Abstract

Subject / Topic Import substitution is an important strategic direction of modern agricultural policy in Russia. The article is devoted to the study of existing credit mechanism in agriculture in the context of stimulation of import substitution.

Goals / Objectives The purpose of the study is to assess the current financial and credit mechanism in agriculture together with the development of proposals for its improvement in the context of stimulation of import substitution.

Methodology In this study a systematic approach and scientific methods of cognition (induction and deduction, analysis and synthesis) were applied.

Conclusions and Relevance  On the basis of the study the conclusion was made, that the solution of the problem of import substitution in agriculture requires the upgrade of existing financial credit mechanism. This upgrade should be realized by strengthening of its stimulating function through the development of preferential crediting and implementation of target investment incentives for the producers of domestic products, compatitive to foreign analogues, purchase and implementation of new technologies, budget support to enterprises, engaged in the processing and sale of products manufactured from domestic raw materials, and improvement of agricultural insurance.

Keywords: financial credit mechanism, import substitution, budget subsidies, loans, taxation, agricultural insurance

JEL: O13, Q18

References:

1. Miloserdov, Borhunov, Rodionova O. (2015). – Meloserdov V., Borkhunov N., Rodionova O. Import Substitution, food independence and agricultural policy [Importozameschenie, prodovolstvennaya nezavisimost i agrarnaya politika] // APC: economy, management [APK: ekonomika upravlenie.]. 2015. # 3. P. 3-24. [in Russian]
2. Golubev (2016) – Golubev A.V. Import Substitution and the effectiveness of the agroindustrial complex: monograph. [Importozameschenie i effektivnost APK: monografiya] – M.: Publishing house of Russian state agrarian University-MTAA [Izdatelstvo RGAU-MSHA], 2016. 167 p. [in Russian]
3. Lipkovich (2016) – Lipkovich E. Import Substitution and modernization of agriculture [Importozameschenie i modernizatsiya APK] // AIC: economy, management [APK: ekonomika upravlenie]. 2016. # 8. P. 4-19[in Russian]
4. Altuhov (2016) – Altukhov A. Accelerated import substitution in agriculture requires adequate investment [Uskorennoe importozameschenie v APK trebuet adekvatnogo investirovaniya] // Economist [Ekonomist]. 2016. #6. P. 11-24
5. Ushachev (2016) – Ushachev I. Scientific problems of import substitution and formation of the export potential of agricultural products in Russia [Nauchnyie problemyi importozamescheniya i formirovaniya eksportnogo potentsiala produktsii agropromyishlennogo kompleksa Rossii] // AIC: economy, management [APK: ekonomika upravlenie]. 2016. #1. P. 4-22 [in Russian]
6. Maslova (2015) – Maslova V. Peculiarities of financial and credit mechanism in agriculture on the modern stage [Osobennosti finansovo-kreditnogo mehanizma v APK na sovremennom etape] // AIC: economy, management [APK: ekonomika upravlenie]. 2015. # 10. P. 57-66 [in Russian]
7. Ushachev, Serkov, Maslova, Chekalin (2016) – Ushachev I., Serkov A., Maslova V., Chekalin V. Growth and development of agricultural production requires an integrated approach [Rostu i razvitiyu agropromyishlennogo proizvodstva neobhodim kompleksnyiy podhod] // AIC: economy, management [APK: ekonomika upravlenie]. 2016. # 4. S. 4-15 [in Russian]
8. Semenova, Krutov 2013 – Semenovа N.N., Krutova I.N. Project financing as an essential principle of the modification and development of financial system of food security [Proektnoe finansirovanie – vazhnejshij princip modifikacii i razvitija sistemy finansovogo obespechenija prodovol’stvennoj bezopasnosti]// Finance and credit [Finansy i kredit]. 2013. #33. P. 41-50[in Russian]
9. Zaruk (2016) – Zaruk N. F. Peculiarities of taxation of small business in Russian agriculture [Osobennosti nalogooblozheniya malogo biznesa v selskom hozyaystve Rossii]// AIC: economy, management [APK: ekonomika upravlenie]. 2016. # 5. P. 45-50 [in Russian]
10. Pinskaya (2015) – Pinsky M. R. Fiscal instruments for the institutionalization of import substitution in agriculture [Nalogovyie instrumentyi institutsionalizatsii importozamescheniya v selskom hozyaystve] // Journal of Financial [Finansovyiy zhurnal]. 2015. # 5. P. 72-79 [in Russian]

Annotation

Subject / Topic The subject of the study is the analysis of the innovative development and innovation potential of particalar countries. The authors have examined the innovative development of such countries as the US, Israel, South Korea, Singapore, Hong Kong, Taiwan, India.

Goals / Objectives To study the innovative potential of various countries in order to identify the factors of economic growth and competitiveness. All countries are completely different and unlike each other, therefore their development is also different.

Methodology The methodology of the study consists of the identification of the characteristics of the countries in the field of innovation activity. Innovation activity is one of the main factors of economic growth, contributing to the improvement and strengthening of competitiveness.

Conclusions and Relevance Innovative development and innovative potential in each country is of great importance. In the US innovative development has begun with the introduction of measures in the sectors of energy, communications, transport, mechanical engineering. In Israel, the innovative development was characterized by the reorientation of the research sphere, the development of innovative products for other countries, the development of research projects and grants. In other countries the economic growth was based on the launch of high-tech products by research centers with the help of significant government support. Among the analyzed countries, the US were recognized as the most advanced in the area of innovation development.

Keywords: innovative development, innovation potential, economic growth.

References:

1. Aguzarova (2012) Aguzarova L.A. Monitoring of the conditions of reproduction of the social and labor potential as a tool for the modernization of the regional economy [Monitoring uslovij vosproizvodstva social’no-trudovogo potenciala kak instrument modernizacii ehkonomiki regiona], Terra Economicus [Terra Economicus] 2012 T. 10. # 3-2. Pp. 133-136 [in Russian]
2. Aguzarova, Aguzarova (2015) Aguzarova L.A., Aguzarova F.S. Priorities and trends in the industrial policy of the Russian Federation [Prioritety i tendencii promyshlennoj politiki Rossijskoj Federacii], Economy and Entrepreneurship [EHkonomika i predprinimatel’stvo] 2015 # 8-1 (61-1). Pp. 399-402. [in Russian]
3. Aguzarova (2015) Aguzarova F.S. Transport tax: current status, challenges and raise of its role in the Russian Federation [Transportnyj nalog: sovremennoe sostoyanie, problemy i povyshenie ego roli v Rossijskoj Federacii], economic policy [EHkonomicheskaya politika] 2015 T. 10. # 1. Pp. 149-158. [in Russian]
4. Kallagov, Chshieva, Lolaeva (2014) Kallagov B.R., Chshieva Z.G., Lolaeva B.H. Key theoretical aspects of the implementation of effective investment policy in the industry [Klyuchevye teoreticheskie aspekty realizacii ehffektivnoj investicionnoj politiki v promyshlennosti], Economy and Entrepreneurship [EHkonomika i predprinimatel’stvo] 2014 # 12 (part 3). Pp. 422-426. [in Russian]
5. Tadtaev (2006) Tadtaeva V.V. Changes in the financing mechanism of the educational system by the criteria of effectiveness and appropriateness [Izmeneniya mekhanizma finansirovaniya sistemy obrazovaniya po kriteriyam ehffektivnosti i celesoobraznosti], Terra Economicus [Terra Economicus] 2006 T. 4. # 4-2. Pp. 278-280. [in Russian]
6. Tokayeva, Aguzarova (2013) Tokayeva S.K., Aguzarova F.S. Theoretical and methodological approaches to the assessment of tax potential, Terra Economicus [Terra Economicus] 2013 T. 11. # 3-3. Pp. 10-13. [in Russian]
7. Information-analytical materials “US National Innovation System: the history of formation, political practice, strategy of development,” Yu – Nizhny Novgorod [Informacionno-analiticheskie materialy «Nacional’naya innovacionnaya sistema SSHA: istoriya formirovaniya, politicheskaya praktika, strategiya razvitiya»yu – Nizhnij Novgorod] 2011.
8. Internet portal http://www.i-ptr.ru Association of “Advanced Technology,” “economic tigers and their miracle-innovations” [Internet-portal http://www.i-ptr.ru Associaciya «Peredovye Tekhnologii» «EHkonomicheskie tigry i ih chudo-innovacii»].
9. Aguzarova 2014 – Aguzarova L.A. Conceptual approaches to the management of social and labor potential reproduction of the region // La Pensee (Paris). 2014. Т. 76. # 10. С. 2-12. [in Paris]

Abstract:

Subject / Topic The article examines the problems of industry development of the Russian economy for the period 2011-2015. The factors affecting the containment of growth of the national economy sectors are analyzed. The imbalance in the industrial development of economy is revealed.

Goals / Objectives To generate the optimum Russian industrial structure according to the standards of the advanced experience of OECD.

Methodology On the basis of statistical information of Russian Statistic Service, the OECD and the World Bank, an industry analysis of the Russian economy and economies of developed countries was performed. Factor analysis of the growth of each of the economies was carried out.

Conclusions and Relevance Current structure of Russian economy is not fully ensures sustainable economic growth, as in the sectors that dominate in production structure, the downward trend in the rates of development is observed.

Keywords: Industry Analysis, manufacturing industry, the Organization for Economic Cooperation and Development, gross value added, industry complex.

References:

1. Prediction and modeling of crises and global dynamics. [Prognoz i modelirovanie krizisov i mirovoj dinamiki]  Ed. AA Akayev, AV Korotaeva, GG Malinetskii. M .: LIBROKOM.[LIBROKOM] 2014. 352 p.
2. 2.Kozhevina OV Government anti-crisis strategy, objectives and risks of re-industrialization industry [Gosudarstvennaya antikrizisnaya strategiya, zadachi i riski reindustrializatsii promyshlennosti]  // Management Sciences[Upravlencheskiye nauki]. 2015. № 3. p. 56-62.
3. Kozhevina OV Trifonov PV An analysis of industry trends of the Russian economy in the context of the basic principles of sustainable development of different types of industries [Analiz otraslevykh trendov rossiyskoy ekonomiki v kontekste bazovykh printsipov ustoychivogo razvitiya raznykh tipov otrasley]  // Basic Research [Fundamental’nyye issledovaniya] . 2016. №12.
4. 4 . Kozhevina OV Trifonov, PV, LV Front Monitoring sustainable development of the Russian economy [Monitoring ustoychivogo razvitiya otrasley rossiyskoy ekonomiki] // Economy and Management: Problems and Solutions [Ekonomika i upravleniye: problemy i resheniya]. 2016. №12
5. 5 . The forecast of socio-economic development of the Russian Federation for 2016 and the planning period of 2017 and 2018 [Prognoz sotsial’no-ekonomicheskogo razvitiya Rossiyskoy Federatsii na 2016 god i na planovyy period 2017 i 2018 godov] URL: http: //www.garant.ru/products/ipo/prime/doc/71224462/ (reference date of 10.10.2016 years)
6. Indicators of innovation: 2016: statistical yearbook [Indikatory innovatsionnoy deyatel’nosti: 2016: statisticheskiy sbornik] / NV Gorodnikova, LM Hochberg, KA Ditkovskiy etc .; Nats.issled.un-t “Higher School of Economics.” – M .: Higher School of Economics [NIU VSHE], 2016. – 320 p.
7. Sorokin DE Problems of restructuring of the Russian economy in the global crisis [Problemy strukturnoy perestroyki rossiyskoy ekonomiki v usloviyakh global’nogo krizisa] // the Russian economic journal [Rossiyskiy ekonomicheskiy zhurnal]. 2009. № 6. p. 39-42.
8. These OECD statistics portal URL: https://data.oecd.org/natincome/value added by activity.htm
9. Data Federal State Statistics Service [Dannyye Federal’noy sluzhby gosudarstvennoy statistiki]: URL http://www.gks.ru/bgd/regl/B12 39 / Main.htm
10. World Bank statistics portal URL: http://www.vsemirnyjbank.org/
11. Bobylev, S.N. (2014) Sustainable Development Indicators for Russia // Socio-economic technology. [Bobylev S.N. Indikatory ustoychivogo razvitiya dlya Rossii // Sotsial’no-ekonomicheskiye tekhnologii]: P. 8-18.
12. Pollitt, C., Bouckaert, G/ Evaluating public management reforms: An international perspective // Evaluation in Public-Sector Reform, Cheltenham: Edward Elgar, 2003. pp. 12-35.
13. Orr, D. (1992) Ecological Literacy: Education and the Transition to a Postmodern World, State University of New York Press, Albany, Ch. 2.
14. Soubbotina, T.P. with Sheram, K.A. (2000) Beyond Economic Growth: Meeting the Challenges of Global Development, World Bank Development Education Progamme, Washington.
15. Wackernagel, M. and Rees, W. (1996) Our Ecological Footprint: Reducing Human Impact on the Earth, New Society Publishers, Gabriola Island BC, Canada.
16. IUCN, UNEP and WWF (1991) Caring for the Earth: A Strategy for Sustainable Living, IUCN, Gland, Switzerland.
17. Report of the World Commission on Environment and Development: Our Common Future. http://www.un-documents.net/wced-ocf.htm.
18. Sustainability: Searching for Solutions, New Internationalist, 329, November Issue.
19.  Gidley, J. & Inayatullah, S. (eds) (2002) Youth Futures: Comparative research and transformative visions, Praeger, Westport CT.
20. Meadows, D. et al. (2005) Limits to Growth: The 30-year update, Earthscan, London.

Abstract

Subject / Topic Due to the high social importance of the trading industry, as well as to its uneven development in the subjects of the Russian Federation, the article deals with the analysis and evaluation of the regional differences in the level of social efficiency of trade.

Goals / Objectives The objective of this article is to build the rating of Russian regions based on the integral indicator of social efficiency of trade.

Methodology Integral indicator used in the construction of a rating, in accordance with the proposed method, is calculated basing on seven indicators, which characterize social efficiency of trade for customers, population engaged in the sector of trade, and the state.

Conclusions and Relevance Results of rating have shown, that currently there are no regions in Russia with high and low levels of social efficiency of trade.  The majority of the subjects (65.1%) are of the average level, 22.9% of subjects are of above the average level, and 12% of subjects are of below the average level. The value of the integral indicator is distributed rather evenly across regions from 0.25 in the Chukotka Autonomous District to 0.75 in Moscow. In general, the highest level of social efficiency of trade is typical for the Central Federal District, the lowest – for the subjects of the Far Eastern Federal District.

Key words: trade, trade enterprise, trade efficiency, social efficiency, region, rating.

References:

1. Aborvalova O.N. Modern trade: the system of social functions [Sovremennaya torgovlya: sistema sotsialnyih funktsiy], Historical and socio-educational thought [Istoricheskaya i sotsialno-obrazovatelnaya myisl] 2012 # 1. P. 163-168 [in Russian]
2. Apolyar I.D., Nikishin A.F. The social responsibility of trade in modern conditions [Sotsialnaya otvetstvennost torgovli v sovremennyih usloviyah], Sustainable Development Strategy of National and World Economy [Strategii ustoychivogo razvitiya natsionalnoy i mirovoy ekonomiki], Ufa: Aeterna, 2015. P. 23-26 [in Russian]
3. Belyaevskiy I.K. Economic and social development of trade: the statistical characteristics of the market of consumer goods [Ekonomicheskoe i sotsialnoe razvitie torgovli: statisticheskie harakteristiki ryinka tovarov potrebitelskogo naznacheniya], Stage: Economic Theory, analysis, and practice [ETAP: ekonomicheskaya teoriya, analiz, praktika] 2013 # 2. P. 125-145 [in Russian]
4. Bozulenko E.Ya., Chvaryuk M.D. Economic and social importance of trade in market conditions [Ekonomicheskoe i sotsialnoe znachenie torgovli v ryinochnyih usloviyah], Young scientists [Molodiy vcheniy] 2015 # 2-1 (17). P. 102-105 [in Russian]
5. Boroday V.A. The impact of the exchange and trade on the development of the society [Vliyanie ekonomicheskogo obmena i torgovli na razvitie obschestva], Humanitarian and socio-economic sciences [Gumanitarnyie i sotsialno-ekonomicheskie nauki] 2009 # 2. P. 132-135 [in Russian]
6. Zverkov S.V., Kvach E.N., Mayorova E.A. Social functions of retail [Sotsialnyie funktsii roznichnoy torgovli], Innovative processes in the scientific community [Innovatsionnyie protsessyi v nauchnoy srede], Ufa: Aeterna, 2015. P. 158-160 [in Russian]
7. Ivanov G.G., Nikishin A.F., Mayorova E.A. Social efficiency as a factor of development of the sphere of circulation [Sotsialnaya effektivnost kak faktor razvitiya sferyi obrascheniya], Institutional and infrastructural aspects of the development of different economic systems [Institutsionalnyie i infrastrukturnyie aspektyi razvitiya razlichnyih ekonomicheskih system], Ufa: Aeterna, 2016. P. 70-72 [in Russian]
8. Ivanov G.G., Mayorova E.A. Corporate social responsibility in commercial business [Korporativnaya sotsialnaya otvetstvennost v torgovom biznese], Russian journal of entrepreneurship [Rossiyskoe predprinimatelstvo] 2015 T. 16 # 20. P. 3569-3582 [in Russian]
9. Karh D.A. Economic and social efficiency of retail services [Ekonomicheskaya i sotsialnaya effektivnost uslug roznichnoy torgovli]: Doctoral dissertation, Ekaterinburg, 2010. 301 p. [in Russian]
10. Korobkin A.Z. The efficiency and competitiveness of the functioning of trade organizations: theoretical and methodological aspects [Effektivnost i konkurentosposobnost funktsionirovaniya organizatsiy torgovli: teoretiko-metodicheskie aspektyi]. Gomel: KIPUP «Sozh», 2005. 288 p. [in Russian]
11. Mayorova E.A., Nikishin A.F., Pankina T.V. Intangible assets and their impact on the socio-economic efficiency of trade [Nematerialnyie aktivyi i ih vliyanie na sotsialno-ekonomicheskuyu effektivnost torgovli], Economy and Entrepreneurship [Ekonomika i predprinimatelstvo] 2016. # 1-1 (66-1). P. 1133-1136 [in Russian]
12.       Mayorova E.A., Nikishin A.F., Pankina T.V. Social networks in the retailers’ activity [Sotsialnyie seti v deyatelnosti roznichnyih torgovyih organizatsiy], Economy. Business. Banks [Ekonomika. Biznes. Banki] 2016 # 3 (16). P. 57-67 [in Russian]
13. Malinin S.A. Social aspects of trade [Sotsialnyie aspektyi funktsionirovaniya torgovli], Development of science and education in the modern world [Razvitie nauki i obrazovaniya v sovremennom mire], M.: AR-Konsalt, 2015. P. 47-48 [in Russian]
14. Muravskaya E.O., Sosid S.V. The impact of management decisions in the retail sector in the social development of the city of Krasnoyarsk [Vliyanie upravlencheskih resheniy v sfere roznichnoy torgovli na sotsialnoe razvitie goroda Krasnoyarska], Modern problems of economic and social development [Sovremennyie problemyi ekonomicheskogo i sotsialnogo razvitiya] 2010 # 6. P. 186-191 [in Russian]
15. Nikishin A.F., Ivanov G.G. Social efficiency of distance trade [Sotsialnaya effektivnost distantsionnoy torgovli], Modern trends in the development of science and technology [Sovremennyie tendentsii razvitiya nauki i tehnologiy] 2016 # 9-4. P. 84-86 [in Russian]
16. Pshenetskiy S.A. To the question of the specifics of the social orientation of the retail services market [K voprosu o spetsifike sotsialnoy napravlennosti ryinka uslug roznichnoy torgovli], Economy and Entrepreneurship [Ekonomika i predprinimatelstvo] 2013 # 5 (34). P. 159-161 [in Russian]
17. Fomina A.V. Socio-economic efficiency of retail services [Sotsialno-ekonomicheskaya effektivnost uslug roznichnoy torgovli]: PhD thesis. Samara, 2010. 186 p. [in Russian]
18. Akbar S., Ahsan K. Corporate social responsibility reporting practices: a review of Australia’s top retailers, Academy of Taiwan Business Management Review 2014 # 10. P. 149 – 158 [in English]
19. Deepa S., Chitramani P. CSR in retailing industry – a case of three retail stores, International Journal of Business and Administration Research Review 2015 # 3 (9). P. 128 [in English]
20. Lovre K., Brankov T. Multiple sustainability dimensions of retail sector in Serbia until 2013, Industrija 2016 # 44 (1). P. 133-149 [in English]
21. Mayorova E.A., Lapitskaya N.V. Assessment of customers’ perception of social responsibility of trade business, International Journal of Economics and Financial Issues 2016 Т. 6. # 2. С. 158-163[in English]
22. Rakotomavo M. T. J. Preferences of retail investors and institutions for corporate social performance, Journal of Sustainable Finance & Investment 2011 # 1 (2). P. 93-102 [in English]
23. Kevesh A.P., Sabelnikova M.A., Bashina O.E., etc. Trade in Russia. 2015 [Torgovlya v Rossii. 2015]: Stat. sb., Rosstat. M., 2015. 243 p. URL: http://www.gks.ru/free_doc/doc_2015/torg15.pdf (accessed 03.11.2016) [in Russian]
24. Oksenoyt G.K., Bugakova N.S., Gelvanovskiy M.I., etc. Regions of Russia. Socio-economic indicators. 2015 [Regionyi Rossii. Sotsialno-ekonomicheskie pokazateli. 2015] Stat. sb., Rosstat. M., 2015. 1266 p. URL: http://www.gks.ru/free_doc/doc_2015/region/reg-pok15.pdf (accessed 03.10.2016) [in Russian]
25. Trade Development Strategy of the Russian Federation for 2015 – 2016 and the period up to 2020 (approved by the Order of the Industry and Trade Ministry of Russia from 25.12.2014 N 2733.) [Strategiya razvitiya torgovli v Rossiyskoy Federatsii na 2015 – 2016 godyi i period do 2020 goda (utv. Prikazom Minpromtorga Rossii ot 25.12.2014 N 2733)]. URL: http://www.consultant.ru/document /cons_doc_LAW_173113/ (accessed 03.10.2016) [in Russian]

Abstract

Subject/ Topic The growth and stability of the country’s leading enterprises depend on the efficiency of their use of advanced technology and resources. The majority of implemented new scientific inventions are the objects of intellectual property (IP). Commercialization of high technologies is the process of movement of innovative products from the creators to the consumers.

Goals / Objectives Investigation of the ways of transformation of intellectual property object into a commodity and its implementation in the production process in order to obtain commercial results; systems of monitoring and evaluation of introduced results of intellectual activity (RIA) in industrial environment  of innovation activity as an obligatory commercial use of high technology.

Methodology Analysis of practice of high technologies commercialization and active implementation of technological capital of enterprise, as a component of intellectual capital; method of commercialization of products of innovation activity as its use, bringing the company maximum profit and sustainable position in the market.

Conclusion and Relevance The main problems of management and commercialization of RIA and methods of effective management of intellectual property transfer were defined. Innovatively active companies focus not only on the achievements in the sphere of production, but also on icreasing of innovative capital. Increase of efficiency of domestic companies activity under the current market conditions directly depends on the company’s strategy of the development through the implementation of innovative reforms, constant updating of the range of products and services, the introduction of new technological processes. A perspective direction is the creation and active promotion of high technologies to the market.

Keywords: commercialization, high technologies, transfer, innovation, investment, intellectual property, intellectual capital, profit, profitability, franchising, leasing, engineering, industrial cooperation, expertise

JEL: 033, 034

References

1. Mazur, Shapiro, Olderogge (2003) – Mazur I.I., Shapiro V.D., Olderogge N.G. Effective management [Effektivnyiy menedzhment] Moscow: Higher School, 2003. – 555 p. [in Russiаn]
2. Kozmetsky (1999) – Kozmetsky J. Challenge of technological innovations on the threshold of a new era of global competition // Transfer of technology and efficient implementation of innovations [Vyizov tehnologicheskih innovatsiy na poroge novoy eryi obschemirovoy konkurentsii]/ Ed. NM Fonshteyn. – M.: Academy of National Economy, 1999. – 296 s. [in Russiаn]
3. Monastyrnyi (2004) – Monastyrnyi E.A. Resource approach to the building of business processes and commercialization of inventions [Resursnyiy podhod k postroeniyu biznes-protsessov i kommertsializatsii razrabotok]/ E.A. Monastyrnyi, Y.N. Creek // Innovations. 2004. N 7. – pp. 85-87. [in Russiаn]
4. Muhopad (2010) – Muhopad V.I. Intellectual Property Commercialization [Kommertsializatsiya intellektualnoy sobstvennosti]/ VI Muhopad. – M: Master INFRA. – M.: 2010. 512p. [in Russiаn]
5. Prokhorov (2011) – Prokhorov A.N. Foreign experience of building of the process of commercialization of intellectual property [Zarubezhnyiy opyit postroeniya protsessa kommertsializatsii intellektualnoy sobstvennosti]/ AN Prokhorov // Vestnik of Tyumen State. Univ. 2011. N 11. S. 66-70. [in Russiаn]
6. Likholetov, Pestunov (2009) – Likholetov A.V. Strategies, models and forms of commercialization of intellectual property [Strategii, modeli i formyi kommertsializatsii ob’ektov intellektualnoy sobstvennosti]/ AV Likholetov, VV Likholetov, MA Pestunov // Herald of Chelyabinsk State University. – 2009. – N 9 (147). Economy. Vol.20. P. 19 – 27. [in Russiаn]
7. Sadkov (2007) – Sadkov V.G. Analysis of forms of commercialization of market-successful innovations of the twentieth century [Analiz form kommertsializatsii ryinochno uspeshnyih innovatsiy HH veka]/ VG SADC AI Derengovsky // Innovations. 2007. N 10 (108). S. 46 – 48. [in Russiаn]
8. Kupriyanova (2014) – Kupriyanova L.M. Innovative processes in the banking sector [Innovatsionnye protsessy v bankovskoy sfere], Scientific journal: the economy. Business. Banks [Nauchnyii shurnal: Economika. Biznes. Banki] 2014 # 1. p. 24-45 [in Russian]
9. Usmanova, Kupriyanova (2016) – Usmanovа T.H., Kupriyanovа L.M. Management in the commercialization of intellectual property [Menedzhment v kommertsializatsii intellektualnoy sobstvennosti]. International Journal of Economics. Business. Banks. Published “Rim University” [Nauchnyii shurnal: Economika. Biznes. Banki]. M.: Volume 1, 2016. pp 9-25 [in Russiаn]
10. Kupriyanova, Usmanova (2016) – Kupriyanova L.M., Usmanova T.H. Features of intellectual property economy [Osobennosti ekonomiki intellektualnoy sobstvennosti]. Economy. Business. Banks. [Nauchnyii shurnal: Economika. Biznes. Banki]. 2016. N 3 (16). S. 81-94. [in Russiаn]
11. Tikhonov N.A. effective way to commercialize innovation [electronic resource] / NA Tikhonov – Access: http://uecs.ru/uecs40-402012/item/1271-2012-04-19-06-35 -15. [in Russiаn]
12. Edvinsson L. Intellectual Capital: realizing your company’s true value by finding its hidden brainpower (1st ed.) / L.Edvinsson, M.S. Malone. – N.Y: Harper Business. – 1997. – 240 p.
13. Teece David J., Managing Intellectual Capital. Organizational, Strategic and Policy Dimensions. – N.Y.: Oxford University Press, 2002.
14. Kupriyanovа (2016) – Kupriyanovа L.M. Analysis of intellectual property indicators [Analiz pokazateley intellektualnoy sobstvennosti] Theses of the report at the conference “The economic potential of the industry in the service of the military-industrial complex.” Finuniversitet, M.: 2016 [in Russiаn]

Abstract

Subject  / Topic  This article focuses on the сurrent status of the Russian banking sector.

Goals / Objectives The purpose of the study is to determine the characteristics of functioning of the Russian banking system in the context of the “new reality.”To achieve this purpose the following tasks have been set: to determine the content of problems of functioning of the Russian banking system in the modern world; to consider the definition of the current situation in the banking sector as a crisis; to research the statistics on the Russian credit institutions and to identify trends, especially monetary policy in Russia; to analyze the impact of sanctions on the banking sector in Russia in 2014-2016;to make a conclusion on the effectiveness of the banking system during the crisis, to suggest solutions.

Methodology The methodological basis are the statistical bulletins issued by the Bank of Russia.

Conclusions and Relevance The work has studied the most significant banking crises, which are differentiated by years and countries; it has  compiled and analyzed in detail the statistics on Russian banking sector (the dynamics of change in the number of commercial banks, the volume of of individuals’ deposits attracted by credit organizations, the key financial indicators of the banking sector in the implementation of various development scenarios); considered the effect of sanctions on the Russian banking sector. As a conclusion of this research, the prospects of development of Russian banking system and the ability to overcome sanctions and exit from the crisis were defined.

Keywords: banking, banking crises, commercial banks, deposits, penalties.

References:

1. Federal Law No. 395-1 of 2 December 1990 “On banks and banking Activity” (current edition, 2016)
2. Federal Law No. 451 of 29 December 2014 “On Amendments to Article 11 of the Federal Law ‘On Insurance of Individuals’ Deposits in Russian Federation Banks’ and Article 46 of the Federal Law ‘On the Central Bank of the Russian Federation (Bank of Russia)’”
3. Diptes C. Bhimjee, Sofia B. Ramos, José G. Dias. Banking industry performance in the wake of the global financial crisis. Original Research Article. International Review of Financial Analysis, Scopus, Volume 48, 2016, P. 376-387.
4. Fredj Jawadi, Benoît Sévi. Introduction to recent research topics in banking and finance. Research in International Business and Finance, Scopus, Volume 39, Part B, 2017, Pages 761-762
5. Fredj Jawadi, Waël Louhichi. Overview on the recent developments of banking and risk management. Research in International Business and Finance, Scopus, Volume 39, Part B, 2017, P. 896-898.
6. John Devereux, Gerald P. Dwyer. What determines output losses after banking crises? Original Research Article. Journal of International Money and Finance, Scopus, Volume 69, 2016, P. 69-94.
7. Kindleberger Ch., Aliber P. The global financial crisis. Manias, panics and crashes. [Mirovyie finansovyie krizisyi. Manii, paniki i krahi.] – SPb: Piter 2010. – 544.
8. Kozlova, Savicheva, Sokolov (2014) – Kozlova D.V., Savicheva T.S., Sokolov N.E. Problems of risk management in the Russian banking system. Journal of Bryansk State University.2014. №3. P.52-56.
9. Komarov, Fedorov (2016) – Komarov AV, Fedorov VG Impact of sanctions policy on the banking system of the Russian Federation 2014-2016. [Vliyanie sanktsionnoy politiki na bankovskuyu sistemu Rossiyskoy Federatsii 2014-2016] // Economy. Business. Banks. [Ekonomika. Biznes. Banki.] 2016. № 8. P. 127-137.
10. Komarov, Kostin (2016) – Komarov AV, Kostin SA Ways to minimize the risks and their use in the Russian reality. [Sposobyi minimizatsii riskov i ih primenenie v rossiyskoy deystvitelnosti.] // Economy and modern management theory and practice. [Ekonomika i sovremennyiy menedzhment: teoriya i praktika.] 2016. № 60. P. 54-60.
11. Mekki Hamdaoui. Are systemic banking crises in developed and developing countries predictable? Original Research Article. Journal of Multinational Financial Management, Scopus, Volumes 37–38, 2016, P. 114-138.
12. Olivier Butzbach. Systemic risk, macro-prudential regulation and organizational diversity in banking. Original Research Article.Policy and Society, Scopus, Volume 35, Issue 3, 2016, P.239-251.
13. Tomas Fiala, Tomas Havranek. The sources of contagion risk in a banking sector with foreign ownership. Original Research Article. Economic Modelling, Scopus, Volume 60, 2017, P. 108-121.
14. The Bank of Russia website / information Bank of Russia press service of “On the key rate of the Bank of Russia and other measures of the Bank of Russia”. [informatsiya press-sluzhbyi Banka Rossii «O klyuchevoy stavke Banka Rossii i drugih merah Banka Rossii»] Access URL: http://www.cbr.ru/press/pr.aspx?file=16122014_004533dkp2014-12-16T00_39_23.htm (reference date – 10.09.2016)
15. The Bank of Russia Website / Information on registration and licensing of credit institutions (2013-2016). [Informatsiya o registratsii i litsenzirovanii kreditnyih organizatsiy (2013-2016)] Access URL: http://www.cbr.ru/statistics/print.aspx?file=bank_system/inform_15.htm&pid=lic&sid=itm_43766 (reference date – 05.09.2016)
16. The Bank of Russia Website / Data on the volume of attracted deposits by credit institutions (deposits) of individuals (2014-2016). [Sayt Banka Rossii / Dannyie ob ob’emah privlechennyih kreditnyimi organizatsiyami vkladov (depozitov) fizicheskih lits (2014-2016)]. Access URL: http://www.cbr.ru/statistics/print.aspx?file=bank_system/4-2-1a_16.htm&pid=pdko_sub&sid=dpbvf (reference date – 25.08.2016)
17. Website of news agency “Banki.ru” [Sayt informatsionnogo agentstva «Banki.ru»] – [Electronic resource] – URL Access: http://www.banki.ru/news/bankpress/?id=6364946 (reference date – 22.08.2016)
18. Website of news agency “TASS” [Sayt informatsionnogo agentstva «TASS»] – [Electronic resource] – URL Access: http://tass.ru/ekonomika/1353358 (reference date – 02.09.2016)
19. Website of RAEX the Rating Agency (“Expert RA”) [Sayt Reytingovogo agentstva RAEX («Ekspert RA»)] – [Electronic resource] – URL Access: http://raexpert.ru/rankingtable/bank/2016_prognoz/tab02/ (reference date – 16.09.2016)
20. Website of “Russian Newspaper” [Sayt «Rossiyskoy gazetyi»] – [Electronic resource] – Access URL: https://rg.ru/2016/07/29/moodys-nazvalo-nichtozhnym-vliianie-sankcij-na-rossijskie-banki.html (reference date – 12.09.2016)

Abstract

Subject / Topic Due to the negative situation recently taking place in the Russian economy, the problem of development of the market of bank consumer crediting  is very actual as one of the most important factors of ensuring the effective demand of the population.

Goals / Objectives The purpose of this article is to define the vector of the current development and perspectives of the banking consumer credit market, based on the analysis of the dynamics of the main indicators of its operation, as well as on the identification of the main factors determining the specifics of this stage of transformation of credit market conditions.

Methodology In the process of writing of this work such methods of economic research as a systematic approach to the study of the object of research, as well as a graphical method allowing to illustrate the processes taking place in the consumer crediting market were used. On the basis of the scientific approach, an actual information on the topic of the study was analysed, using comparison methods, compilation, method of economic and statistical processing of information. Current problems affecting the functioning of the market of bank crediting of population were also analysed, and the hypothesis about the future prospects of its development were presented.

Conclusions and Relevance As the result of the study, the conclusion was made about the recovery of market of bank crediting of population in the first half of 2016. However, the vector of the main statistical indicators of this market can not be explicitly determined, since it depends on many factors, including factors of foreign policy, which have a significant impact on the economy of the country.

Keywords: commercial banks, rating, credit markets, market of bank crediting of the population, arrears.

References:

1. Tarkhanova (2016) – Tarkhanova E.A. Banking [Bankovskoe delo], Tyumen: TSU Publishing. [Tyumen: Izdatelstvo TyumGU] 2015. 304 p. [in Russian]
2. Sobchenko, Skrebtsova (2015) – Sobchenko N.V., Skrebtsova T.V. An analysis of the dynamics of lending and arrears of the leading Russian banks [Analiz dinamiki kreditnyih operatsiy i prosrochennoy zadolzhennosti veduschih rossiyskih bankov], Economy. Business. Banks. [Ekonomika. Biznes. Banki] 2015#2.p.59-64 [in Russian]
3. Lavrushin (2012) – Lavrushin O.I. The role of credit and modernization of banks in lending [Rol kredita i modernizatsiya deyatelnosti bankov v sfere kreditovaniya], Moscow: KNORUS [Moskva: KNORUS] 2012.272 p. [in Russian]
4. Tarkhanova, Sitnic (2014) – Tarhanova E.A., Sitnic M.M. The modern market of bank crediting of the population of Russia: problems and prospects [Sovremennyiy ryinok bankovskogo kreditovaniya naseleniya RF: problemyi i perspektivyi] WIRTSCHHAFT UND MANAGEMENT: THEORIE UND PRAXIS Der wissenschaftliche Redakteur S.I. Drobjasko [WIRTSCHHAFT UND MANAGEMENT: THEORIE UND PRAXIS Der wissenschaftliche Redakteur S.I. Drobjasko] 2014.p.111-114 [in Deutschland]
5. Stepanova, Orlov, Shportova (2015) – Stepanov O.A., Orlova S.A., Shportova T.V. Consumer crediting in Russia: problems and solutions [Potrebitelskoe kreditovanie naseleniya v Rossii: problemyi i puti resheniya] Fundamental research [Fundamentalnyie issledovaniya] 2015#2-13.p.2930-2932 [in Russian]

Abstract

Subjec / Topic The work studies the economic essence of the concept of “banking investment and consulting service”, allocates income and risks in the investment activity of commercial banks.

Goals / Objectives The goal of this work is a detailed examination of the structure of income and risks in the investment activity of commercial banks. For this purpose, different types of bank investment services were isolated and described, for one of which the author’s interpretation was provided.

Methodology In the work the methods of analysis and synthesis, comparison method, system analysis, a sample survey were used.

Conclusions and Relevance The features of income and risks in the investment activity of commercial banks were studied. The structure of earnings in investment activity of commercial banks was distinguished, consisting of credit profits (land loans and mortgage credits, investment long-term credits, project financing, construction credits, productive credits, trade (bill of exchange) credits, credit on acquisition of securities); trust profits (property management by proxy etc.); profits from consultative services (consultations on markets and investments, and also recommendations on investing, presentation of analyst reports, service of experts, estimation of profitableness of investments etc.); profits from securities issuing (operations on issuing of securities, operations on a purchase and sale of securities, crediting against the pledge of purchased securities). A new concept is introduced: bank investment-consultative service. Direct connection between profits and risks in investment activity of commercial banks is determined.

Keywords: investments, commercial bank, income, risks, investment activity, bank service, bank investment-consultative service.

References:

1. Korobov (2005) – Korobov Y.I. The essence of the bank and its evolution in modern conditions [Sushnost banka I ee avoluziay v sovremennih usloviayh], Banking [Bankovskie uslugi] 2005 #7-8. p. 14-19 [in Russian]
2. Kopchenko, Ilyina (2016) – Kopchenko Y.E., Ilina L.V. Bank lending Infrastructure [Infrastruktura bankovskogo kreditovaniay], Almanac of world science [Almanah mirovoy nauki] 2016 #3-3(6). p. 29-32 [in Russian]
3. Grishina (2016) – Grishina E.A. Trends in the development of credit services provided by commercial banks [Tendencii razvitiay kreditnih uslug, predostavlayemih kommerchiskimi bankami], Finances and Credit [Finansi i kredit] 2016 # 28(700). p. 18-27 [in Russian]
4. Korobova, Travkina (2013) – Korobova G.G., Travkina E.V. System approach to the organization of the monitoring of banking risks in Russia [Sistemniy podhod k organizazii monitoring bankovskih riskov v Rossii], Science and Society [Nauka I obshestvo] 2013 # 6 (15). p. 127-131 [in Russian]
5. Trifonov (2010) – Trifonov D.A. Credit risks of commercial banks and ways to reduce them [Kreditnie riski kommercheskih bankov I sposobi ih snizheniya], Russian Entrepreneurship [Rossiyskoe predprinimatelstvo] 2010 #2-1. p. 112-117 [in Russian]
6. Bogomolov (2014) – Bogomolov S.M. New forms and content of activity of regional banks: Sat. scientific. tr. [Novie formi i soderzhanie deyatelnosti regionalnih bankov: sbornik nauchnih trudov], Saratov: SSSEU [Saratov: SGSEU] 2014 [in Russian]
7. Shishkina (2013) – Shishkina D.A. Problems and prospects of development of the agrarian sector enterprises in the conditions of Russia’s accession to the WTO [Problemi I perspektivi razvitiay predpriaytiy agrarnoy sferi v usloviyah prisoedineniay Rossii k VTO], Science and Education in the XXI Century: Proceedings of the International correspondence scientific-practical conference. Tambov [Nauka I obrazovanie v 21 veke: materiali mezdunarodnoy zaochnoy nauchno-prakticheskoy konferencii. Tambov] 2013 [in Russian]
8. Karpova (2012) – Karpova R.A. The role of the state financial and credit support for agricultural development in lending [Rol gosudarstvennoy finansovo-kreditnoy podderzki selhozproizvoditeley v razvitii kreditovaniay], Modernization of the economy and Russian society in the conditions of world economic crisis of relations: collection of scientific papers on the results of research work SSSEU in 2012. Saratov: SSSEU [Modernizaciay economiki I obshestva Rossii v usloviyah krizisa mirohozaystvennih otnosheniy: sbornik nauchnih trudov po itogam NIR SGSEU v 2012 godu. Saratov: SGSEU] 2012 [in Russian]
9. Bogomolov, Kozhakar (2013) – Bogomolov, S.M., Kozhakar A.P. Assessment of the current state of syndicated lending in Russia [Ocenka sovremennogo sostoyaniay sindicirovannogo kreditovaniay v Rossii], Science and Society [Nauka I obshestvo] 2013 #6. p. 144-149 [in Russian]
10. Yakunin (2014) – Yakunin S.V. Issues of cooperation between banks and microfinance institutions [Voprosi vzaim,odeystviya bankov I mikrofinansovih organizaciy], Modern science: actual problems of theory and practice [Sovremennaya nauka: aktualnie voprosi teorii I praktiki] 2014 #1. p. 46-49. [in Russian]
11. The Federal Law “On banks and banking activity” № 395-1 FZ dated December 2, 1990 [Federalniy zakon “o bankah I bankovskoy deyatelnosti” № 395-1 FZ ot 2 dekabrya, 1990 g.], the Russian newspaper [Rossiyskaya gazeta] 2013 # 27 [in Russian]
12. Azriliyan (2006) – New Dictionary of Economics / Edited by A.N. Azriliyana [Noviy ekonomicheskiy slovar / pod redakciey A.N. Azriliyana], M.: Institute of New Economy [M.: Institut novoy economici] 2006. 1088 p [in Russian]
13. Raizberg, Lozovsky, Starodubtseva (2007) – Raizberg B.A., L. S. Lozovsky, E.B. Starodubtsev Modern Dictionary of Economics. – 5 th ed., Revised. and ext. [Sovremenniy economicheskiy slovar. – 5 izdanie pererabotannoe I dopolnennoe], M .: INFRA-M [M.: INFRA-M] 2007. 495 p [in Russian]
14. Free Legal Dictionary // http://legal-dictionary.thefreedictionary.com/trust
15. The Civil Code (the Civil Code) Art. 142 from 30.11.1994 N 51-FZ – Part 1. [Grazkdanskiy kodeks RF (GK RF) st. 142 оt 30.11.1994 N 51-FZ – chast 1]
16. Lavrushin, Valentseva (2013) – Banking / ed. O.I. Lavrushina, N.I. Valentseva. [Bankovskoe delo / pod red. O.I. Lavrushina, N.I. Valentseva], M.: KnoRus [M.: KnoRus] 2013. 800 p [in Russian]
17. Korobov, Rubin, Soldatkin (1994) – Bank portfolio 2: Book of bank manager. Book of bank financier. Book of bank lawyer / ed. Y.I. Korobov, Y.B. Rubin, V.I. Soldatkina. M. [Bankovskiy portfel 2: Kniga bankovskogo menegera. Kniga bankovskogo finansista. Kniga bankovskogo yurista / pod red. Y.I. Korobov, Y.B. Rubin, V.I. Soldatkina.] 1994. P. 315.

Abstract

Subject / Topic  All works on corporate training contain the description of evaluation methods of learning efficiency of the personnel. Together with this, the lack of a formalistic approach to reflection of cost-efficiency of corporate training in productivity of the bank as a whole causes a subject of this work.

Goals / Objectives The purpose of this article is to offer methodology of creation of ROI model for formalization of process of assessment of profitability of investments into corporate training of personnel. The main priority in the development of corporate training, which consists of accounting of interrelation of bank shareholder value with personal efficiency of the employee, is for this purpose determined. The purposes of corporate training relating to development of capabilities, strengthening the skills of heads and increase of loyalty of bank personnel are analyzed. The ROI model is developed.

Methodology The methodology of creation of ROI model includes five stages and assumes calculation of absolute and relative (ROI) value of aggregate economic effect of training of one employee. For the purpose of confirmation of adequacy of work of ROI model, the numerical example is considered and analyzed.

Conclusions and Relevance By results of numerical research of ROI model, its use as a gage of efficiency of corporate training, which provides coordination between personal efficiency of the employee and efficiency of divisions of bank, for the purpose of forming of bank shareholder value is offered.

Keywords: shareholder value, personal effectiveness, valuation methods, numerical study, contribution to value creation, ROI model, training purposes

References:

1. Borisova (2003) – Borisova Е.А. Personnel management for modern heads [Upravlenie personalom dlya sovremennykh rukovoditeley]. SPb.: Piter. [ SPb.: Piter]. 2003 [in Russian]
2. Вучкович-Стадник (2008) – Vuchkovich-Stadnik А.А. Staff evaluation: accurate algorithm and high-quality practical decisions [Otsenka personala: chetkiy algoritm i kachestvennye prakticheskie resheniya]. M.: Eksmo [M.: Eksmo]. 2008 [in Russian]
3. Fletcher (2008) – Fletcher К. Assessment and feedback: practical aspects of the overview of overall performance: translation from English [Otsenka i obratnaya svyaz’: prakticheskie aspekty obzora effektivnosti raboty: per. s angl.]. M.: HIPPO [M.: HIPPO]. 2006 [in Russian]
4. Kirkpatrick, Kirkpatrick (2008) – Kirkpatrick D.L., Kirkpatrick J.D. Evaluating training programs. The four levels. San Francisco: Berrett-Koehler Publishers, Inc. 2008.
5. Phillips (1997) – Phillips J.J. Return on Investment in training and performance improvement programs. Houston: Gulf Publishing Co. 1997.
6. Scriven (1991) – Scriven M. Evaluation thesaurus. California: SAGE Publications, Inc. 1997.
7. Guba (1978) – Guba E.G. Toward a methodology of naturalistic inquiry in educational evaluation. Los Angeles: Center for the study of evaluation. 1978.
8. Waggington, Aaron, Sheldrick (2004) – Waggington T., Aaron B., Sheldrick R. Guerilla Evaluation: Adapting to the Terrain and Situation, Instructional Design in the Real Word. USA: US Government Printing Office. 2004.
9. Dobrov (2013) – Dobrov R.G. The comparative analysis of models of an efficiency evaluation of training actions in system of intra corporate training [Sravnitel’nyy analiz modeley otsenki effektivnosti obuchayushchikh meropriyatiy v sisteme vnutrikorporativnogo obucheniya], NEWS VolgGTU [IZVESTIYa VolgGTU] 2013 # 5(108). p. 65–69 [in Russian]
10. Kh’yuzlind, Bekker, Bitti (2007) – Kh’yuzlind М.А., Bekker B.E., Bitti R.U. Staff evaluation: how to manage a human capital, to realize strategy: translation from English [Otsenka personala: kak upravlyat’ chelovecheskim kapitalom, chtoby realizovat’ strategiyu: per. s angl.]. M.: Vil’yams [M.: Vil’yams]. 2007 [in Russian]
11. Кудрявцева, Козин (2006) – Kudryavtseva E.I., Kozin A.A. Corporate training as modern form of advanced training of the personnel [Korporativnoe obuchenie kak sovremennaya forma povysheniya kvalifikatsii personala], Bulletin Komi of republican academy of public service and management. Series: Theory and management practice [Vestnik Komi respublikanskoy akademii gosudarstvennoy sluzhby i upravleniya. Seriya: Teoriya i praktika upravleniya] 2006 # 2-3 (7-8). p. 180—181 [in Russian]
12. Kharskiy (2003) – Kharskiy K. Reliability and loyalty of the personnel [Blagonadezhnost’ i loyal’nost’ personala]. SPb.: Piter [SPb.: Piter]. 2003 [in Russian]
13. Weaver (1999) – Weaver M.J. Beyond the ropes: Guidelines for selecting experiential training, Corporate University Review, February. 1999.
14. Williams (1999) – Williams K. Hidden concepts in training, Industrial and Commercial Training. 1999. Vol. 31, № 2, p. 57 – 60.
15. Kauffeld, Lehmann-Willenbrock (2010) – Kauffeld S., Lehmann-Willenbrock N. Sales training: effects of spaced practice on training transfer, Journal of European Industrial Training. 2010 Vol. 34, # 1, p. 23 – 37.
16. Holton, Bates, Ruona (2000) – Holton E.F., Bates R.A., Ruona W.E. Development of a generalized learning transfer system inventory, Human Resource Development Quarterly. 2000 Vol. 11, # 4, p. 33-60.
17. Lim, Johnson (2002) – Lim D.H., Johnson S.D. Trainee perceptions of factors that influence learning transfer, International Journal of Training and Development. 2002 Vol. 6, # 1, p. 36 – 48.
18. Bates, Kauffeld. Holton (2005) – Bates R.A., Kauffeld S., Holton E.F. Toward construct validation of a German version of the learning transfer system inventory, Proceedings of the Academy of Human Resource Development International Conference, Academy of Human Resource Development, Boston, OH. 2005 p. 1327-34.
19. Kandaurova, Sidorkina (2007) – Kandaurova I.A., Sidorkina S.V. Investments into the company future through training of employees today [Investitsii v budushchee kompanii cherez obuchenie sotrudnikov segodnya], Management of personnel development [Upravlenie razvitiem personala] 2007 # 4(12). p. 280–285 [in Russian]
20. Williams, Graham, Baker (2003) – Williams S.D., Graham T.S., Baker B. Evaluating outdoor experiential training for leadership and team building, Journal of Management Development. 2003 Vol. 22, # 1, p. 45 – 59.
21. Krutova (2011) – Krutova M.V. Training and personnel development efficiency evaluation [Otsenka effektivnosti obucheniya i razvitiya personala], Management in human potential [Upravlenie chelovecheskim potentsialom] 2011 # 4(28). p. 334–339 [in Russian]
22. Egorshin (2011) – Egorshin A.P. Personnel management bases: education guidance. the 3rd edition processed and added [Osnovy upravleniya personalom: ucheb. posobie. 3-e izd., pererab. i dop.]. M.: INFRA-M [M.: INFRA-M]. 2011 [in Russian]
23. Fitz-enz (2009) – Fitz-enz J. The ROI of human capital: measuring the economic value of employee performance, United States. 2009.

Abstract

Subject / Topic This work is dedicated to an overview of the syndications process in the loan market. The loan capital market is one of the main financing sources for Russian corporations. One of the key instruments of the loan market is the syndicated loan. During the arrangement of the syndicated loan funds are raised via a syndication process from a wide investor base.

Goals / Objectives The major steps of the syndications process are described and analyzed, including: preparation, informing investors about the deal, forming the syndicate, signing of the legal documents, disbursement of the funds.

Methodology The main stages of forming the syndicate of investors are considered, as well as the functions and roles of banks during the syndications process, marketing and legal documents. The functions of the participants and the timeline of the syndications process are summarized.

Conclusions and Relevance The key criteria of a successful deal is the achievement of the planned aims of syndication in the envisaged timeline.

Keywords: Syndicated loans, syndication process, investors, corporate finance, loan market.

References:

1. Taylor (2014) – Taylor А., Sansone A. The Handbook of Loan Syndications and Trading. McGraw–Hill, 2006. 982p.
2. Fight (2004) – Fight A. Syndicated Lending. Butterworth–Heinemann, 2004. 208 p.
3. Iannotta (2010) – Iannotta G. Investment Banking: A Guide to Underwriting and Advisory Services. Springer, 2010. 193 p.
4. Campbell (2013) – Campbell M., Weaver C. Syndicated Lending: Practice and Documentation. Euromoney Institutional Investor, 2013. 570 p.

Abstract

Subject / Topic An innovative way of development today is a guarantee for sustainable economic growth of the country. If the state is going to implement modern technologies in the economy, to create the production with high added value, it will increase its competitiveness among the national and global economies, goods and services will move to the foreign markets.

Methodology Statistic analyzis. The globalization of markets, development of the “knowledge economy” creates favorable conditions for the transformation of the innovation sector in the key factor in the development of market economies. The major tasks of the EEA is the modernization of national economies and the intensification of integrative cooperation.

Conclusions and Relevance The emergence of a new field – relationships of intellectual property, will allow to effect production and exchange knowledge on an international level. As a result of this cooperation, it will be possible to observe the long-term economic development of not only those countries, which have innovative potential, but also those countries, which can effectively adopt and use  innovations. NIS and long-term strategy are the main components of the control mechanism and the development of innovative potential of the country.

Conclusions and Relevance For the purpose of effective implementation of innovation strategy the following mechanisms are required: the development of human capital in the fields of science, education and technology; the improvement of adaptability of population to innovative technologies; Russia’s integration in the global markets and global processes of creation of innovative products; the establishment of effective and attractive incentives for the influx of skilled workers.

Keywords: Innovation, intellectual property, competitiveness, the agreement on the Eurasian Economic Union, international cooperation, intellectual property market.

JEL: О34

References:

1. Aliev (2015) – Aliev S.B, Intellectual property within the Eurasian integration [Intellektualnaya sobstvennost v ramkah Evraziyskoy integratsii], 2015; р. 7-17
2. The world intellectual property organization, Economic aspects of intellectual property for countries with transition economy [Vsemirnaya organizatsiya intellektualnoy sobstvennosti, Ekonomicheskie aspektyi intellektualnoy sobstvennosti dlya stran s perehodnoy ekonomikoy], 2013; р. 10
3. Yakovets (2014) – Yakovets Yu.V., Trends and prospects of development of global and Eurasian markets of intellectual property [Tendentsii i perspektivyi razvitiya mirovogo i evraziyskogo ryinkov intellektualnoy sobstvennosti], 2014
4. The main provisions of the long-term state strategy in the field of intellectual property, approved by the Government of the Russian Federation from December 8, 2011 № 2227-R [Osnovnyie polozheniya dolgosrochnoy gosudarstvennoy strategii v oblasti intellektualnoy sobstvennosti», utverzhdena Pravitelstvom RF ot 8 dekabrya 2011 g. # 2227-r] ; р. 11-12
5. Karpova (2015) – Karpova N.N., Intellectual property in the conditions of innovation economy [Intellektualnaya sobstvennost v usloviyah innovatsionnoy ekonomiki], 2015; р. 9-10
6. Russian statistical Yearbook [Rossiyskiy statisticheskiy ezhegodnik], 2014, Rosstat;
7. World Development Indicators. Washington. 2014;
8. Yakovets 2013 – Yakovets Yu.V., Global economic transformations of the 21st century [Globalnyie ekonomicheskie transformatsii 21 veka], 2013.
9. Kupriyanova (2014) – Kupriyanova L.M. Innovative processes in the banking sector [Innovatsionnye protsessy v bankovskoy sfere], Scientific journal: the economy. Business. Banks [Nauchnyii shurnal: Economika. Biznes. Banki] 2014 # 1. p. 24-45 [in Russian]
10. Kupriyanova, Usmanova (2016) – Kupriyanovа L.M., Usmanovа T.H. Features of intellectual property economy.[Osobennosti ekonomiki intellektualnoy sobstvennosti] Scientific journal: the economy. Business. Banks [Nauchnyii shurnal: Economika. Biznes. Banki] 2016. N 3 (16). P. 81-94.
11. Kupriyanova, Usmanova (2016) – Kupriyanovа L.M., Usmanovа T.H. Analysis of intellectual property indicators. [Analiz pokazateley intellektualnoy sobstvennosti] Scientific journal: the economy. Business. Banks [Nauchnyii shurnal: Economika. Biznes. Banki] 2016. V. 9. P. 9-23.
12. Usmanova, Kupriyanova (2016) – Usmanovа T.H., Kupriyanovа L.M. Management in the commercialization of intellectual property. [Menedzhment v kommertsializatsii intellektualnoy sobstvennosti] Scientific journal: the economy. Business. Banks [Nauchnyii shurnal: Economika. Biznes. Banki] 2016. V. 1. P. 9-25.

Abstract

Subject / Topic The article discusses the problem of the use of practice-oriented tasks and forming of the subject competency of students within the course”Banking”.

Goals / Objectives To demonstrate experience of the development, implementation and evaluation of practice-based assignment on the topic:”Analysis of loan portfolio”.

Methodology As the methodological tools were used: General scientific methods of cognition, analysis, synthesis, comparison, economic methods of groups, classifications, methods of system analysis, in particular, comparative analysis, classification, grouping, graphical method, methods of financial analysis, economic and statistical methods of processing of digital data, mathematical formulas for calculation of financial indicators of loan portfolio quality, the mathematical methods, used in the assessment of credit risks at crediting, methods of data processing by means of electronic tables in Microsoft Excel 2013.

Conclusions and Relevance Implementation of practice-oriented tasks creates conditions for working out of students’ competence, ensurimg the success of their future professional activity, develops the skills of organization and implementation of analytical and research work, which will enable them to participate in student research activities, and consequently may be useful in professional activity. It also allows to monitor the comprehension of the course and the knowledge of the relevant regulations of the Central Bank of Russia.

Key words: practice-oriented tasks, subject competence, analysis of the loan portfolio, evaluation of competence.

References:

1. Report on the development of the banking sector and banking supervision in 2015 [Otchet o razvitii bankovskogo sektora i bankovskogo nadzora v 2015g]

2. Rozina, Zuev (2014) – Rosina N.M., Zuev V.M. The quality of education of higher education graduates: theoretical and methodological aspects [Kachestvo podgotovki vyipusknikov vuzov: teoretiko-metodologicheskie aspektyi] Humanitarian sciences. The Bulletin of the Financial University, [Gumanitarnyie nauki: Vestnik Finansovogo universiteta]. 2014, N 6, pp. 5-24

3. Actual program of the course, subject “Banking” [Rabochaya programma bakalavriata «Bankovskoe delo»] Financial University [Finuniversitet], 2015g.

4. Banking: a Textbook for students, program “Economics” [Bankovskoe delo: Uchebnik dlya stud., obuchayuschihsya po programme «Ekonomika»] Financial University [Finuniversitet], under the editorship of O.I. Lavrushin [pod red.O.I. Lavrushina] – M: KnoRus. [Knorus], 2015, s.300.

5. The Central Bank of the Russian Federation, March 26, 2004 N 254-P “Regulations on the procedure of formation of reserves for possible losses on loans, loan and similar debt by credit organizations “.

6. Sokolinskaya (2016) – Sokolinskaya N. Uh. Topical issues of special subjects teaching. [Aktualnyie voprosyi prepodavaniya spetsialnyih distsiplin.  Mezhdunarodnyiy nauchnyiy zhurnal] Economy. Business. Banks. [Ekonomika. Biznes. Banki] 2016. N 3 p. 127-135

7. The instruction of Bank of Russia from 03.12.2012 N. 139-I (ed. by 29.06.2016)”On required normatives of banks”(Registered in Ministry of justice of Russia 13.12.2012 No. 26104) [Instruktsiya Banka Rossii] ot 03.12.2012 N 139-I (red. ot 29.06.2016)[“Ob obyazatelnyih normativah bankov]” (Zaregistrirovano v Minyuste Rossii 13.12.2012 N 26104)

8. The Regulation of the Bank of Russia dated 30.04.2008 N 2005-U (ed. by 09.03.2016) “On assessment of economic status of banks” (Registered in Ministry of justice of Russia 26.05.2008 N 11755) [Ukazanie Banka Rossii] ot 30.04.2008 N 2005-U (red. ot 09.03.2016) [“Ob otsenke ekonomicheskogo polozheniya bankov”] (Zaregistrirovano v Minyuste Rossii 26.05.2008 N 11755)

Abstract

Subject / Topic The article discusses modern approach to the work of the teacher in the student auditorium, features of modern student audience, interactive methods in the learning process.

Goals / Objectives To show an increasing role of lecture as a form of work with students

Methodology As the methodological tools were used methods of general scientific knowledge, analysis, synthesis, comparison, economic-statistical methods of digital material processing.

Results The analysis of the current state of student environment was performed. The impact of the new technologies on the students’ attitude to the educational process was shown. The main directions of development of the lecture as the main form of teacher’s work with the students were defined. Interactive teaching methods in the study of discipline “Money, credit, banks” were proposed.

Conclusions and Relevance Historical and cultural changes of the recent years have shown an increase of intensity of information flows and creation of a specific communication environment. Acceleration of the temp of society development, and the need to prepare people for life in a rapidly changing social environment require the development of forms and methods of training in modern high school. Currently, large volumes of information, the development of communication techniques affect a person’s ability to concentrate, significantly reducing it. To attract or shift attention, stimulate thinking process of students in classes, interactive elements should be used during lectures. Interactive lecture is a kind of learning activity, in which elements of traditional lectures are combined with elements of interaction between students and lecturers or students among themselves.

Key words:  lecture, interactive teaching methods, practice-oriented tasks, reasoning, logic.

References:

1. Lavrushin (2016) – Lavrushin O.I. Money, credit, banks: the textbook  [Den’gi, kredit, banki: uchebnik] – M.: KNORUS, 2016.  (Undergraduate). [in Russian]
2. Abramova, Markina (2016) – Abramova M.A., Markina E.V. Monetary and Financial System: the textbook [Denezhno-kreditnaya i finansovaya sistemy: uchebnik] – M.: KNORUS 2016. [in Russian]
3.  Abramova, Aleksandrova (2015) – Abramova M.A., Aleksandrova L.S. Money, credit, banks. Monetary market: tutorial and workshop. [Den’gi, kredit, banki. Denezhno-kreditnyj rynok: uchebnik i praktikum] – M.: Yrait, 2015.   [in Russian]
4. Abramova (2014) –  Abramova M.A. Improvement of the legal and economic basis of money. Monograph. [Sovershenstvovanie pravovyh i ehkonomicheskih osnov deneg. Monografiya] – M.: Rim University, 2014. [in Russian]
5. Abramova (2014) –  Abramova M.A. Formation of high quality infrastructure of the microfinance market and credit cooperatives. Monograph.  [Formirovanie kachestvennoj infrastruktury rynka mikrofinansirovaniya i kreditnoj kooperacii. Monografiya] – M .: RUSNAYS 2016. [in Russian]
6. Abramova (2015) –  Abramova M.A. Situation, Trends and Prospects of Development of cash circulation in Russia. Monograph. [Sostoyanie, tendencii i perspektivy razvitiya nalichnogo denezhnogo obrashcheniya v Rossii. Monografiya] – M.: RUSNAYS 2015. [in Russian]
7. Burakov (2016) – Burakov D. Oil prices, exchange rate and prices for agricultural commodities empyreal evidence from Russia/ – Agris on-line papers in economics and informatics. 2016, №2, 33-47. [ in Czech Republic]
8. Tolstobrova, Yakimova – Tolstobrova N.A. Yakimova M.O. The geopolitical factors in the stage of Russian money circulation. [Vliyanie geopoliticheskih faktorov na stadii rossijskogo denezhnogo oborota]- // Actual problems of modern science. [Aktual’nye voprosy sovremennoj nauki] 2015, №2.7. [in Russian]
9. Pisarev (1981) – Pisarev D.  Literary criticism. Literaturnaya kritika. – M.: Imaginative literature [Hudozhestvennaya literature] V.2, 1981. [in Russian]

Abstract

Subject / Topic The concept of human capital has emerged in 1970s of XX century, however, the personal factor of production always existed in economics as an alternative to this concept; it was elaborated by the followers of classical political economics. When the concept of human capital appeared, it met all claims of scientific knowledge of that time. Nowadays there are many statements of this theory, which do not correspond to reality.

Goals / Objectives This work sets the goal to underline distinct features of personal factor of production in the modern economic theory.

Methodoloy This research reveals results of retrospective analysis of economic terms “capital” and “labour” and brings them into proper correlation. The analysis includes period of time from classical economic school to neoclassical and also representors of Marxism.

Conclusions and Relevance It is impossible to make equality between the capital and labour due to the fact, the labour is connected with a person, and the capital characterizes the inanimate world. The results of work can not be fully transferred to someone instead of the capital.

Keywords: Marxism, human capital, work, personal factor of production, economic diversification.

JEL: J24

References:

1. Akerlof G. и Yellen J. Fairness and unemployment // American economic review, 1988 г. May 78:2.
2. Arthur W.B. Complexity economics: a different framework for economic thought – Oxford : Santa Fe Institute Working paper, 2013 г..
3. Becker G. Human capital – New York: Columbia University Press, 1975.
4. Bergmann B. Measurement, or finding things out in economics // Journal of economic education, 1987 г. – Spring:18:2.
5. Blaug M. The Formalist revolution of the 1950s // Journal History of Economic Thought, 2003 г.- vol.25, no.2.
6. Bronk R. The romantic economist: imagination in economics – Cambridge, UK: Cambridge University Press, 2009.
7. Cassidy J. How markets fail: the logic of economic calamites – New York : Farrar, Straus and Giroux, 2009.
8. Colander D. и Kupers R. Laissez-faire activism: the complexity frame for policy – Princeton: Princeton University Press, 2012.
9. Davis J. The turn in recent economics and return of orthodoxy – Cambridge, UK: Cambridge J. Econ., 2008 г. – vol.32.

10. Farmer J. и Geanakoplos J. The virtues and vices of equilibrium and the future of financial economics // Complexity, 2008 г. – vol.14, no.8.

11. Fisher I. The nature of capital and income – New York: The MacMillan Company, 1906.

12. Fisher I. What is capital? // The Economic Journal, 1896 г.. – Т. 6 (December).

13. Fisher I. What is the Capital? // The Economic Journal, 1896 г.- 6 December: 509-534.

14. Haq M. Reflections on human development – Oxford, UK : Oxford University Press, 1995.

15. Hausmann R. [и др.] The Atlas of economic complexity: mapping paths to prosperity. – Cambridge: , 2011.

16. Hidalgo C и Hausmann R The bulding blocks of economic complexity // Proceedings of the National Academy of Sciences, 2009 г.- (106), 10570-10575.

17. IMF World Economic Outlook Database // IMF. – 15 октябрь 2015 г.[web-site]14апрель2016 URL://www.imf.org/external/pubs/ft/weo/2015/02/weodata/download.aspx.

18. IMF World Economic Outlook Database // IMF.- 15 октябрь 2015 г.- [web-site]14апрель2016 URL://www.imf.org/external/pubs/ft/weo/2015/02/weodata/download.aspx.

19. Johnson H. Monetory theory and policy // The American Economic Review, 1962 г.. – Т. 52.

20. Kelton S. Why is Thomas Piketty’s 700-page book a bestseller? // the guardian. – 21 сентябрь 2014 г.- 22 апрель 2016 г.- URL://www.theguardian.com/money/2014/sep/21/-sp-thomas-piketty-bestseller-why.

21. Keynes J. The general theory of employment interest and money – New York : Harcourt, Brace&World, Inc, 1936.

22. Koppl R. и Luther W. BRACE for a new interventionist economics: Fairleigh Dickinson University, 2010.

23. Krugman P. How did economists get it so wrong? // New York Times.- New York: New York Times, 2009 г.- September 6.

24. Kuznets S. National income and capital formation – New York: National Bureau of Economic Research, 1937.

25. Kymlicka W. Contemporary political philosophy An introduction: Oxford university press, 2010.

26. Lin N. Social Capital: A theory of social structure and action – New York : Cambridge University, 2002.

27. Marx K. Wage-Labour and Capital – New York: International Publishers, 1933.

28. Mirowski P. Machine dreams: economics becomes a cyborg science – Cambridge, UK : Cambridge university press, 2002.

29. Nordhaus W. и Tobin J. Is growth obsolete? // Economic Research: Retrospect and prospect. – New York : National Bureau of Economic Research, 1972. – Т. Vol.5, Economic Growth.

30. Perbisch R. Observaciones sobre los planes monetarios internacionales // El Trimestre Economico, 1944 г. – Vol.11. Num.2. С.188.

31. Piketty Thomas Capital in the Twenty-First Century – Cambridge, Massachusetts, London, England : The Belknap Press of Havard University Press, 2014.

32. Polanyi M. Personal knowledge: towards a post-critical philosophy – London, UK: Routledge, 1962.

33. Ricardo D. Principles of political economy and taxation – London: John Murray, 1817.

34. Schultz T. Investment in Human Capital: The American Economic Review, 1961 г.- Т. 51.

35. Simpson D. Rethinking economic behaviour – New York: St. Martin’s Press, 2002.

36. Smith A. The wealth of nations – London: University Paperbacks, 1904. – Т. Ch.5.

37. Solow R. Technical change and the aggregate production function // Rev. Economics and statistics, 1957 г.- vol. 39, С. 312-320.

38. Strober M. The scope of microeconomics: implications for economic education // Journal of economic education, 1987 г. – Spring, 18.

39. Al’pidovskaja (2015) – Al’pidovskaja M.L. Crisis and contradictions of a modern consumer society or on the way to “New Economy” [Krizis i protivorechija sovremennogo obshhestva potreblenija, ili po doroge k “novoj” jekonomike] // Philosophy of Economy [Filosofija hozjajstva], 2014 g.. – N 4 (94). [in Russian]

40. Gajdar (2015) – Gajdar E.T. Long time. Russia in the world: essays of economic history [Dolgoe vremja. Rossija v mire: ocherki jekonomicheskoj istorii] – Moskva : AST, 2015. – T. S.53. [in Russian]

41. Gobbs T. Essays in two volumes [Sochinenija v dvuh tomah] – Moskva: Mysl’, 1989. – T. T.1. [in Russian]

42. El’meev (2007) – El’meev V.Ja. Social economics of labour [Social’naja jekonomija truda] – Spb :Edition’s St.Petersburg University [Izdatel’stvo Sankt-Peterburgskogo universiteta], 2007. [in Russian]

43. Kornjakov, Al’pidovskaja (2015) – Kornjakov V.I., Al’pidovskaja M.L. Russian “roadmap” and its place in the world economy: obstacles overcoming [O “dorozhnoj karte” Rossii i ee meste v mirovoj jekonomike: preodolenie prepjatstvij] // Vestnik TVGU: economics and management [Vestnik tverskogo gosudarstvennogo universiteta, serija: jekonomika i upravlenie] 2015 g. – 1-1. [in Russian]

44. Marks (1974) – Marks K. Okonomisch-philosophische manuskripte aus dem jahre [Jekonomichesko-filosofskie rukopisi 1844 goda] : Soch.M., 1974. – T. 4[in Russian]

45. Nel’son D. Feminism and Economics [Feminizm i jekonomicheskaja nauka] // Philosophy of Economics. Antholodgy edited by D. Hausman [Filosofija jekonomiki. Antologija / avt. knigi Hausman D.] – Moskva: Institut Gajdara, 2012.

46. Fromm Je. Haben oder sein [Imet’ ili byt’] – Moskva: AST, 2008. [in Russian]

47. Checheleva, Suprun (2012) – Checheleva T.V., Suprun V.A. Information technolodgy in the development phase of the STR and formation of the “new economy” [Informacionno-tehnologicheskij jetap v razvitii NTR i formirovanie “novoj jekonomiki”]// Business in law. Economic-law journal[Biznes v zakone. Jekonomiko-juridicheskij zhurnal], 2012 g. – N 2/2012. [in Russian]

48. Sokolov (2016) – Sokolov V.N. Dichotomy of  two categories: “personal factor of production” and “human capital”[Dihotomija mezhdu kategorijami: «lichnyj faktor proizvodstva» i «chelovecheskij kapital»] //Philosophy of Economy [Filosofija hozjajstva], 2016 g. – N 6 [in Russian]