The paper deals with the concept of culture and cultural capital in the economic theory. The concept of culture is analyzed through the points of criticism of social capital by R.Solow. The paper suggests a refined definition of culture and cultural capital. Several ways of productive use of cultural capital are described. Among them: through reduction of uncertainty and transaction costs, through use of competitive advantages, based on culture and harmonization of formal and informal rules. The effect of cultural capital on bilateral trade through reduction in uncertainty and transaction costs is tested in the empirical part of the paper. A suggested approach to cultural capital, based on transaction costs theory can be useful for institutional design, and policy-advice, aiming at the increase in competitiveness of society and the efficiency of formal institutions.
Kolosova R.P., Medvedeva T.A.
Under the influence of globalization and computerization of the economy, organizations are changing their structures from hierarchies to networks, resulting in the development of horizontal enterprises that operate through internet technology with multiple distributed agents. This change is bringing about a new model of social and labor relations. The participants of social and labor relations put in conditions where they are forced to learn the principles of network organization and the opportunities to represent and defense of their interests in the new economy. Article is exploratory in nature, considering the direction of the influence networked economy on social and labor relations; identifies organizational foundations and principles of social and labor relations in networked economy; reviews the opportunities for development of the network of social and labor relations in Russia.
Suprun T.N., Kryukov M.M.
The paper oﬀ ers an overview of the 7th Tatiana’s Round Table held annually at the Faculty of Economics’ Centre of Language and Culture. Participants looked into the issues related to the optimum conditions for the research activity in academia in general and application of gaming methods in economic education in particular.
In January 2015, Moscow State University held its annual scientific conference “Lomonosov readings”. The conference was dedicated this year’s 260th anniversary of Moscow State Lomonosov University. As part of the Lomonosov readings at the Economics Faculty of Moscow State University hosted a scientific conference “Alternatives of economic policy in conditions of slowdown in economic growth: working-out and recommendations of economists at the MSU”. Discussions at the conference allowed us to formulate the key areas of economic policy aimed at increasing economic growth and overcoming the crisis in the economy.
Shvarts E.A., Knizhnikov A.Yu., Pakhalov A.M., Sheresheva M.Yu.
The paper analyses methodological features and results of the first Russian oil and gas companies environmental rating. This rating is relevant because Russian oil and gas industry plays a key role in the national economy and at the same time it is unfavorable and nontransparent from an environmental point of view. Our study aims to provide a comparative assessment of environmental responsibility of oil and gas companies operating in Russia. The study is based on a comprehensive analysis of qualitative and quantitative corporate indicators in three areas: environmental management, environmental impact and disclosure. Results of the rating indicate a high differentiation among Russian oil and gas companies in terms of environmental responsibility and transparency. Public listing of shares as well as linkages between shareholders and regional communities are among factors that have positive impact on the level of environmental responsibility of oil and gas companies.Key words: oil and gas industry, environmental responsibility, rating, environmental management, disclosure of information, non-ﬁ nancial reporting.
Bobyleva A.Z., Zhavoronkova E.N., Lvova O.A.
The article focuses on the key parameters of the modern tax system in the oil industry of Russia and foreign countries, the tax burden of the largest Russian and foreign oil companies and their investment and financial opportunities resulting from different tax regimes, as well as recent changes in the economic and geopolitical conditions. On the basis of the research, the conclusion about the feasibility of the strategic review of the tax regime in the Russian oil industry is made and the main directions of its improvement are suggested.
Kiryushin P.A., Strygina M.A., Kashirina E.S.
Promotion of “green” economy, that assumes increasing of the population welfare, social justice and improving of environmental quality, is one of the most important trends in the development of many countries including Russia. For our country building of “green” economy is also linked to the modernization and breaking with export-dependence on raw materials. Higher education institutions could contribute to the development of this process: traditionally both in the world and in Russia at universities environmental initiatives could be implemented and future environmental leaders could grow. To speed up the transition to of “green” economy we have proposed an approach “University as a model of “green” economy”. It is based on the possibility of developing, testing and further replication of “green” technologies at universities - in the areas of energy efficiency, waste management, eco-friendly transport, etc. We carried out the analysis of the pilot projects in the field of “green” economy - two cases of separate waste collection: in the Main building of Lomonosov Moscow State University (LMSU) and the LMSU branch in Sevastopol. We conclude that there is a significant potential of the implementation of “green” technologies for the development of “green” economy and for the development of universities themselves.
This article is investigating the initial public offerings (IPO) activity at world's largest stock exchanges in 2001-2012.The main goal of the article is to determine the main trends of the IPO pro cess at the world largest Stock Exchanges in 2001-2012. To achieve this goal the the author examines world and regional exchange centers of IPO-activity concentration and dentifies the factors determining the leading position of particular stock exchanges in various countries and regions in different periods of time. The autor coliects and analyses data from annual «IPO Watch Europe» reports provided by PwC Company in 2001-2012. The obtained time-series gives the opportunity to examine the variations of IPO-activity at different world Stock Exchanges along two dimensions: the overall volume and value of IPO deals at various Stock Exchanges. The analysis proves that the IPO-activity was mostly concentrated at Euro pean, US and the Greater China stock exchanges during the period under con sideration. The study reveals the shift of the world IPO-activity to Asian equity markets, with high IPO-activity indicators reported in emerging market economies. Brazilian, Saudi Arabian, Polish stock exchanges demonstrate the highest offerings indicators in this group. Thus, they are expected to become the new re gional centers of IPO-activity in future. In order to maintain or increase the current IPO-activity indicators ex-leaders had to resort to the consolidation of existing facilities throng M&A processes.
This article discusses organization of franchise systems, identifies the main stages of formation of franchise which are necessary for creation of quality franchise proposals and efficient development of the franchise network in the future. Also, the article analyses the activity and strategies of Russian franchisors on market. Special attention is paid to the promotion of a franchise as a key step in building a franchise network.