Contents of N5/2019

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Contents of №5' 2019

CORPORATE  FINANCE

Improving the assessment of the economic efficiency of target programs for the development of the fisheries sector
Sergeev L.I., doctor of Economics, Professor, head of the Department of economic theory, Kaliningrad state technical University

Annotation. The methodological basis for assessing the effectiveness of state programs does not give a complete objective picture of the effectiveness of the use of public resources. The purpose of the study is to substantiate proposals for improving the evaluation of the effectiveness of the implementation of state programs. The article summarizes the problems of the methodological base of the Ministry of economic development and the Ministry of agriculture of Russia to assess the economic efficiency of the implementation of state programs, emphasizes its shortcomings. The proposals are based on the assessment of the comparability of public spending and the achievement of the target indicators of the state program. The estimation of efficiency on the basis of an index method of calculation of the planned and actual performance (achievement) of target indicative program indicators is offered. The results of the proposals are tested on the example of the implementation of the regional program for the development of the fishing industry of the Kaliningrad region for 2017.
Keywords: target program, economic efficiency, calculation.

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Financial management by pricing: the verified decisions
Chernov V.A., Dr. Econ.Sci., prof. of department of finance and credit of Institute of economy and business of Federal public autonomous educational institution of the higher education «National research N.I. Lobachevsky State University of Nizhni Novgorod»

Annotation. Now we observe incompleteness and lack of complexity in justification of the prices that leads to the incomplete unilateral decisions which are not promoting improvement of a financial condition of the organization.
Investigating parameters, conditions, indicators and methods of pricing, in article possibilities of their more complex integration allowing to estimate various factors, to calculate consequences of change of decisions in pricing on their end result in dialectic interrelation with the changing conditions are revealed.
The author makes additions to the existing pricing techniques which do decisions fuller, complete, proved and approved on settlement models at the changing parameters, in terms of change of demand, increase in sales, relative reducing costs, improvement of financial result, etc. Application of the offered methods is illustrated on examples.
Keywords: cost, expenses, elasticity, pricing, demand, offer, justification of the price, competitiveness, financial result, stability, profit.

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The operation of the financial development of the organization based on the new income structure of operating personnel
Trach D.M., candidate of the economic science, docent branch of the Transnistrian State University named T.G. Shevchenko, head of the department of management

Annotation. Market economy makes significant changes in the understanding of the role and responsibility of state institutions and economic entities in the development of socio-economic processes and their effectiveness. Despite the huge role of state institutions, the real sector of the economy is the main donor of state budget revenues. Its quality depends on the financial condition of economic entities, which in turn depends on the quality of financial management, the improvement of which in the face of uncertainty of the external environment is extremely important.
Keywords: market economy, delegation of authority, economic independence, financial management, budgeting, cost centers, responsibility centers, financial incentive Fund, economic entities, payment calendar, participation in the capital of the organization.

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INVESTMENTS AND BUSINESS

The effectiveness of financial support of state support of agriculture
Polyanin A.V., doctor of economic Sciences, Professor of management and public administration, Federal State Educational Institution of Higher Education «Russian Presidential Academy of National Economy and Public Administration», Middle management Institute – branch
Dolgova S.A., candidate of economic Sciences, associate Professor of management and public administration, Federal State Educational Institution of Higher Education «Russian Presidential Academy of National Economy and Public Administration», Middle management Institute – branch

Annotation. One of the most important tasks in the conditions of sanctions policy, to maintain food security of the country is to provide domestic agricultural producers with financial resources. Over the past few years, agriculture has received a serious impetus for development from the state in the form of financial support. In the near future, farmers will have to solve a number of tasks, from digital transformation and reduction of logistics losses to the search for new markets and expansion of export potential, in connection with which 2019 will be a transitional year for the industry in improving the system of state support, and from 2020 there will be significant changes that will significantly improve the efficiency of the implementation of the state Program and focus it on the priority goals of the agro-industrial complex.
Keywords: food security, concessional lending, single subsidy, financial support, embargo, trade balance of agricultural products, state support.

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Problems and ways to improve state financial support for small businesses
Shalaev I.A., Candidate of Economic Sciences, Associate Professor of the Department of Economics and Economic Security of the Federal State Budgetary Educational Institution of Higher Education «Central Russian Institute of Management – Branch of RANEPA»
Zaitseva A.P., student of the Federal State Budgetary Educational Institution of Higher Education «Central Russian Institute of Management – Branch of the RANEPA»

Annotation. Currently, small business has a significant impact on the development of the economy of any country. This article examines the importance of state financial support in the development of small business, problems of state financial incentives, analyzes the activities of small businesses, and also discusses ways to improve state financial support for small businesses.
Keywords: small business, small business, state financial support, stimulation.

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8.  Shalaev I.A. Analiz vnedreniya innovacionnyh tekhnologij v gosudarstvennom upravlenii / I.A. Shalaev, A.P. Zajceva, E.R. Lunina // Menedzhment i marketing: teoriya i praktika. – 2018. – S. 603–638.
9. Pesterev S.V. Cubsidii na otkrytie malogo biznesa v 2018 godu / S.V. Pesterev, Yu.A. Kiryakova // Alleya nauki. – 2018. – T. 3. – № 7 (23). – S. 695–697.
10. Pen’kova K.V. Statistika kreditovaniya malogo i srednego biznesa v Rossii / K.V. Pen’kova, V.A. Timohina // V sb.: Vestnik kafedry statistiki Rossijskogo ehkonomicheskogo universiteta imeni G.V. Plekhanova: materialy i doklady / pod obshch. red. N.A. Sadovnikovoj. – 2017. – S. 331–333.

Options of the ratio of labor productivity growth to average wages
Abrutina M.S., kandidat econom. Nauk, weteran truda

Annotation. In the article there are three variants of this ratio, formed in accordance with the requirements of the SNA methodology (System of National Accounts). Currently, only one out of three options is being popularized by leading economists, which is characterized by an increase in labor productivity over wage growth, which is likely to ensure the growth of the economy as a whole, an increase in the profitability of production, and then the growth of workers’ incomes.
In the proposed article it is proved that this popular variant really and immediately provides the greatest growth of gross margin, which is carefully concealed by its adherents. Wages, at the same time, are reduced at first relatively, and then absolutely. The second variant, out of three possible ones, differs in the equality of growth rates of the produced income, wages, and gross profit. It is good under the conditions of balance achieved and its maintenance, between the interests of the state, business and working masses. The third option of the ratio of growth rates can be beneficial in case of aggravation of problems in the welfare of workers, as it immediately prefers the rate of wage growth. The alternation of the above options and the duration of each of them form the core of economic policy from the enterprise to the country as a whole.
Keywords: value added (VA), profit, market prices.

References
1. Sistema natsionalnykh schetov 1993, tom 1, tom 2. SNS 2008, Evrostat, Mezhdunarodnyi valiutnyi fond, Organizatsiia ekonomicheskogo sotrudnichestva i razvitiia, Organizatsiia Obieedinennykh Natsii, Vsemirnyi bank / per. na russk. iaz.; biuro perevodov Mezhdunarodnogo valiutnogo fonda. – Niu-Iork, 2012.
2.  Riabushkin B.T. Natsionalnye scheta i ekonomicheskie balansy: praktikum. – М.: Finansy i statistika, 1999.
3. Statisticheskii slovar / glav. red. Iu.A. Iurkov. – M.: Finstatinform, 1996.
4. Kurs sotsialno-ekonomicheskoi statistiki / pod red. M.G. Nazarova. – М.: Finstatinform, 2000.

International and regional trends and problems of financing innovations and their transfer to small business
Тuychiyev A.G., Manager of department for Innovation and scientific-pedagogical staff of the Republican graduate school of Business and management under the name Abu Rayhan Beruniy at the National Agency Project Management under the President of the Republic of Uzbekistan

Annotation. In this article are described international and regional tendencies of financing and transfer, the role of innovations in the development activity of the regional small business, as well as examples on the activation of innovations of countries that have achieved significant success in innovative development in recent years. The use of innovative technologies and their commercialization stimulate the need to improve the efficiency of the use of research results, as well as improve the use of available resources. First, the transfer of innovation to small businesses determines the use of cost-effective investment methods in the business sector, and, secondly, the proper deployment and productive use of production capacity, and, third, the development of science and technology and the development of the entire economy.
Keywords:  innovations, regional business, innovations transfer, financing, commercialization, innovation transfer, business sector, production capacity.

References
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6. Тuychiyev A.G. Intervyu v texnologicheskom sentre Dortmund. – Dortmund: Texnicheskii Universitet, 2012 g.
7. Shohazamiy Sh.Sh. Sistemnii finansovii injiniring. – Таshkent: Nauka i texnologii, 2012. – 796 s.
8. Pusankov D.V., Vahabov А.V., Кutuzov V.М., Мuravyov А.V., SHestapalov М.Yu., Rijovov N.G., Теrenteyeva I.S., Shohazamiy Sh.Sh. Моdeli upravleniya nauchno-innovatsionnoy deyatelnostyu vuzov: mоnografiya. – Таshkent: Ekonomika-Finansi, 2006. – 242 s.

 

CONTROL BY THE FINANCE OF BANKS AND INSURANCE COMPANIES

Strategic analysis of the development of the insurance business in the Russian Federation
Kazakova N.A., Doctor of Economic Science, Professor, Head of the Center for financial studies, Professor of Basic Department of Financial and Economic Security, Plekhanov Russian University of Economics, Moscow, Russia
Druzhinina A.I., Master of Economics, insurance payments specialist, Capital Life Insurance Life LLC

Annotation. The article presents the results of a strategic analysis of the insurance business in the Russian Federation. The authors used various scientific approaches developed by Russian and foreign scientists in relation to the insurance business, including a SWOT-analysis supplemented with a correlation analysis, which allowed not only to identify the strengths and weaknesses of the insurance business, its potential opportunities and threats, but also to shape them weighted estimate, taking into account the influence of the most significant factors.
Keywords: strategic analysis, insurance business, competitiveness, key success factors.

References
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8.  Labusheva Ya.G.  Otsenka riskov strakhovoy kompanii dlya prinyatiya upravlencheskikh resheniy // Vestnik ekonomiki, prava i sotsiologii. – 2015. – № 2. – S. 50–53.
9. Bolvachev A.I., Shemetkova O.L., Luk'yanov A.V., Kazakova N.A. Sovershenstvovanie metodov upravleniya riskami v sisteme finansovoy bezopasnosti kommercheskikh bankov // Finansovyy menedzhment. – 2018. – № 3. – S. 88–100.
10. Porter M. (1999) Wettbewerbsvorteile: Spitzenleistungen erreichen und behaupten, Frankfurt. – P. 69.
11.  Xia Z., Xiuzhi Z. (2011). Strategic Analysis of Synergistic Effect on M&A of Volvo Car Corporation by Geely Automobile // I-Business. – Vol. 3. – No. 1. – Pp. 5–15.
12. Druzhinina A.I. Analiz riskov pri razrabotke i realizatsii investitsionnoy strategii strakhovoy kompanii. V sb.: Ot nauchnykh idey k strategii biznes-razvitiya: sb. statey-prezentatsiy nauchno-issledovatel’skikh rabot studentov, magistrov, aspirantov, molodykh uchenykh – uchastnikov Mezhdunarodnoy mezhvuzovskoy studencheskoy konferentsii. 2018. – S. 133–144.

 

FINANCIAL MARKET

Digital competence: do they have a specialist financial market2
Borisova O.V., Candidate of Economics, Associate Professor Financial University under the Government of the Russian Federation

The article was prepared based on the results of research carried out at the expense of budget funds according to the state task of the Financial University under the Government of the Russian Federation in 2019 y.

Annotation. The work examines digital competencies that are currently required for employees to work in financial markets. The study shows that modern GEF VO does not contain digital competencies, the available research in the field of digital competencies is of a general nature and does not reflect the specifics of the industry. As a result, lists of key, general basic and special basic competencies for financial market specialists were proposed, as well as a mechanism allowing them to be mastered in the shortest possible time.
Keywords: competence, digital competences, competencies of a financial market specialist, finteh.

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Theory and methodology of the functioning of the decentralized money system
Sizova D.A., PhD in Economics, Associate professor, Associate professor of the Department of Economic Analysis and Corporate Governance of Production and Export of High-Tech Products of the State Corporation «RusTech» Plekhanov Russian University of Economics, Moscow
Sizova T.V., PhD in Economics, Associate professor, Associate professor of the Department «Financial management» Plekhanov Russian University of Economics, Moscow
Soltakhanov A.U., PhD in Economics, Associate professor, Associate professor of the Department «Financial management» Plekhanov Russian University of Economics, Moscow

Annotation. The article considers the prerequisites for the necessity of decentralization of the monetary system (on the example of the monetary system of the Russian Federation). Graphical analysis of the money supply of the Russian Federation, including a structure confirming the essential importance of money in the national economy, is presented. A range of possible options for solving the issues of decentralization of the monetary system of the Russian Federation, determined by the tendencies of the development of the digital economy and decentralized electronic money systems, is outlined.
Keywords:  monetary policy, decentralized monetary system, regulation, centralized monetary system, central bank.

References
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2.  Dubyanskij A.N. Mestnye valyuty kak sposob decentralizacii denezhnogo obrashcheniya // Vestnik SPbGU. Ekonomika. – 2017. – T. 33. – Vyp. 1. – S. 104–118.
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Optimization of formation, distribution and use of money resources of financial sector countries
Abdullayev A.Y., DSc., professor of Jizzakh Polytechnic institute, Uzbekistan

Annotation. The purpose of the article: to investigate the complexity of existing approaches to optimizing development, allocate and use financial resources of the financial sector, choose priority areas of high-quality monetary funds, justify the need to improve this process and determine the effectiveness of special working regimes for financial activity. The methods of economic-statistical and economic-mathematical analysis of the results of the functioning and development of the financial sector were used. Methods of empirical analysis of sources on this topic were also used. Based on the results of the study, appropriate forward-looking recommendations and suggestions for decision makers were prepared. The author comes to the conclusion that the article summarizes the standard conditions for the circulation of funds and
the peculiarities of the movement of reproductive groups, taking into account quantitative and qualitative characteristics.
Keywords: trend, component, aspect, sector, turnover, source, forecast, experiment.

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