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The article discusses the main provisions of the book “The response of Russian business to the COVID-19 pandemic (Six industry cases)” and, in this regard, the difficulties and prospects for the development of Russian companies and industries, as well as the national economy in general, under complex sanctions. The short post-crisis development of the six industries presented in the monograph and possible forks for companies and structural policy in the acute phase of the current crisis are analyzed. In addition, it is proposed to consider industries that have not fallen into the focus of the authors’ attention, but are significant for indicating medium-term trends in the development of the Russian economy, such as the production of hydrocarbons, food products, ferrous and non-ferrous metals. On the basis of the results obtained in the book, current development trends at the global and national levels are highlighted. The article notes the need for an integrated approach to the elaboration of state policy and concludes on the possibility and directions for using the lessons of the crisis caused by the coronavirus pandemic, both by the state and business, to transform the principles of management in the new reality. more...

The author investigates possible prospective study areas, concerning Russian SMEs value chains. This article takes into consideration the obstacles and the trends that influence the development of their value-adding activities. more...

The paper systematizes empirical research on the determinants and strategies of outgoing foreign direct investment (FDI) from post-Soviet economies. The interests and strategies of transnational corporations (TNCs) are identified, and the main trends in the activity of Russian manufacturing companies in M&As over the period 1998-2020 are analysed. В статье систематизированы эмпирические исследования о детерминантах и стратегиях исходящих прямых иностранных инвестициях (ПИИ) из постсоветских экономик. Выявлены интересы и стратегиях транснациональных корпораций (ТНК), а также проанализированы основные тенденции активности российских компаний обрабатывающей промышленности в рамках сделок слияний и поглощений за период 1998-2020гг. more...

The article examines the factors of formation of entrepreneurial intentions among Russian students based on data from the Global Student Entrepreneurial Spirit Survey (GUESSS) among Russian students for 2021, where the sample includes responses from 5,408 students across Russia. The data are compared with the results of Russian studies for previous periods, as well as with the national sample for 2021. According to the results of the study, the key factors that determine the choice of young people about further career plans are highlighted. В статье исследуются факторы формирования предпринимательских намерений среди Российских студентов на основании данных Глобального исследования предпринимательского духа студентов (GUESSS) среди российских студентов за 2021 год, где выборка включает ответы 5408 студентов по всей России. Данные сопоставляются с результатами Российских исследований за предыдущие периоды, а также с национальный выборкой за 2021 год. По результатам исследования, выделяются ключевые факторы, которые определяют выбор молодежи о дальнейших карьерных планах. more...

The search for new sources of regional development is important due to the slowdown in economic growth and the need to shift the emphasis of industrial policy from the macro level to the level of regions and individual companies. In this regard, we consider the participation of companies in reputation ratings as a new source for increasing the investment attractiveness of regions. Additionally, we examine the relationship between corporate and regional ratings: corporate ratings demonstrate a company’s compliance with the sustainable development goals, which, in turn, improves the socio-economic performance of regions. We revealed the positive influence of high corporate ratings on the socio-economic development of regions, opening a new area for interdisciplinary research combining corporate finance and regional economics. On the example of 130 biggest Russian public non-financial companies, we obtained several significant results that allow determining the impact of corporate ratings on the socio-economic situation of regions and corporate financial performance. The ratings include Sustainable development Index of the Russian Union of Industrialists and Entrepreneurs (RUIE), Environmental responsibility rating of the World Wildlife Fund (WWF) Russia, and Corporate social responsibility rating of the Association of Managers of Russia (AMR). The calculations showed that the participation of companies in the ratings of WWF Russia and RUIE positively affects the indicators sustainable development of regions where these companies are located. Simultaneously, the influence of companies’ participation in the rating of WWF Russia is higher than the influence of participation in the RUIE rating. In addition, reputation ratings have a positive impact on the return on assets and market capitalisation of Russian companies. Thus, we proved that participation in corporate ratings leads to an increase in performance. However, the effects of participation in various ratings differ. For example, to increase its conditions and performance, a company should be a leader of the rating of RUIE and just participate in the rating of WWF Russia. The rating of AMR influences the market capitalisation the most. The obtained findings indicate the need for expanding the participation of Russian companies in corporate ratings and enable research in the field of sustainable development of companies. more...

In recent years, the topic of ‘digital transformation’ has become a primary focus in the areas of business and research. Among digital technologies, the area attracting the most investment is artificial intelligence (AI). Research shows that AI can benefit corporate governance in a variety of ways. In this article, we identify two academic streams on the topic and evaluate the existing literature. The first stream analyses AI-driven improvements in governance mechanisms such as boards of directors (BoD). The second stream explores the digital-driven organisational changes and broad governance adaptations necessary for AI improvements. We evaluate the evidence for AI implementation in improving and evolving traditional aspects of corporate governance. The examined authors argue that digital technologies transform the nature of a firm, making it less based on traditional sources of authority. There is consensus that this environment calls for fundamental reconsideration of corporate governance and for the revision of regulatory models, moving towards decentralisation. Specific areas examined in these contexts include jobs automation, agency conflict, auditing processes, the selection of BoD members, compliance functions, data analytics, and capital allocation.The examined research indicates that AI improves corporate governance and lowers agency cost by automating decision making using real-time big data analysis. However, while researchers propose multiple novel approaches to governance, practical implementation of those approaches or an empirical analysis of the results of such experiments is yet to occur. Despite the consensus among researchers on the positive impact of AI for governance and implementations as making AI a part of BoD, open questions and skepticism persist. This is indicative of the immaturity of AI as a technology in terms of development and implementation, and as such there is ample scope for future research. We propose multiple areas within this article where opportunities exist for further insight within this burgeoning field. more...

The paper examines the influence of employees' non-cognitive characteristics on voluntary turn-over during the first year of work. The use of a personal characteristics as determinants of turn-over decision is poorly studied in the literature, in contrast to organizational satisfaction and commitment. The methodological basis of the study is represented by the concept of non-cognitive characteristics of J. Heckman (Big-5) and the conceptual provisions of personality psychology. The empirical database is based on the evaluation results of 243 candidates for employment at Sheremetyevo International Airport in 2019 and data on their turn-over during the first year of work. We used probit-model of binary choice to establish that, along with the relative salary and the specificity of skills, such as non-cognitive characteristics as the employee's assessment of his effectiveness, locus of control, and type of thinking affect the propensity to a voluntary turn-over. In addition, a rationally oriented type of thinking and a higher level of self-perception by employees of the effectiveness and significance of work lead to a decrease in the likelihood of a company change in the horizon of one year. В работе исследуются вопросы влияния некогнитивных характеристик сотрудников на факт добровольного увольнения в течение первого года работы. Использование личностных качеств человека в качестве детерминант принятия решения о смене компании слабо изучено в литературе, в отличие от удовлетворенности и приверженности организации. Методологическая база исследования представлена концепцией некогнитивных характеристик Дж. Хекмана («Большая пятерка») и концептуальными положениями психологии личности. База данных эмпирической оценки основана на результатах оценки 243 кандидатов при трудоустройстве в АО «Международный аэропорт «Шереметьево» в 2019 году и данных об их увольнении в течение первого года работы. Использование пробит-модели бинарного выбора позволило установить, что наряду с относительной заработной платой и специфичностью навыков, на склонность к добровольному увольнению влияют такие некогнитивные характеристики, как оценка работником собственной эффективности, локус контроля и тип мышления. Кроме этого, рационально-ориентированный тип разрешения кризисных ситуаций и более высокий уровень самовосприятия сотрудниками эффективности и значимости работы приводят к снижению вероятности смены компании в горизонте одного года. more...

Small and medium-sized businesses have come under scrutiny, thanks to the COVID-19 pandemic crisis. The reason is that an unsustainable business sector is particularly sensitive to sharp fluctuations. Our study is based on 37 field-structured interviews with owners or top managers of companies in the Sverdlovsk Region, and supplemented by materials from official statistics. The article presents the results of the 1st stage of the study of SMEs reaction to the pandemic and post-crisis development in the Ural region and will be continued on the materials of 2 more regions. The results of the survey revealed the special role of self-organization of companies not only by industry, but also by territory in order to raise the awareness of entrepreneurs, and the existing industry business associations have become a conduit in the relationship between business and regional government. Representatives of the construction industry noted significant institutional failures in the relationship with the state on the example of escrow accounts and the organization of tenders, which could jeopardize the net existence of SMEs in the industry and should be regulated at the federal level. During the crisis SMEs received the largest, most diverse and easy to obtain package of state support since the beginning of the market economy in Russia. Малый и средний бизнес стали объектами пристального исследования, благодаря кризису, вызванному пандемией COVID-19. Причина в том, что неустойчивый сектор предпринимательства особенно чувствителен к резким колебаниям. Наше исследование базируется на 37 полeструктурированных интервью с владельцами или топ-менеджрами компаний Свердловской области и дополнены материалами официальной статистики. Статья представляет результаты 1 этапа исследования реакции МСП на пандемию и посткризисное развитие в Уральском регионе и будет продолжено на материалах еще 2-х областей. По результатам опроса удалось выявить особую роль самоорганизации компаний не только по отраслевому, но и по территориальному признаку с целью повышения информированности предпринимателей, а существующие отраслевые бизнес-ассоциации стали проводниками в отношениях между бизнесом и региональной властью. Представители строительства отметили существенные институциональные провалы во взаимоотношениях с государством на примере эскроу-счетов и организации тендеров, что может поставить под угрозу нетеневое существование МСП в этой отрасли и должно быть урегулировано на федеральном уровне. За период кризиса МСП получили самый большой, разнообразный и легкий по получению пакет мер господдержки со времени начала рыночной экономики в РФ. more...

The article assesses the economic consequences of rising mortality of the population suffering with cardiovascular, coronary and respiratory diseases in the Russian cities with extreme temperatures for the period from 1997 to 2017. The data on the temperature on the earth’s surface was collected daily from 1121 weather stations located in the cities with a population over 50,000 people. During the considered period, the number of extremely hot days has increased in 6 regions of the Russian Federation. Moreover, a steady trend towards climate warming has been revealed in 7 Northern regions. On average, in the span of 21 years, Russia had 21 days with extreme temperatures per year. For assessing the effect of extreme temperatures on mortality of the working-age population with selected groups of diseases, we used a panel data model with fixed effects. We have discovered that mortality statistically significantly depends on both low and high temperatures. However, high temperatures impact mortality more than cold temperatures. We have assessed economic losses from mortality of the working-age population as the sum of the regional products’ indicators for the considered period, weighted by the rate of labour force participation and the average number of deaths in the selected population groups. According to average assessments, in the period from 2000 to 2016, for 82 subjects of the Russian Federation the losses amounted to 0.6 % — 0.7 % of Gross Regional Product (GRP) annually. The obtained quantitative assessments can be used in designing the regional development strategies and concepts of smart cities in order to improve the quality of life of citizens. © 2019 Institute of Economics, Ural Branch of the Russian Academy of Sciences. All rights reserved. more...

Category management is a common tool of retail trade which implies product margins to be effectively run through an integrated approach to product category, i.e. control over procurement, pricing, promotion and marketing is centralized. However, category management tools, if borrowed to control procurement in manufacturing companies, cause numerous problems due to some specific restrictions: one part of goods purchased by a manufacturing company is modified during the production process, and the other part is oriented towards the internal customer, rather than external one. The paper develops the method for applying the tools and the introduction algorithm of category management to run procurement in manufacturing companies. The methodological basis of the research includes a system-based approach to forming a logistic system in a company and project approach in management. Through comparing value chains in different sectors, we introduce a fundamentally new concept of category approach to procurement management. Cost analysis helped justify the need for using the category approach within the framework of multi-link technologies so as to reduce procurement costs and solve the problem of increasing the competitiveness of companies. The case studies show that there are two ways to introduce category management in Russian manufacturing companies: category strategy and category team. The use of category team comprised of the representatives from the procurement office and related departments helps overcome cross-functional conflicts of interest and take a fresh look at purchases of familiar products. The team members develop and record a category strategy that describes the current situation in the market for product suppliers and possible optimization options, and regulates further actions on managing the category. The paper specifies the tools and algorithm for adopting the category approach, particularly when choosing a procurement strategy and formalizing it in the documents. more...

With the evolution of digital technologies, the traditional system of doing business has been fractured and many companies now more than ever have to react to digitalization. The digital transformation brings innovation not only into the delivering of product. This research paper purposed to clarify the definition of digital transformation (DT) and to analyze the structured approach with phases, activities and results. This research is based literature reviews that provides insight into the basic understanding of DT as well as the approach, phases, activities and results. Based on this review, the main findings are that although DT is known to a great extent, the path to the structured DT of business models is missing. This paper offers a clear definition of the DT of business models and phases for the DT of business models, also the paper offers examples of enablers and DT. more...

Поиск источников регионального развития имеет большое значение в связи с замедлением темпов экономического роста и необходимостью переноса акцентов в промышленной политике с макроуровня на уровень регионов и отдельных компаний. В статье в качестве нового источника повышения инвестиционной привлекательности регионов рассматривается участие хозяйствующих в них компаний в репутационных рейтингах. Кроме того, раскрыт механизм взаимосвязи корпоративных и региональных рейтингов: корпоративные рейтинги позволяют определить, насколько компании соответствуют целям устойчивого развития, что, в свою очередь, повышает социально-экономическую оценку региона. Впервые обнаружено положительное влияние высоких корпоративных рейтингов на показатели социально-экономического развития регионов присутствия этих компаний, что открывает новый кластер междисциплинарных исследований на стыке корпоративных финансов и региональной экономики. На примере 130 крупных российских публичных компаний реального сектора удалось получить ряд значимых результатов, позволяющих выявить степень влияния трех корпоративных рейтингов (РСПП, WWF и АМР) на рейтинг региона присутствия и эффективность деятельности компаний. Расчеты показали, что участие компаний в рейтингах WWF Russia и РСПП положительно влияет на показатели устойчивого развития регионов их присутствия. При этом влияние участия компаний в рейтинге WWF Russia выше по модулю, чем влияние участия в рейтинге РСПП. Кроме того, обнаружено, что репутационные рейтинги оказывают положительное влияние на показатели доходности активов и рыночной капитализации компаний. Доказано наличие эффекта роста доходности от участия в корпоративных рейтингах. Однако эффекты участия в различных рейтингах различаются: для улучшения условий функционирования компании необходимо лидерство в рейтинге РСПП, а для рейтинга WWF достаточно факта участия. Самое большое влияние на капитализацию оказывает рейтинг АМР. Полученные выводы свидетельствуют о необходимости расширения практики участия российских компаний в корпоративных рейтингах и открывают путь исследованиям действий компаний в рамках устойчивого развития. The search for new sources of regional development is important due to the slowdown in economic growth and the need to shift the emphasis of industrial policy from the macro level to the level of regions and individual companies. In this regard, we consider the participation of companies in reputation ratings as a new source for increasing the investment attractiveness of regions. Additionally, we examine the relationship between corporate and regional ratings: corporate ratings demonstrate a company’s compliance with the sustainable development goals, which, in turn, improves the socio-economic performance of regions. We revealed the positive influence of high corporate ratings on the socio-economic development of regions, opening a new area for interdisciplinary research combining corporate finance and regional economics. On the example of 130 biggest Russian public non-financial companies, we obtained several significant results that allow determining the impact of corporate ratings on the socio-economic situation of regions and corporate financial performance. The ratings include Sustainable development Index of the Russian Union of Industrialists and Entrepreneurs (RUIE), Environmental responsibility rating of the World Wildlife Fund (WWF) Russia, and Corporate social responsibility rating of the Association of Managers of Russia (AMR). The calculations showed that the participation of companies in the ratings of WWF Russia and RUIE positively affects the indicators sustainable development of regions where these companies are located. Simultaneously, the influence of companies’ participation in the rating of WWF Russia is higher than the influence of participation in the RUIE rating. In addition, reputation ratings have a positive impact on the return on assets and market capitalisation of Russian companies. Thus, we proved that participation in corporate ratings leads to an increase in performance. However, the effects of participation in various ratings differ. For example, to increase its conditions and performance, a company should be a leader of the rating of RUIE and just participate in the rating of WWF Russia. The rating of AMR influences the market capitalisation the most. The obtained findings indicate the need for expanding the participation of Russian companies in corporate ratings and enable research in the field of sustainable development of companies. Исследование осуществлено в рамках Программы фундаментальных исследований НИУ ВШЭ. The article has been prepared in accordance with the HSE Fundamental Research Program. more...

The article provides an overview of the current airline development strategies. The factors of flight delays arising from the airline and the airport have been identified, and the availability of payments to passengers has been established. Established plans for further research. В статье проведен обзор стратегий развития авиакомпаний, существующих в настоящее время. Выявлены факторы задержек рейсов, возникающие со стороны авиакомпании и аэропорта, и установлено наличие выплат пассажирам. Установлены дальнейшие планы исследования. more...

Objectives A multicenter study was organized to explore sources of variation (SVs) of reference values (RVs) for 22 major immunochemistry analytes and to determine reference intervals (RIs) for the Russian population. Methods According to IFCC Committee on Reference Intervals and Decision Limits (C-RIDL) protocol, 758 healthy volunteers were recruited in St. Petersburg, Moscow, and Yekaterinburg. Serum samples were tested for five tumor markers, 17 hormones and related tests by Beckman Coulter’s UniCel DxI 800 immunochemistry analyzer. SVs were explored using multiple regression analysis and ANOVA. Standard deviation ratio (SDR) of 0.4 was used as primary guide for partitioning RIs by gender and age. Results SDR for between-city difference was 2 (31%); for the thyroid panel, those with anti-thyroid antibodies (10.3% males; 24.5% females), for CEA those with smoking habit (30% males and 16% females). Gender-specific RIs were required for all analytes except CA19-9, CA15-3, thyroid-related tests, parathyroid hormone, and insulin. Age-specific RIs were required for alpha-fetoprotein, CEA, all sex-hormones for females, FSH and progesterone for both sexes. RIs were generally derived by parametric method after Gaussian transformation using modified Box-Cox formula. Exceptions were growth hormone, estradiol for females in postmenopause, and progesterone for females in premenopause, for which nonparametric method was required due to bimodal distribution and/or insufficient detection limit. Conclusion RIs for major hormones and tumor markers specific for the Russian population were derived based on the up-to-date internationally harmonized protocol by careful consideration of analyte-specific SVs. more...

COVID-19 pandemic has triggered a wave of economic recession around the world due to disruptions in the supply and demand chain in the travel market. This article is an overview of the impact of the crisis at the global and macro-regional levels, and special attention is paid to the consideration of the situation in the aviation industry of the Russian Federation. The work uses data from Flightradar24, IATA, Boeing, etc. As a way to restore the civil air transportation sector, the development of domestic flights for Russia, as a country with the largest territory in the world, is considered. Пандемия COVID-19 вызвала волну экономического спада во всем мире из-за сбоев в цепочке спроса и предложения на туристическом рынке. Данная статья является обзором воздействия кризиса на глобальном и макрорегиональном уровнях, а также отдельное внимание уделено рассмотрению ситуации в авиационной отрасли РФ. В работе используются данные Flightradar24, IATA,Boeing и др. В качестве пути восстановления сектора гражданских авиаперевозок рассматривается развитие внутристрановых полетов для России, как страны с самой крупной территорией в мире. more...

Background: The potential use of plasma galectin-3 level as a of myocardial changes in the development of hypertrophy in males with essential hypertension (EH), carriers of polymorphic variants of II type 1 receptor gene, was studied. The level of brain peptide (BNP), as well as the parameters of central and systemic, and structural and functional parameters of the heart in carriers of polymorphic variants of II type 1 receptor gene, were studied as reference. Methods: The study included 79 individuals with no signs of cardiovascular disease, and 62 males with stage II EH, aged 40-60, who were residents of Ukraine. All patients were treated at the Military Medical Clinical Center of Central Region of Air Forces of Ukraine and Vinnytsia Regional Specialized Clinical Hospital of Radiation Protection of the Ministry of Health of Ukraine, from December 2013 to June 2015. The patients were studied during their treatment at the in-patient department. Anesthetic, clinical and laboratory findings, and measures were entered into a special chart. Biochemical analyses were done upon admission of the patients to the hospital. Immunologic, and instrumental methods of examination were used as well. Statistical analyses of the results obtained were done on a personal computer using standard statistical package STATISTICA 10. Microsoft Excel was used for primary preparations of tables and intermediate calculations. Results: In patients with EH and myocardial hypertrophy, the C allele of angiotensin II type 1 receptor gene was found to be dominating. They had higher levels of both galectin-3 and BNP. The threshold levels of galectin-3 and BNP for screening diagnosis of EH with myocardial hypertrophy in males (who were residents of the Podillya region of Ukraine) were evaluated. more...