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MAIN PAGE > Journal "Finance and Management" > Contents of Issue № 04/2021
Contents of Issue № 04/2021
Economic control and management
Zarutskaya V.S., Orekhova S.V. - Corporate networking management based on the cost approach pp. 1-20


Abstract: The COVID-19 pandemic caused a significant drop in the tourism sector. Precarious existence of the tourism agencies can be based on the development of the corporate business network managed by the formation of the key network resource – social capital. This research is aimed at the development and testing of the original toolset for the assessment of social capital and creation of the universal model of corporate networking management based on it. The subject of this article is the social capital of a company. The object is the operating tourism agency of Sverdlovsk Region “Mellow Season” LLC. The information framework is comprised of the corporate financial data for the period from 2014 to 2020. The expediency of implementation of cost approach on the level of individual companies is determined. The algorithm of corporate networking management based on the analysis of sustainable business ties portfolio is offered and tested. The author establishes that the company practices one-time and repeated transactions mainly with non-specific assets; specific assets are used only in transactions with the customers. Typical precontractual costs are the costs for searching information, negotiating, and concluding the contract. Typical postcontractual costs are the costs for monitoring and enforcing the counteragents to discharge their obligations. The author analyzes the information on the components of the social capital. Sustainable business tie was identified with 12 suppliers, 28 tourism agencies, and 158 customers. The analysis of behavioral practices of tourism agencies and expert assessments establishes the efficiency standards of transaction costs. It is also determined that the cost savings from the use of social capital for the company under reviews amount to 46.8% of their volume without its use. The recommendation is made to maintain the existing network of sustainable business ties; use the accumulated trust in sustainable business ties with the customers to expand the client base; shift priorities from the transactions made due to the established mechanism of business procedures towards seeking for new opportunities on the market. The author develops the universal model of corporate networking management.
Innovations, innovative activities
Mitrovic S., Suits V.P. - Capabilities of business intelligence for improving the efficiency of economic analysis in stressful economic conditions caused by pandemic pp. 21-37


Abstract: From the perspective of economic analysis, the phenomenon of business intelligence (BI), which is the main subject of this research, is described as a version of artificial intelligence oriented towards comprehensive analysis of high data volume and its transformation into applied knowledge on the economic activity of organizations. Emphasis is placed on the feasibility and peculiarity of implementation of business intelligence systems in stressful economic conditions caused by pandemic on the global and national scale. The empirical part of research lies in the development and testing of the intelligent solution in the area of information and analytical support for economic analysis. The acquired conclusions prove that the current situation on the global economic market promotes further development of methodology for implementing information technologies, and business intelligence in particular, in the economic analysis of business activity. In order to meet the specific needs of end-users of business intelligence systems, was developed the tool for calculating the economic efficiency of medical insurance for health improvement of the personnel. It is substantiate that innovative BI- technologies help to integrate and successfully apply the solutions of business analysis at any level of corporate management. The authors outline the leading parameters of the ideal version of business intelligence, as well as justify that the use of business intelligence systems in the area of information support for economic analysis gives a multiplicative effect: - contributes to the improvement of economic analysis, efficiency of implementation and accuracy of data; - ensures the effectiveness of economic analysis for achieving  best result with relatively low cost and maximum utilization time; - provides acceptable relevance of the data that underlie the management decisions, leaving out subjectivism.
Question at hand
Salnikov K.E. - Reduction of construction time as a result of increase of labor efficiency pp. 38-49


Abstract: The subject of this research is the regulatory relations arising in the context of reduction of construction time as a branch of material production, which carries out the erection and reconstruction of buildings and structures of various designation. The object of this research is the construction sector overall; enterprises of different forms of property that functions in the investment and construction sector; organizational-legal forms of interaction between the actors of investment and construction process; state regulation in the sphere of capital construction. The goal of this work lies in solution of the key problems of regulating the construction terms: estimation of time and allocation of resources. The author examines the contractual models for the implementation of investment projects; factors that improve efficiency; technical and technological factors; organizational and economic factors; classification of construction works; role of general labor in modern industrial sectors; reduction of construction time; optimization of organizational issues; modern contact models; traditional model of organizing organization (M-1); EPC-contract model (M-2) ; construction based on EPC(M)- contract (M-3); factors that contribute to reduction of construction time due to the use of contractual models. Special attention is given to the causes and reserves for reduction of construction time in the instance of using various contractual models. The scientific novelty is determined by lack of knowledge on the questions of improvement, theoretical, experimental and technical-economic substantiation of technological processes, methods and forms of organizing construction and its production capacities with regards to reduction of construction time. The importance of this work for the national economy consists in studying the theory and practice of reducing construction time and finding solutions to scientific and technical problems of construction via development and creation of competitive construction technologies and organizational-technological solutions, which would intensity the processes of erection, reconstruction and modernization of buildings while reducing labor, material-technical, fuel and energy resources.
Popova E.M., Nikitina T.V. - Financial literacy in the digital era: new opportunities and challenges pp. 50-67


Abstract: Increase of access to financial services (financial inclusion) and overcoming the new digital gap are the priority task of the national governments, which entails the development of state programs and implementation of various initiatives The subject of this research is the financial literacy and instruments for its improvement in the conditions of new digital reality. The question is raised on the need for reconsideration of the financial literacy in the digital context, and implementation of the more extensive multidimensional approach towards its definition. The authors present the results of scientific research conducted in different countries, which prove that financial and digital literacy are the key determinants of financial inclusion. The analysis of foreign practice of introducing the programs aimed at the improvement of financial literacy of the population leads to a number of practically valuable conclusions, namely high potential and effectiveness of the projects that use interactive technologies. The scientific novelty lies in formulation of recommendations that would contribute to more effective implementation of the programs intended for improving financial literacy of the population: targeted programs for improving financial literacy adapted to the needs and level of knowledge of a specific target audience; interactive content that develops both, financial and digital literacy in the context of using financial products. Special attention is given to the formation of competencies for secure use of digital financial products, information awareness of the participants of the programs on the fraudulent schemes. The increase of financial literacy is considered as an indirect financial protection of the consumers.
Financial planning and forecasting
Vlasova Y.A., Gerzelieva Z.I., Rogova T.M. - The peculiarities of development of consumer lending in the conditions of pandemic on the example of ZENITH Bank pp. 68-82


Abstract: The consumer segment of the credit services market is undergoing complex transformations due to systemic changes in the economic space caused by the pandemic. The subject of this research development trends in the market of consumer lending in the conditions of pandemic. The object is the credit services market in the context of digitalization. The article explores the peculiarities of development of the segment of consumer lending in depository institutions. Research methodology employs the method of statistical analysis and forecasting the development of trends in the area under study. The source information includes the official statistics on the dynamics of financial sector of the Central Bank of the Russian Federation, available analytical sources and reports of ZENITH Bank. The main results lies in outlining the current trends in the development of consumer lending in the conditions of digitalization due to the pandemic. The author examines the ratio of the credit portfolio of the leading banks to the level of overdue debt, the structure of retail lending in the scope of credit portfolio, types and specificity of consumer lending products. Recommendations are formulated for stabilization of operating results of the commercial banks. Practical significance of the acquired results lies in revealing the impact of the ongoing changes upon the activity of depository institutions, attending risks, and vectors of the development of banking sector under the current conditions. The novelty consists in studying the experience of operation of medium-sized bank in crisis period, as well as in outlining the directions for improving its reliability and profitability.
Innovations, innovative activities
Baev S.A. - Theoretical grounds of the development of innovation infrastructure pp. 83-98


Abstract: The object of this research is the innovation infrastructure. The subject is the key theoretical approaches towards comprehension of innovation infrastructure, subsystems of innovation infrastructure, role of the state in formation and development of innovation infrastructure, as well as problems of institutionalization of innovation environment in the Russian Federation at the current stage. The scientific novelty of this article is reflected in the following aspects: formulation of the original definition of innovation infrastructure on the basis of systematization of theoretical approaches towards interpretation of innovation infrastructure in Russian science; development of the original approach towards classification of subsystems of innovation infrastructure; proposal of the methods for eliminating the flaws inherent to institutionalization of innovations in Russia at the present stage. The main conclusions lie in the following statements: 1) the term “innovation infrastructure” should be defined as “a set of interrelated organizations and institutions aimed at ensuring the implementation of innovation projects”; 2) innovation infrastructure consists of the five subsystems, two of which (production-technological and financial) are central, and three are (information-consulting, human resource, and sales) are supporting; 3) strong coordination of all subsystems of innovation infrastructure in modern Russia requires adhering to cluster arrangement of innovation infrastructure. The concentration of all enterprises in a single space would allow maximizing their efficiency, as well as reducing the costs. Clusters can be formed in accordance with one of the models that are actively used in the developed countries, such as science and technology parks and technopolises.
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