Вестник Московского университета. Серия 6: Экономика



Analysis of Financial Innovative Potential

Korovin A.V.

This article deals with the problem of the analysis of financial innovative potential of an enterprise when determining the strategy of innovative development. The author suggests methods of evaluating the sufficiency of financial and economic resources for strategic innovative and productive activities. This approach helps to obtain dynamic equilibrium of an entity's productive and strategic innovative activities and to make a choice for realization of new and improved technologies. The article also considers calculation of costs of innovative development's strategy realization and market prospects for innovative investments.

Definition of an Effective Way of Financing of the Basic Means in the Conditions of Currency and Interest Rate Risks

Kolotov Y.V., Nepp A.N.

The article outlines a method of analyzing the efficiency of a company's debt policy in the currency and interest rate risk environment. It introduces a range of evaluation indicators for the different ways of financing companies' investment in fixed assets taking into account interest rate and currency risks. To forecast those risks, Monte-Carlo simulations are employed. The proposed evaluation techniques are applied to select the best source of financing the purchase of telecommunication equipment by a large Russian telecom provider, OJSC Uralsvyazinform. The methods described here can be used to set up a scorecard model for prioritizing the financing sources at Russian enterprises operating in the situation of currency and interest rate uncertainty.

Methodological Problems of Application of Event Study Method in Financial Researches

Klimarev N.V., Studnikov S.S.

The promising method in financial researches called «event study» has three disadvantages: definition of the length of the event window, the length of the estimation window and the method of normal return estimation. Authors offer a universal classification of events in financial researches which consists of 16 unique types of events. Authors propose the length of the event and the estimation windows for each type of events.

Pakhomova N.V. Environmental Economy, Sustainable Development and Environmental Management

Bobrov A.L., Palt M.V., Pakhomova N.V.

The article deals with the relationship of a new scientific direction of the envarayromental economy and sustainable development.

Social and Economic Problems of Affordability of Housing and Public Utility Services

Boyarintsev B.I., Kraeva O.N.

The article covers issues of affordability of housing and public utility services depending on the type of public goods these utilities fall into, namely pure public goods, mixed public goods or pure private goods. Also it describes a model of rendering housing and public utility services in the emerging market. The model includes factors that restrict market functioning in the field of housing and public utility services.

The Model of Leading Indicators of Balance-of-Payments Crisis

Sinelnikov I.V.

The given article tackles the problem of leading indicators of balance-of-payments crisis and provides an original model of corporate sector's threshold creditworthiness. The author focuses on international creditworthiness dynamics, used to determine capital flows under model's assumptions. The model assumed credit rating was an instrument of unfair competition. It exploits by international rivals of national firms. The model's conclusions have qualitative properties, but allow to estimate an efficiency leading indicators system in a special cases.

The National Tax Policy into Postcrisis Situation

Karavaeva I.V.

We consider the problem of disparity between main directions of development budget policy and tax policy in National budget by 2012-2014 and methods their realization. We offer the ways of modernization by system taxation by artificial persons and physical persons.

Theoretical Bases of the Analysis of a Consumer Society

Buneeva M.V.

In the conditions of a modern valuable situation in the russian society consumption represents itself as the constituting, value-organizing environment in relation to the major elements of culture. As functioning of social system directly is connected with valuable orientations and motivations of the individuals, who are carrying out of identical social practice, consumption influencing on value-world outlook semiocode also transforms social system.

Theory of Marginal Utility as Consequence of Labor Theory of Value?

Buzgalin A.V., Kolganov A.I.

Authors shows the importance of the reactualisation of the Labor Theory of Value as methodology for understanding of the nature, contradictions and limits of evolution of market economy. They argue, that theory of marginal utility, theory of factors of production and marginal productivity, quantitative theory of money can be represented as models of fictitious content of transformed forms of economic performance, typical for appearance of capitalist system

To a Question about Optimum Currency Area Theory

Ponin F.A.

The article examines the development of optimum currency area (OCA) theory since its' emergence in the second half of XX century until the present. Special attention is paid to seminal works on OCA theory and criticism of these works. Achievements of contemporary researchers that have principle impact on further development of OCA theory are examined.

To Clarification of Concepts Property Rights Property Rights Specification

Lozhkina E.G.

The paper is to fill a gap in modern economic property rights theory. The latter explores property rights significance in the sense of effective resources placement in the world of positive transaction costs. However these solid theoretical results aren't underpinned by appropriate research instruments, well enough for empirical verification. Based on law and economics analyses synthesis there're convenient-for-work definitions of property rights and property rights specification in the paper.

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