
  • EN
Расширенный поиск
Высшая школа экономики
Национальный исследовательский университет
Priority areas
  • business informatics
  • economics
  • engineering science
  • humanitarian
  • IT and mathematics
  • law
  • management
  • mathematics
  • sociology
  • state and public administration
by year
  • 2027
  • 2026
  • 2025
  • 2024
  • 2023
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
  • 2001
  • 2000
  • 1999
  • 1998
  • 1997
  • 1996
  • 1995
  • 1994
  • 1993
  • 1992
  • 1991
  • 1990
  • 1989
  • 1988
  • 1987
  • 1986
  • 1985
  • 1984
  • 1983
  • 1982
  • 1981
  • 1980
  • 1979
  • 1978
  • 1977
  • 1976
  • 1975
  • 1974
  • 1973
  • 1972
  • 1971
  • 1970
  • 1969
  • 1968
  • 1967
  • 1966
  • 1965
  • 1964
  • 1963
  • 1958
  • More
Subject
News
May 15, 2026
Preserving Rationality in a Period of Turbulence
The HSE International Laboratory for Logic, Linguistics and Formal Philosophy studies logic and rationality in a transformed world characterised by a diversity of logical systems and rational agents. The laboratory supports and develops academic ties with Russian and international partners. The HSE News Service spoke with the head of the laboratory, Prof. Elena Dragalina-Chernaya, about its work.
May 15, 2026
‘All My Time Is Devoted to My Dissertation
Ilya Venediktov graduated from the Master’s programme at the HSE Tikhonov Moscow Institute of Electronics and Mathematics through the combined Master’s–PhD track and is currently studying at the HSE Doctoral School of Engineering Sciences. At present, he is undertaking a long-term research internship at the University of Science and Technology of China in Hefei, where he is preparing his dissertation. In this interview, he explains how an internship differs from an academic mobility programme, discusses his research topic, and describes the daily life of a Russian doctoral student in China.
May 15, 2026
‘What Matters Is Not What You Study, but Who You Study with
Katerina Koloskova began studying Arabic expecting to give it up after a year—now she cannot imagine her life without it. In an interview for the Young Scientists of HSE University project, she spoke about two translated books, an expedition to Socotra, and her love for Bethlehem.

 

Have you spotted a typo?
Highlight it, click Ctrl+Enter and send us a message. Thank you for your help!

Publications
  • Books
  • Articles
  • Chapters of books
  • Working papers
  • Report a publication
  • Research at HSE

?

Факторинг как инструмент финансирования малого и среднего бизнеса

Финансовая аналитика: проблемы и решения. 2019. Т. 12. № 1 (347). С. 57–71.
Kosov M.

Subject This paper discusses the instruments of financing small and medium-sized businesses and factoring, in particular, as one of the solutions to problems of working capital shortage.


Objectives The paper aims to investigate the factoring services market of Russia, its trends of development, participants, and the share of factoring in the financing of small and medium-sized businesses.


Methods For the study, I used the methods of synthesis and analysis, comparison, particularization, and formalization.


Results The paper presents the main tendencies in the development of the factoring services market of Russia. It also proposes certain ways to solve the problems of low growth rates of factoring market in Russia.


Conclusions and Relevance Factoring has a number of advantages that can increase the products turnover of small and medium-sized enterprises. The existence of a number of constraints negatively affects its application as a type of financing for enterprises. The results of the research can be used in the development of measures to stimulate the development of factoring in Russia as an alternative type of financing for small and medium-sized businesses.

Priority areas: economics
Language: Russian
Full text
Text on another site
Keywords: малый и средний бизнесфинансированиефакторингfinancingfactoringsmall and medium-sized businessturnoverfactoring servicesоборачиваемостьфакторинговые услуги
Similar publications
Малые и средние предприятия в сельском хозяйстве: анализ эффективности региональной господдержки
Yanbykh R., Мироненкова К. А., АПК: Экономика, управление 2026 № 2 С. 15–25
The study aims to address an important scientific and practical challenge: ensuring equal access to state support for small and medium-sized agricultural enterprises (SMEs) and improving its effectiveness. In recent years, the structure of state support has undergone significant changes. While the federal budget has increased funding for grant support for "Supporting Beginning Farmers and ...
Added: April 28, 2026
Covariate-Balanced Weighted Stacked Difference-in-Differences
Ustyuzhanin V., / Series Econometrics "arxiv". 2026.
This paper proposes Covariate-Balanced Weighted Stacked Difference-in-Differences (CBWSDID), a design-based extension of weighted stacked DID for settings in which untreated trends may be conditionally rather than unconditionally parallel. The estimator separates within-subexperiment design adjustment from across-subexperiment aggregation: matching or weighting improves treated-control comparability within each stacked subexperiment, while the corrective stacked weights of Wing et ...
Added: April 3, 2026
Загадка внутренней мотивации
Vorchik A., / Social Science Research Network. Серия SSRN Working Paper Series "SSRN Working Paper Series". 2026.
This article is devoted to the phenomenon of intrinsic motivation, to understand which two models are proposed. We study how positive/negative intrinsic motivation to work (experienced utility) affects worker's individual labour supply (model I) and the amount of effort they exert (model II). In model I, we use intrinsic motivation to explain the positive/negative slope ...
Added: March 15, 2026
Up and Down the Mount Stupid: An Emotional Explanation of the Dunning-Kruger Effect
Vorchik A., Мамышев М. А., / Series Social Science Research Network "Social Science Research Network". 2025.
In this paper, we develop a formal mathematical model aimed to explain the Dunning-Kruger effect that beginners systematically overestimate their own competence in various fields of knowledge and activity. We argue that the Dunning-Kruger effect arises from the emotional nature of confidence combined with unknown unknowns that it simply can not take into account due ...
Added: February 11, 2026
Microfoundations of the Cultural Modernization Theory
Musaev A. U., Vorchik A., / Series Social Science Research Network "Social Science Research Network". 2026.
This paper attempts to model the evolutionary theory of modernization and democratization. The model reflects the key provisions of R. Inglehart and C. Welzel's theory and provides a microfoundation for the adaptation of subjective values to the objective importances of the survival factors and the structure of the labour markets from the perspective of evolutionary ...
Added: February 10, 2026
Support Link Formation in Contests: Theory and an Experiment
Antsygina A., Teteryatnikova M., Tremewan J. C. et al., / Series "SSRN Working Paper Series". 2025.
Many competitive environments allow for a third party to be indirectly involved by supporting one or both sides in the conflict. Such support can come from trade partners, colleagues, or allies, who can in turn benefit from a supported party's success. We use theory and an experiment to investigate how support relationships develop endogenously in ...
Added: January 31, 2026
Case Studies From Ireland: Celtic Companies Who Innovate Their Way to Sustained Success
Морган Р. Б., , in: Cовременная экономика концепции и модели инновационного развитияТ. 2: 2.: М.: ФГБОУ ВО "РЭУ им. Г.В. Плеханова", 2014. P. 229–232.
The Irish economy of recent years has been held up as an example of success during the "Celtic Tiger" boom years and now that Europe is in recession, Ireland is being referenced in terms of it being a "Poster Child" for austerity. Since the 1960s Ireland has undergone a very rapid modernisation and transformation at ...
Added: January 28, 2026
Inaction Inertia in Economic Decision Making: The Role of Reference Points
Akhmedova A., / Series "SSRN Working Paper Series". 2026.
The study explores a psychological phenomenon of inaction inertia-avoiding action after missing a more favourable opportunity. Unlike action inertia (e.g.,sunk costs effect), inaction inertia has been less studied, particularly in economic contexts. Considering the reference dependent nature of the phenomenon, I build on the work of Kőszegi and Rabin (2006) to examine how past experiences ...
Added: January 23, 2026
Beyond the Notch: Revenue Manipulation and Business Splitting under Simplified Tax System
Kuchumova (Paramonova) Y. A., Ozhegova A., Зорина К. С., / Series SSRN "Available at SSRN 6108727". 2026.
Simplified tax regimes with explicit eligibility thresholds are a common tool which reduces tax burden but distorts firms’ behavior, creating local bunching just below the threshold. However, we show that when firms have access to business splitting their responses extend far beyond the local margin. Our model demonstrates that splitting reduces local bunching but amplifies ...
Added: January 21, 2026
Tax Audit Expectation Updating: Direct and Indirect Effects of an Audit
Kuchumova (Paramonova) Y. A., Кумачева С. Ш., / Series SSRN "Available at SSRN 5312100". 2025.
In recent years, an emerging body of empirical research has shown that tax audits, in addition to recovering unpaid taxes (direct effect), increase future tax compliance (indirect or dynamic effect). This literature also suggests that updating expectations induced by audit experience plays an important role in explaining this indirect effect. However, exactly how taxpayers form ...
Added: January 21, 2026
Tax Debt Collection Enforcement: When are Collateral Tax Sanctions Effective due to their Prompt Impact?
Kuchumova (Paramonova) Y. A., / Series SSRN "Available at SSRN 5277500". 2025.
While the emerging empirical literature shows that collateral tax sanctions (CTSs) - such as driver’s license suspensions or passport denials - appear to be effective instruments to enforce tax debt collection, there are still few theoretical arguments to explain why. In this paper, I model enforcement of tax debt collection and provide a new rationale for why it could ...
Added: January 21, 2026
Momentum Factor or Factor Momentum in REITs Market?
Dobrynskaya V. V., Tomtosov A., Речмедина С., / NRU HSE. Series WP BRP 60/FE/2017 "SERIES: FINANCIAL ECONOMICS". 2025.
We study the application of factor investing in the market for real estate (REITs). The analysis of traditional factor strategies, such as momentum, value, size and profitability, reveals their unstable and atypical behavior in comparison to the equity market, however, there is a strong momentum effect in the factor strategies. We  propose a new dynamic ...
Added: January 21, 2026
Инновационная деятельность российских промышленных предприятий
Besstremyannaya G., Bakshuk M., / ЦЭМИ РАН. Серия 48 заседание "Сборник трудов Шаталинской школы-семинара". 2026.
В данной статье рассматривается реакция российских предприятий обрабатывающей промышленности на ужесточение экономических санкций с акцентом на период после 2022 года. Хотя санкции в целом негативно сказываются на экономическом росте и эффективности деятельности компаний, есть некоторые свидетельства того, что они также могут подталкивать компании к инновациям, а негативный эффект преодолевается при помощи адаптации компании. Исследование заполняет ...
Added: December 31, 2025
Экономический рост и защита прав интеллектуальной собственности в регионах РФ
Besstremyannaya G., Новикова В., / ЦЭМИ РАН. Серия 48 заседание "Сборник трудов Шаталинской школы-семинара". 2026.
Защита прав интеллектуальной собственности является движущей силой для формирования стимулов инновационной активности предприятий. Законодательное закрепление правил пользования результатами интеллектуальной деятельности и обеспечение их соблюдения позволяет поддерживать баланс интересов создателей и пользователей интеллектуальной собственности. Целью проанализировать недостаточно изученную для регионов России связь между экономическим ростом и защитой прав интеллектуальной собственности с использованием двухшаговой регрессии. Результаты моделирования оказались неоднозначными, однако, было доказано наличие значимой связи между защитой прав интеллектуальной ...
Added: December 31, 2025
Управление и экономическая безопасность: страна, регион, малый и средний бизнес : сборник научных статей VIII Международной научно-практической конференции , приуроченной к 95-летию РГЭУ (РИНХ), 04–06 декабря 2025 года
Ростов н/Д: Издательско-полиграфический комплекс Ростовского государственного экономического университета, 2025.
В сборнике представлены материалы VIII Международной научнопрактической конференции «Управление и экономическая безопасность: страна, регион, малый и средний бизнес». В него вошли научные статьи, написанные по итогам докладов, прошедших обсуждение в рамках работы трёх секций: секции 1 «Инструменты развития малого и среднего предпринимательства», секциии 2 «Актуальные проблемы и тенденции государственного управления и региональной экономики», секции 3 ...
Added: December 2, 2025
Being Innovative or Being on the Safe Side - Managing the Risk of Failure
Meissner D., Salati Marcondes de Moraes G. H., Brandão Fischer B. et al., / NRU Higher School of Economics. Series WP BRP "Science, Technology and Innovation". 2025. No. WP BRP /STI/2025.
Innovation has long been at the center of debates in economics, management, and organizational studies. However, innovation is never free of uncertainty and risk. Every act of innovation implies a departure from established paths and a willingness to embrace the unknown. From the beginning it's never clear if there is an audience which appreciates the ...
Added: November 28, 2025
Институциализация психологической помощи в системе высшего образования Российской Федерации
Metelkova E., Вестник практической психологии образования 2024 Т. 21 № 1 С. 34–49
In the article, psychological assistance in the higher education system is analyzed in the context of its formation and development as a social institution — taking into account various scientific approaches to the definition of the concept of “Social institution”, including within the framework of the economic concept of growing social institutions and directed institutional ...
Added: November 21, 2025
The Impact of Phosphate Fertilizer Industry Consolidation on Future Phosphorus Supply for World Agriculture
Shchiptsova A., Obersteiner M., / Series General Economics "arxiv.org". 2025.
The addition of phosphorus, in the form of mineral fertilizer, becomes necessary in most agricultural soils in order to achieve consistent high yield levels of intensive farming and maintain soil fertility. Recent consolidation of phosphate fertilizer industry has transformed fragmented trade into a single integrated global network, where a small group of large-scale companies dominates ...
Added: November 21, 2025
Международный факторинг: как управлять юридическими рисками двухфакторной модели
Reznik R., Международные банковские операции 2019 № 3 С. 4–11
Иностранный элемент в факторинговой схеме неизбежно вызывает нестандартные юридические риски, например проблемы со взысканием дебиторской задолженности в иностранной юрисдикции. Минимизировать риски призвана схема двухфакторного факторинга: задолженность переуступается фактору, который ведет деятельность в стране нахождения дебитора. Свод правил, регламентирующих данную схему, не лишен недостатков, которые приводят к рискам одного из факторов. Какие дополнительные договорные условия помогут ...
Added: October 5, 2025
Лизинг как эффективная альтернатива банковскому кредиту при покупке техники и оборудования для сельского хозяйства
Soldatova A., Техника и оборудование для села 2018 Т. 11 С. 43–47
The leasing mechanism is considered as an alternative to bank lending for financing the acquisition of equipment and agricultural machinery. The advantages of this financial instrument are given. The programs of state subsidizing of leasing are considered, providing the borrower with even greater efficiency of its use. ...
Added: July 8, 2025
Непрерывное образование взрослого населения в России: вовлеченность, источники финансирования и основные эффекты от участия
Bondarenko N., М.: Институт статистических исследований и экономики знаний НИУ ВШЭ, 2018.
В информационном бюллетене представлены основные результаты мониторингового обследования взрослого городского и сельского населения России, проведенного Высшей школой экономики. В рамках данного исследования представлена динамика участия взрослого населения (от 25 до 64 лет включительно) в различных видах непрерывного образования (формального, неформального и самообразования), отмечены различия в активности участия различных социально-демографических групп населения, проанализированы основные источники финансирования ...
Added: April 28, 2025
Состояние и направления развития отечественного фармацевтического рынка в современных условиях
Gusev D., Parinov A., Семенихин В. А. et al., Вестник Академии знаний 2024 № 5(64) С. 570–575
The objective of the article is to assess the possibilities of strategic development of the domestic pharmaceutical industry in modern conditions, taking into account the critical dependence of the processes taking place in the industry on the success of innovative import substitution (the latter, in turn, largely depends on the accelerated and effective introduction of ...
Added: March 17, 2025
Города.РФ. Городская экономика для практиков
Ирина Абанкина, Abdullaev A., Андреева А. et al., М.: Просвещение, 2024.
Учебник охватывает ряд направлений городский экономики: развитие территорий, городской среды и коммунального хозяйства, общественного транспорта и здравоохранения, создание транспортной инфраструктуры и образовательной среды, стимулирование развития малого и среднего предпринимательства и сферы культуры. В издании содержится обзор теоретических оснований и практических инструментов развития городской экономики, приводится широкий спектр успешных практик российских городов. Многие из проектных решений ...
Added: March 13, 2025
Участие бизнеса и некоммерческих организаций в реализации Национальных проектов и повестке устойчивого развития (на примере Красноярского края)
Батаева Б. С., Киселева Н. И., Cheglakova L. M. et al., Общество и экономика 2024 № 12 С. 34–45
The methodological basis for the study of regional business entities’ participation in the ESG agenda and the implementation of national projects was the concept of sustainable development and resource theory. According to the results of a survey of 208 respondents from 144 organizations in the private and public sectors of the economy of  Krasnoyarsk Krai, large state-owned companies lag ...
Added: January 31, 2025
  • About
  • About
  • Key Figures & Facts
  • Sustainability at HSE University
  • Faculties & Departments
  • International Partnerships
  • Faculty & Staff
  • HSE Buildings
  • HSE University for Persons with Disabilities
  • Public Enquiries
  • Studies
  • Admissions
  • Programme Catalogue
  • Undergraduate
  • Graduate
  • Exchange Programmes
  • Summer University
  • Summer Schools
  • Semester in Moscow
  • Business Internship
  • Research
  • International Laboratories
  • Research Centres
  • Research Projects
  • Monitoring Studies
  • Conferences & Seminars
  • Academic Jobs
  • Yasin (April) International Academic Conference on Economic and Social Development
  • Media & Resources
  • Publications by staff
  • HSE Journals
  • Publishing House
  • iq.hse.ru: commentary by HSE experts
  • Library
  • Economic & Social Data Archive
  • Video
  • HSE Repository of Socio-Economic Information
  • HSE1993–2026
  • Contacts
  • Copyright
  • Privacy Policy
  • Site Map
Edit