Industry Affiliation Research Articles

How do financial spatial structure and economic agglomeration affect carbon emission intensity? Theory extension and evidence from China

This study investigates the mechanism of a financial spatial structure and economic agglomeration on carbon emission intensity by combining a reconstructed financial spatial structure indicator that integrates spatiality, industrial affiliation, and competition with a theoretical model of financial spatial structure and economic agglomeration impacts on carbon emission intensity under increasing returns to scale assumption. We employ a dynamic spatial Durbin panel model with data from provinces in China during 2005–2017 to validate the theoretical mechanism. The results indicate that both short- and long-term financial spatial structures can mitigate carbon emission intensity, thereby demonstrating spatial and temporal lock-in effects. However, economic agglomeration and energy intensity promote carbon emission intensity with only temporal lock-in effects. Moreover, the financial spatial structure tends to have a smaller but more far-ranging, long-term impact. The analysis implies that promoting financial spatial restructuring through strategic credit allocation, industrial linkage, and competition and mitigating economic agglomeration are crucial to expedite the process of “carbon peak and neutrality.”

Classification of Procedural and Legal Regulation

The authors' approach to the little-studied problem of procedural and legal regulation classification is presented. It is based on a general theoretical approach to the classification of legal regulation in general, as a result of which the classification of procedural and legal regulation by levels is methodologically justified: normative procedural, individual procedural and subnormative procedural regulation, as well as by industry affiliation (subject of procedural and legal regulation): constitutional procedural, civil procedural, arbitration procedural and administrative procedural.

ФОРМУВАННЯ БЮДЖЕТУ ПРОЄКТУ ФІНАНСОВО-ЕКОНОМІЧНОЇ ГРАМОТНОСТІ ДЛЯ ДІТЕЙ ДОШКІЛЬНОГО ТА МОЛОДШОГО ШКІЛЬНОГО ВІКУ ЗАСОБАМИ MICROSOFT OFFICE PROJECT

The financial services market is developing rapidly in today’s dynamic world. The financial inclusion of our compatriots directly depends on their financial and economic literacy. Therefore, awareness of Ukrainian citizens with financial and economic terms, as well as the basics of financial transactions should take place in childhood. The aim of the article is to draw up the budget of the educational project of financial and economic literacy for the children of preschool and primary school age with the help of the Microsoft Office Project. The article describes the features of the project (purpose, existing hierarchical goals, coordinated implementation of related actions, time frame, availability of the budget, uniqueness). The project of financial and economic literacy for the children is classified into certain types of projects according to different classification criteria (scale, duration, industry affiliation, functional direction, the nature of the parties involved, the degree of complexity, the composition and structure of the organizations involved, the requirements for project quality, the degree of binding, the degree of communication, the number of participants). The step-by-step algorithm of project development from the establishment of the project team to project budget formulation is created and described. Methods used: SWOT-analysis (to identify strengths and weaknesses, threats and opportunities of the project), critical path (for planning project work), budgeting (for project budgeting). The algorithm of automated scheduling of project tasks in the Microsoft Office Project program is described. The project budget includes the costs of printing presentation materials; creating drawings to explain the financial and economic terms that will be used in the children’s book; creating a layout and printing a children’s book; creating a cartoon; creating a project web page; remuneration of teachers for conducting training sessions. The time frame of the project was 5,5 months. The universality of the project is indicated, as it can be implemented by teachers of economic departments of any institution of higher education in Ukraine. It is noted that the developed project of financial and economic literacy for the children can serve as a basis for other educational projects in preschool or school education or for similar projects of financial and economic literacy, where the target audience will be middle and high school students studying in general secondary education institutions, gymnasiums, lyceums.

About intersectoral relations in law: Some aspects of the categorical apparatus

The problem of legal facts is little studied in the science of domestic labor law. In particular, the problem of an employment contract as a complex legal fact by its nature needs additional analysis, and it is impossible to recognize as satisfactory the formulation of the question of transactions in labor law, and their essence and place in the system of legal facts. This article argues for the idea of the existence of an employment contract as a source of subjective rights and obligations of the parties, and of different industry affiliation. Unlike other legal facts, an employment contract, along with such legal facts as unilateral transactions, management acts, and judicial acts, has a unique ability not only to give effect to the rights and obligations set out in the dispositions of legal norms, but also to generate subjective rights and obligations of the employee and employer itself. In addition, the question is raised about the possibility of an employment contract as a source of objective labor law. This is due to two kinds of factors: like the so-called “absolute legal relationship” by virtue of the current employment contract, no third party has the right, under pain of legal liability, to hinder the parties in their actions to implement the rights and obligations assumed; in addition, the system of employment contracts is one of the factors in the formation of the internal legal order of the organization. The problem of transactions in labor law is subjected to special consideration. The interpretation of labor law transactions as a generic category is proposed, generalizing unilateral labor law transactions and labor contracts as varieties.

Портрет малых инновационных предприятий России: регионально-отраслевой срез

Introduction: the successful activity of small innovative enterprises is one of the indicators of a sustainable economy. However, only an insignificant part of those meets the high standards bringing them to innovation ratings. Objectives: to form a profile of the most successful small enterprises engaged in innovative activities, and to determine the parameters of its change for 2016–2020. Methods: general scientific methods of cognition: dialectical, decomposition, synthesis, generalization, analogy, as well as economic analysis. Results: the typology proposed by the authors has been used as the basis for forming a profile of the most successful small innovative enterprises. The typology is based on the frequency of entry in the “TechUspech” rating. The typology features six groups of enterprises: “stable leaders”, “leading”, “aspiring”, “unstable”, “beginners”, “random”. The type of economic activity, regional affiliation, number of employees, revenue growth rate, net profit, goals and types of investment strategy of small innovative enterprises included in the “TechUspech” rating are analyzed. Conclusions: the following profile characteristics of a successful small innovative enterprise presented in the “TechUspech” rating has been received: this is an enterprise in the field of information and communication technologies located in Moscow, St. Petersburg, Novosibirsk or Tomsk regions; rated in “beginners” or “aspiring” groups; with net profit of 100–150 million rubles but showing its fall by 2020; focused on achieving financial stability and reducing investment risks. The biggest changes over the period have been identifies in such parameters as industry affiliation (in 2016, these were enterprises in the “materials and chemistry” and “engineering industries”), regional affiliation (Moscow region, the Republic of Tatarstan, Perm region), net profit (previously positive dynamics was obvious).

Determination of the legal nature of the surrogate motherhood contract and its industry affiliation within the framework of assisted reproductive technologies

<h3></h3> В последнее время широко используются вспомогательные репродуктивные технологии (ВРТ). В то же время законодательное регулирование взаимоотношений и ответственности между участниками программ ВРТ остается несовершенным. В части 9 Федерального закона Российской Федерации от 21 ноября 2011 г. №323-ФЗ «Об основах охраны здоровья граждан в Российской Федерации» дано определение суррогатного материнства. Однако при установлении правоотношений между участниками суррогатного материнства в договоре законодательно не определены предмет и отраслевая принадлежность. Очевидно, что отношения участников ВРТ выходят за рамки регулирования семейного и гражданского законодательства. В связи с этим в статье обоснована необходимость нормативно-правового и законодательного регулирования таких отношений и принятия соответствующего федерального закона.

Креативная экономика в России: новые тренды

The article substantiates that creative industries are one of the factors of sustainable development and contribute to the transition to an innovative economy. The concepts of creative industries, economic characteristics of the Russian creative sector, trends in Russian exports of creative goods and services are analyzed. Measures to support the creative sector in Russia are systematized. The article summarizes the new trends that developed during the pandemic, which pose threats and lead to imbalances in the development of the creative sector – that is the increasing role of large companies for stream delivery of digital content; the capture of markets for creative goods and services by the largest IT companies and banks forming digital ecosystems. A new trend is the stratification of the creative industries sector depending on industry affiliation and involvement in digital services; increased diversification and monopolization in the main links of value chains – distribution and monetization of creative goods and services. Intensive and uneven changes happened in the nature of work and its creative intensity in different professional groups under the conditions of digitalization, which leads to a significant change in labor relations, especially with a new category of self-employed citizens; strengthening of territorial imbalances in the development of the creative economy. The current management tasks for the development of creative industries in Russia are proposed and justified.

СОЦІАЛЬНИЙ АУДИТ З УРАХУВАННЯМ КОРПОРАТИВНОЇ СОЦІАЛЬНОЇ ВІДПОВІДАЛЬНОСТІ

Social auditing activities include organizational and methodological support of the audit, practical implementation of audits (audit) and the provision of other audit services. Social audit is a set of measures aimed at changing and improving the process of providing specific services and implementing specific public policies. The main thing in social audit is not the research itself (although this does not eliminate the need for its clear and methodologically correct planning), but the involvement of stakeholders in active activities: service users, policy beneficiaries, government agencies, public opinion leaders and more. We can even say that research within the social audit is a kind of "occasion" for the activation of a community. Social programs help build an image and enhance the reputation of the business and, thus, are long-term investments in intangible assets of the company. In Ukraine, the increased interest of private business in social relations is due to the fact that today human resources have become a decisive factor in economic development. Investments in human capital have entered the category of "profitable". The social function of entrepreneurship is now increasingly determining the economic function (profit). This article examines the main problem of measuring corporate social activity of the enterprise. Corporate social activity is a multifaceted process that affects many actors and is therefore difficult to assess. In addition, companies differ in type of activity, industry affiliation, size, etc. The choice of how to measure corporate social activity plays a key role in researching its relationship to financial performance. In reality, falling incomes and social responsibility of corporations plays an important role in marginalizing a large part of Ukraine's population. Highest The level of internal social responsibility of Ukrainian enterprises, in particular, is observed among large companies, as they are under close scrutiny. Media and stakeholders. In the context of exacerbation of socio-economic and political problems, the topic of social responsibility of enterprises is now a topical issue of management and social development in Ukraine.

Технологии Индустрии 4.0 – фактор, способствующий внедрению циркулярной экономики для достижения устойчивого развития (обзор зарубежной литературы)

The purpose of the study is to consider the features of Industry 4.0 generated by modern intellectual, information and digital technologies and providing a higher level of production. However, the impact of Industry 4.0, including individual technologies on the industries of the circular economy and individual stages of the product life cycle has not yet been sufficiently studied. The research contributes to the expansion of the understanding of these processes. The subject of the study is the circular economy (as one of the most important concepts aimed at sustainable development) and Industry 4.0 technologies. Target groups. Decision-making bodies and stakeholders responsible for the development and implementation of modern technological solutions that take into account the social and environmental components of sustainable development of the country and regions, including in the sectoral context. This research may find a response in the scientific community. As a methodological tool, the method of analyzing the literature in this area is used, in particular, a comparative analysis of case studies, practical developments in the field under study. Results. The analysis of the processes associated with the introduction of Industry 4.0 technologies at various stages of the life cycle of products in the industry context and their impact on the transition to the circular economy is carried out. It is considered and confirmed that Industry 4.0 technologies have a wide range of effects to improve circulation, which in turn contributes to achieving sustainability by realizing economic, social and environmental benefits. The differences in the potential impact of Industry 4.0 technologies on the stages of the product life cycle, including in the industry context, are demonstrated. It is shown that understanding such an impact will allow using the advantages of Industry 4.0 technologies to achieve sustainability and will contribute to the strategic implementation of such technologies in the context of the transition to a circular economy. Conclusions. In order to take advantage of the benefits provided by Industry 4.0 technologies to achieve sustainability by influencing circulation processes, it is necessary to carefully assess the degree of technology impact on various stages of the product life cycle, including taking into account its industry affiliation. Recommended. The conclusions made indicate the need to continue research in this direction in the light of the emergence of new technologies generated by their continuous development and integration.

ОКРЕМІ АСПЕКТИ КРИМІНАЛЬНОЇ ВІДПОВІДАЛЬНОСТІ КЕРІВНИКА ЗА БЕЗПІДСТАВНУ НЕВИПЛАТУ ЗАРОБІТНОЇ ПЛАТИ

The article is devoted to the research of problematic aspects of criminal liability of the manager for unjustified non-payment of salary, which do not lose their relevance. This problem is quite common, because the relationship between employer and employee often goes beyond the legal field. In this regard, it is advisable to highlight some aspects of criminal liability of the manager for unjustified non-payment of salary. Criminal liability of the manager for unjustified nonpayment of salary is enshrined in Article 175 of the Criminal Code of Ukraine. Emphasis was placed on the imperfections of the crime provided for in Article 175 and the shortcomings of law enforcement for violation of this norm. It is noted that the special subject of this crime should be the employer – the owner of the enterprise, institution, organization, regardless of ownership, type of activity, industry affiliation or his authorized manager or an individual who in accordance with the law uses hired labor. Emphasis is placed on the fact that the proposals to increase the scope of sanctions in this offense are purely technical in nature and do not have a positive impact on the effectiveness of law enforcement. It is concluded that the successful solution to the problem of timely payment of salary should be to specify illegal actions and make changes and additions to labor, administrative and criminal legislation in the field of labor. Only after qualitative changes at the legislative level can we talk about improving the organizational component of criminal liability. Emphasis is placed on the need to clarify the subject of this crime and the procedural features of the release of a person from criminal liability in case of payment of arrears of salary.

АНАЛИЗ ОТРАСЛЕВЫХ ХАРАКТЕРИСТИК СТРАН И ОСОБЕННОСТЕЙ ИХ НАУЧНО-ТЕХНИЧЕСКОГО ПОТЕНЦИАЛА НА ОСНОВЕ ПАТЕНТНОЙ АКТИВНОСТИ

Country's patent activity in terms of industry affiliation depends on the existing scientific and technical potential in the country and the interest of non-residents in the creation of patents in order to use them in particular country’s production. The relevance of the study is determined by the growing interest and significance in investigating the aspects of influence between innovative activity and the parameters of the country's development. The purpose of the article is to identify the dependence of the industry orientation in the country on the characteristics of patent activity. The number of patents by industry indicates the degree of development in this industry and reveals ways to assess the economic role of the country and its competitiveness in a particular industry. The leading approach for analysis is the method of grouping according to the main parameters. This paper contains an analysis of the emphasis of the country's innovative development in terms of industry and the economic role of a particular country, as well as the role of scientific and technical preferences based on the analysis of patent activity. The article also represents the relationship between the GDP of countries, patent activity and the main competitive areas for leading economies.

Methods of assessing the clusters functioning effectiveness

This article is devoted to the search for approaches that will allow to evaluate the effectiveness of the functioning of clusters. The paper analyzes some existing models for evaluating the performance of clusters. A system of balanced indicators was proposed to assess the effectiveness of cluster entities. Using the example of the Ulyanovsk automobile cluster, the performance indicators of the industrial organizations that make up it were calculated. The necessity of taking into account the industry affiliation of the cluster is determined.

Прогнозирование спреда доходности на российском долговом рынке

The article provides an empirical study of factors which make a significant impact on the yield spread of corporate bonds on Russia’s market. Unlike most studies based only on IPO data, the current study covers primary and secondary markets data of 2010–2019. The aim of the study is to test the method allowing to build a model capable of predicting the yield spread with maximum approximation to actual value. The author develops a regression model applying a cross-validation method, a procedure for empirical assessment of the model generalizing ability. An important prerequisite is the inclusion of a limited number of regressors with high explanatory power in the model, stability over time, and explicit economic interpretation. The paper confirms the key hypothesis on high degree of issuer's rating on the yield spread which is a new step in the study of the Russian market. The findings prove that the yield spread is determined mainly by the level of risk corresponding to the degree of the issuer's reliability. The issuer's industry affiliation, the size of the company, the MSCI stock index has also a significant impact on the spread. Among the advantages of the proposed model is its relative simplicity, explicit economic interpretation and stable response to various data which determine the practical significance of the work. The approaches to building and testing the model applied in this work can be useful in further studies aimed at developing predictive models of this class.

Risk-based internal control of key business processes as a mechanism of economic agent's sustainable development

Subject. The article discusses theoretical and practical principles of internal control from the building stage to maintaining its effectiveness at a high level. Objectives. The aim is to examine various interpretations of internal control and internal control procedure concepts, detect difficulties of economic entities in developing, implementing, and managing the internal control, offer a model, enabling to systematize these processes through focusing on risk management of key business processes and harmonization of internal control procedures. Methods. The study rests on general methods of research, like logical analysis, generalization, grouping, and modeling. Statutory instruments in the sphere of financial and fiscal accounting and works by domestic authors serve as a theoretical framework for the study. Results. I analyze the internal control, considering the industry affiliation of economic actors. The interpretation of internal control concept is supplemented by a new element, i.e. ‘identification of key business processes’. The paper presents a matrix of internal control management, which is intended to mitigate risks inherent in key business processes. Conclusions. The said matrix may be used by any economic entity as a theoretical and methodological basis for building internal controls. The offered model and matrix enable to cover risk areas and mitigate significant risks, ensure the accuracy of financial reporting, and, as a result, sustainable development of economic entity.

Methodological tools for rapid estimating the innovative digital activity of enterprises taking into account their industry affiliation

In the context of large-scale digitalization of the economy, the convergence of domestic economy’s digitalization processes and innovative development is of especial importance and makes it necessary and expedient to improve the methods for assessing the innovative digital activity of domestic enterprises. Within the framework of this study, we offered the method for the rapid estimation of the domestic enterprises’ innovative digital activity, based on the use of a generalizing indicator - the integral coefficient of enterprises’ innovative digital activity, which is recommended to be found in several stages. At the first stage of the mentioned method, it is necessary to determine the list of indicators characterizing the level of enterprises’ innovative digital activity. At the second stage, they need to calculate the ratio of the indicators of each of the enterprises to the corresponding parameter of the leading enterprise. At the third stage, the integral coefficients for each enterprise should be calculated. Based on these integral coefficients you can make a top list of enterprises according to the level of their innovative digital activity. Depending on the values’ intervals of the obtained integral coefficients, it is possible to determine the levels of innovative digital activity of enterprises in various sectors of the economy: very high, high, medium, satisfactory and low. This method’s testing was carried out on the example of enterprises that are part of various sectors of the Russian economy - industry, services sector and construction - on the basis of the available official statistical data for years 2017-2019. The presented method can be used at the initial stage of assessing the innovative digital activity of enterprises. It allows to get rather accurate results possessing a large bulk of initial data, taking into account the features of digital transformation and the distinctive activities of the enterprises under study. The method is of general-purpose, so it can be used for analyzing innovative digital activity of economic systems of various levels (enterprises, industries, regions).

Small and Medium Enterprises Growth and Competitiveness: The Importance of Marketing Strategies Role

The growing competition among businesses of small medium or large is an area of concern to business growth and competitiveness. Strategies have been used to differentiate the undertakings of various enterprises irrespective of industrial affiliation, specifically marketing strategies are used to reach the customers and tackle competition. The adoption and implementation of unsuitable marketing strategy exposes the weaknesses of small and medium enterprises (SMEs) and the challenges to capture sizable market share. This paper is aimed at examining the types of marketing strategies suitable for SMEs and how they affect their growth and competitiveness in developing countries. A review survey approach was employed in this work and related literature from journal articles, professional reports, term papers and dissertations were reviewed. It has been discovered that marketing strategies like relationship management, branding, product and pricing differentiation, market segmentation and channel cultivation are crucial for the sustainable growth and competitiveness of SMEs in developing countries. Some propositions were made on some unpopular marketing strategies that could be explored by SMEs for competitiveness and international markets.

WHAT CAN BE LEARNED FROM SUSTAINABILITY REPORTING AT THE FRONTIER MARKETS? THE CASE OF THE REPUBLIC OF SERBIA AND NORTH MACEDONIA

The paper examines the corporate social responsibility (CSR) reporting practice at the frontier markets by using a comparative review of sustainability reporting practice according to the GRI framework. The research covers 31 companies included in the BELEXline and MBI10 indices in the period 2014-2018. The values of Social, Environmental, Economic and aggregate Sustainability Index, calculated using content analysis, indicate a low level of sustainability reporting practice. This is a consequence of a passive ownership and modest stakeholder pressures to the companies at two frontier markets and the lack of normative pressure on sustainability reporting. The grouping of the companies into clusters in accordance with the disclosure of sustainability indicators indicates significant inter- and intra-countries variations in practice. The reporting on sustainability issues differs among the companies according to their size, ownership structure, exchange market and industrial sector affiliation, which is on par with the developed capital markets.

Assessing the Impact of Country Risk on the Investment Attractiveness of Russian Companies

The ability to attract foreign direct investment (FDI) is a critical success factor for the development of any participant in the local market. One of the indicators that characterize the investment attractiveness is the economic value added (EVA). It reflects the market assessment of the company's profit potential. Some EVA assessment methodologies include the country risk assessment – a factor that is beyond control. This study analyzes the impact of this indicator on the investment attractiveness of an organization. The authors estimated the economic value added for some of the largest Russian companies using methodologies that take into account the country's risk level, as well as those methodologies that do not take it into account. The calculations used adjustments for EVA in line with specific features of Russian accounting. As a result, it was revealed that, regardless of industry affiliation, the investment attractiveness of Russian organizations decreases when the country's risk factor is included in its assessment.The article justifies the relevance of the developed approach to the assessment of investment attractiveness of companies based on country risk level as a factor that impacts the ability of organizations to generate profit, making it possible to detect hidden management problems. According to the authors, the application of this approach not only contributes to the solution of long-term and medium-term tasks of business development (for example, the creation of its infrastructure) but also greatly facilitates the entry of organizations into international markets.One of the authors' conclusions of the study is that using the methodological tools developed by them for analytical purposes requires improving the management of the investment attractiveness of an organization and, consequently, its objective assessment. The structure of economic value added can serve as a basis for making management decisions related to increasing investment attractiveness. According to the authors, the provisions formulated in the article can serve as a methodological guide for organizing business valuation based on the EVA in the Russian context. Results of the study can be of interest to managers, current owners of companies, and potential investors.

APPROACH TO ASSESSING THE EFFICIENCY OF THE USE OF ENTERPRISES’ FIXED ASSETS

To date, there are a variety of indicators for assessing the effectiveness of the company's fixed assets, using which it is possible to obtain a comprehensive analysis of the key aspects of the use of resources, their structure, dynamics, degree of reproduction. At the same time, the nature of the use of fixed assets varies significantly depending on the industry affiliation or scale of activities, which dictates the need for adjustments to take into account all these factors. Most of the fixed assets used at Russian enterprises were acquired 12-20 years ago, which causes a decrease in the efficiency of their use. The low level of fund recovery, and its subsequent decline in the country as a whole, and especially in industry, suggests the need for in-depth analysis to find the impact of factors and their subsequent impact. When calculating performance indicators, efficiency indicators are used, which are reflected in the accounting statements, which do not reflect the total volume of products produced. The nature of equipment use is low by the degree of involvement in the production process. All of these factors together have a negative impact on the performance of the means of production. The article provides a possible option for using factor analysis methods, the use of which will allow for informed management decisions on the structure of equipment, its replacement, nature and intensity of use.

INTEGRATED MARKETING COMMUNICATIONS AS A FACTOR OF EFFECTIVE ENTERPRISE DEVELOPMENT

In today’s competitive environment, companies must constantly interact with existing and potential customers. At the same time, the basic tools of marketing communications are no longer effective enough. An integrated approach to the formation of a complex of marketing communications is thus able to help companies strategically build communication with consumers. Multilateral study of the concept of integrated marketing communications and its differences from the complex of marketing communications is the basis for determining its role in the formation of communications between businesses and consumers. Modern companies are constantly trying to find new ways to communicate with consumers and improve existing ones; to convince consumers of the quality and benefits of their product. That is why marketing communications play a crucial role in creating and maintaining relationships with consumers. Increasing competition in the market increases the interest in building stable and integrated relationships. A successful combination of different marketing tools forms an integrated marketing communications as a holistic system of enterprise activities aimed at achieving maximum economic efficiency from the synthesis of various marketing tools and principles of communication process management. Integrated Marketing Communications (IMC) is a strategy that shifts the marketing department from individual functions to a single interconnected approach. IMC covers different marketing channels and combines them into one clear message.The composition of integrated marketing communications of a particular enterprise depends on its industry affiliation, innovation activity and stage of the product life cycle, so much so that the formation of integrated marketing communications of innovation-active industrial enterprises should ensure the suitability of their basic tools.