ВЕСТНИК МОСКОВСКОГО УНИВЕРСИТЕТА. СЕРИЯ 6: ЭКОНОМИКА

0130-0105

  • Publisher Федеральное государственное бюджетное образовательное учреждение высшего образования "Московский государственный университет им. М.В. Ломоносова"
  • Country Россия
  • Web https://www.elibrary.ru/title_about_new.asp?id=8511

Content

Breakthrough Product Development in Mature Company

Laptev G.D., Shaytan D.K.

Situational approach in management and continuous experimentation becomes a style of doing business for creators of breakthrough new products and innovative start-up companies. A company that successfully started with a breakthrough product, and developed into successful structured business, after some time, would start to lose its ability to create breakthrough new products. Internal corporate procedures and business processes, including the process of creating a new product become more formalized. Exploratory type of works at the initial stage, full of uncertainties in the process of new product development, is poorly formalized and requires flexible approach in management. Creative chaos that was on a start-up stage and that feed teams with fresh ideas disappears. Fireplace for creativity fades. Loss of this competitiveness is a serious argument to develop new approaches to arrange process of creating new products in a mature stage of business development. In the article based on experience in new product development we explore this actual problem and propose a novel approach for the passage of the high uncertainty stage, called “the fuzzy front end of innovation”, to create innovative products in matured businesses.

Globalization or the Debt Crisis of the Economy (Review of the Monograph “Debt Problem as the 21st Century’s Phenomenon”. Ed. by A.A. Prorkhovsky)

Tolkachev S.A., Tsvetkova T.M.

This material is a review of the monograph edited by Anatoly A. Porokhovsky “Debt Problem as the 21st century’s Phenomenon”. The book discusses the causes, scale and reproduction role of different kinds and levels debts which are opened in national and world economy.

Inflation Targeting and Economic Growth

Kartaev F.S.

The article addresses the influence of transition to the inflation targeting policy on the economic growth. It contains an analysis of different theoretical approaches to the explanation of monetary policy impact mechanism on real economy long-term dynamics. The article also presents the results of econometric research of the relation between inflation targeting regime and economic growth rates in developed countries based on the most recent data. The results of this research let conclude, that transition to the inflation targeting policy is associated with higher GDP growth rates.

Influence of Financial Condition of the Acquiring Company on Dividend Policy of the Target Company after M&A Deal

Zaltsman A.A.

The paper is devoted to dividend policy of companies that became a target of M&A deal but remained public. Multivariate regression analysis on the sample of 1442 deals completed in 1992-2012 reveals that dividend policy of target companies is significantly influenced by financial condition of acquirers, especially in countries with weaker protection of rights of minority shareholders. The worse is the condition, the higher are dividend payouts. The results demonstrate that dividend policy of public companies can frequently be determined by current interest of the majority shareholder, namely its demand for cash assets. Furthermore, additional evidence that with other things being equal companies pay higher dividends in countries with better protection of rights of minority shareholders is obtained.

Process Innovations under Cournot Competition for

Shastitko A.E.

This study reveals incentives for process innovations and their effects related to different conditions of creation process and the provision of an access to the results of intellectual activity for companies in the absence of antitrust restrictions and unfair competition. The model of the process innovation is designed for competition à la Cournot for N firms. Conclusions on the effect of process innovations on changes in prices, volumes, consumer surplus and industry profit are presented. A numerical example is employed to identify cost thresholds for innovations and conditions for voluntary licensing. It is shown that the total effects of innovations are higher than the effects related to the returns of technological leader. This indicates not only the problem of probable underinvestment but also demonstrates transaction cost arising form the process innovation. Technology competition and cooperation cases for three initially symmetric firms are discussed.

The Economic History of Classical Feudalism (by the Example of France)

Khudokormov A.G.

A brief course of lectures (introduction and three lectures) is dedicated to the social and economic history of France, as the main country of the medieval era. The course addresses issues of the genesis of the classic French feudalism. Special attention is paid to the problem of formation of the feudal land ownership from allodium and benefice to the hereditary feud (fief). The course interprets the feudal division causes and ways to overcome it, as well as the evolution of the socio-economic characteristics of the main classes of French feudal society, most of all the nobility and dependent peasants. Particular attention is paid to the economic policy of absolutism in France, which was reflected in the work of famous historical figures: King Henry IV, his first minister Maximilien Sully, the Cardinal de Richelieu, the Controller-General of Finances Jean-Baptiste Colbert. Lecture 1. The genesis of classical feudalism in France is in the issue. Lecture 2 and Lecture 3 can be read in the journal "Scientific researches of faculty of economics. Electronic magazine" [Khudokormov, 2015].

The Impact of Urbanization on Agricultural Land Use

Belova E.V., Rozenfeld Yu.N.

The subject of the study presented in this article is the economic relations arising due to the progress of the urbanization that leads to changes in agricultural production. For a long time in Russia a reduction of agricultural land, arable land and crops takes place. One reason for this is the global progress of urbanization. Changes in agricultural land use occur across the country however this process is uneven in different regions. Among all regions Moscow and Moscow region significantly stand out. The study showed that in the more urbanized regions of the country reduction of the agricultural land and changes in agricultural land use are greater than in less urbanized ones.

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