Russian Companies Research Articles

Перспективы развития краудлендинговых платформ в современной российской экономике

Introduction. The changes in the economic situation, which happened after certain events of February 2022, required significant investment in the development of small and medium-sized businesses. Parallel imports, new market niches to be fulfilled after foreign producers had left, the desire to preserve and increase capital while experiencing ruble devaluation– these and other reasons formed the basis of crowdlending studying in this paper. Theoretical analysis. The growth rates of the crowdlending market in Russia are analyzed and the dynamics of crowdlending and bank loans to small and medium-sized businesses are compared. Empirical analysis. Based on the example of the company “JetLend” LLC, an analysis of the requirements for borrowers and investors, the stages of potential borrowers’ business checking were carried out. A comparative characteristic of the JetLend, IFX Cbond, Cbonds-CBI RU High Yield indices is presented, which suggests that during 3 years, an average investor of the JetLend platform had a higher yield than if he owned a portfolio of high-yield bonds or bonds of the most liquid companies in Russia. Results. Positive and negative aspects of using crowdlending for both investors and borrowers are summed up. It is concluded that crowdlending is a promising tool for small and medium-sized businesses, especially for those economic entities which do not have collateral, credit history or other factors necessary for a bank loan.

On the issue of adaptation of foreign workers in russian companies

Within the framework of this article, the problem of adaptation of foreign workers in Russian companies is considered, the results of the study are presented, demonstrating that for 54% of respondents from among foreign workers, adaptation is difficult, accompanied by difficulties in professional activity, discomfort and difficulties in establishing interpersonal relationships in a new workforce.

Energy transition of the largest Russian oil and gas companies in the context of sustainable development of Russia

Subject. The article addresses prospects for using the renewable energy sources, the impact of greenhouse gas emissions on the Earth's climate. Objectives. The purpose is to determine relationship between environmental policy of the largest mineral companies in Russia and the principles of sustainable development, enshrined in international agreements. Methods. The study employs methods of comparative analysis. Results. We developed a rating methodology for companies, depending on the degree of their participation in the energy transition. In the process of energy transition, the largest Russian companies pay the most attention to technological improvement of oil and gas processing and production facilities. Conclusions. When designing long-term development strategies, Russian energy companies are increasingly focusing on compliance with the principles of environmental responsibility.

International trade of the Russian Federation under external sanctions pressure

In the context of external sanctions pressure from the United States and EU countries, Russian companies faced a number of problems: violation of well-established logistics, restrictions on the export of goods from the EU countries. Trade relations are being revised. To ensure uninterrupted trade, import support measures have been introduced, the schemes for importing goods are changing and multimodal transportation is being used.

The Relationship Between the Strategy of Russian Companies and Their Policies in the Field of Human Capital

In modern conditions of instability of the national economic system, the question of effective strategic planning and implementation of an organizational strategy covering all levels of the corporation becomes relevant. The post-pandemic period and the shock year 2022 for many Russian companies forced the top management of many corporations to respon3d flexibly to the current realities of the global market, changing previous strategies. Interesting in this regard are the factors that shape the organizational strategies of the corporations under study. The author presents an attempt to analyze the effectiveness of Russian companies from the chosen type of strategy in relation to the policy in the field of use of human capital. In particular, economically important companies using classical planned and classical process strategies are considered. Based on the study, it was revealed that there is a relationship between organizational strategy and management policy in the field of human capital; moreover, the higher it is, the more successful companies are (expressed in caring for employees). Also, as a distinctive factor shaping organizational strategies, the author identified the policy in the field of labor protection and industrial safety (which is a feature of companies with a classic process strategy).

ЭКСПОРТНЫЙ ПОТЕНЦИАЛ РОССИЙСКОГО ФРАНЧАЙЗИНГОВОГО РЫНКА

The article is devoted to study the issue of Russian franchises export potential, which is relevant due to the steady positive dynamics of Russian franchising market over the past few years and the new geopolitical reality. The purpose of this paper is to identify the main factors that indicate the readiness of domestic franchises to enter foreign markets, as well as to identify promising export regions. The article examines the evolution of Russian franchising development, confirming its effectiveness as a way of scaling business, and resistance to economic crises. Special attention is paid to Russian franchises already operating in the international market: the main problems of going abroad are revealed, connected with the necessity of “immersion” in the local market, the difficulty of adaptation to the conditions of doing business in a new country, national peculiarities, high financial costs. At the same time, the article analyzes a set of state support measures aimed at solving the problems of entering foreign markets and stimulating the international expansion of Russian companies. The study reveals trends and prospects for the development of Russian franchise exports, considering the capabilities of the franchise model and the conditions of the new economic reality.

Digital tools as a key element of human resource management technology in the conditions of digital transformation

Aim. To identify technological features of human resource management (HRM) in the conditions of digital transformation.Objectives. To describe the main directions of HRM technology transformation in modern conditions; to define the concept of "digital tools"; to systematize the digital tools used in modern conditions; to identify promising directions of using digital tools on the way of digital trans- formation.Methods. The authors used in the research process the methods of contextual analysis, modeling terms and models, induction and deduction, synthesis and description, applied methods of comparative, system and structural analysis.Results. The outcome of the digital transformation of business is a progressive process, which in the end will radically affect the functioning of personnel. In this regard, the concept of "digital tools" of HRM is defined, their relationship with HRM technologies is revealed. It is revealed what digital tools are most often used today in Russian companies, whether there is their classification by forms of application and whether digital tools affect the technological process of HRM. The peculiarity of applying HRM tools from the possible set of tools is its scientific substantiation on the one hand and the practice of its application on the other. The basis is the orientation on the solution of a certain problem faced by the company in the current period. In order to get an effective effect, it is necessary to refuse from haphazard ap- plication of tools. A technological process of HRM should be formed, which will be based on a clearly structured sequence of actions that are interchangeable. An important element that should be paid close attention to is the understanding that the new information reality will place increased demands on the competencies of personnel. The article emphasizes that the digital transformation of business should be carried out progressively, taking into account the timely mastering of new digital competencies by employees.Conclusions. The digital transformation of business taking place today launches new, previously unobserved processes that cover all spheres of functioning of real commercial enterprises. Business can get a new quality both in the aspect of formation of management decisions on an objec- tive basis and in the framework of HRM. In this regard, it is safe to say that we are waiting for a systemic restructuring of the main business processes and, as a consequence, the introduction of new HRM tools, on the basis of which it will be possible to design digital HRM technologies.

Reorientation of the Russian fuel and energy complex to new sales markets and changing export opportunities under sanctions pressure: challenges and prospects

The article is devoted to the study of Russia's interaction with key partners in the energy sector after a new round of sanctions pressure from the United States and Western countries. The article hypothesizes that the stability of the Russian fuel and energy sector after the introduction of restrictive measures is associated with the substitution of energy exports to eastern markets. The purpose of the work is to assess the prospects for the development of the fuel and energy complex of the Russian Federation under the conditions of sanctions pressure. The author examines such aspects of the topic as: changes in the volume and directions of exports of Russian energy resources, measures taken by Russian companies and the state to circumvent sanctions. Special attention is paid to the analysis of Russia's trade relations with China and India, including the dynamics of oil and gas exports, the impact of secondary sanctions on the business of these countries, and the adaptation of financial mechanisms to continue cooperation. The problems related to the trade balance and the use of national currencies in mutual settlements are also considered. In this paper, the author analyzes Russia's interaction with key partners in the fuel and energy sector through the paradigm of neorealism in the international relations theory. The methodological basis of this work is a problem-chronological scientific approach. The author also applied other general scientific research methods, including induction and deduction, as well as logical construction based on trend extrapolation. The author concluded that Russia has successfully reoriented energy exports to the markets of China and India after a new round of sanctions pressure in 2022. Secondary US sanctions put pressure on Chinese and Indian companies, in connection with which states refuse to conduct some transactions, but this does not lead to a significant decrease in energy supplies from Russia. The development of trade relations with China and India contributes to the preservation of Russian budget revenues from the oil and gas sector. A special contribution of the author is the analysis of adaptation strategies used by Russia, China and India to circumvent sanctions restrictions. The impact of sanctions on financial mechanisms and the trade balance between these countries is also assessed. At the same time, a comprehensive analysis of current and prospective export directions of Russian energy resources in the context of sanctions pressure has been carried out.

Oil and gas in Lebanon: shattered expectations

The article is dedicated to the peculiarities of the oil and gas policy of the Lebanese Republic - one of the few countries in the Middle East that does not engage in hydrocarbon extraction. The issue of oil and gas production in Lebanon remains insufficiently studied, although certain aspects of Lebanon's oil and gas policy have been touched upon by Russian scholars in the context of the Lebanon-Israel multiyear maritime border dispute. The author examines Lebanon's attempts to discover oil and gas in the 20th and 21st centuries against the backdrop of the complex political and economic situation in the country, describes the procurement process, in which Russian companies were also involved, and addresses the legislative framework for hydrocarbon production and exploration. The article explores the prospects of significant hydrocarbon reserves in Lebanon, with special attention paid to exploration in the country's exclusive economic zone (EEZ). According to experts, Lebanon possesses substantial oil and gas potential, as evidenced by the discovery of significant gas deposits offshore Israel and Cyprus. However, initial drilling in Lebanon's EEZ did not confirm the presence of commercially viable hydrocarbon reserves. It is concluded that the unstable political situation in the country, as well as the dispute with Israel over maritime borders, significantly hindered exploratory drilling offshore Lebanon. The unsuccessful tender process in recent years indicates Beirut's insufficiently effective oil and gas policy. The author believes that even if confirmed oil and gas reserves are discovered, Lebanon's economic crisis cannot be resolved in the foreseeable future due to weak governance and a lack of developed infrastructure for hydrocarbon export.

On the issue of contour transformation of international settlements in the context of increasing geopolitical risks and fragmentation of the global financial and economic area

Subject. Given the increasing geopolitical risks, new approaches are needed to organize the contour of the international payment system, which ensures safety and reliability of international settlements Objectives. The article aims to assess the approaches of the Committee on Payment and Settlement Systems to creating models of international payment systems, propose a model for organization of international settlements for the Russian Federation, identify the specifics of the existing models of national payment systems of the Russian Federation and PRC for organization of interaction within the framework of the international payment system, evaluate prospects for joining the international payment system of other BRICS countries. Methods. The study employs general scientific methods. Results. Based on the specifics of restrictions on international operations of residents of the Russian Federation, the optimal solution to the problem is to create a closed international payment system on the basis of the payment system of the Bank of Russia, and gradually connect payment service providers from friendly jurisdictions to it, the most promising of which is the Chinese payment system CIPS. Creating a separate international payment system based on Peer-to-Peer type payment infrastructures, using digital currencies of central banks of BRICS countries is a promising model of the organization of international settlements. Conclusions. Building a closed international payment system on the basis of the Bank of Russia's payment system will enable to significantly overcome the existing problems, provide Russian companies and banks with a reliable and safe settlement mechanism for foreign trade and financial transactions.

Responsible Innovations as Tools for the Management of Financial Risks to Projects of High-Tech Companies for Their Sustainable Development

This paper is devoted to the resolution of the problem of risk management in a high-risk market environment. The goal of this paper was to study the experience of and prospects for the use of responsible innovations as tools for managing the financial risks of high-tech companies’ projects for their sustainable development (using the example of companies in Russia’s IT sphere in 2022–2023). We used the SEM method to study the daily statistics of the Moscow Exchange in 2022–2023. As a result, we quantitatively measured the financial risks of Russian companies in the IT sphere in 2022–2023. The studied case experience of the IT sphere in 2022 confirmed that Russian high-tech companies actively implement responsible innovations based on ESG projects. Our main conclusion is that the financial risks of high-tech companies are reduced in the case of the implementation of responsible innovations. Therefore, it is advisable to implement responsible innovations for the sustainable development of high-tech companies in a high-risk market environment. The theoretical significance of our conclusions lies in the substantiation of the synergetic effect of financial risk management with the help of responsible innovations. The scientific novelty and contribution of this paper to the literature consist in its clarifying the sectorial (in the IT sphere) and market (in a high-risk market environment) specifics of managing the financial risks to companies. We also disclosed a poorly studied and largely unknown unique and leading experience of managing the financial risks of Russian high-tech companies in 2022–2023. The practical significance of our recommendations is that the compiled scenario can be used as a strategic benchmark for the most complete development of the potential of the sustainable development of Russian high-tech companies in 2024.

Strategy of Finance Service Development in the Field of Collecting and Recycling Solid Municipal Waste in Regions of the Russins Federation

An acute problem facing today’s society is collecting and recycling solid municipal waste (SMW). The author studies this problem on the basis of the growing speculative factor dealing with enormous amount of poorly used SMW and shortage of budget funds for their efficient management and recycling. The goal of the article is to work out effective strategies to raise investment to this field and to raise finance stability of the system of SMW collecting and recycling. To reach this goal the author proposes to analyze the current condition of the industry, study best practices of international and Russian companies and identify hindrances and challenges that bar the development of finance services in the sector. It should be mentioned that successful development of finance services in the field of SMW collecting and recycling requires a complex approach including not only elaboration of new finance mechanisms but instructing people for principles of separate collecting and recycling waste and upgrading technologies of SMW recycling and utilization.

НОВАЯ МОДЕЛь ЭКОЛОГИЧЕСКОГО ОБУЧЕНИЯ И РАЗВИТИЯ ПЕРСОНАЛА

Environmental training is an important component of the environmental management system as a basic practice for developing knowledge and skills among employees to effectively reduce environmental impact. However, new types of environmental training are necessary to shape the environmental behavior of employees at all levels of the organization. This is due to the increase in environmental issues and their integration into all business processes. The article presents a new model of environmental training through the comprehensive development of employees’ value, knowledge and activity components of environmental competence. This became possible based on an analysis of research on green human resource management (GHRM) and an analysis of the practices of leading Russian companies. This model should include mandatory environmental training and practices to develop environmental leadership, green teams to address significant environmental issues, and practices to develop employee environmental values.

Управление программой ESG-трансформации компании

This paper examines practices related to ESG-business transformation in the scientific field, as well as studies the practical implementation of such in the retrospect of some Russian companies. A unified step-by-step ESG transformation framework is developed as a result of an analysis, which can later be used for subsequent scientific research and practical application in the business environment.

Problems and prospects of management of foreign economic activity of Russian companies under conditions of sanctions

The article reveals the main problems of managing the foreign economic activity of Russian companies in the context of the sanctions. The presented analysis of the dynamics of export and import development over the period of 2018–2023 made it possible to identify the main prospects for the development of foreign economic activity in the conditions of sanctions. A conclusion was obtained on the need to implement a set of proposed measures to stabilize the economic situation and search for new partners in the conditions of the sanctions regime.

Technological aspects of Russian hydrogen energy development

Russian hydrogen industry exists more than 100 years and is one of the biggest in the world. In 2021 Russia produced more than 5 mln tons of hydrogen (the 5th place in the world after China, US, EU-27, India), more than 1 mln tons of hydrogen were exported as hydrogen-contained production (ammonia, methanol, fertilizers).Following the global trends in the growth of production and use of hydrogen as an energy carrier, which plays the role of an important tool for reducing greenhouse gas emissions, decarbonization of energy, as well as the use of hydrogen in the transport sector and industry, the analysis of the current state and prospects for the development of hydrogen energy in Russia is carried out, the technologies of low-carbon hydrogen production at electric power, oil- and gas processing, logistics and technologies of transportation and storage of hydrogen, the world's leading and promising Russian developments are analyzed, the feasibility of their application in Russia is assessed.The main technology for hydrogen production in Russia remains SMR: by using this technology more than 95 % of hydrogen is produced. At the same time, electrolyzers are present in many industries (oil refineries, power generation, hydrometeorology, microelectronics, food industry etc.). Russian nuclear power plant giant Rosatom is seriously studying the possibility of producing hydrogen in nuclear power plants by using high-temperature technologies.There are no main hydrogen pipelines in Russia (only internal technological pipelines) because big industrial plants that use hydrogen construct their hydrogen facilities on-site. Smaller amounts of hydrogen are delivered to the customers in a compressed state and stored in steel cylinders or reservoirs. Currently, Russian companies and organizations process development in hydrogen transportation and storage in compressed (up to 700 bars, including polymer reservoirs), liquid and bound states.In addition to traditional hydrogen consumers (hydrocarbon refineries, chemical plants) and metallurgy (7 furnaces for iron production) Russian companies and organizations develop hydrogen energy storage units, and there are pilot projects in the commercial and heavy vehicles, buses, river boats).

Coverage of The ESG Agenda in Russian Companies: Metrics and Distribution Strength

The article empirically studies the level of implementation and dissemination of environmental, social and governance (ESG) principles in Russian companies. The study is based on the analysis of non-financial reports of 109 companies for 2022, representing various sectors of the economy. The key focus is on assessing ESG metrics, which, according to the research results, remain unevenly integrated despite the progress in the field of ESG. Many companies are actively introducing ESG components, but a significant proportion of them are at an early stage of this process. The findings highlight the need to further strengthen the ESG agenda in Russian companies and can serve as a basis for further research in this area.

Банкротство энергетических компаний в России и Китае: правовое регулирование

This article compares Russian and Chinese legislation on the bankruptcy of energy companies employing a comparative analysis method, identifies similarities and differences in legal regulation. The theoretical relevance of this work is to identify the main legislative approaches to the legal regulation of bankruptcy of energy companies in Russia and China, thereby providing a foundation for further research on this issue. The practical relevance of this work is the possible use of the best practices of legal regulation of bankruptcy relations of energy companies in Russia and China. Despite the significant influence of state regulation on the economy, both in Russia and China, bankruptcy legislation generally corresponds in its content to market standards of bankruptcy regulation. In terms of bankruptcy regulation of energy companies, Russian bankruptcy legislation, unlike Chinese legislation, has more specific features. Chinese bankruptcy legislation is supplemented by the decisions of the State Council of the People’s Republic of China and the practice of higher courts, as well as by widely used conciliation procedures.

Interpretation of ESG: Systematic literature review

Purpose: this study aims to analyze the interpretation of the concept ESG in Russian-language publications in the scientometric database of the Russian Science Citation Index. Methodology: the literature review is conducted according to the international PRISMA standard by using frequency, correlation and cluster analysis methods of the keyword corpus. Findings: national researchers interpret the concept ESG primarily from the perspective of enterprise development management and investment decision-making. Since 2019 there has been observed an exponential growth of Russian-language papers which mention the abbreviation ESG, however, this study has not identified any consistent pattern of forming the keywords list. Additionally, no meaningful relationship between the relevant keywords and the paper citation rate is observed. Originality and contribution: this study is an attempt to fill the gap in systematic reviews of the Russian-language scientific literature on the interpretation of the concept ESG and to contribute to its rethinking as regards the management of companies in Russia.

Маркетинговые программы современных фармацевтических предприятий

The article is devoted to comparative analysis of the experience of marketing programs development used by pharmaceutical industry organizations operating both in Russia and in foreign countries. The relevance of the chosen topic is explained by the fact that, while trading in specific goods, it is important for the pharmaceutical industry to develop and implement the program containing the main aspects of product promotion, attracting consumers, and increasing the efficiency growth. The research methods are characterized by comparative analysis and information synthesis. The purpose of the study is to summarize the experience of domestic and foreign pharmaceutical companies in marketing programs development, taking into account the specifics of the main products. The results of the study are identification of the main tools used to attract and retain customers. The obtained results can be used by pharmaceutical companies in Russia to improve the quality of interaction with potential customers using the Internet, which determines the general vector of marketing programs for the development of pharmaceutical industry organizations. In the work domestic pharmaceutical industry is characterized as an object of marketing research. Development features of Russian pharmaceutical sector are highlighted, and theoretical analysis of marketing program concept is carried out. The author's interpretation of marketing program concept for pharmaceutical enterprise is proposed, and the stages of marketing program formation are highlighted. Peculiarities and general features of marketing program formation for domestic and foreign manufacturers are determined.