Number Of Russian Companies Research Articles

Development of Verification of non-financial reporting in Russia

The article is devoted to the audit of non-financial statements of commercial organizations. Currently, the significant increasing number of commercial organizations are forming and posting non-financial reports on their official websites, as well as on the websites of public organizations. Since there is no unified methodology for the formation of non-financial reporting in Russia, the problem of its audit arises in this regard. Audit of non-financial statements in the literature is called as verification, assurance (confirmation). The purpose of the article is to investigate the correlation between these concepts. The methodological basis of the study includes the Russian and foreign regulatory framework in the field of formation and verification of non-financial reporting of commercial organizations. The article provides an overview of the system of normative regulation of verification of non-financial reporting. The classification of types of verification of non-financial statements is also presented in the article. Based on the data of the Russian Union of Industrialists and Entrepreneurs (RSPP), a study was conducted on the number of Russian companies that passed public certification and verification from 2010 to 2020. The classification of types of conclusions and forms of conclusions based on the results of verification of non-financial statements of commercial organizations is proposed in the article. The theoretical and practical significance of the study lies in the justification and substantiation of the verification procedure of non-financial reporting and the choice of the optimal method or combination of its assurance (confirmation).

Eurasian Economic Union and African countries: Problems and prospects of cooperation

In March 2022, the Center for Russian-African Relations and Foreign Policy of African Countries Studies of the Institute for African Studies of the Russian Academy of Sciences held a conference with international participation on the topic “Cooperation of the members of the Eurasian Economic Union with African countries”. The Conference took place at a difficult time, when the international situation sharply worsened that required a rethinking of our country’s relations with the outside world as a whole and with important partners, including the states of Africa and our closest neighbors, the countries of the Eurasian Economic Union (EAEU), where Russia is also a member. The event, which was held in the format of a videoconference, was attended by leading Russian specialists in African studies, the scholars from the Institutes of the Russian Academy of Sciences, the Institute of Economics of the National Academy of Sciences of Belarus, workers of practical organizations, including the Eurasian Economic Commission, teachers, post-graduate students and applicants. Among the main problems discussed there were: Session 1 - global aspects of contemporary international relations and prospects of multilateral cooperation; Session 2 - bilateral cooperation of the EAEU members with African countries; Session 3 - positions of the maincompetitors for EAEU countries in Africa. The reports contained recommendations on strengthening Russia’s mutually beneficial partnershipwith the EAEU member states and African states. These recommendations may be used practically by both the business community, as evidenced by the interest in this conference from a number of Russian companies, and by practical organizations of the EAEU members.

Disclosure and Provision of Information by Securities Issuers under Sanctions

The paper is devoted to the transformation of information transparency of Russian securities issuers after the implementation of sanctions by foreign states and international organizations against a significant number of Russian companies. In response to foreign policy pressure, the Russian state quite naturally took a number of steps to protect domestic companies affected by sanctions, including by providing significant concessions in the field of disclosure and presentation of information. The author examines the question of which categories of companies and in relation to which information the rights to disclose/present it in a limited scope are granted, considers the conditions for the implementation of this right. Any change in the above-mentioned area aimed at reducing the availability of information about the activities of companies to the public and market participants may in the future have a negative impact on the development of the Russian economy as a whole. That is why it is especially important to pay attention to legislative changes and law enforcement practice taking place in this area. The author conducted a study of sources of information about public companies that began to disclose and present information in a limited scope. The most interesting examples of how societies began to abuse the rights granted to them were identified.Given that the sanctions affect significant sectors of the Russian economy (including the financial, energy, defense, mining and metallurgical industries), the widespread inappropriate practices in the field of presentation and disclosure of information may adversely affect the value of securities of investors who find themselves in a situation of an information vacuum regarding the activities of issuers. In order to preserve trust between market participants, the author proposes to give an opportunity for investors to resort to such a method of protecting their interests as the right to demand the redemption of securities belonging to them of those issuers that radically restrict access to information about their activities.

Features of the survey and monitoring of the technical condition of cultural heritage objects based on the BIM model

In Russia, Building Information Modeling (BIM) is becoming a mandatory requirement for the construction of new buildings. There is a positive experience in the implementation and examination of projects with BIM. A number of Russian companies have already introduced and are actively using information design technologies in their activities. However, at the current moment, the use of BIM in Russia is at the start. This paper shows examples of the use of BIM and laser scanning in the development of scientific and project documentation for cultural heritage sites. The paper shows the stages of engineering research. A comparison is made between traditional methods of building inspection and with the method of laser scanning. The key advantages of using a BIM model at the design stage, restoration and subsequent stages of the object’s life cycle are shown. The promising areas of application of BIM technologies, laser scanning technologies at different stages of the life cycle of an object (buildings, structures, utilities) have been identified.

Evaluation of the payability of Russian companies and practice of using their bankruptcy procedures

In modern business conditions, an increasing number of Russian companies have problems with solvency, as a result of which they are forced to go into bankruptcy proceedings. In such conditions, it seems important to develop the rehabilitation potential of business bankruptcy. The objectives of the work are to identify the reasons for the low solvency of Russian companies, as well as the rare use of bankruptcy rehabilitation procedures and their low effectiveness, which will allow us to identify new approaches to the development of the rehabilitation, including health, bankruptcy potential. In the course of the study, a comprehensive and systematic approach to the studied processes and phenomena was applied, which are implemented by means of general scientific methods: scientific abstraction, analysis and synthesis. The use of standard analytical methods (comparison, summaries and groupings) made it possible to assess the solvency of Russian companies, their participation in bankruptcy proceedings and the effectiveness of bankruptcy proceedings. The study made it possible to conclude that today the activities of the overwhelming majority of insolvent Russian companies are completed with the help of bankruptcy proceedings, while the main function of bankruptcy rehabilitation procedures is solely in debt repayment extended over time, which requires further improvement by adding a vector to preservation and development of the debtor's business. The results of the study can be used in analytical practice, as well as to develop new approaches to the development of the rehabilitation potential of bankruptcy proceedings.

Digital technologies and their influence on the innovative development of the regional industrial complex

The article examines the trends of innovative development of industrial production, including the active transition to Industry 4.0. Digital technologies used by industrial companies in the world, Russia and its individual regions are identified and analyzed. The use by a small number of Russian companies of predominantly digital second-tier technologies was noted. A proposal has been formulated on the need to form a digitalization strategy for production activities on the basis of technological platforms in cooperation with industrial clusters in the field of IT technologies.

Modern Managerial Thinking and Russian Corporate Governance Practice

Subject . This article focuses on managerial thinking as the basis of management paradigm change. This problem is analyzed in the field of corporate governance. Purpose . To discuss several problems of changes in managerial thinking in the process of corporate governance development in Russia to find the balance between the ideal model based on the worldwide recommendations and standards in corporate governance and the real needs and goals of the concrete companies. Methodology . The authors analyze several most important specifics of corporate governance and the need for system, strategic, outstripping, non-linear, adaptable, independent, and leadership thinking. The topics discussed are based on the ideas and opinions of famous foreign and Russian authors as well as on the long practical work in the Boards of Directors of several companies and organizations. Results . The critical look at contemporary managerial thinking especially in the corporate governance is suggested to continue the analysis and discussions on the new management paradigm of the XXI century. Conclusions . Each transformation starts with the basic meaningful questions on the necessity and the expediency of some actions. As Russian corporate governance develops these kinds of questions become more actual. A number of Russian companies trying to follow the best practices do not have enough system thinking and synergetic vision of recommendations suggested and transformations in the management system. Now the accumulated experience induces much to rethink about creating more effective control systems. Accordingly, the practice of business education should change.

PROBLEMS OF INVESTMENT SUPPORT FOR INNOVATION DEVELOPMENT

The current socio-economic situation in Russia is developing under the influence of anti-Russian sanctions, the intensification of global competition, the complication of the world political situation. Against this background, a complex problem requiring an integrated and systemic solution is to ensure sustainable parameters of economic growth. As the economy has a tendency to repeat the dynamics, it allows us to identify the cyclical nature of its development. Successful industrial development is replaced by periods of decline, accompanied by inflation and unemployment, a decline in production and consumption. The study of socio-economic dynamics in a long-term retrospective allows us to identify patterns in development and develop a set of anti-crisis measures. In this paper, we study the dynamics of socio-economic processes that accompany the development of the national economic complex in recent years. Analysis of the dynamics of the GDP of the Russian Federation made it possible to discover the cyclical nature of its development. From 2002 to 2015, two cycles were identified: the first - from 2002 to 2008; the second - from 2009 to 2015. After the global financial and economic crisis of 2008-2009, Russia noted the post-crisis economic recovery, which was interrupted in 2013-2014 by the introduction of international economic sanctions against Russia. The slowdown in economic growth since 2014 was determined by external shocks in the energy and raw materials markets, as well as by geopolitical tensions and, as a result, the closure of foreign capital markets for a number of Russian companies and banks. Analysis of investment as the main catalyst for economic growth showed a fall in investment volumes amid the effects of the crises of 2008 and 2013-2015. A decrease in investment activity in the regional structure of investments was noted. The modern tendencies in reorientation of regional investments in the branch, not subject to sanctions influence and working on realization of import substitution policy are revealed. Groups of activities aimed at stimulating capital investments and ensuring sustainable economic development in the regions have been formed.

Forecasting the dynamics of demand for high-tech products of industrial companies

The article examines problems of forecasting the high-tech product market based on statistical modeling. The results of studying a number of Russian companies for 15 years and forecasting the demand for telecom services have been presented.

Монтажная пригодность технологического оборудования при модернизации действующих производств

To date, a large number of Russian companies in diverse and various industries, has old equipment and requires modernization of the technological process due to the growth of scientific and technological progress. In order to achieve goals when upgrading is considered such an important aspect as the readiness of the new equipment installation. Mounting hardware suitability describes the suitability and readiness of equipment for efficient Assembly at the user. Replacement of technological equipment requires large volumes of works on installation and dismantling, in the absence of the building has its own lifting mechanisms require large financial and labor costs. One of possible methods for replacement of process equipment is the technology of without crane installation allows us to carry out work in existing space planning. Today is the question of the necessity of development and introduction of new technological production methods and fixtures tooling in which it is possible to conduct installation and dismantling of technological equipment in the operating production process.

A critical view of Russia's IPO market: a sign of success or a reason for caution?

PurposeThe purpose of this article is to analyze the initial public offerings (IPOs) of Russian companies in the context of the country's investment attractiveness and the readiness of its companies to list on stock exchanges, domestically and/or internationally. The analysis takes a balanced approach. It recognizes the positive aspects from the development of Russia's stock markets and the launched and planned IPOs of Russian companies, but underscores reasons for caution in assessing this developing situation, emphasizing the need to maintain a critical perspective. The article is intended to help determine, in the sphere of IPOs at least, whether Russia is currently, or is on the road to becoming, as solid as a BRIC.Design/methodology/approachDrawing upon publicly available material from English‐ and Russian‐language sources, the authors discuss the development of the two Russian stock exchanges and analyze the progress that Russian companies have made in successfully completing IPOs on Russian and foreign stock exchanges. The paper also analyzes the barriers faced by Russian companies in launching IPOs and/or attracting investment, including global factors, country‐level conditions, and individual firm characteristics.FindingsThe results of the analysis indicate that the Russian stock exchanges have developed reasonably well over the two decades since perestroika. Correspondingly, a substantial number of Russian companies have mounted successful IPOs not only on the Russian stock exchanges but also on international exchanges, particularly the London Stock Exchange. Yet the number of successful IPOs relative to the number of planned IPOs has been much smaller than the global average. The latter finding is attributed to Russia's particular investment problems, which extend beyond global economic forces, specifically the country‐level and firm‐specific factors, both of which heighten the risk for investors.Originality/valueThe authors' review of the literature has uncovered no journal articles covering the circumstances surrounding the IPOs of Russian firms. Additionally, the available sources seldom provide a balanced view, much less a critical view of the IPO landscape in the context of Russia's overall circumstances, particularly risk. Thus, this article, with its critical but balanced perspective, allows for a relatively objective analysis for theorists as well as investors as they approach the topic of Russian company IPOs, domestically or internationally.

Management by values as a core tool of HRD during the economic transition: an example of Russian enterprises

The article analyses the role and the significance of management by values in the conditions of transition from one socio-economic system to another. The theoretical aspects of the problem and the results of empirical research conducted in a number of Russian companies are examined. An assumption is made about organizational values influencing the formation of personal priorities and guiding principles of the employees, which leads to the increase of the degree of social responsibility of a given business.