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Economics and Management

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Vol 28, No 5 (2022)
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MODERNIZATION OF THE REGIONAL ECONOMICS

419-429 222
Abstract

Aim. The work aimed to assess the regional potential of the scientific and technological development of the national economy, as well as to identify industrial territories with a hereditary predisposition to innovative activity.

Tasks. The work was performed to determine factors influencing the innovative activity of industrial territories, to develop the methods for formalizing and evaluating the efficiency of the regional potential of scientific and technological development of industrial regions, to evaluate the methods and identify the industrial regions with a predisposition to further innovative development of the economy.

Methods. The author applied the Frobenius norms which enable to integrate the indices of innovative activity of enterprises, population, and authorities into one complex indicator over a long time interval. The methodology special aspect consists in the synthesis of index and matrix methods for formalizing the regional potential of scientific and technological development, which enables to model the expansion trend of innovative activity of an industrial territory in the multidimensional space of its economic relations.

Results. Approbation of the author’s developments on the example of industrial regions enabled to classify the territories according to the criteria of “possessing a predisposition to innovative activity”; “having a latent potential of scientific and technological development”; “having problems in managing the potential of scientific and technological development”; “receiving innovation effects less than due”. In addition, the points of generation of innovations are identified.

Conclusions. Inherited programs for the development of such regions as the Chuvash Republic, the city of Moscow, as well as Nizhny Novgorod, Sverdlovsk, Tomsk, Yaroslavl, and Omsk regions, Perm Territory, Udmurt Republic, comprise innovations. At the same time, innovative solutions and economic returns from them are continuously accumulated in the current technological mode of economic development. This fact must be taken into account when solving regional problems of individualization of strategies for choosing and implementing the priorities of scientific and technological development of the national economy.

430-438 410
Abstract

Aim. The presented study aims to structure strategic planning documents at the global and national levels in the context of human development and to identify strategic priorities for human development.
Tasks. The authors investigate the development of human potential in Soviet and modern Russia; systematize strategic planning documents adopted at the global and national level; examine global and national development goals and human development indices of several countries,
including Russia.
Methods. This study uses general scientific methods of cognition to consider strategic approaches to human potential development in various aspects. The study also uses the strategizing methodology developed by foreign member of the Russian Academy of Sciences (RAS), PhD in Economics, Professor V.L. Kvint.
Results. The share of human potential in the capital structure is determined. The highest human development index is observed in the Scandinavian countries, the USA, Japan, several developed countries of Western Europe, and the CIS. The development of human potential in Soviet and modern Russia is investigated. Differences in the application of the human potential index for Russian regions are identified. The need for the interconnection of programs at the international and national levels is established when preparing documents. The importance of human potential forecasting in the development of strategic documents at the regional level is emphasized. The people and the population’s quality of life are the most important factors in making any management decision.
Conclusions. Creating the necessary infrastructure for the development of human potential will boost the economic growth of any region. When developing programs and plans for each Russian region, it seems appropriate to be guided by the mission, vision, goals, and objectives that make allowance for existing resources, including human potential.

DIGITAL ECONOMICS

439-451 779
Abstract

Aim. The work aimed to develop a quantitative model for assessing the digital maturity of an industrial enterprise.
Tasks. The work was performed to define the concept of digital maturity of an industrial enterprise; systematize existing approaches to assessing the digital maturity of an industrial enterprise; conduct a critical analysis of existing approaches in terms of taking into account the requirements of the TOGAF corporate architecture levels, the requirements for the reliability of the assessment results; and propose a quantitative model for assessing the digital maturity of an industrial enterprise.
Methods. The research tools used in this article include methods of system analysis and synthesis, methods of economic analysis for systematization of existing approaches to assessing the degree of digital maturity of an industrial enterprise, as well as methods of mathematical statistics, econometric analysis for developing a multivariate regression model for assessing the digital maturity of an industrial enterprise taking into account the requirements of the process approach.
Results. A classification of models for assessing digital maturity is proposed, which is used to highlight the main approaches to the latter and consider the fields of enterprise activity to assess the level of its digital maturity, assessment scales, methods used in the assessment, and the scope of the models application, as well as the applicability of such models to a comprehensive assessment by levels of the enterprise architecture. A multifactorial regression model for assessing the digital maturity of an enterprise has been developed, which enables to assess the degree of influence of each direction of this assessment on the digital maturity of an enterprise and give recommendations for managing digital maturity, which can be used in the formation of an enterprise digital transformation strategy.
Conclusions. The systematization of approaches to assessing the digital maturity of industrial enterprises revealed that the models currently used are mainly based on expert assessments, which leads to subjectivity. These models use nominal and ordinal scales, which makes it difficult to apply the apparatus of econometric analysis. The models described do not take into account the ratio of variables that determine the digital maturity of an enterprise and the levels of its architecture according to the TOGAF method, which results in a “patchwork” nature of considering the business processes of an industrial enterprise and, as a result, the lack of a comprehensive assessment of digital maturity. According to the authors, the incompleteness and subjectivity of the existing evaluation models, as well as the need for their modernization, are obvious. The authors propose a model for assessing the digital maturity of an industrial enterprise, which enables to solve the above problems. The coefficient of determination of the constructed model (R2 = 0.845) indicates that the share of the total scatter relative to the sample average of the integral indicator of digital maturity assessment is 84.5% explained by the constructed regression model. The multiple correlation coefficient (Multiple R = 0.919) indicates the strength of the relationship between the resulting and independent variables. The value of the Fisher criterion (F = 102) indicates the high significance of the constructed multivariate regression model. According to the calculation results, the significant standardized coefficients of the regression equation include Х1 beta, Х3 beta, Х4 beta, Х5 beta, therefore we can conclude that the variation of Х i has the strongest influence on the variation of the resulting attribute Y, when abstracted from the concomitant influence of variations of other factors included in the equation regression.

452-461 395
Abstract

Aim. The work aimed to analyze the aspects of digitalization of business processes of small business.

Tasks. The work was performed to determine trends in the digitalization of business processes in Russia and in international countries; to analyze the dynamics of online sales on marketplaces; to analyze the Russian practice of digitalization of business processes of small business.

Methods. Theoretical analysis of the literature, expert opinions, comparative analysis, and analysis of statistical data were applied.

Results. The opinions of Russian and international researchers and experts on the trends in the digitalization of business processes of small business were analyzed. The conclusion was made about the high rates of development of this process in Russia and in the world. The topical problems of digitalization of business processes of small businesses, as well as the competitive advantages gained from interaction with marketplaces, were analyzed.

Conclusions. According to the author, unlike international countries, the digitalization of business processes of small business in Russia is spontaneous, and the state does not participate enough in this. According to the author, the main way to digitalize business processes of small businesses is its operation through an ecosystem of marketplaces under conditions of payment the commission fees. In international countries, the diversification of technologies in digital ecosystems intensifies competition, and promotes the digital migration of small businesses.

BUSINESS MANAGEMENT

462-470 397
Abstract

Aim. The work aimed to develop recommendations for conducting the customs monitoring in the system of interaction between customs authorities and participants of international economic activity (IEA) based on the modeling of customs monitoring.

Tasks. The work was performed to analyze the main characteristics of customs monitoring, as well as create and propose a model for its implementation, and to determine the conditions based on it for the effective implementation of customs monitoring.

Methods. The authors applied general scientific methods (analysis, synthesis, comparison) and special scientific methods (legal analysis, business process modeling using IDEF0 and BPMN notations).

Results. Based on modeling of the customs monitoring business process, the conditions required for its effective application in the activities of the customs authorities of the Russian Federation (RF) were determined.

Conclusions. Recommendations were formulated for the development of customs monitoring in Russia, namely its establishment as a measure that ensures the conduct of customs control; formation of a list of indicators for the implementation of customs monitoring and risk assessment rules; application of information systems to ensure the process of customs monitoring.

FINANCES AND CREDIT

471-478 263
Abstract

Aim. The work aimed to reveal the relationship between the structure of capital and the performance efficiency of corporations.

Tasks. The work was performed to generalize and systematize approaches to determining the content of the capital structure of corporations; as well as substantiate the relationship between the structure of capital and the performance efficiency of corporations.

Methods. The author, using general scientific methods (analysis, synthesis, generalization), studied the results of empirical studies aimed at assessing the relationship between the capital structure and the performance efficiency of corporations.

Results. It was concluded that under conditions close to reality, decisions on the choice of sources of financing and the establishment of a proportion between them have a significant impact on the performance efficiency of corporations. The direction, strength, and form of relationship depend on the chosen approach to determining the content of the capital structure and the characteristics of efficiency used in the study.

Conclusions. The process of formation and management of the capital structure is an integral part of the financial management system. The level of financial stability of the corporation depends on the competence extent the sources of financing are chosen and the capital structure is formed. By regulating the capital structure, management team has the opportunity to increase the financial efficiency of the corporation, including the profitability of operations and investment activity.

EDUCATION

479-490 179
Abstract

Aim. By analyzing current trends in the development of youth educational tourism services, the presented study aims to identify the specific aspects of managing the development of youth educational tourism services in the context of training staff for the tourism industry.

Tasks. The authors identify current trends in managing the development of youth educational tourism services in the context of training staff for the tourism industry; consider a management model for the development of youth educational tourism services in the context of training staff for the tourism industry at the level of St. Petersburg; substantiate the conditions for its effective application.

Methods. This study uses general scientific methods of cognition to investigate trends in managing the development of youth educational tourism services in the context of training staff for the tourism industry and to examine a management model for the development of youth educational tourism services in the context of training staff for the tourism industry at the level of St. Petersburg and the conditions for its effective application.

Results. The following trends in managing the development of youth educational tourism services in the context of training staff for the tourism industry are observed: increasing the importance of youth educational tourism as a key factor in the sustainable development of domestic tourism; dynamic professional development of tourism industry staff and targeted training at the request of enterprises, including new vocational education for the unemployed youth; boosting the recognizability of the products of youth educational tourism services; strengthening the role of volunteer communities, including the involvement of the professional youth.

Conclusions. The study establishes that the specific aspects of managing the development of youth educational tourism services at the level of St. Petersburg include: a support system for the professional development of young staff in the tourism industry, which is being developed in collaboration with Russian regions; a coordinating and controlling body acting as a center for determining the strategy for the development of youth educational tourism services; monitoring of the system’s performance based on criterion scores; management of risk factors to guarantee consumer safety.

SCIENTIFIC RESEARCH OF YOUNG SCIENTISTS

491-501 250
Abstract

Aim. The work aimed to form a classification of methods for assessing the financial sustainability of higher education institutions applicable to state (municipal) institutions.

Tasks. The work was performed to demonstrate the historical development of methods for assessing the financial sustainability of the organizations under consideration; present the main classifications of these methods, and identify their disadvantages; to characterize the methods for assessing financial sustainability, which can be used by an educational institution of higher education.

Methods. For the formation of classifications of methods for assessing financial sustainability, scientific and practical materials of Russian and international researchers and other interested parties (representatives of execution authority, consulting organizations) were used. General scientific research methods are applied, as well as correlation analysis for the purpose of comparative analysis of methods for assessing the financial sustainability of higher education organizations.

Results. The technique for assessing financial sustainability has been developed for almost a century. The classifications of this technique formed by various researchers are universal and do not take into account the industry factor, as well as the organizational and legal form, which makes it difficult to use them in relation to certain organizations. As a result, the development of this methodology for the educational organization of higher education is required. The article proposes the author’s classification of methods for assessing the financial sustainability of such an organization, applicable to state (municipal) institutions. Based on the data of 48 higher education institutions with the organizational and legal form of a state institution, a correlation analysis was performed in order to determine the relationship between the methods used to assess financial sustainability, as well as the correctness of the classification created by the author.

Conclusions. Methods for assessing the financial sustainability of higher education institutions can be divided according to the number of variables used; the nature of the data required for this assessment; incorporation into larger evaluation techniques. The criteria listed are taken into account in the author’s three-level classification of methods for assessing the financial stability of an educational institution of higher education. The correlation analysis revealed a weak relationship between the evaluation methods included in different groups.

502-510 485
Abstract

Aim. The work aimed to describe the impact of modern conditions of social development, primarily digitalization trends and the COVID-19 pandemic, on the essence of stakeholder conflicts of interest in corporate management, as well as the consequences arising from this.

Tasks. The work was performed to define the term “stakeholder”, classify key stakeholders in the context of the impact of a conflict of interest on corporate management.

Methods. The author used general methods of scientific knowledge, identified trends in digitalization and the COVID-19 pandemic under conditions of change in the content of stakeholder conflicts of interest in corporate management.

Results. The process of increase in the role of external stakeholders in the reality of contemporary times, as well as the prerequisites for the emergence of a conflict of interests of stakeholders and ways to resolve them in modern conditions, were characterized. The ways to manage the conflict of interests of the corporation stakeholders and the impact of such conflicts on the efficiency of corporate management were analyzed.

Conclusions. It has been established that the stronger the coronavirus pandemic impact on conducting business, the more often corporate conflicts take place, the more cases of conflict of interest of corporation stakeholders occur, and, as a result, the choice of ways to resolve them is predetermined. In addition, the active transition to digitalization strengthens the role and influence of external stakeholders, especially regulatory authorities and the public, on corporate management in general and in the context of conflict situations in particular.

511-518 311
Abstract

Aim. The work aimed to systematize and assess the impact of economic instability on private financial risks of retail industry corporations, to identify tools for managing financial risks of retail industry corporations under conditions of economic instability.

Tasks. The work was performed to determine the impact of external economic instability, including through external sanctions pressure, on uncertainty and private financial risks; to systematize financial risk management tools of the retail industry under conditions of economic instability.

Methods. The methodological basis of the research is the general scientific methods of research, namely analysis, synthesis, comparison, and modeling. The theoretical foundations of the study are the scientific works of scientists of Russia and other countries.

Results. The financial risks of retail industry corporations are systematized, as well as their additional financial risks arising under conditions of increased volatility of market conditions, economic instability, and external sanctions pressure are identified. The tools for managing financial risks of corporations in the retail industry are analyzed and systematized, directions for the use of derivatives to reduce the risks of loss of financial stability under conditions of economic instability are determined, and the risks of their practical application for these purposes are formalized.

Conclusions. Under conditions of external economic instability, in particular with external sanctions pressure, retail industry corporations are facing an increase in private financial risks. The tools proposed in this article enable to manage the process of reducing the impact of corporate financial risks on the financial stability and risks of corporate bankruptcy.



ISSN 1998-1627 (Print)