Abstract

Subject / Topic The concepts of digitalization, informatization and virtualization of society are developing today. They influence the theory of law, the essence of national law, the development of ideas in general about the prospects for the existence of law, denying natural rights. The doctrine of blurring the differences and connections between real and virtual communications requiring legal regulation is gaining ground, attempts are being made to scientifically substantiate the alienation and transfer of certain traditional functions of legal regulation directly to technical means and digital platforms.

Goals / Objectives The purpose of this article is to show the fallacy and danger of digitalizing the functions of the state, removing the axiological, moral function and national content from law. Digitalization of the law will lead to a mechanicism and reductionism in the understanding of law.

Methodology The methodology of the research consists of comparative legal analysis, formal logical, historical-logical methods in the analysis of the essence and functions of law.

Conclusions and Relevance With the epistemological and further ontological legitimation of digital law, digitalization, digital state, a person, an individual will be considered as a digital, mathematical unit without national culture, language, traditions, philosophy and art. The moral and legal relations between people, a multidimensional social life will be formed by moderators. The trends of digitalization, technocratism, the absence of critical thinking, the absence of political opposition will turn law into a tool of manipulation, a specialized form of total control over society.

Keywords: digital law, digital economy, blockchain, bitcoin, cryptocurrencies, artificial intelligence, digitalization, digital transformation, ethics and law, formal ethics, moral and legal choice

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Abstract

Subject / Topic The topic of the publication is the author’s paradigm of the integration of many disciplines, which, as a consequence of the practical implementation of the education reform of Wilhelm Humboldt (Wilhelm von Humboldt, 1767–1835), filled the educational space of the once unified Natural History; the power of many disciplines is determined by the factorial formula; from 15 basic disciplines (physics, chemistry, biology, sociology, ecology, economics, cultural studies, political science, etc.), more than 1 trillion subdisciplines can be generated at the interdisciplinary junction of 15 basic; in the context of global digitalization of society, the theory of knowledge: epistemology, gnoseology, ontology and philosophy of consciousness require updating from the position of understanding a subset of the basic definitions of highly specialized fields of knowledge of the natural and human sciences for scenario forecasting of the future civilization.

Goals / Objectives Based on the achievements of scientific and technical progress, to evaluate the convergence and divergence of various scenarios of civilization’s life from the standpoint of capitalization of an individual and socialization of society, dichotomy of personal and public, maximization of the profit of 1% of the population and impoverishment of the rest, correlation of natural conditions and virtual reality, replacement of natural products with ersatz.

Methodology Phenomenology, synergetics, system analysis and synthesis, divergent and convergent thinking, similarity theory, analogy method, induction and deduction method.

Conclusions and Relevance On the basis of versatile publications of foreign and domestic scientists, the most probable drivers of scientific and technical progress were identified, the revival of social Darwinism combined with accelerated technocratic development to the detriment of the humanitarian adaptation of the entire population to the digital economy was noted as a negative trend.

Keywords: digital economy, social Darwinism, NBICS technologies, Industry 4.0

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Abstract

Subject / Topic The study of the ways and degree of national currencies convergence in the Eurasian Economic Union.

Goals / Objectives Analysis of the steps taken by the Eurasian Economic Union towards participating countries rapprochement in the financial activities at the first stage of the monetary union. The main purpose of it is the creation of Integrated Currency Market. To achieve this goal, the study was conducted of the EAEU’s effectiveness in terms of enhancing the mutual influence of the national currencies of the participating countries with a view to the subsequent transition to settlements in the currencies of the Union in domestic trade, weakening the influence of external shocks, and the gradual de-dollarization of financial flows between the EAEU member states.

Methodology The methods of comparison and analogy, scientific generalization and graphical analysis.

Conclusions and Relevance The main result of the study is the identification of the formation stages of the EAEU Integrated Foreign Exchange Market and macroeconomic prerequisites for the development of the foreign exchange segment at the Union’s common financial market. The significance levels of the dynamic pair correlation of the national currencies of the Union countries with respect to the “anchor” currency –Russian ruble are determined based on the dynamics of currency trading volumes of all five participating countries, quotes of their national currencies.

Keywords: Eurasian Economic Union (EAEU), integrated currency market (ICM), EAEU national currencies, currency pairs, pair correlation.

References:

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Abstract

Subject / Topic The problems of ensuring business cybersecurity in the context of accelerated development and expansion of the use of information technologies and increased competition are most acute for SMEs, as the most vulnerable economic entities in terms of their a priori weak financial and technical capabilities to protect from cyber threats. At the same time, there is a number of areas of information protection that do not require significant investment and high-quality specialists in the field of IT technologies, for example, in terms of ensuring confidentiality of information. To this end, small and medium-sized enterprises (SMEs) need to introduce a strictly controlled procedure for receiving, transmitting and storing of information, study information flows, and determine the number of persons who have access to confidential information. It is also important to introduce system-wide tool measures to protect business information as the company becomes financially more powerful.

Goals/Objectives The analysis of existing risks for innovative SME enterprises shows that at the current stage of development of the Russian economy, the risks of cyber threats have come to the forefront. The purpose of the research is to systematize the international and domestic experience of innovative small businesses in ensuring the confidentiality of business information and protecting from unauthorized access to information flows. The purpose of the research is to analyze the sources of internal and external threats to the information security of the enterprise’s information resources as an object of protection.

Methodology This research was carried out using general scientific research methods, methods of analogy, comparison and scientific generalization, presenting the results in the form of a list of identified directions and reserves for the development of research objects.

Conclusion and Relevance The cybersecurity of the Russian innovative SMEs in the start-up does not require significant financial investments and may be limited only by working out the order in the work of the business information flow. However, with financial growth of innovative enterprises, SMEs need to identify possible sources of loss of information privacy and implement the methods of hardware control, blocking, hitting viral infection in the local network of the enterprise, etc. For these purposes, it is advisable to use the services of specialized outsourcers.

Keywords: SME, innovative activity, innovative enterprise, IT technologies, business information, cyber threats, cybersecurity, IT-outsourcing, IS-outsourcing.

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Abstract

Subject/Topic The effectiveness of the financial and economic activities of an enterprise is impossible without taking measures to assess the innovative potential. Assessment of innovative potential requires a systematic approach, which is possible in the context of attracting appropriate accounting and analytical tools. In particular, the interaction of the components of innovative potential of the enterprise can be characterized by indicators of elasticity, profitability, susceptibility, activity.

Goals/Objectives The objective of the study is to develop the conceptual foundations of a system of accounting and analytical support for assessing the innovative potential of an enterprise.

Methodology In this work, such methods were used as analysis (theoretical review of the scientific literature on the research problem); synthesis, due to which it was possible to combine the individual parts of the object together (the conceptual framework of the accounting and analytical support system for assessing the innovative potential of the enterprise), as well as idealization and formalization, structural-logical and system-functional, comparative analysis.

Results It has been detected that the decisive role in information and analytical support is given to accounting, therefore, the concept of information and analytical and accounting and analytical support for valuation are often identified. Definitions of the concepts of “accounting and analytical support”, “accounting and analytical system”, “accounting and analytical mechanism” that exist in domestic scientific sources are presented. The conceptual foundations of a system of accounting and analytical support for assessing the innovative potential of an enterprise have been developed, in particular, the goal, object, subject, functions, tasks and components of the system have been identified, which include subsystems of accounting, audit and internal financial control, economic analysis. The generalization of the points of view of the scientists studied in the work concerning approaches to enterprise valuation on the basis of accounting and analytical support, made it possible to determine the key components of innovative potential. It has been determined that despite the absence of a unified methodology and system of indicators, scientists usually apply a unified approach to assessing innovative potential based on accounting and analytical support, which is carried out in two stages: 1) in terms of its constituent elements (varieties of innovative resources) using both quantitative and quality indicators that characterize them; 2) using an integral indicator, for which various approaches to the construction of multifactor models are applied. The main advantages and disadvantages of approaches to assessing the innovative potential of an enterprise based on accounting and analytical support are identified.

Conclusions and Relevance Given the research of domestic and foreign scientists, the interpretation of the concept of “accounting and analytical support for assessing innovative potential” has been clarified. It is proved that solving the problems of the accounting and analytical support system for assessing the innovative potential of an enterprise requires solving existing methodological problems in the accounting system – an objective reflection of the results of innovative processes and development. Assessment of the innovative potential of the enterprise on the basis of accounting and analytical support can help in taking effective management decisions while achieving the competitiveness of innovative products both in the domestic and foreign markets; ensuring the maximum speed of updating products and technologies; optimal use of all types of resources.

Keywords: enterprise, innovation, innovative potential, accounting and analytical support, accounting.

References:

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Bakieva, Gureeva 2018 – Bakieva M.Y., Gureeva O.V. Financial innovations in the Russian economy [Finansovyie innovatsii v rossiyskoy ekonomike], Bulletin of the Saratov State Socio-Economic University [Vestnik Saratovskogo gosudarstvennogo sotsialno-ekonomicheskogo universiteta]. 2018. # 3 (72). P. 16-19 [in Russian].

Balashov 2010 – Balashov A.I. Innovative activity of Russian enterprises: measurement problems and growth conditions [Innovatsionnaya aktivnost rossiyskih predpriyatiy: problemyi izmereniya i usloviya rosta]. SPb, 2010. 206 p. [in Russian].

Baurina 2014 – Baurina S.B. Innovative potential of companies [Innovatsionnyiy potentsial predpriyatiya], Innovations: prospects, problems, achievements [Innovatsii: perspektivyi, problemyi, dostizheniya]. REU im. G. V. Plehanova, 2014. P. 267-272 [in Russian].

Gilmiyarova 2014 – Gilmiyarova M.R. Methodology for increasing the efficiency of cash flow management in the corporate structure [Metodika povyisheniya effektivnosti upravleniya denezhnyimi potokami v korporativnoy strukture], Science and Education in the XXI Century [Nauka i obrazovanie v XXI veke]. ARKonsalt, 2014. P. 89-91 [in Russian].

Guseva 2016 – Guseva E.S. Theoretical aspects of accounting and analytical support for the activities of a commercial organization [Teoreticheskie aspektyi uchetno-analiticheskogo obespecheniya deyatelnosti kommercheskoy organizatsii], Economics: yesterday, today, tomorrow [Ekonomika: vchera, segodnya, zavtra]. 2016. #(6). P.35-42 [in Russian].

Zaglumina 2011 – Zaglumina N.A. Formation of tools for assessing the level of innovative development of an enterprise [Formirovanie instrumentariya otsenki urovnya innovatsionnogo razvitiya predpriyatiya]: author. diss. for the degree of candidate of economic science: 08.00.05 / N.A. Zaglumina. N. Novgorod, 2011. 26 p. [in Russian].

Ivanov 2014 – Ivanov E.A. Essential characteristics and conceptual model of accounting and analytical system [Suschnostnyie harakteristiki i kontseptualnaya model uchetno-analiticheskoy sistemyi], Business. Education. Law [Biznes. Obrazovanie. Pravo]. 2014. # 1. P. 162-166 [in Russian].

Kalnitskaya I.V. Accounting and analytical support in the organization’s management system [Uchetno-analiticheskoe obespechenie v sisteme upravleniya organizatsiey], Economic analysis: theory and practice [Ekonomicheskiy analiz: teoriya i praktika]. 2015. # 17. P. 21-32 [in Russian].

Kirilov 2012 – Kirilov I.N. Theoretical aspects of the development of accounting and analytical support for management decisions in enterprises [Teoreticheskie aspektyi razvitiya sistemyi uchetno-analiticheskogo obespecheniya upravlencheskih resheniy na predpriyatii], Bulletin of the Adygea State University [Vestnik Adyigeyskogo gosudarstvennogo universiteta]. 2012. #2. P. 124-135 [in Russian].

Kozina, Simonenko 2016 – Kozina Y.P., Simonenko L.G. Management of elements of the accounting and analytical system [Upravlenie elementami uchetno-analiticheskoy sistemyi], Actual problems of accounting, analysis and audit [Aktualnyie problemyi buhgalterskogo ucheta, analiza i audita]. Kursk, 2016. P. 369-374 [in Russian].

Omelchenko 2008 – Omelchenko I.A. Development of the accounting and economic system of foreign economic activity [Razvitie uchetno-ekonomicheskoy sistemyi vneshneekonomicheskoy deyatelnosti], Bulletin of Tomsk State University [Vestnik Tomskogo gosudarstvennogo universiteta]. 2008. # 317. 210-216 [in Russian].

Panasenko 2015 – Panasenko S.S. Sectoral features of accounting and analytical support of innovative potential [Otraslevyie osobennosti uchetno-analiticheskogo obespecheniya innovatsionnogo potentsiala], Accounting and Statistics [Uchet i statistika]. 2015. #2 (38). URL: https://cyberleninka.ru/article/n/otraslevye-osobennosti-uchetno-analiticheskogo-obespecheniya-innovatsionnogo-potentsiala (date of access: 08.01.2020) [in Russian].

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Abstract

Subject/Topic The article is devoted to modern problems of compiling and reporting in the field of sustainable business development.

Goals/Objectives The aim of the work is to study the current state of the reporting methodology and practice in the field of sustainable business development and to substantiate promising trends taking into account modern challenges and threats at the national and international levels. To achieve this goal, the following tasks were accomplished: the methodology of forming corporate non-financial reporting in the context of the Sustainable Development Goals was studied, the practice of compiling non-financial reports corresponding to the Sustainable Development Goals was analyzed, the main trends in reporting on sustainable development in international and domestic practice were studied; the results are determined and promising areas for further research are proposed.

Methodology General analysis, comparison and generalization of the data obtained, an integrated approach to the study of the problem was applied.

Conclusion and Relevance Changes in the macroeconomic situation at the international and national levels, the emergence of new challenges and threats have a significant impact on the methodology and practice of the formation and presentation of corporate reports. The adoption at the planetary level of the “2030 Agenda for Sustainable Development” led to the emergence of new emphasis in non-financial reports of the companies: corporate reports of the companies disclose the relationship between the company’s activities in the field of corporate social responsibility and the Sustainable Development Goals. The signing of the Paris Agreement on Climate Change led to the appearance in the reporting on sustainable development of additional information, including additional risks of the company.

Keywords: accounting, non-financial reporting, sustainable development, social reporting, environmental reporting, integrated reporting.

References:

2017 Sustainable Development Goals Report [Doklad o Celyah v oblasti ustojchivogo razvitiya] (UN). URL: https://unstats.un.org/sdgs/files/report/2017/

thesustainabledevelopmentgoalsreport2017_russian.pdf (Date of access 12.02.2020).

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Draft Federal Law “On Public Non-Financial Reporting” [Proekt Federal’nogo zakona “O publichnoj nefinansovoj otchetnosti” (prepared by the Ministry of Economic Development of Russia) (not included in the State Duma of the Federal Assembly of the Russian Federation, text as of 10.10.2019) // ATP Consultant Plus.

Grishkina (2018) – Grishkina S.N. Information support of sustainable development of the agricultural sector of the economy: theory, methodology, practice (monograph). [Informacionnoe obespechenie ustojchivogo razvitiya agrarnogo sektora ekonomiki: teoriya, metodologiya, praktika (monografiya) ]  – M.: Rusyns, 2018. – 226 p.

Grishkina (2016) – Grishkina S.N. Information support of sustainable development of the agricultural sector of the economy: [Informacionnoe obespechenie ustojchivogo razvitiya agrarnogo sektora ekonomiki] Dis. … Dr. Economy. Sciences: 08.00.05; 08.00.12 / Grishkina Svetlana Nikolaevna. – Moscow, 2016. – 464 p.

Grishkina, Sidneva (2014) – Grishkina S.N., Sidneva V.P. Formation and disclosure of information on sustainable development of agricultural business [Formirovanie i raskrytie informacii ob ustojchivom razvitii agrarnogo biznesa // Bulletin of the Orenburg State Agrarian University. – 2014. – No. 5. – pp. 210-212.

Grishkina (2015) – Grishkina S.N. The formation of the mechanism of sustainable development of agricultural business [Formirovanie mekhanizma ustojchivogo razvitiya agrarnogo biznesa] // Economics, labor, management in agriculture. – 2015. – No. 2 (23). – pp. 41-43.

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Grishkina, Sidneva (2015) – Grishkina S.N., Sidneva V.P. Problems of formation and disclosure of information on the social responsibility of agricultural business [Problemy formirovaniya i raskrytiya informacii o social’noj otvetstvennosti agrarnogo biznesa] // Economics and Management: Problems, Solutions. – 2015. – No. 3 (53). – pp. 39-45.

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Abstract

Subject / Topic The article discusses the application of the risk-based approach, using the example of the largest aerospace corporation, the Boeing Company. The choice of this company is connected with the fact that it is one of the world leaders in its industry and meets the highest risk analysis standards. The author considers the effectiveness of the risk-based approach in the analysis. The study was conducted as part of the formation of analytical tools for justifying the placement of funds of the organization. One of the tools of the risk-based approach in the study is regression analysis, designed to identify the statistical relationship between negative events and the market value of the airline.

Goals/ Objectives To explore the advantages of the risk-based approach as a tool of analysis.

Methodology The research was carried out with application of widely used analytical methods and techniques such as the comparison method, statistical data analysis, and the construction of analytical charts. A key element of the analysis methodology in the study was a regression analysis of the relationship between the implementation of negative scenarios and the company’s value.

Conclusion and Relevance The result of the research is a proof of the applied significance of the risk-based approach in tactical analysis when making decisions aimed at preventing the expected risks and possible damage.

Keywords: performance analysis; stakeholders, risk-based approach, risk, regression analysis, statistics, tactical plan of the company.

References:

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Abstract

Subject / Topic Yandex N.V. stock price volatility assessment.

Goals / Objectives Analysis of the methods for calculating the volatility of the shares of Yandex N.V. and application of the results as part of further forecasting.

Methodology The existence of a large number of assessment tools, on the one hand, makes it possible to identify the most effective among them, and, on the other, use our own approaches and methodologies based on priority factors and allowing to identify the inefficiencies of previously developed models. Determination of the risk of volatility of financial instruments leads to the most accurate assessment of both stable state of the company at the moment and its changes in the future. However, the presence of a large number of factors affecting the degree of risk requires consideration of both the models themselves for assessing volatility, but also the reasons for the change. Identification and justification of the criteria for determining volatility will allow the most correct use of the information obtained in order to predict the value of a particular instrument, which is the main focus of the investor. The presence of several models that have become widespread among different types of investors and traders at the moment, will not only allow us to consider the existing disadvantages, but also highlight the advantages for future use.

Conclusion It is necessary to clearly define the method of calculating volatility depending on the chosen forecasting period.

Keywords: volatility, forecasting, estimation models, benchmark, correlation, news background

References:

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Abstract

Subject/Topic The article considers the issues of internal audit of tax optimization, a solution for assessment of its effectiveness is proposed.

The relevance of the topic is connected with the unreasonable use of tax saving methods, which may lead to the significant increase of the tax risks, and in some cases even can be qualified as tax avoidance schemes, which can lead to criminal liability for shareholders and managers of the company. Therefore, the development of approach for internal audit of tax optimization as well as the assessment of its effectiveness is important. Application of formula, proposed in the article, will allow managers and shareholders to evaluate the effectiveness of measures taken as a part of the internal audit of tax optimization in practice.

Goals/Objectives The objectives of the research are: to justify the need for the internal audit of tax optimization, to suggest an approach for risk assessment in the framework of the internal audit of tax optimization as well as to develop a way for assessing its effectiveness.

Conclusions In the framework of the research the need for internal audit of tax optimization was substantiated, an approach for risk assessment was suggested, a model to assess the effectiveness of internal audit of tax optimization was developed.

Key words: audit, assessment of effectiveness of the audit, tax optimization, tax avoidance, tax risk.  

References:

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The Tax Code of the Russian Federation (part 2) dated 05.08.2000 No 117– FZ [Electronic resource] // “Consultant Plus”. Access mode: www.consultant.ru.

Resolution of the Constitutional Court of the Russian Federation of May 27, 2003 No. 9– P “In the case of the constitutionality of the provisions of Article 199 of the Criminal Code of the Russian Federation in connection with complaints by citizens PN Beletsky, GA Nikova, RV Rukavishnikov, VL Sokolovsky and NI Talanova. ”

Kozlov (2017) –  Kozlov P.A. Discussion questions of the concept and goals of tax optimization. // Fiscal policy as a tool to overcome modern barriers to the economic development of Russia: a collection of scientific articles by masters and postgraduate students of the Department of Tax Policy and Customs and Tariff Regulation of the Financial University under the Government of the Russian Federation / under scientific edition of Doctor of Economics, professor Goncharenko L.I., and Doctor of economics, docent, Savina O.N. – M.: Publishing and trading corporation “Dashkov and KO”, 2017. – P.56– 167.

Ryakhovsky, Rudikova (2014) – Ryakhovsky D.I., Rudikova E.V. “Modern theoretical approaches to the classification of tax risks” // Bulletin of IBPS (Bulletin of professional accountants) // –  2014 – No. 5 –  p. 27– 37.

Pinskaya (2009) – Pinskaya M.R. Tax risk: essence and manifestations. / Finance, 2009, No. 2.

Grundel (2017) – Grundel L.P. Tax base optimization tools. / In the collection: EUROPEAN RESEARCH collection of articles of the XI International scientific– practical conference, 2017. –  P. 178– 181.

Chuklaykina (2015) – Chuklaykina M.N. The role of tax planning and tax optimization in the taxation of legal entities [Electronic resource] / Science, technology and education No. 4 (10) – 2015. – Access mode:  https://cyberleninka.ru/article/v/rol– nalogovogo– planirovaniya– i– nalogovoy– optimizatsii– v– nalogooblozhenii– yuridicheskih– lits –  (Date of access: 27.02.2020).

Abstract

Subject/Topic The subject of the research is international economic relations between the WTO member countries and the participants of the food embargo imposed by the Russian Federation.

Goals/Objectives The goal is to analyze the consequences of Russia’s accession to the WTO and the introduction of a food embargo on the Russian economy.

Tasks Research of the situation in the Russian economy under the conditions of Russia’s membership in the WTO and the introduction of a trade embargo by the Russian Federation.

Methodology The study was conducted on the basis of current economic data published by government agencies in Internet.

Conclusion and Relevance In the context of modern reality, when world trade is not so much a game of tariffs as a game of various non-tariff instruments, for producers, importers, exporters and the state as a whole, whether it is a developed or developing country, it is relevant to analyze the consequences of using non-tariff barriers. The relevance of the problem is determined by the lack of development of theoretical issues that cover the analysis of the features of the application of customs tariff and non-tariff barriers, their impact on foreign trade activities and economic development of the country. The purpose of the article is to analyze the impact of Russia’s accession to the WTO and other external factors on its trade turnover and interaction with other countries in the international arena.

Keywords: comparative analysis, analysis and management of trade policy, analytical research, WTO, trade embargo.

References

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598305b79a7947fdd8de81e3 (Date of access: 01/15/2020);

Nikiforova (2019) – Comprehensive economic analysis. Textbook / Moscow, Publisher: Company KnoRus (Moscow), 2019.

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Abstract

Subject/Topic The modern society of many countries of the world is constructed in such a way that from the beginning of professional activity the citizen should care for his old age provision – a pension. Of course, every person wants to live with dignity at the onset of retirement age, and therefore tries to work under the official contract, so that employers can transfer money to the Pension Fund.

“The problem of balance of the Pension Fund of Russia in the present conditions” is a relevant topic in the current economic conditions.

Goals/ Objectives The purpose of the study is to analyze the problems of balancing the Pension fund of Russia in modern conditions. To achieve the goal in the framework of this study, the history of the PFR was considered, its functions and tasks were studied. The content and possible alternatives to the pension reform in the Russian Federation are considered.

Methodology The information processing was carried out by using the principles of a systematic and integrated approach. Methods of analysis, comparison, generalization were applied.

Conclusions and Relevance Currently, there is such a tendency that modern society is aging, therefore, the questions about pension provision are being raised more and more often, since such a situation requires a transition to the accumulative mechanism for the formation of a future pension. The implementation of this idea takes place with the help of the pension reform, which is implemented by the relevant authorities.

As part of this study, a possible alternative mechanism was proposed that could replace the reform of the pension system in respect of the raise of retirement age.

Keywords: pension system, pension fund, pension reform, balanced budget of the Pension Fund

References

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Abstract

Subject / Topic Company growth and its successful competition in international markets is impossible without a competent investment strategy. The company’s management is facing with the task of generating an effective investment strategy, which should ensure long-term business growth. An effective investment strategy of the company is based on existing strategic assets and competencies in market segments, where company can create a competitive advantage.

Goals / Objectives The article discusses the theoretical aspects of developing an investment strategy for transnational corporations. Based on the systematization of the theory and analysis of Rosneft company, the goal of the study is to determine such an approach to the development of an investment strategy that would allow to choose the optimal investment directions for the company, taking into account the existing production and financial potential.

Methodology In the study the author has applied such research methods as analysis, generalization, statistical method, mathematical and others.

Conclusion and Relevance The development of an effective investment strategy plays one of the most important roles in the company’s development. The investment strategy maximizes the rational use of the company’s investment resources and increases its competitiveness in the market.

Keywords: investment strategy, transnational companies, investments, PJSC “NP “Rosneft”.

References:

World Investment Report // UNCTAD publication, 2019

Official website of Rosneft company URL: https://www.rosneft.ru/ (date of access 10.03.2020)

Rosneft [Elektronnyy resurs] / PAO NK «Rosneft’». – Electronic resource. – [B.m.], 2019. – URL: www.rosneft.ru (date of access: 15.03.2020).

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Fundamentals of management / under ed. A.I. Afonichkina. – SPb.: Piter, 2017. – 528 p.

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Nikiforova, Kupriyanova (2017) – Nikiforova E.V., Kupriyanova L.M. Sustainable development as a strategy of modern company [Sustainable development as a strategy of a modern organization] Science Magazine: Economy. Business. Banks [Economy. Business. Banks] 2017, No S3, p. 96-102.