State Corporate Research Articles

How much state ownership is more conducive to corporate innovation in firms? Evidence from China

ABSTRACT Using 2009 to 2020 data for Chinese A-share listed firms in Shanghai and Shenzhen, we examine how much state ownership in firms is most conducive to improving corporate innovation quantity and quality. Our results are as follows: First, state ownership enhances corporate innovation by alleviating financing constraints (resource availability) but inhibits corporate innovation by weakening risk-taking (innovation willingness) and increasing agency costs (resource efficiency), leading to an inverted U-shaped relationship between state ownership and corporate innovation. Second, the percentage of state ownership that maximises innovation quality differs from that of maximising innovation quantity. State-owned enterprises (SOEs) can choose an appropriate state-ownership structure according to the actual situation in the mixed-ownership reform process. Third, non-state-owned shareholders’ control right negatively moderates the inverted U-shaped relationship between state ownership and innovation quantity but do not significantly moderate the inverted U-shaped relationship between state ownership and innovation quality. Fourth, foreign direct investment (FDI) negatively moderates the inverted U-shaped relationship between state ownership and innovation quantity and quality. Our findings reveal the impact of state ownership on corporate innovation and its transmission path, providing empirical evidence for optimising the ownership structure based on a corporate innovation perspective in the process of SOE mixed-ownership reform.

The current state of the Russian corporate lending market

The need for close cooperation between banks and corporate borrowers is due to the fact that corporate borrowers, represented, as a rule, by subjects of the real sector of the economy, contribute to the growth of GDP and the growth of the Russian economy as a whole. the evolution of the state of the Russian corporate lending market at different stages of its development is characterized by cyclicity and is determined by the influence of factors such as: liquidity crises, interest rate dynamics, the financial situation of borrowers, changes in lending conditions by banks, etc. the current state of the Russian corporate lending market is burdened by a number of problems, the solution of which is of key importance for the development of both the banking sector and the real sector of the economy.

Corporate Persons, Collective Responsibility, and the Literary Imagination

This essay examines the contributions of Lisa Siraganian’s Modernism and the Meaning of Corporate Persons (2021) to our understanding of the historical development and philosophical underpinning of United States corporate law as well as to broader studies of law and literature. The first part of the essay considers Siraganian’s analysis of problems related to corporate agency, intention, and responsibility. The second part considers the book’s implications for other types of collective social entities. In particular, the essay reads Ida Fink’s The Table (1970) and Charles Reznikoff’s Holocaust (1975) through the lens of Siraganian’s study, examining their treatment of the challenges posed by the collective nature of the Nazi genocide. The essay suggests that Siraganian’s book not only offers strikingly new insights about modern literature, thought, and culture but also gives us the resources to think better about corporate accountability broadly conceived.

НЕКОТОРЫЕ ОРГАНИЗАЦИОННЫЕ И МЕТОДИЧЕСКИЕ АСПЕКТЫ ПСИХОФИЗИОЛОГИЧЕСКОГО ОБЕСПЕЧЕНИЯ ФУНКЦИОНАЛЬНОЙ НАДЕЖНОСТИ ПЕРСОНАЛА АТОМНОЙ ОТРАСЛИ РОССИИ

Purpose: To improve organizational and methodological approaches to psycho-physiological support of functional reliability of Russian nuclear workers. Results: The authors’ position on a number of topical organizational and methodological issues of psycho-physiological support of functional reliability of nuclear workers is presented. Measures aimed at optimizing the interaction of medical organizations of the FMBA of Russia and organizations of the Rosatom State Corporation in the preparation and conduct of psychophysiological examinations are proposed. The optimal solution to this problem, according to the authors, is the development of a joint regulatory document defining the rights and obligations of both parties by the FMBA of Russia and the State Corporation. The expediency of avoiding duplication in carrying out a number of diagnostic techniques after developing a mechanism for transferring test results from medical organizations of the FMBA of Russia to organizations of the Rosatom State Corporation is shown. According to the authors, the following issues are to be improved: a) the existing diagnostic arsenal, taking into account new technological capabilities, and having in mind the fact that some important tests are easily available on the Internet; b) the content of methodological recommendations, which should describe in detail sensorimotor and other tests, allowing for a variety of their interpretations, to ensure the invariance of their computer implementations. Such measures will increase the diagnostic value of the tests used, as well as the comparability of the results obtained using various software and hardware complexes. Authors also propose to reconsider the role of the Scientific and Technical Council of the State Corporation in improving the functional reliability of the personnel of the industry by integrating psycho-physiological and other areas related to human resources into the general research topics. Proposed actions: a) to create a thematic scientific and technical council on human resource management and reduction of anthropogenic risks including specialists in psycho-physiological, psychological, medical, sanitary-hygienic, ergonomic and other aspects of ensuring the functional reliability of personnel, and to elect a scientific adviser of the council; b) to include the development plan for the direction of ensuring the functional reliability of personnel in the new edition of the “Program of Innovative Development and Technological Upgrading of the Rosatom State Corporation for the Period up to 2030”; c) to add the direction on improving the reliability of the human factor in the Unified Industry Thematic Plan of Research and Development Work of the Rosatom State Corporation; d) to include the most important reports related to human resource management and reduction of anthropogenic risks in the plenary sessions of the conferences “Radiation Protection and Radiation Safety in Nuclear Technologies”. Conclusion: The above proposals are aimed at improving the organizational and methodological aspects of the psycho-physiological direction in ensuring the functional reliability of nuclear workers. According to the authors, this direction should be part of the human resource management system and the reduction of anthropogenic risks in the nuclear industry. The research part of this system should be integrated into the activities of the Scientific and Technical Council of the Rosatom State Corporation and meet the requirements of a systematic approach.

공익사업 피수용자 세제개선 방안

So-called project operators such as the State, local governments, Land and Housing Corporation, and Urban Development Corporation implement public projects based on the Land Compensation Act, the Urban Development Act, the Housing Site Development Promotion Act, etc., tourism complexes, logistics complexes, etc. are being developed or constructed. Recently, public service projects have been delayed due to the increase in expropriation decisions, objection rulings, and administrative lawsuits filed by project operators regarding the compensation for losses from public service projects. In addition, despite the increasing number of lands of unknown ownership due to the impact of low birth rate and population aging and the decrease in land use desire due to movement from non-urban areas to urban areas, there are limitations in promoting smooth public projects by temporarily applying the Act on Special Measures for Registration of Ownership Transfer. , the economic cost is increasing. To clarify that capital gains tax, business income tax, other income tax, corporate tax, value-added tax, inheritance tax, gift tax, etc. are imposed according to the concept of transfer following the expropriation of land, etc. A special taxation system under the Restriction Act will be considered. By comparatively examining legislative cases in the United States, France, Canada, Japan, etc. on the special taxation system based on public expropriation, we present Korea's tax improvement points. In the case of land, etc., when a purchase by agreement is concluded within 6 months from the date of request for the purchase by agreement or real estate is transferred for public service use within 2 years due to alternative acquisition through land expropriation, a special limit of KRW 100 million per year is limited to KRW 300 million for 5 years A deduction system should be introduced. In addition, as the promotion of public utility projects is delayed due to the land of unknown owner and a lot of administrative expenses are required, the Act on Special Measures for the Use of Unknown Owner is enacted and special taxation system for land of unknown owner as in Japanese legislation. should be institutionalized. In addition, if the inmate files an objection or an administrative litigation when the project operator expropriates land, etc. for public works, the amount of compensation for losses is increased by adding the management principle while maintaining the principle of determination of the timing of attributing income and expenses. In such cases, it shall be the date of final judgment or final judgment of the objection, and if the amount of compensation for loss has not changed or has been reduced, it shall be regarded as the date on which the project operator deposits according to the judgment of expropriation.

공익사업 피수용자 세제개선 방안

So-called project operators such as the State, local governments, Land and Housing Corporation, and Urban Development Corporation implement public projects based on the Land Compensation Act, the Urban Development Act, the Housing Site Development Promotion Act, etc., tourism complexes, logistics complexes, etc. are being developed or constructed. Recently, public service projects have been delayed due to the increase in expropriation decisions, objection rulings, and administrative lawsuits filed by project operators regarding the compensation for losses from public service projects. In addition, despite the increasing number of lands of unknown ownership due to the impact of low birth rate and population aging and the decrease in land use desire due to movement from non-urban areas to urban areas, there are limitations in promoting smooth public projects by temporarily applying the Act on Special Measures for Registration of Ownership Transfer. , the economic cost is increasing. To clarify that capital gains tax, business income tax, other income tax, corporate tax, value-added tax, inheritance tax, gift tax, etc. are imposed according to the concept of transfer following the expropriation of land, etc. A special taxation system under the Restriction Act will be considered. By comparatively examining legislative cases in the United States, France, Canada, Japan, etc. on the special taxation system based on public expropriation, we present Korea's tax improvement points. In the case of land, etc., when a purchase by agreement is concluded within 6 months from the date of request for the purchase by agreement or real estate is transferred for public service use within 2 years due to alternative acquisition through land expropriation, a special limit of KRW 100 million per year is limited to KRW 300 million for 5 years A deduction system should be introduced. In addition, as the promotion of public utility projects is delayed due to the land of unknown owner and a lot of administrative expenses are required, the Act on Special Measures for the Use of Unknown Owner is enacted and special taxation system for land of unknown owner as in Japanese legislation. should be institutionalized. In addition, if the inmate files an objection or an administrative litigation when the project operator expropriates land, etc. for public works, the amount of compensation for losses is increased by adding the management principle while maintaining the principle of determination of the timing of attributing income and expenses. In such cases, it shall be the date of final judgment or final judgment of the objection, and if the amount of compensation for loss has not changed or has been reduced, it shall be regarded as the date on which the project operator deposits according to the judgment of expropriation.

The new “corporate state”: The meshing of corporate and political power and the erosion of democratic accountability in the UK

AbstractThis article argues that since 1979, in the UK, democratic accountability has been eroded—in spite of the far greater emphasis formally placed upon meeting the ideal of transparent workings of power. First, we look at structural reforms made to the government by Margaret Thatcher and how these led to an attenuation of ministerial accountability. Second, we consider how the increasing role of accountants and management consultants in formulating and delivering government policy subverts the ideal of a disinterested bureaucracy and results in a blurring of private (for‐profit) and public interests.

The dual role of state shareholders in disclosed corporate misconduct: Evidence from China

AbstractBy adopting a legitimacy perspective rooted in institutional theory, this study investigates the dual role of state ownership in corporate misconduct in emerging economies: monitoring role constraining misconduct commission and patronage role leading to less disclosure. Using a sample of listed firms in China, we find a negative relationship between state ownership and corporate misconduct. Furthermore, the negative effect of state ownership on misconduct will be stronger when the firm affiliation is high and the firm has politically connected executives. The impact will be weaker when the number of local listed firms is greater and the regional inspection is intense.

Role of University Strategic Initiatives in Service and Infrastructure Model to Develop the City of State Corporation "Rosatom" Presence Using VЕTI NRNU MEPhI as an Example

The paper considers the model of service and infrastructure development of the city of Volgodonsk which is based on the approach that takes into account the existing potential in the territory of the urban agglomeration and is aimed at a more intensive use of available opportunities. As a result of the implementation of the Strategy of its socio-economic development until 2030, the city of Volgodonsk should become a city of scientific and technical intellectuals. And an important role in achieving this mission is assigned to the Volgodonsk Engineering and Technical Institute (branch of MEPhI). This university is considered as a driver of "intellectual prosperity" of the Rostov NPP location. VITI MEPhI translates in the region the interests of MEPhI as a strategic partner of SC "Rosatom" in the field of personnel training. The development strategy of VITI MEPhI is aimed at preservation and multiplication of the achieved results taking into account modern trends of education development and establishes key objectives, tasks, specific directions, mechanisms ensuring further development of the Institute at the present stage of functioning of the system of higher professional education.

Value-based approach in communication management as an innovative solution of Russia's nuclear power industry

Nuclear power represents a wide communication potential and technological capabilities. At the same time, the field of nuclear energy is undergoing a state of crisis that hinders its development. The purpose of the article is to prove the hypothesis that the introduction of a value-based approach to communication management will help overcome existing problems and thereby significantly increase the efficiency of the nuclear industry. The innovative impact of the introduction of the value-based approach in one of the divisions of ROSATOM State Corporation is considered. The concepts of VBA, which are essential for understanding communication management, are described; the main components of the VBA are considered, and the key stages of its implementation in an energy company are outlined. The principles testifying to the correct development of the company after changing the course of communication management based on the approach are given. Based on the results of a comprehensive analysis, estimates of ROSATOM's value-focused activities in the cities of its presence are given: the corporation's value-oriented programs and projects are analyzed, the basics of information and communication policy and top-priority strategic components in the communication management system are formulated. The influence of the VBA, as an innovation, on the reputation of the company and the effectiveness of its activities is revealed. The research methodology contains a set of approaches that have been developed in PR practice, including categorical analysis based on theoretical sources, content analysis of information flows generated by the company, consideration of an example of implemented VBA implementation activities in the company's corporate environment, as well as a heuristic method of participant observation. The considered specific examples of VBA implementation in ROSATOM's fuel division have made it possible to determine the innovative nature and unparalleled impact of this approach at the current stage of civilization development.

Threats to information security of state corporations of the Russian Federation

Objectives. Structuring of publicly available information to identify the distinctive features inherent in state corporations of the Russian Federation and to describe the threats arising as a result of their continuous operation.Method. The following methods of scientific cognition are used: systematization, description, analysis, deduction. The characteristics of state corporations are formed on the basis of data obtained both from the regulatory framework and by means of analysis of modern research in the field. In the future, the systematization of knowledge about the threats of state corporations is carried out, the most common classifications are considered, the increasing activity of intruders regarding critical information infrastructure objects is noted, and possible consequences for the state corporation after a successful computer attack on them are noted.Result. In this paper, a study was conducted on a little–covered area in the scientific literature - the protection of Russian state corporations. A comprehensive analysis made it possible to characterize the object of research in detail, thereby specifying the significant aspects of its functioning. Next, the most significant threats of Russian state corporations were shown, the importance of ensuring information security was noted and 15 factor influences of a successful cyberattack were shown.Conclusions. The conducted research is of an overview nature. The materials presented in the paper can serve as a basis for further research in the direction, as well as the formation of principles of protection against the mentioned threats.

Risk Management Within the Framework of the Concept of Sustainable Development

The issues related to the transformation of risk management subsystems within the framework of the concept of sustainable development in companies, enterprises, firms and organizations are considered. The ways of solving problems aimed at the formation of separate subsystems of riskmanagement, within which the concept of sustainable development is fully taken into account, are proposed. Th e variants of embedding such subsystems into existing management systems are analyzed.The goal-setting procedures of companies are proposed, coordinated with the principles of sustainable development and taking into account social, environmental and other risks. The analyzed goals are divided into four groups. Relevant risks are identifi ed, identifi ed and described for each of the groups. It is noted that there is a need for careful regulation of the processes of creating and reformatting risk management subsystems, taking into account compliance with the principles of sustainable development. The proposed methods for the formation of risk management subsystems are partially illustrated by the example of a large company that is part of the Rosatom State Corporation.

Procurement Contract Management and Sustainable Performance of State Corporations in Kenya

Purpose: The purpose of this study was to establish the effect of procurement contract management on sustainable performance of state corporations in Kenya.
 Methodology: The research design used in this research was mixed-methods research design. The study focused on 187 state corporation as the target population. Census was applied where all state corporations were surveyed and purposive sampling was used to pick the finance manager and the procurement manager which resulted to 374 respondents. The study main source of data was primary data which was gathered using research questionnaires. The gathered data was assessed with the help of Statistical Package for Social Sciences (SPSS) Version 28. The study carried out both descriptive and inferential analysis to draw conclusions.
 Results: The inferential analysis results revealed that procurement contract management had a significant and positive influence on the sustainable performance of state corporations in Kenya at p<0.05. This indicates that contract preparation, contract administration, contract control and monitoring and contract conflicts resolution mechanisms are crucial drivers of sustainable performance of an organization. The model summary found that a unit change in procurement contract management may account for a variability of 45.1% in a firm's sustainable performance. The R value for the model was 0.670 and the R2 was 0.451. This was a sign that the model was appropriate for establishing the link between procurement contract management and sustainable performance and, as a result, for drawing the conclusions and suggestions from the study.
 Unique Contribution to Theory, Practice and Policy: While the existing theory of public contracts used in this study was validated, the study recommends that the government through the appropriate regulatory agencies and the management of public procuring entities have the mandate to make sure that appropriate oversight of the management of contracts in state corporations is carried out as a means of ensuring accountability and justice throughout the entire process. According to the study, policymakers and state regulatory organizations should take the lead in making sure that contracts are properly documented and that they are diligently and effectively managed to ensure full adherence to the rules and regulations.

Rosatom State Corporation: Assessment of strategic choice in the context of the results of activities

Decisions on the establishment of all companies in the organizational and legal form of "state corporation" (hereinafter — GC, State Corporation) in the "zero years" and GC "Rosatom" in particular were taken in extremely heated discussions, including the official denial of the legality of such a foundation. In connection with the fifteenth anniversary since the establishment of the Rosatom State Corporation, it is advisable to evaluate the results obtained, promising opportunities for further application, development, as well as the legality of extending this legal form to other areas of production.
 These tasks require consideration — the features of this organizational and legal form of the state corporation, its structural and economic organization, management system, the results of production, economic and innovation activities, including participation in the processes of global energy transition, and finally — the goals and objectives of strategic planning and its implementation.
 Research objectives — to substantiate the high and enduring systemic potential, on the one hand, of the managerial and legal organization imputed to Rosatom State Corporation by federal law on the scale of sectoral management, and on the other hand, of the structural and economic organization within the entire nuclear energy industry. In the analysis of the reporting and planning documents of Rosatom State Corporation, a system-structural approach was used, including the aspect of system synergy, methods of analogies and comparisons.

ДОСВІД РОЗБУДОВИ ТЕРИТОРІІ ХОРВАТІЇ ПІСЛЯ ЗБРОЙНОГО КОНФЛІКТУ: УМОВИ, ПРІОРИТЕТИ ТА ІНСТРУМЕНТАРІЙ

The article examines experience of the Republic of Croatia in the development of de-occupied and affected territories post the armed conflict. The authors analyzed economic and legal conditions for the construction of the Croatian territories destroyed after the armed conflict and their financial support by international donors through the creation of local economic development agencies, development and implementation of the local economic development concept in Croatia and adaptation of the legal framework to new economic goals. The priorities and four components of the strategic project of the social and economic recovery of Croatia have been determined. The first component of the project aimed at attracting investment in territorial communities, the second component devoted to the process of demining de-occupied territories, the third is the provision of consulting services to strengthen management potential, and the fourth component of the project aimed at supporting sub-projects in such areas as: social integration, economic revival and infrastructure for small communities in Croatia. The article demonstrates the economic and legal instruments of special state support for the development of the de-occupied territories of Croatia as well as the classification of territories requiring special state support. Emphasis placed on the expediency of state administration decentralization and the use of tax incentives, including real estate transfer tax, income tax received in the territory of special state supervision and corporate tax. In addition, noteworthy is the creation of three types of territories that received special state aid through income tax exemption or tax rate differentiation over time. Special state support was provided by providing housing to the population affected by the “Croatian War”. The conducted research made possible to establish the successes and shortcomings of the Croatian experience for the possible extrapolation of developments to Ukrainian realities.

“THE GORBACHEV PHENOMENON”: THE COLLAPSE OF THE USSR THROUGH THE PRISM OF THE NEW POLITICAL ECONOMY

The tools of the new political economy are rarely used in the analysis of the problems of the Soviet economy. A homogeneous society without class contradictions, with a quota socialist electoral system, and the absolute dominance of one ruling party formally contradicts the basic premises of this toolkit. At present time most researchers agree, that Soviet society was heterogeneous (some scientists even attribute class contradictions to it), but do not go any further. This progress is contradicted by the idea of the USSR as an ideocratic state, based on the civil religion of Marxism-Leninism. But the latter explains the stability of the political regime, not its collapse. The new political economy makes it possible to notice that the USSR was a formal confederation, which became a reality when party influence was neutralized, as well as a corporate state, within which there was a sharp political struggle for resources. These relations were masked by the myth of public property, which was socialist state property. As it seemed to Soviet theoreticians, a single national economic complex was indivisible. The rupture of economic ties was not beneficial to both enterprises and national elites. Nevertheless, the Soviet conditions made the orientation towards obtaining the maximum of centralized investments with the subsequent withdrawal of the republic from the single economic space quite rational. Institutional conditions, within which the institutions that protect the state from disintegration are neutralized, are periodically encountered in situations of power transit. The «Gorbachev Phenomenon» is a situation in which there is a paralysis of power associated with sharp contradictions within the ruling coalition. In such a situation, the private interests of small groups become politically legitimate, and it is almost impossible to stop the collapse of the state.

INVENTORY MANAGEMENT AND SUSTAINABLE PERFORMANCE OF STATE CORPORATIONS IN KENYA

Purpose: The purpose of this study was to examine the effect of inventory management on sustainable performance of state corporations in Kenya.
 Methodology: The descriptive research design was applied in carrying out the study. The respondents of the study included the heads of finance and procurement department in all 187 state corporations in Kenya. Census was used in this study where the head of procurement department and the head of finance in each state corporation that resulted to 374 study respondents. This study used a questionnaire as the main research tool to collect primary data. Descriptive analysis and inferential analysis was carried out which was made possible through the use of Statistical Package for Social Sciences (SPSS) version 26. 
 Findings: Inventory management significantly affected the sustainability of state corporations in Kenya at p<0.05. This shows that upholding inventory management would be essential in steering the sustainable performance of the state corporations. The regression model established that the R value was 0.633 while the R2 was 0.401 which indicated that the variability of the inventory management on the sustainable performance of the state corporations in Kenya could be explained by up to 40.1% of the model and the P-value was 0.000<0.05. This implies that the model was fit to determine the relationship between the inventory management and sustainable performance and therein make conclusions and recommendations.
 Unique contribution to theory, practice and policy: While the existing inventory management theory used in this study was validated, the study recommends that the accounting as well as procurement officer in each state procuring entity need to ensure that all proper stock levels are kept as per the regulation through proper verification and processing of all requirements, adhering to prescribed stock policies in the Regulation and ensuring that they duly consider safety stock and lead time when replenishing to ensure appropriate stock levels are kept at all time. The study recommended that public procuring entities policy makers need to establish a policy framework to expedite effective adoption of best inventory management systems to facilitate sustainable performance.

Tax and legal status of subjects carrying out space activities

In the process of carrying out space activities, many issues arise that require legal regulation. The space industry functions through the activities of government bodies, scientific and industrial organizations. Currently, the commercial component of space activities is developing. In this regard, the issues of the legal status of the state corporation «Roscosmos», various business companies and non-profit structures performing specific tasks in the field of space activities, as well as the organization of public-private partnership, are of particular importance. In addition, tax aspects directly affect the activities of all subjects of space activities.

Financing of space activities and implementation of budget monitoring of the implementation of state space programs

The identification of the financing of space activities is based on regulatory legal acts regulating the procedure for the development of state programs, comprehensive state programs in the field of space activities. The forms and conditions of the implementation of federal projects for the implementation of works in the field of space on the basis of state contracts, the execution of which is carried out at the expense of the organizations of the state corporation «Roscosmos». The budgetary monitoring of programs in the space sphere is considered.

Austrian-Italian Encounters: Notes on Some Films Produced Between Rome and Vienna in the 1930s

Abstract This essay deals with a number of Italian and Austrian films produced around the mid-1930s as a result of the cinematic cooperation that developed between Rome and Vienna at the time. The essay’s goal is to investigate a complex chapter in the history of Italian and Austrian film which has yet received little attention. The Austro-Italian cooperation in the field of film, which developed against the backdrop of the political alliance between Fascist Italy and Austria’s so-called Corporate State, involved some of the biggest names in Italian and Austrian cinema of the time, including Italian directors Carmine Gallone, Augusto Genina and Goffredo Alessandrini, Viennese screenwriter Walter Reisch, and Italian novelist Corrado Alvaro. In particular, the essay will consider the Italian film Casta Diva (1935) and its debt to one of the most famous Austrian productions of the 1930s, Willi Forst’s film Leise flehen meine Lieder (1933). Further films to be discussed include Tagebuch der Geliebten (1935), Una donna tra due mondi (1936), Opernring (1936), and Blumen aus Nizza (1936). Tagebuch der Geliebten was based on the diary of Russian painter Marie Bashkirtseff, who lived in Paris in the late 19th century. Una donna tra due mondi starred Italian diva Isa Miranda, Opernring Polish tenor Jan Kiepura, Blumen aus Nizza German singer Erna Sack.These films should be truly regarded as transnational productions, in which various cultural traditions and stylistic influences coalesced. By investigating them, this essay aims to shed light on a crucial period in the history of European cinema.