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Vol 13, No 5 (2023)

Articles

Mobilization economy: theoretical and practical aspect

Ermakov G.P., Ganieva Y.N., Petryakov S.N., Petryakov D.S.

Abstract

The article presents the results of a critical analysis of approaches to the definition of the mobilization economy. The research purpose was to clarify the definition of the mobilization economy. The authors' interpretation of the country's mobilization economy is given. It is defined as a category characterizing country's ability to produce the maximum amount of products, works and services in physical units in certain industries to counter existing or potential threats to the state itself by using all available resources concentrated in state institutions of power. The signs and components of such an economy, as well as the conditions of transition to it, are considered. The authors used a logical-cognitive approach based on logical and experimental analysis of the manufacturing sector indicators of the Russian economy in the pre-mobilization period. The article will be of interest to specialists and analysts in the field of economics, as well as to all those who are interested in its problems.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1253-1270
pages 1253-1270 views

Network industrial policy model: implementation mechanism

Afanasyev A.A.

Abstract

The author of the article offers a characteristic of the mechanism of a new emerging model of network industrial policy. Based on the methodology used in cybernetics, the general science of management, theoretical approaches to the representation of the control mechanism are considered. The article describes the mechanism of implementation of vertical and horizontal industrial policy models that have dominated the last decades. Based on environmental-type mechanisms of industrial ecosystems, a forecast for the formation of a network industrial policy model as a more progressive format for its implementation is given.The key role of digital technology and platform solutions is indicated. The importance of technological platform and the state information system as the basis for its formation is emphasized. The author's vision of development trends of tools of the studied model is given.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1271-1286
pages 1271-1286 views

Impact of foreign economic factors on food security of the Russian Federation

Bostandzhyan K.R.

Abstract

In this article, the author considers the impact of various global economic and demographic indicators, as well as foreign trade indicators of the Russian Federation on the country's food security for the period from 1994 to 2021. To assess the degree of influence of the indicators chosen by the author, factor analysis was applied. The IBM SPSS Statistics program was used. Using the principal component method, the author reduced the dimension of the analyzed data set, which enabled the author to group the indicators into enlarged groups of factors, as well as analyze the load factors of variables for each factor. The author determined which indicators have the greatest impact on the national food security.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1287-1300
pages 1287-1300 views

Modeling the diagnostic construct of the regional food security system

Kosymin A.D., Kuznetsova O.P., Kuznetsov V.V.

Abstract

The significant differentiation of the regions of the Russian Federation in terms of natural and climatic, socio-economic, demographic and other conditions, including the potential of food production, necessitates the consideration of food security at the regional level. The article presents a probabilistic construct for diagnostics of a dynamic food security system and its hypothetical definition in the Omsk region.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1301-1318
pages 1301-1318 views

Assessing the level of spatial polarization of Russian regions

Altunina V.V., Anuchina D.A.

Abstract

This article is devoted to the study of spatial polarization in Russia, in particular, the assessment of the level of spatial polarization of Russian regions for 2000-2020. The authors raise the question that in Russia, despite the general recognition of the problem of a high level of spatial polarization, the scientific community has not developed a unified methodology for assessing the level of spatial polarization.Based on various methods of assessing spatial polarization, the authors conduct their own assessment of the level of polarization of Russian regions and come to the conclusion that, despite a slight decrease in the level of spatial polarization over the past 20 years, there is no stable trend towards a decrease in interregional differentiation. The relative level of regions' polarization by GRP and GRP per capita and the scope of polarization according to these indicators were calculated. An assessment of the distribution of Russian regions by GRP and population for 2000-2020 was also made. The data for 1992 is also used for reference.In this study, the constituent entities of the Russian Federation are considered as regions.The article will be of interest to those who are engaged in research on the regional economy, as well as the spatial polarization of Russian regions.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1319-1340
pages 1319-1340 views

Agglomeration management model in the constituent entities of the Russian Federation

Konina O.V., Saveleva N.K., Sozinova A.A., Makarova T.V., Shpengler A.V., Barmina E.A.

Abstract

The relevance of the research topic is due to the importance of agglomerations in the economy of the Russian Federation. In the conditions of creation and development of urban agglomerations, there is a need for effective management of these complex territorial entities. For the agglomeration success, it is necessary to create an optimal management model that would take into account both the interests of municipalities and the population, as well as regional development priorities and allow for the clear implementation of all management decisions.The article analyzes the existing models of agglomeration management in the regions of the Russian Federation. The positive aspects of management models are evaluated. A model of agglomeration management that will take into account the interests of all parties as much as possible and follow democratic management principles is suggested.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1341-1352
pages 1341-1352 views

Development of inter–municipal cooperation as a priority for sustainable economic growth of territories

Gotsko T.V.

Abstract

One of the priorities for sustainable economic development in modern conditions is the expansion of inter-municipal cooperation, which is a more flexible mechanism for consolidating local budget funds compared to the common practice of consolidation of municipalities. Its main forms are as follows: associative, organizational and economic, contractual forms, agglomerations and centers of promising growth. Adequate financial mechanisms is an important factor in the development of inter-municipal cooperation.Its main instruments are not only own income, but also the possibility of differentiated standards, the provision of inter-municipal budget loans and horizontal subsidies. The focus on program-targeted and risk-oriented budgeting is the driver of the inter-municipal cooperation development. Due to the practical orientation of the recommendations, the article may be of interest not only for representatives of the scientific community, but also for municipal officials.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1353-1370
pages 1353-1370 views

The transport framework of the Russian Arctic zone

Mitryukova K.A.

Abstract

The article considers the formation of an integral transport system of the Russian Arctic zone. The relevance and significance of this study is determined by the strategic priority of the Russian policy in the Arctic in terms of the transport system development, which includes the Northern Sea Route and its communications. The research purpose was to determine the existing trends in the development of the transport infrastructure of the Russian Arctic zone. The main factors influencing the development of transport communications and the specifics of transport operation in harsh climatic conditions are considered. It is concluded that the transport infrastructure of the Russian Arctic zone is underdeveloped, as well as that the projects being implemented to develop transport communications are at different stages.The main problems of the implementation of these projects and their prospects are summarized. The creation of a unified transport system is possible with the implementation of major projects and the organization of year-round communication along the Northern Sea Route, as well as the development and reconstruction of transport infrastructure.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1371-1388
pages 1371-1388 views

Prospects for the development of single-industry towns in the Arctic zone on the example of aquaculture companies in the Republic of Karelia

Bekarev A.V., Tishkov S.V., Ivashko E.E.

Abstract

The article discusses the particularities of single-industry towns, their main problems and the practice of creating advanced development zones in the region. On the example of existing aquaculture companies, the prospects for the development of single-industry towns in the Arctic zone of the Republic of Karelia are determined. A brief description of the situation in the regional fishery complex is given. Examples of obtaining socio-economic and budgetary effects as a result of the economic activities of aquaculture companies in single-industry towns and monosettlements of the Arctic zone of the Republic of Karelia are presented. FUNDING.The research was carried out with the financial support of the Russian Academy of Sciences within the framework of the scientific project No. 21-18-00500 "Institutional engineering of single–industry towns of the Arctic zone: modernization and sustainable development".
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1389-1408
pages 1389-1408 views

Grant support of Khabarovsk civil society institutions

Khalikova S.S., Syupova M.S.

Abstract

Financial support is one of the main forms of support for civil society institutions. The analysis was carried out on the basis of data from the official websites of the foundations for the support of civil society institutions, statistical information, as well as the results of a sociological study on the development of civil society in the city of Khabarovsk. Presidential foundations are one of the main institutions for the development of civil society, providing financial resources in various areas of non-profit organizations. Federal support is of high importance for the regions of the country for which such support is in the nature of external social investments. The authors analyzed the participation of Khabarovsk organizations in competitions for grants. The grants are used to implement socially significant projects in the city. An analysis of the provision of financial support at the regional and city levels allowed to conclude that the annual increase in the allocated funds and the expansion of their use. Funds are allocated from the regional budget to the municipalities of the Khabarovsk Territory in order to support projects initiated by the municipalities of the region for the development of territorial public self-government. Funds are allocated to individuals and legal entities interested in the social development of the municipality. One of the tasks of public administration today is to increase the interest and attract a wider range of people to participate in competitions for grant funds to form and develop civil society.FUNDING.The study was carried out within the framework of a municipal grant implemented in accordance with the Resolution of the Khabarovsk City Administration of May 13, 2021 No. 1804 "On the provision of grant support on a competitive basis for programs and projects of socially oriented non-profit organizations"
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1409-1422
pages 1409-1422 views

Migration factor in territory development planning

Ganebnyh E.V., Mottaeva A.B.

Abstract

The spatial development strategy of the Russian Federation does not take into account the migration factor as one of the possible levers of influence on more effective development of territories. Migration is able to compensate for demographic losses and provide a human factor in the spatial development. The links between the factors contributing to or hindering migration aimed at the spatial development are determined. Barrier factors are identified; their correlations are analyzed. Through the fuzzification procedure, a fuzzy cognitive map of the interrelations of these factors is constructed. Only qualitative factors were taken into account in the map, reflecting the migrants' subjective assessment of their vision of the situation. The results can potentially be used in the development of mechanisms for influencing the necessary levers of migration resources in territory development planning.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1423-1434
pages 1423-1434 views

The impact of demographic changes on the development of small and medium-sized businesses in the region (on the example of the Tyumen region)

Leontyeva A.G., Ignatova I.V.

Abstract

The article examines the demographic situation in one of the regions of the Russian Federation. On the example of the Tyumen region, an analysis of its demographic changes in 2018-2021 was carried out. The influence of the Covid-19 pandemic was taken into account. Special mortality rates in the five-year age groups of the working-age population have been calculated. Structural changes in the sector of small and medium-sized companies are revealed. The corelation of indicators of natural and mechanical population movement with indicators characterizing the level of entrepreneurial activity in the region has been established. Regional trends of business activity was particularized. On the basis of a qualitative analysis of the gender and age composition, a portrait of an entrepreneur in the post-COVID period was pictured. Conclusions regarding the priority directions of socio-economic policy in the region were made. The article is a subject of interest to researchers and professionals in the field of regional social policy.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1435-1450
pages 1435-1450 views

Social contract as a support measure for small innovation-oriented entrepreneurship: analysis of nature and effectiveness

Zimovets A.V., Khanina A.V., Koshman V.V., Sorokina Y.V.

Abstract

The system of small business support in Russia has been undergoing significant changes in recent years. The pandemic and sanctions have had a significant impact on the development of small and medium-sized businesses. As a result, the government has paid special attention to this category of business. Today, the state is trying to actively support small businesses by providing benefits and subsidies. A social contract is one of such support measures. The authors analyzed the essence and specifics of the provision of this support measure.The results of this programme have been analysed through a questionnaire survey of entrepreneurs who have signed a social contract in Taganrog, Rostov region in 2021-2022. The authors also made suggestions for improving this support measure.The article will be of interest to researchers studying the specifics of supporting business and entrepreneurship, as well as future entrepreneurs who plan to conclude a social contract.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1451-1468
pages 1451-1468 views

Interdependence of life cycles of market relations subjects and product life cycle

Krasnikova A.S., Podolskiy A.G., Kuplinova T.A.

Abstract

The article presents the relationship between the life cycles of market relation subjects, namely the life cycle of a product, a company, an employee, a supplier and a consumer. The scientists' interest is concentrated on individual life cycles and aspects of their interaction, without considering a comprehensive assessment of all life cycles of market relation subjects. Thus, the authors' approach will allow comparing the life cycle models of a product, a company, an employee, a supplier and a consumer in order to identify areas for cost optimization. The implementation of integrated life cycle management within the value chain will help to reduce the costs associated with new life cycles of employees, suppliers and consumers, make proactive decisions to avoid transition to the stage of decline and more accurately predict costs by using models for estimating the life cycle costs. The considered approach will allow to achieve a synergetic effect in the management of the organization. This article is useful both for researchers in the field of economics and management and for practical application in industrial enterprises.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1469-1492
pages 1469-1492 views

Developing a methodology for economic analysis and performance auditing of green economy business projects

Makarov I.N., Samoylova T.D., Titova M.V., Drobot E.V.

Abstract

The article is devoted to the study of theoretical foundations for improving the methodology of economic analysis and audit of green economy business projects efficiency in the new reality. The authors propose a number of formulas to assess the effectiveness of green economy projects. The authors suggest the justification for adjusting the methodology of economic analysis for the possibility of its application in the conditions of a green economy.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1493-1502
pages 1493-1502 views

Optimizing a dynamic external environment for company production planning

Popova K.A., Kelchevskaya N.R., Slukina S.A.

Abstract

The rapid pace of changes in modern economic conditions is a serious problem for industrial companies on the way to effective economic activity and achieving a sustainable competitive advantage. Companies cannot control external factors, but their ability to be proactive, quickly and adequately respond to market requirements and trends through continuous improvement of internal business processes, including the planning process, plays a crucial role in achieving success and survival. The complexity, instability and uncertainty of the external environment places high demands on the analysis of current trends, their planning and forecasting. The complexity and uncertainty of the external environment also implies the presence of a large number and more advanced analytical tools for making effective management decisions.The authors of the article propose economic and mathematical tools for optimal planning of production activities in conditions of complexity, uncertainty and instability of the external environment in relation to coal industry companies. The proposed methodological approach to planning will make it possible to find the optimal solution from all possible alternatives that meets the efficiency criteria for both current market conditions and possible scenarios for the development of events in the short and long term, thereby reducing the impact of the external environment uncertainty.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1503-1520
pages 1503-1520 views

Creating regional business ecosystems based on digital customer profiles and omnichannel communications

Abramov V.I., Gordeev V.V., Stolyarov A.D.

Abstract

The possibility of creating regional ecosystems based on an integrated approach to combining digital profiles of companies' clients is being analyzed. The article is devoted to identifying the points of growth of companies' efficiency in the ecosystem and the role of the consolidating center in the creation of the ecosystem, including the participation of the regional government. The conceptual provisions of the theory of ecosystems, platform economics and marketing were used as the methodological basis. In methodological terms, the research is based on the generalization and analysis of theoretical material, the study of materials of previously performed sociological and marketing research on digital platforms and ecosystems, as well as on the systematization and grouping of the data obtained. To demonstrate the effectiveness of omnichannel communications and digital customer profiles, a comparative analysis of various technologies and proven methods of increasing efficiency and profitability using client-centric approaches is used. The features of using the ecosystem approach in the implementation of digital transformation of companies and the creation of a regional ecosystem are considered. It is proposed to create a business model using machine learning to differentiate customers. A method for creating omnichannel communications, digital profiles and forming clients' dynamic clusters is proposed. It is shown that the described mechanisms make it possible to increase sales and the level of customer loyalty to a particular company of the ecosystem, as well as to the products and services of the ecosystem as a whole.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1521-1540
pages 1521-1540 views

Basic principles of building high-tech company ecosystems

Danskaya A.V.

Abstract

New standards and forms of professional education of human resources are becoming the foundation of the modern ecosystem. Digital transformation expands the boundaries of labor resources through a simplified system of data collection and analysis, which makes it possible to form relevant requirements for the "employee of the future". The change in economic conditions leads to a change in the paradigm of the labor resources formation in the company from traditional to digital culture, based on a new mechanism for building staff ecosystems in high-tech companies. The article examines global trends affecting the system of personnel formation and functioning, the specifics of state policy regarding human resources, as well as the features of the development of new professional competencies of the future with an emphasis on the necessary transformation of education systems and its reorientation to the customization of training programs for the development of talents. The scientific and practical significance of this article is to substantiate the need to integrate digital technology into the structure of staff management in high-tech companies.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1541-1554
pages 1541-1554 views

Developing a system of motivation and incentives for the staff of an educational organisation focused on the concept of an entrepreneurial university

Berezin A.S., Minaeva O.A., Medveditskova A.S., Yurova O.V.

Abstract

Educational institutions are more conservative in comparison with business structures. Thus, it is necessary not only to preserve traditions, experience and scientific directions, but also to translate advanced knowledge in modern forms. Guaranteed salary does not motivate the academic staff for outstanding research, new knowledge and achievement of university strategic goals. Improving the efficiency of the university based on material and intangible forms of motivation is an important tool at present.The article analyzes the peculiarities of stimulating and motivating the academic staff at the university.The authors' vision of the "entrepreneurial university" is formulated; the factors influencing its creation are revealed. Particular attention is paid to the identification of a group of target indicators of the university´s activities that make it possible to effectively implement the concept of an entrepreneurial university, which can form the basis for determining the employees KPI, as well as the development of methodological recommendations for improving the system of motivation and incentive of academic staff at the entrepreneurial university (on the example of the Volgograd State Technical University).
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1555-1570
pages 1555-1570 views

Methodology of economic analysis and evaluation of the transport companies' effectiveness in a mobilized digital economy

Makarov I.N., Orlov S.L., Kolesnikov V.V., Samoylova T.D.

Abstract

The research is devoted to the development of methods of economic analysis and evaluation of the transport companies' efficiency. The traditional methodology of analysis and statistics was used as the research basis. But authors had taken into account the influence of newly formed factors of the institutional environment of the transport companies. The authors have identified additional elements recommended for inclusion in the traditional methods of economic analysis and evaluation of the transport companies' efficiency, reflecting the change in the institutional environment, mainly related to the processes of digitalization. The moments associated with changes in the working conditions of transport companies due to the transition of our economic system to a closed type due to the influence of foreign policy restrictions were also taken into account.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1571-1582
pages 1571-1582 views

Approaches to assessing the efficiency of energy sales companies

Tagirova A.M., Malkova T.B.

Abstract

The article discusses approaches to assessing the efficiency of energy sales companies, taking into account their main features in the electricity market. Based on a comparative analysis of the main characteristics, features and methodological approaches to the efficiency of energy supply companies, the following opinion was substantiated. Amidst uncertainty and risks associated with the energy crisis, the fundamental approach to evaluating efficiency is an integrated approach consisting in the analysis of key factors of the energy supply companies' efficiency. At the same time, special attention should be paid to industry factors that most determine both the opportunities for further development and the risks affecting the results of the business. The article will be of interest to those who professionally deal with energy supply companies and methods to improve their activities, federal and regional government bodies, researchers, academic staff and graduate students.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1583-1594
pages 1583-1594 views

Fast and ultra-fast fashion: a comparative analysis of Inditex (Zara) and ASOS business strategies

Kostin K.B., Gaptelganieva G.R., Gusakova M.V., Obvintseva V.V.

Abstract

The article examines the business strategies of ASOS and Inditex (Zara) companies. Benchmarking in the international segment of clothing and accessories retail was conducted. The main indicators that reflect brands' sustainability and flexibility in the international market are analyzed. The key aspects that provide companies with competitive advantages in the international business environment are identified. The main risks leading to the destabilization of their micro and macro environments are analyzed. Based on the results of the comprehensive analysis, recommendations to improve specific areas of brand development were formed.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1595-1616
pages 1595-1616 views

Competitiveness of commercial brands of sour cream in the Perm Krai market

Panyshev A.I.

Abstract

The article presents the results of ranking the competitiveness of sour cream brands in the Perm Krai market. The level of competitiveness was determined. Group of the following methods were sued: methods for calculating the ratio of quality and price of sour cream, the method of integrated assessment of the sour cream competitiveness based on the study of consumer demand, the economic method. The assessment of the levels of competitiveness of federal, interregional and regional brands represented on the regional market of the Kama region was obtained. The following points of view were taken into account: an expert point of view, the consumers' point of view, as well as objective data on the ranking of the competitiveness of sour cream brands in terms of their turnover. An expert point of view is an ideal picture of consumption, i.e. how market shares should be distributed based on the price and quality characteristics of sour cream. The consumers' point of view is a subjective assessment that is important when developing a competitive strategy within focus groups.As a result, the application of different methods objectively turned out quite heterogeneous results. The ranking of the studied brands of sour cream is obtained both simply by quality and its ratio to the selling price. An integrated cross-section of the competitiveness of these brands of sour cream according to consumers is obtained. At the same time, the analysis of the actual turnover showed that one of the outsider brands of the previous ranking is in fact one of the sales leaders. In conclusion, practical recommendations for optimizing the purchase of sour cream and recommended measures to improve the competitive strategy for the beneficiaries of the considered sour cream brands are formulated.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1617-1630
pages 1617-1630 views

The priorities of the budget policy of the Russian Federation in the field of federal budget expenditures for 2023-2025

Balynin I.V., Terekhova T.B.

Abstract

The article defines the priorities of the budget policy of the Russian Federation in the field of federal budget expenditures for 2023-2025. Based on the results of the study, conclusions about the need to modernize the budget policy using 10 key principles that make it possible to multifacetedly ensure the transition to a modern responsible budget policy were drawn. To monitor the quality of federal budget expenditure management, the authors propose special and general evaluation criteria that allow both promptly and following the results of the financial year to draw appropriate conclusions and ensure the modernization of budget policy, taking into account the identified problem areas. Particular attention should be paid to increasing the financial literacy of the population and the transparency of public finance management.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1631-1650
pages 1631-1650 views

Country's financial security amidst global economy digitalization

Sitnikova O.G.

Abstract

Currently, the economic systems of different countries are interpenetrating. This is significantly facilitated by the development of digital technology. The merger of digital technology and the financial sphere has given rise to such a phenomenon as fintech. The interaction of digital technology, banking services and modern payment systems has a significant impact on the security of economic entities, households and national financial security. The author proves that the change in the structure of the main threats to the financial security of the country due to the development of digital technology is significantly influenced by factors related to the transformation of the environment of national economic systems, primarily in terms of ensuring cybersecurity and the technological base of national payment systems amidst digitalization of the world economy.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1651-1662
pages 1651-1662 views

Financial inclusion: new challenges in today's environment

Golova E.E.

Abstract

The article presents the author's assessment of the development of financial inclusion in modern conditions in Russia. The legal regulation of inclusion in the financial sector is studied. The financial system difficulties are analyzed. The prevailing geopolitical conditions are taken into account. The development of the author's classification of barriers affecting financial inclusion in modern economic and political realities is presented. These barriers are caused by trends in the development of the financial sector amidst digitalization and sanctions pressure. The author formulated some recommendations to reduce the impact of barriers on the financial sector, taking into account the peculiarities of the Russian economy. This article may be of interest to regional authorities when developing targeted programs, as well as to employees of the banking sector, graduate students, students of economic specialties.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1663-1682
pages 1663-1682 views

Prospects for the development of the insurance market in Russia in a difficult geopolitical situation

Barannikov R.F.

Abstract

The article is devoted to identifying the main problems and threats faced by the insurance market in modern realities. The role of insurance as one of the factors of economic development is considered. In 2022, the main factor in the development of insurance is life insurance, but for other products there is a decrease in dynamics. The relevance of the topic is due to the fact that in modern realities the Russian economy has faced many problems and risks; the insurance sector has also suffered. The sanctions have left their mark on the development of the insurance industry. A detailed analysis of the problems is needed, since there is no structured information that would reflect all the main problems and risks, as well as views on the prospects for the development of the insurance market in Russia and some proposals to improve the industry.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1683-1692
pages 1683-1692 views

Pawnshop business: risks and mitigation

Ushanov A.E.

Abstract

The article discusses the trends in the development of pawnbroking in Russia, the risks of pawnshops in modern conditions, primarily credit risk. There is such a phenomenon in the practice of pawnshops as a shortage of the liquidation value of the mortgaged property to cover the loan debt. The reasons for this situation are analyzed. The volatility of global gold prices is the main reason. The case is made for reorienting pawnshops towards a business model of operating with access to the debt market. The advantages of the pawnshop current model are revealed. These model contributes to the successful implementation of long-term bond funding measures. The condition for the expediency of companies entering the debt market is formulated.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1693-1702
pages 1693-1702 views

Microfinance organizations: the current situation in the financial market

Bogdanova M.M., Kosyonkova P.A.

Abstract

The article presents an overview of the main characteristics of the microfinance organizations' activities.The authors compare the features of microfinance organizations with credit ones.The main trends in the activities of microfinance organizations are identified. Their position in the financial services market is analyzed. In the context of the current competitive situation, the problems of the microfinance organizations' credit policy are identified; and ways to solve them are outlined. Microfinance organizations are a significant competitor to credit institutions in the financial sector. Despite the fact that the list of activities available to microfinance organizations is small, they occupy a strong position in the market for providing loans and microloans to both individuals and legal entities. The restrictions imposed by regulatory legal acts allowed to raise the level of confidence in microfinance organizations from their potential customers. Among a wide list of microfinance organizations, one can choose the most suitable for each situation. However, it is necessary to check the information about this organization on the website of the Bank of Russia and carefully study the reviews and terms of the contract. Microfinance organizations can often be confused with credit marketplaces (loan selection services), which do not issue loans, but provide a paid selection service without a guarantee of obtaining a loan. The materials presented in the article may be of interest to a wide range of people conducting research on the financial services market.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1703-1716
pages 1703-1716 views

Optimization of the company's capital structure as one of the goals of investment projects

Pershin A.A.

Abstract

In uncertain economic conditions, companies must tackle the challenge of creating an efficient financial strategy. The imperfection of capital structure management methods that allow minimizing costs and maximizing the financial result of investments is one of the main problems. Such management is necessary for the successful implementation of investment projects, since the capital structure directly affects the efficiency of the investor company. The effectiveness of investment projects is influenced not only by the sources of financing, but also by their structure. Therefore, the assessment of the impact of the ratio of equity and debt financing has a significant impact on both the project and the activities of the investor company. This is crucial for evaluating the effectiveness of an investment project and making a decision on its implementation. The article reflects an assessment of the possible economic effect of the impact described above. An improved approach to the analysis of the impact of the financing structure of an investment project on the efficiency of an investor company is presented. The article will be of interest to researchers studying the specifics of financing mechanisms for investment projects, as well as businessmen seeking to optimize the financing structure in their companies.
Journal of Economics, Entrepreneurship and Law. 2023;13(5):1717-1728
pages 1717-1728 views

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