Private Joint-stock Companies Research Articles

Шляхи оптимізації витрат підприємства на прикладі ПАТ «Українська залізниця»

The article is aimed at finding ways to optimize costs at the production subdivision «Operational wagon depot Kupyansk» of the Regional division «Southern Railway» of the Private Joint Stock Company «Ukrainian Railways» on the basis of the performed analysis of the composition and structure of costs, profitability, the impact of the amount of costs on performance indicators, the level of costs per 1 UAH of the consummated services, and operational analysis. The views of scholars on the term «costs» are explored. It is defined that cost management is quite a complex and important process in the course of carrying out economic activity along with determining the quality of further results of enterprise. The main methodological bases of cost management, economic condition of the enterprise are researched. Optimization measures for further development of the enterprise are proposed, which will allow to use its resources more efficiently, to achieve an increase sales and maximize profits. The authors provide recommendations on managing the enterprise costs in order to stimulate the growth of competitiveness. The focus is placed on the mechanism of minimizing the costs of the enterprise in the total amount of net income, because efficient use of costs can not be carried out without structural changes in the sphere of their management. It is identified that cost management is an interconnected complex of works, which forms and influences the behavior of costs during economic activity, as well as is aimed at achieving the optimal level of costs. The proposed measures as to optimizing costs can be used by directors and managers of the enterprise to make informed decisions on the prospective development of the enterprise.

Ecological status of fishery ponds for growing populations of Antoninsko-Zozulinetsky scaly carp

The results of researches on the study of ecological conditions in growing the population of different age groups of carp of Antonino-Zozulenets breed in the conditions of fisheries «Stara Sinyava», Private Joint Stock Company «Khmelnytskrybhosp» are presented. Generalization of the chemical composition of water is made. The chemical composition of water is constantly changing: water sources of water supply, precipitation, sewage, water flow from near adjacent territories, groundwater filtration, mixing of water from different depths, uneven heating of the sun by water, evaporation etc. Atmospheric and river waters also affect the quality of pond water, diluting it, as well as the biochemical processes occurring in reservoirs. The development of the natural forage base of fishery ponds, the quantitative development of plant plankton both in the cultivation and in the foraging ponds was characterized by low rates. One of the reasons for the low development of phytoplankton in the studied joints is the overgrowth of their higher aquatic vegetation. It is known that higher aquatic vegetation is the main competitor of phytoplankton in the consumption of biogenic elements, inhibits the development of the latter, due to the allocation of metabolites, and changes the conditions of vegetation of the phytoplankton. It was established that the ecological conditions of the cultivation and feeding of the fish farm «Stara Sinyava» were generally satisfactory. The hydrochemical regime of the fish ponds was satisfactory and suitable for fish farming. The state of the natural fodder base of the fishery ponds was low in intensity of development of phytoplankton (0.96–4.23 mg/dm3), and in intensity of development of zooplankton (3.22–20.29 g/m3) and zoobenthos (2.45–7.98 g/m2) sufficient to meet the nutritional requirements of young and older carp groups.

The development of railway transport engineering in the Russian Empire in the second half of the nineteenth century

The article is devoted to the consideration of the features on the development of railways and railway engineering in the second half of the ХІХ th century. It is well known that railway transport in European countries emerged in the eighteenth century, and the nineteenth century was a period of rapid development of raiway systems, railway technology and the creation of operation technologies. The author of the article shows that the development of railway transport engineering in the Russian Empire began in the 30s of the XIX century and went on at a rapid pace. It is clear that foreign technology was used at first, and foreign technology thought was significantly influenced by technology. As the whole policy of the tsarist government was aimed at reducing the country’s dependence on potential opponents, the idea of forming a Corps of national transport engineers was greatly supported. Among its graduates were such well-known engineers as P. P. Melnykov, M. I. Lypyn, V. P. Sobolevskyi, M. A. Beleliubskyi, D. I. Zhuravskyi and others who managed to create a national scientific school in the field of railway transport. Almost all problems were solved independently without the help of foreign specialists. Among them, according to the author, the most significant were “Track bed structure”, “The development of signalling systems, centralization and block signal system” and “The development of rolling stock”. Based on the analysis of a large number of sources, the author concludes, that in the second half of the nineteenth century the development of industry in the Russian Empire went through capitalist reforms. Expansion of domestic and foreign markets, active domestic and foreign trade led to the need to develop means of communication. The railways proved to be the most powerful and economically effective. They connected different regions, places of production and consumption, facilitating, speeding up and reducing the cost of delivery of raw materials and goods. In the 60-80’s of the XIX century there was a significant increase of the railway network. The construction was mainly carried out at the expense of private joint stock companies. During that period, foreign specialists who were not interested in the qualitative development of the Russian railway network played a major role in the construction and management of the railway tracks. With the increasing demand for this new type of transportation, there was a need for technical modernization of the entire industry.

Milk productivity of cows-daughters from different bulls

The results of researches of signs of milk productivity of the cows from different bulls for the first, second, third and higher lactations are presented. Studies were conducted on Black-and-White cattle (n = 1981) at Private Joint Stock Company “Plemzavod Styepnoy” Zaporizhia Oblast. There was studied the duration of lactation, milk yields of full and 305 days of lactation, fat and protein content in milk, quantity of milk fat and milk protein of descendants of different parents on the basis of a retrospective analysis of data for the period from 2004 to 2017 (the management program of the dairy herd “Uniform-Agri”). It was established that bulls have a significant impact on the formation of milk productivity of cows. Daughters of E. Naitinhel 683403608 had the longest duration of the first, second and higher lactation and descendants of N. Ardent 137922325 of the third one. Daughters of the bull G. Dzhungl 7816598 were the best by the milk yield of the full first and higher lactation, daughters E. Naitinhel 683403608 for the full second, and daughters of N. Ardent 137922325 – for the third. For 305 days of lactating there was observed a significant level of intergroup differentiation for the number of milk yield, milk fat and milk protein and much less by the amount of fat and protein in milk. For the first 305 days of lactation daughters of bull L.H.F. Bay 66821678 (10188.0 ± 377.12 kg) were characterized by the highest milk yield, and daughters of F. Gailuron 103356429 (correspondingly 11028.8 ± 30619; 11643.3 ± 590.20 and 10311.7 ± 382.07 kg) for the second, third and the highest lactation, with both bulls belonging to the line R.O.R.E. Eleveyshn 1491007. For 305 days of the first lactation descendants of the bulls V. Silas 7419933 (7003.5 ± 317.79 kg) from the line H.H. Starbak 352790 had the lowest milk yield, daughters of E. Naitinhel 683403608 (7633.0 ± 182.18; 7605.8 ± 224.58 and 8491.7 ± 185.42 kg respectively) from the line R.O.R.E. Eleveyshn 1491007 by the second, third and highest lactation. Detected by comparison of group average conditionality of phenotypic variability quantitative characteristics of the milk productivity of cows derived from different parents was confirmed by the dispersion analysis conducted by us. The most significant influence of bulls were made on the milk yields of daughters for the first-third lactation (12.9–16.8%), lower – for the amount of milk fat (12.4–15.6%) and milk protein (12.2–15.8%) and even lower – for the content of fat (2.5–4.2%) and protein in milk (3.7–6.6%). It should be noted that the effect of the bulls on signs of milk productivity for the lactation under study in their daughters in almost all cases was reliable (P & lt; 0.05–0.001) except for the fat content in milk for the first lactation and fat and protein – for the second and third lactation.

EFFECTIVENESS OF FEEDING DRY BREWERS GRAINS TO REPAIR HEIFERS OF THE JERSEY BREED

Introduction. An important reserve for increasing the profitability and competitiveness of livestock production would be solving the problem of feed protein deficiency in animal feeding. Significant contribution to the solution of this problem can be made by using high-protein waste of oil extraction (meal, cake), alcohol (bard), brewing (brewers grains) industries for feeding purposes.
 Since the liquid brewers grains is poorly preserved and easily spoiled, especially during the summer, and its transportation over long distances requires large costs, in this regard, there is a current problem of drying the liquid brewers grains and its usage as a high-protein fodder for feeding animals in dry form as part of animal mixed fodder.
 The purpose of our research is to study the effectiveness of feeding dry brewers grains to repair heifers of the Jersey breed.
 Research materials and methods. Research on the feeding dry brewers grains effectiveness was carried out on repair heifers of the Jersey breed at the age from 2 to 12 months on the basis of the farm SE “Dan-milk” in Cherniakhiv district of Zhytomyr region. Dry brewers grains produced by private joint-stock company (PJSC) “Obolon” were used for the research.
 Research result. The content of crude protein in 1 kg of dry brewers grains, which was used in scientific and economic research, was 24.46%, or 244.6 g per 1 kg of dry brewers grains.
 In order to study the effectiveness of feeding dry brewers grains, three groups of repair heifers of the Jersey breed were formed for the research, 8 heads each, according to the following scheme: one control group of repair heifers, and the other two were research groups.
 According to the research scheme, the control group of repair heifers received a standard grain mixture without dry brewers grains. The difference in the feeding of repair heifers of research groups consisted in different levels of feeding dry brewers grains, which was included in the grain mix of the II research group in the amount of 15%, and the III research group - in the amount of 20%.
 As a result of the research, there was an increase in the average daily gains of the II research group heifers, which ration included 15% of dry brewers grains in the mixture composition: for the period from 2 until 6 months – up to 0.811 kg against 0.786 kg, for a period from 6 until 12 months – up to 0.671 kg against 0.657 kg, for a period from 2 until 12 months – up to 0.727 kg against 0.709 kg in the control group.
 At the age from 9 and 12 months of cultivation of repair heifers of the II research group, which grain mixture included 15% of dry brewers grains, there was a tendency of the main body measurements increase: height at the withers, chest girth and oblique torso length, compared with the repair heifers of the control group. In heifers of the III research group, which ration included 20% of dry brewers grains of the grain mixture, the main body measurements were lower than in heifers of the control and II research groups.
 While studding main hematological indicators of the repair heifers of the control and research groups at the age of 6 and 12 months of cultivation, it was found that the inclusion of 15% of dry brewers grains in the grain mixture of the ration of the repair heifers of the II research group improved their passage of biosynthetic processes and the use of nitrogen, which indicates a tendency to increase in their blood total protein content compared to the control group primarily due to globulins, which indicates an improvement of immune-protective properties in the heifers of this group. The increase in the content of total protein and globulins against the control group in the heifers of the III research group, grain mixture for which included 20% of dry brewers grains, was manifested to a lesser degree.
 Summary. The inclusion of dry brewers grains in the grain mixture of the rations of repair heifers of the Jersey breed of the II research group in the amount of 15% of the total weight of the grain mixture, provided an increase in their average daily gains compared to the repair heifers of the control group and amounted to for the period from 2 until 6 months – 3.2%, for the period from 6 until 12 months – 2.1%, for the period from 2 until 12 months –2.6% with a tendency to increase the main measurements at the age of 9 months: height at the withers up to 104.0 cm against 103.5 cm, chest girth – 142.8 cm against 141.4 cm, oblique torso length – 131.8 cm against 131.4 cm in the control group.

EFFICIENCY EVALUATION OF COOPERATION BETWEEN TRANSPORT ENTERPRISES AND HIGHER EDUCATION INSTITUTIONS IN THE TRANSPORT AND LOGISTICS CLUSTER

The processes of formation and efficiency evaluation of the transport and logistics clusters’ operation as a tool of national transport competitiveness, possibility to attract investment to the field, in order to reach a high point of innovation development, are of a great interest nowadays. All mentioned above make additional requests to the modern specialists in the transport industry. It is possible to solve this problem as a result of cooperation between transport enterprises and higher education institutions in the process of cluster operation. Thus, the subject of research is effective cooperation between transport enterprises and higher education institutions in the process of cluster structures’ cooperation. The aim of the research is the development of an integrated index of operating efficiency evaluation of transport enterprises and higher education institutions to evaluate its cooperation under the conditions of operation of transport and logistics cluster (TLC). Methodology. In the research process, the methods of scientific knowledge such as analysis and synthesis were used in studying of the activity of self-supporting separated subdivision of Kiliya Shipbuilding and Repair Yard of Private Joint- Stock Company “Ukrainian Danube Shipping Company” and State University of Infrastructure and Technologies in 2015–2017. Economic-mathematical methods were used to make integrated index calculation of operating efficiency evaluation of transport enterprise and higher education institute, value scale determination of the integrated index of operating efficiency evaluation of the clusters’ entity. The expert evaluation method is used to define the values, characterized operation of transport enterprises and higher education institutions under the conditions of their cooperation within TLC and their significance. Method of scientific abstract is applied to come to theoretical general conclusions. The system approach is the main one in the research. Results. In the article, the methodological approach was used, it includes value system determination based on the expert evaluation, method of integrated index calculation and value scale development of an integrated index to evaluate performance efficiency of transport enterprises and higher education institutions under the conditions of their cooperation in transport and logistics cluster. This approach was applied on the example of the activity of self-supporting separated subdivision of Kiliya Shipbuilding and Repair Yard of Private Joint-Stock Company “Ukrainian Danube Shipping Company” and State University of Infrastructure and Technologies. It is determined that entities of transport and logistics cluster can achieve a general positive economic impact. Practical implications. Practical consequences are connected with the opportunity to use suggested methodological approach to make the calculation of entities’ efficiency as a result of their cooperation in the cluster. The practicability of the cooperation between transport enterprises and educational institutions in the transport and logistics cluster in this research is proved by the opportunity to get a lot of advantages as a result of this cooperation, by the positive change of main operating index of the cluster’s members. It is base for the development of further enterprise development strategy, proved by a jury of opinion and calculated integrated index of the effectiveness of their activity. Value/originality. Originality lies in the development of scientifically-grounded formulas for integrated index calculation of operating efficiency evaluation of transport enterprises and higher education institutions in the transport and logistics cluster and opportunity to identify efficiency level of their cooperation according to developed value scale.

Analiza zmian w funkcjonowaniu bankowości centralnej w Polsce po 1924 roku

Purpose – The main aim of the article is to compare central banks functioning in Poland after 1924 (Bank Polski SA and NBP) in therms of their competence and level of independence. Description – The conducted comparison concerns the functioning of central banks, both in the organizational context as well as their independence in the functional, institutional and personal as well as financial dimension, with particular emphasis on Bank Polski SA and the National Bank of Poland (NBP). Despite the break in the independence of the central bank in Poland in 1945-1989, after 1989 this independence was rebuilt. In contrast to Bank Polski SA, which acted as a private joint-stock company, the NBP operates as a state institution, but since 1989 it has taken full responsibility for monetary policy together with a ban on financing the budget deficit, which ensured functional and financial independence. Currently, the NBP is the most independent Polish central bank after regaining independence in 1918. The paper is based on the national literature and legal acts regulating the activity of central banking in Poland.

MODELING OF HYDROGEOFILTRATION GROUNDWATER FIELD IN THE INFLUENCE ZONE OF METALLURGICAL PRODUCTION

In order to detect technogenic violations, the hydrogeofiltration field of the aquifer closer to the land surface which is spreading within the site of metallurgical production of the Private Joint Stock Company “EVRAZ Dniprovskyi Metallurgical Plant” (PJSC “EVRAZ DMP”) was investigated. The data of the target analysis and the groundwater monitoring information (2010–2014) from the PJSC “EVRAZ DMP” local groundwater monitoring networks were used. A full-scale survey of observation wells and pilot filter work was carried out. Geoinformation approach was used for modeling the hydrogeofiltration field of the investigated aquifer. According to the results of geoinformation analysis, the presence of disturbances of level, balance and hydrogeotermal parameters of particular aquifer were observed. It was discovered the local “piezometric dome” perturbations of the water table and the stable abnormal groundwater temperature rise. Such changes indicate the presence of additional intensive anthropogenic sources of infiltration in local areas. The most relative level of water-ecological load is obtained the southwest zone of the industrial site with a borderline location. Therefore, the influence of the adjacent urbanized area on the deformation of the hydrogeofiltration field of the aquifer closer to the land surface within the studied area was not excluded. The preservation of the revealed tendencies of deformation of the hyd­rogeological conditions on the site might be produced a threat to safe ope­ration of industrial structures as a result of intensification of the floo­ding process and derivatives – mechanical and chemical phenomena.

------- ((( ) (The Results of Activity of Russian Joint-Stock Companies During the First World War (By the Example of Enterprises on Processing of Nutritious and Gustatory Substances))

Russian Abstract: Введение. Статья посвящена рассмотрению результатов деятельности акционерно-паевых предприятий в годы Первой мировой войны в контексте изучения причин, породивших февраль 1917 г. При этом основное внимание автор уделяет анализу работы этих предприятий в последнем предреволюционном 1916 году. Материалы и методы. Работа выполнена на основе широкого круга источников, в том числе архивных, а также статистических сборников и публикаций, размещенных в ведущих экономических журналах за 1916-1917 гг. В качестве основного метода исследования использован метод системного анализа. Результаты. Автор пришел к выводу, что именно акционерно-паевые предприятия, как наиболее динамично развивающаяся форма объединения частного капитала на рубеже XIX-XX вв., одерживают победу над всеми другими формами организации капиталистических предприятий, прежде всего, вследствие присущих им организационно-правовых и экономических особенностей. Однако с началом войны частный бизнес оказался в более сложном положении, поскольку не был допущен к выполнению заказов военного ведомства, и лишь в условиях затягивания военных действий, начиная с 1915 г. государство было вынуждено привлекать акционерно-паевые предприятия к снабжению армии, прежде всего, сырьем и продуктами питания. Обсуждение. Основное внимание в статье сосредоточено на деятельности предприятий по обработке питательных и вкусовых веществ. В этом контексте более подробно рассмотрена работа кондитерских фабрик, которые сумели воспользоваться возникшей в условиях войны ситуацией и значительно увеличили производство дешевых кондитерских изделий, в результате чего сладкий товар перестает быть предметом роскоши и становится демократическим продуктом. Даже несмотря на кризис 1916 г., который испытывала сахарная промышленность, кондитерское производство продолжало расти. Лишь в 1917 г. наметился незначительный спад, вызванный общим расстройством хозяйственного механизма, усилившимся в результате революционных событий. Заключение. Сделан вывод о том, что практически все частные акционерные предприятия пищевкусовой промышленности работали в годы войны достаточно стабильно: показывали прибыль, увеличивали капитализацию, выплачивали акционерам дивиденды, которые не только не уступали по размеру довоенным, но даже в ряде случаев превосходили их. При этом необходимо отметить, что рост дивидендов в годы войны свидетельствовал не столько об экономическом благополучии трудящихся, сколько о нарастании неравенства, что, в свою очередь, являлось благодатной почвой для обострения социальных конфликтов в обществе, нарастание которых подталкивало к революции. Тем не менее, экономическая ситуация в стране вплоть до начала 1917 г. не выглядела угрожающей. English Abstract: Introduction. The article is devoted to the analysis of the results of activity of joint-stock companies during the First World War in the context of researching of reasons which led to the February 1917. At that, the author pays the most attention to the analysis of the activity of these enterprises during the last pre-revolutionary year 1916. Materials and methods. The work is based on the wide range of sources, including archive as well as statistics collections and publications issued by the leading economic journals in 1916-1917. System analysis is used and the main research method. Results. The author makes a conclusion that these are the joint-stock companies as the most dynamically developing form of incorporation of private capital at the edge of XIX-XX centuries which succeeded among all other forms of organizing capitalistic enterprises, mostly because of its organizational, legal and economic features. However, once the war began, the private business got in a more difficult situation, since it was not allowed for them to perform war department orders. Only after the war actions were delayed as of 1915 the state was forced to engage joint-stock companies to supply the army, mostly with raw materials and food. Discussion. The author focuses on the activity of enterprises specializing in processing of nutritious and gustatory substances. In this context the author describes in more detail the work of confectionary factories, who managed to get the best of the situation and significantly increased the production of cheap confectionaries, which resulted in sweets becoming a democratic product instead of a luxury good. Despite the crisis in 1916, which the sugar industry suffered, confectionary production continued to raise. Only in 1917 an insignificant decrease began, which was caused by the whole incapacity of the economic mechanism, which degradation was caused by revolution events. Conclusion. The conclusion is made that almost all private joint-stock companies of food industry worked rather stable during the war: showed profit, increased capitalization, payed dividends to the shareholders, which were not less than the pre-war ones or even exceeded them. At that, it is important to mention that the increase of dividends of joint-stock companies during the war proved not the economic prosperity of the workers but mostly the increase of inequality, which in its turn gave good reasons for escalation of social conflicts in society and in this regard supported the revolution. In this regard, the economic situation in the country did not look dangerous up to the beginning of 1917.

PRICING AND EXPENSES MANAGEMENT IN FOOD INDUSTRY ENTERPRISES

Introduction. The article defines the definition of pricing and determines its main factors. The consumer price index for food and soft drinks in Ukraine has been analysed in recent years. The dynamics of demand for products and the main components of price are observed. The analysis of expenses management on the example of the Private Joint-Stock Company «Konotop Bakery» is carried out. The article reveals the main methods and tools for determining the price and margins in the food industry enterprises. Purpose. The article aims to analyse the approaches to pricing and expenses management in food industry enterprises. Method (methodology). In order to reach the goal of the research we have used the following methods: methods of analysis and synthesis, method of systematic approach, method of theoretical and logical generalization, comparison method, method of factor and structural analysis. Results. The peculiarities of pricing at food industry enterprises have been investigated. Among these methods, which influence the formation of prices, we can distinguish the following ones: the social nature of products of the industry, the scale of state control and regulation of prices, the dependence of prices on products from cost of raw materials, materials prices and high competition. The introduction of new high technologies for the production of competitive products at food industry enterprises in order to compete on the domestic and foreign markets has been recommended. The search of new suppliers of raw materials with lower prices in order to reduce the cost of raw materials and optimize the costs of its production has to be initiated.

Частный бизнес и революция (к вопросу об экономических причинах Февраля 1917 года в России)

The purpose of this article is to analyze the results of work of private joint-stock companies during the industry restructuring during the First World War and the influence of this process on the economic condition of Russia on the eve of the February revolution of 1917. At the turn of the 20th century, joint-stock companies succeed among other forms of business set-up, mostly because of their organizational, legal and economic features. The process of industrialization in Russia increased the importance of these companies, which were capable of making large investments in such capital-intensive branches as banking, extraction of new types of natural resources (coal mining, oil extraction etc.), and creation of innovative industries. An overview of the condition of joint-stock companies during the First World War and on the eve of the February revolution is presented by the issue “Joint-Stock Companies in Russia According to the Official Data of the Ministry of Trade and Industry and the Ministry of Finance”. It was the only reference book in Russia which contained systematized data about the joint-stock companies active in Russia. The reference book was printed annually as of 1912; the latest issue is dated 1917. As a result of the analysis, the author makes a conclusion that in spite of the difficulties associated with the transfer of the county’s economy to war regime, generally, the work of joint-stock companies was successful up to February 1917 inclusive; at that it is applicable not only to those firms which received military orders from the state, but also those which worked on a free market. The evidence of this is the growth of the main capital and payment of per cent on dividends, which, starting from 1915, demonstrated a stable tendency for growth.

Независимость центрального банка: концепция, методы оценки и влияние глобального финансового кризиса

The theory of independence of central banks was developed during the 1980s and 1990s. Central banks went from private joint-stock company to public entity with special legal status in the long-term. Today the topic of independence is one of the most popular in the political economy. In the 2010s, researches moved in two directions: the impact of independence on sovereign debt management and the role of democratic regimes. The disinflationary effects of independence are confirmed; moreover, independence minimizes the impact of the political cycle on inflation. Under the super-authoritarian political regimes such effects are not observed. The recent financial crisis 2007-2009 has changed the role of central banks as a result of non-conventional monetary and macro-prudential policy measures. The independence of the central bank was influenced by a complex of problems of the financial and fiscal systems. Recent research doesn't suggest that independence of central bank has been reduced. However the recent financial crisis shed light on shortcomings of central banks independence theory. It includes departure from the political independence, overlapping of functions and defects of legal independence indexes. Today the theory is facing the task of rethinking the factors of independence and developing new methods for its estimate, taking into account the expanded powers of central banks.

Analysis of patterns of the open-pit mine water influx formation in the conditions of the Inhulets iron ore deposit using a three-dimensional geofiltration model

The purpose is to study the patterns of groundwater influxe formation within the north-eastern side of the Private Joint-Stock Company “Inhuletskyi hirnycho-zbahachuvalnyi kombinat” (PJSC INHZK) open-pit mine in the conditions of disturbed hydrodynamic regime of the eastern adjacent side of the open-pit mine by the developed three-dimensional geofiltration model. The patterns have been determined of the open-pit mine water influx formation on the basis of a complex analysis of the actual data related to geological and hydrogeological structure of the iron ore deposit, the intensity and character of groundwater influx within the eastern side of the open-pit mine, and the results of numerical simulation of geofiltrational processes. By the results of inverse problems solutions, the geofiltration model reflects adequately the geological, hydrogeological, and geotechnical conditions of the studied territory where the technogenically disturbed hydrodynamic regime have been formed; the calculated values of the open-pit mine water influx within the eastern side of the open-pit mine and its north-eastern site, have been determined. It has been found that the values of groundwater influx and their distribution within the eastern side of the open-pit mine and its north-eastern site depend on the manner of the water-permeable alluvial strata occurrence on the eroded surface of seat clays, and the existence of a technogenic aquifer near the rock-disposal dump base at the adjacent site of the open-pit mine. The results of this research form the basis for a substantiation of technical solutions for dewatering the north-eastern side of the PJSC INHZK open-pit mine in the conditions of further development of mining operations, and for determining the hydrodynamic parameters of dewatering facilities.

ПРОБЛЕМИ ІНВЕСТИЦІЙНОГО РОЗВИТКУ ПРОМИСЛОВИХ ПІДПРИЄМСТВ ЗАЛІЗНИЧНОЇ ГАЛУЗІ В УМОВАХ РЕФОРМУВАННЯ

Investment development of industrial enterprises of subordinates of PJSC "UZ", adoption of balanced and effective managerial decisions is impossible without determining the owner's priorities and development strategies.In the article the theoretical and practical aspects of investment development of private joint-stock company of "Gnivanskiy plant the special reinforced concrete", analysis of new types of products for diversification of production and loading of not in use floor spaces, development of investment project of private joint-stock company of " Gnivanskiy plant the special reinforced concrete ". Directions of reformation enterprise in a short-term prospect are offered, introduction of changes at operative and strategic level of management. Directions of reformation are offered enterprise in a medium-term and long-term prospect.

Private central banks

All the first central banks were established in the form of private joint-stock companies. After World War II the majority of them were nationalized. However the small group of central banks continues to remain in private property. Though their financial activities do not differ from other central banks, private property has an essential influence on corporate governance.

ОСОБЛИВОСТІ ПРАВОВОГО СТАТУСУ ПУБЛІЧНОГО АКЦІОНЕРНОГО ТОВАРИСТВА

We have considered the economic and legal situation of public joint stock companies in Ukraine. The analysis of the main features of a public joint - stock company as one of the most perfect legal mechanisms for the organization of the economy on the basis of combining the property of legal entities and individuals. In the course of performance of work historical features of emergence of such legal category as public joint-stock company were established. A study of the stages of enshrining the concept of "public joint stock company" in Ukrainian legislation during the existence of independent Ukraine, which was covered in a number of regulations, such as the Law of Ukraine "On Amendments to Certain Legislative Acts of Ukraine on Investor Protection", Law of Ukraine On Amendments to Certain Legislative Acts of Ukraine Concerning Simplification of Doing Business and Attracting Investments by Issuers of Securities ”, Law of Ukraine“On Management of State Property”, Law of Ukraine“ On Joint Stock Companies ”, etc. We have studied the relationships that arise directly during the activities of public companies. In particular, such relations apply to its governing bodies, which include: the general meeting as the highest governing body of the company, the supervisory board, which protects the rights of shareholders and regulates the executive body, and the executive body, which manages the current activities of the company. It is argued that public joint stock companies are subjects of the public sector of the economy, which in turn is the cause of a special process of activity, property regime, more stringent requirements for existence than private joint stock companies. The generalization of conclusions and information in the doctrinal literature related to this topic is made.

Strategy Planning for Joint-stock Companies, Case Study: Software Development and Production in DIDGAH RAYANEH SAMA

Sometimes in private joint-stock enterprises, the directorate and the main stockholders try to change some of the director's decisions with exertion. Sometimes the directorate's ideas and aims are different than those of the director. So in such companies planning is a little different. Private joint-stock companies mostly focus in providing services and total support of the customer in order to gain more benefit and a bigger share of the market with satisfying the costumers’ desires. Therefore aim of this paper would be planning of company's strategy based on environmental analysis and with taking care of the goals of the company. Nowadays having a strategic plann is necessary for a company existence. One of popular techniques for these such planning is David's model. David's model is used by many governmental, semi-governmental and private companies and also is used in training, servicing, constructing and transporting. In this paper we formulate a strategic plan for a private joint-stock computer enterprise named DIDGAH RAYANEH SAMA.

Increase in electrolythic cell indices

The results of applied research of electrolytic cells with various constructions process parameters and electrochemical systems check by means of electrolysis current control are represented. The results of back EMF and electrolytic cell resistance control techniques implementation are considered. At the Private Joint Stock Company “Zavod Poluprovodnikov” (“Semiconductor Plant”) (Zaporozhye) the hydrogen electrolytic cell electrochemical parameters control through conductometric method application with use of aluminum electrolytic production experimental results, obtained at the PJSC “ZAlK, is introduced. On the ground of aluminum electrolytic production results the hydrogen electrolytic cell control techniques have been designed and introduced. After all technical arrangements have been carried out, their implementation made it possible to reduce the hydrogen production power consumption from 5,6 to 5,3 kW/h, an save 800 000 UAH for each electrolytic cell annually.The new electrolysis current control techniques, aiming at electrolytic cell technological parameters control and improvement in the supervision process quality are currently discussed.

Saudi Arabian IPOs and Privatized Firms Profitability

A sample of 21 privatized and IPO Saudi firms has been examined in this paper. Consistent with the relative literature on privatization and IPOs, we have documented two contrasting outcomes. First, we found that Saudi State Owned Enterprises SOEs and the private joint stock companies are showing a large improvement after-IPO as compared to the pre-IPO financial performance. On the contrary, we found a financial performance deterioration among the family owned businesses or the limited liability type of firms after the IPO compared to the pre-IPO level as measured by the return on assets (ROA) and return on sales (ROS).

The life insurance industry in South Africa

industry in terms of products, services and distribution infrastructure. The highly developed life insurance industry makes a significant contribution to this sophistication. The assets of life insurance companies and pension funds correspond to well over 80% of GDP, a ratio that is higher than in the United States and Canada, though lower than in Switzerland, the Netherlands and the UK. More significantly, South Africa has the highest level of life insurance premiums in relation to GDP in the world, with total life premiums amounting to 10,3% of GDP (Sigma, March 1994). The growth of the industry can be explained not only by the fiscal incentives that have supported the creation of funded company schemes as well as voluntary saving with insurance companies, but also by the achievement over long periods of high rates of return relative to those available on alternative fixed interest investments. Its impressive record of innovation has been an important factor. South African insurance companies claim to have invented universal life and annuity policies. More recently, insurance companies have innovated with policies linked to serious illnesses, so-called dread disease policies. Structure of the industry A feature of the life insurance industry in South Africa is its very high concentration and the dominance of the sector by two long standing but very efficient mutual organizations, Old Mutual and Sanlam. These have strong interests throughout the financial sector and maintain large holdings in numerous industrial and commercial companies. The two largest companies each account for some one-third of total premiums, giving a combined total of two-thirds of the market. Two private joint-stock companies, Liberty with some 10% and Southern with around 7,5% of the market, underscore the concentration of the industry as the four largest groups control some five-sixths of total premiums. The other 27 life companies share the remaining one-sixth.