2782-6015 10 3 2017

RAR RUS 9-25 V-1094-2019 56968223000 0000-0002-0941-6358 Peter the Great St.Petersburg Polytechnic University Babkin Alexander babkin@spbstu.ru

Russia, 195251, St.Petersburg, Polytechnicheskaya, 29

P-9937-2015 57191192862 0000-0002-9441-7696 V.I. Vernadsky Crimean Federal University Burkaltseva Diana di_a@mail.ru

Vernadskogo Prospekt,4, Simferopol, Republic of Crimea, 295007

Kosten Dmitri dkosten@me.com Vorobev Yuriy vorobyov_120758@mail.ru Formation of digital economy in Russia: essence, features, technical normalization, development problems Recently, the notion of digital economy got introduced in economic theory and became part of daily socio-economic activities of many countries. The beginning of the 21st century got marked by the breakthrough advancements in information technology, revolution in the space of information, and acceleration of economic globalization processes.  Information acquired new characteristic of resource required for social and industrial activity. With the help of tools, the information is transformed into knowledge, and its value can be measured through productivity increase. More and more of socio-economic activities are transitioning into the internet.  One of the key factors of digital transformation is development of proper digital culture. The authors illustrate that during the period of socio-economic transformation, the state of institutional structure of economy marked with unique characteristics, and will require to form new concepts and approaches.  The concept, the essence and the features of the digital economy are described, the necessity of its technical normalization of socio-economic processes is justified.  Authors present three main official strategies for the development of the Russian economy for the period of 2017–2035.  The issues arising from implementation of «Digital Economy» road map, were considered, the mechanisms for managing construction and maintenance of the model were discussed. Presented conceptual model for building a rational economy, that takes into account the digitalization process. It is noted, that the society resides at an intellectual and technical level where it has required computing and engineering resources to feasibly perform technical modeling of itself. Incorrect or technically de-normalized perception of information on its its lowest meta level can lead to an incorrect physical self-expression of society, with potentially severe socio-economic consequences. Today, the task of technical modeling and technical normalization of socio-economic processes for individual organization and the economy as a whole are becoming the tasks of the leader and manager, and not the task of engineer. It was noted, that digital economy has a huge potential for facilitating economic development. The Internet accelerates the existing market places for goods services and labor, including services offered by public sector. Russia needs to take advantage of the historical moment of the socio-economic transformation of the world economy, and advance to a next socio-technological level, with the goal of securing competitive position in the world market. 10.18721/JE.10301 621:319.34 post-industrial economy services; information technologies telecommunication technologies digital economy digitalization rational economy technical normalization https://economy.spbstu.ru/article/2017.65.1/ 01_babkin_burkaltseva_kosten_vorobev.pdf

RAR RUS 26-37 Korneychuk Boris bkorn59@mail.ru Cyclic dinamics and bifurcations on reflexive markets In the midst of crisis and growing uncertainty of economic development, it's becoming ever more important to investigate economic cycles and bifurcation states where small regulatory changes can give the dynamic process completely different properties. The research methodology is based upon three principles that enabled the author to develop a new cyclical behavior model and examine the cyclicity factors other than those in the Goodwin cycle model. The inductive approach relies on the universal pattern of the relationship between economic variables and rules out incorporating additional theoretical assumptions. As opposed to the deductive approach, empirical assessment of indicators is determined before the analysis of the model and has a decisive impact on the nature of the conclusions. The principle of reflexivity means that the subjects of a particular market are at the same time objects affected by another one. This principle is implemented in the assumption that demand and supply functions in every market depend both on the price and the change of all prices. The principle of linearity establishes a linear relationship between endogenous variables and their derivatives and allows to examine cyclic processes and bifurcation states by way of a relatively simple system of first-order linear differential equations which includes the conditions of the Keynesian equilibrium and the labor market equilibrium. The paper develops the theoretical and instrumental framework for a reflexive model of economic dynamics, provides analysis thereof for the case of two and three related markets, determines the cyclicity conditions and the characteristics of bifurcation states, and examines the nature of the dynamics of macroeconomic variables. A number of conclusions stem from the study. Firstly, the model has shown its efficiency in analyzing cycles in reflexive markets, with the simplifying assumption that the functions are linear not becoming an obstacle to describing and exploring various types of dynamics and bifurcation states. Secondly, exogenous parameters of the model can be identified empirically prior to its analysis, which allows to address the distinctive features of dynamic processes with an eye on the institutional character of economic systems. Due to the linear nature of the model, it is possible to make calculations using regression analysis methods based on publicly available monitoring data, which increases the practical relevance of the model. Thirdly, the model allows for generalization for an arbitrary number of reflexive markets, an important line of future research being the study of a four-dimensional model with a foreign-exchange market as well as a global model of the world economy with a reflexive relationship between all markets. 10.18721/JE.10302 330.33.01 cyclic dynamics Goodwin model Keynesian equilibrium model reflexivity theory market labor bifurcation https://economy.spbstu.ru/article/2017.65.2/ 02_korneychuk.pdf

RAR RUS 38-46 Istomin Mikhail istominm@list.ru Analysis of the institutional interaction between the research and development sector of economics and the business community A theoretical situation, where the developer creates a new technology for the purpose of commercialization and the entrepreneur sees the increase of business competitiveness as the main task, has been modeled for the analysis of innovative processes. It was revealed that the measures of state support of innovative activity are aimed at stimulating the implementation of a joint strategy of the entrepreneur and developer. However, the proposed behavioral models are neither a standard nor a rule for the scientific and business communities. An analysis of the interaction between the developer and the entrepreneur was carried out using the concept of agreements developed by Boltanski and Theveno. Obviously, the market agreement plays a dominant role for the entrepreneur, and a creative one for the developer. Certainty is present in the interaction only provided that both the entrepreneur and the developer are within the framework of the same agreement. In our case, complete mutual understanding arises if the developer’s scientific and technical problem and the entrepreneur’s organizational and production problem are approached as a whole. At the same time, the entrepreneur either must be a leader in the industry or strive to be one, constantly improving the business processes. The maximum probability of making a deal arises in the case the developer has preliminarily studied the production task solving which implies improving the functioning of the system. At the same time, the number of intermediaries and stakeholders should be kept to a minimum. To increase the effectiveness of innovative processes, it is advisable to develop an appropriate organizational and innovative mechanism that allows to optimize and distribute the administrative and market management of processes and participants in innovative activity. This mechanism should be based on the following principles: institutionalization of the task-setting process for developers; distribution of administrative and market approaches to tasks, resources and executors of innovative processes in the region; systematic work to prioritize high-tech markets, industries and companies that affect the development of the region; impact on the factors of interaction between the business community and the research sector of the economy: economic benefits, risk level and transaction costs. 10.18721/JE.10303 334.021.1 innovation processes institutional economy business community research sector of economy https://economy.spbstu.ru/article/2017.65.3/ 03_istomin_zlobina.pdf

RAR RUS 47-56 Valentik Olga valentik-o@ya.ru Strategic planning as the basis for a new type of municipal reform in Russia The article considers the range of institutional problems of transition to the system of strategic planning, associated with the formation of the organizational-legal and economic preconditions for the inclusion of municipal government into this system of management. The author concludes that a long period in the development of Russian local self-government has actually been devoted to eliminating the shortcomings initially contained in the original version of the municipal reform in Russian Federation, established by the Federal Law no. 131 in 2003. These shortcomings have not only minimized the positive socio-economic effect of the reform and have led to the loss of citizens’ confidence in local governments, but have now become a significant obstacle to the inclusion of municipal government into the single vertical chain of strategic planning. Apparently, it was the due to the awareness of these difficulties that the participation of the municipal-level management in the above-mentioned vertical of strategic planning was described in  Federal Law no. 172 of 2014 in a very vague, optional form. Such a situation with the legal regulation of municipal strategies is unacceptable for fully incorporating strategic planning, including managing the spatial aspects of Russian economic development. However, the article has established that a simple projection of the obligation to form strategic plans for all levels of the local government system will not yield any positive result. It is necessary to significantly strengthen the economic foundations of Russian local self-government and, above all, its fiscal base. 10.18721/JE.10304 338.262 strategic planning local government municipal reform local finances https://economy.spbstu.ru/article/2017.65.4/ 04_valentik.pdf

RAR RUS 57-64 Dudnick Aleksei dudnik.83@mail.ru Development of a system for monitoring the regional AIC production New state regulation instruments boosting the competitiveness of domestic production are needed to accelerate the import-substituting development of the real sector of Russia’s economy. This is also true for such an important part of the national economy as the agro-industrial complex (AIC). One of the new and potentially efficient state instruments for regulating the competitiveness of the AIC are the food aid programs for the low-income part of the population, widely used by advanced economies for their citizens. A potent monitoring system providing the regulator with relevant data is crucial for effective use of food aid programs as an instrument of regulating the competitiveness of the national AIC. A basic system of factors and indicators determining the need of the national agro-industrial complex in socially oriented measures for regulating the competitiveness meets the following requirements: the set of indicators should be justified by being sufficiently detailed; all computations should be simple enough and the data needed should be accessible; input and processing lags should be minimal; indicators should be anticipative with respect to the changes in the agro-industrial complex and the agri-food market parameters they describe. Four information blocks can be identified within the structure of the indicator array being monitored. They describe the internal environment of the agro-industrial complex, as well as its external environment that characterizes the foreign economic relations and the global market competitiveness and, finally, the micro-external environment. A particularly important component of the data, in view of the specific effects of food aid programs (a pronounced social effect) is the information characterizing the final demand for agri-food products by the population and the affordability of food products for the low-income segments of the population. The official data published by the Federal service of state statistics of the Russian Federation and by similar services abroad are offered as an information basis for monitoring the indicators. 10.18721/JE.10305 338.43(339.13.025.4+339.5.012.435) food aid governmental regulation of AIC agrifood market monitoring external environment internal environment informational base https://economy.spbstu.ru/article/2017.65.5/ 05_dudnik.pdf

RAR RUS 65-75 Pinkovetskaia Iuliia judy54@yandex.ru Structural aspects of development small and medium entrepreneurship in Russia The importance of the study is due to the implementation of the federal strategy of development of small and medium-sized enterprises for the period up to 2030. The aim of the study was to determine the patterns typical for the prevailing volume of production of subjects of small and medium-sized entrepreneurship in Russia and identify its sector and size structure. Objectives of the study: evaluation of the contribution of small and medium-sized enterprises in the total production volume of all enterprises in Russia by types of economic activity, analysis of the present size and industry structure of earnings in the business sector, as well as changes in that structure over five years, the definition of specific indicators of revenues per one enterprise (one businessman) and one employed worker. The research methodology is based on examining  the totality of subjects of small and medium-sized entrepreneurship belonging to legal entities and individual entrepreneurs based on three size categories, six major types of economic activity that is generated on a sectoral basis. The study has established the possibility of a substantial increase in production volumes in the enterprise sector of the national economy. The practical importance of the study’s results is that entrepreneurs (especially beginners) can use them directly for determining anticipated revenue. In addition, the results can be used by the departments of regional and municipal authorities engaged in the formation of projects and programmes of entrepreneurship development. The values of specific revenues may be of interest when monitoring the activities of the entrepreneurial sector. 10.18721/JE.10306 332.05 medium-sized enterprises small enterprises microenterprises individual entrepreneurs revenue types of economic activity https://economy.spbstu.ru/article/2017.65.6/ 06_pinkovetskaya.pdf

RAR RUS 76-88 Gibadullin Artur 11117899@mail.ru Pulyaeva Valentina vnpulyaeva@fa.ru Evaluation of sustainable development in the social sphere of electric power engineering in Russia The modern electric power industry dates back to the 1970s, when all electric power enterprises belonged to the state, and the development of branches of the national economy was of a directive nature. After the collapse of the Soviet Union, the power industry was transferred to the government corporation RAO UES of Russia, which ceased to exist on July 1, 2008 in accordance with the logic of the reform. To date, private companies have emerged in the industry, which began to build their strategy and corporate governance differently.  The article is dedicated to the issues of sustainable development of the electric power industry of the Russian Federation; special attention is paid to the social sphere of activity of the electric power industry organizations. The work analyzed the dynamics of changes in the total number of employees, of employees hired and departed, of jobs created and terminated, the average monthly nominal wage in the industry, as well as the number of employees employed in harmful labor conditions. Further, based on the data of energy companies that were transferred to private management after the reform of the electric power industry in 2008, an analysis of sustainable development in the social sphere of the country's five largest electric power companies was carried out according to the indicator system developed by the authors. The work also presents a set of indicators reflecting the level of social development of an organization in accordance with its directions, which can be used in the system of social controlling.  At the end of the article, an attempt was made to create a system of indicators of social sustainability assessment based on a group of factors reflecting employee satisfaction and social security. 10.18721/JE.10307 338.45.01 sustainable development social sphere electric power industry indicators quality of life https://economy.spbstu.ru/article/2017.65.7/ 07_gibadullin_pulyaeva.pdf

RAR RUS 89-100 Bogatyreva Svetlana s_b63@mail.ru Titov Aleksandr alejanro@yandex.ru Kupriianova Mariia xxxmaryellexxx@mail.ru Empirical analysis of foreign investment in the retail trade sector of the Russian Federation The article justifies that the trade sector is one of the most attractive for foreign investment due to the high speed of capital turnover. Particular attention is paid to the aspects of foreign capital participation in the retail sector of the Russian economy in terms of the investors’ country (or geographical region) of origin. The strategy of expansion of foreign retailers to the Russian market is explored: the conclusion is made about the preferred application of the organic growth strategy in comparison with the strategy of mergers and acquisitions. The problems of participation of foreign retail chains under the conditions of increasing competition are analyzed. Specific aspects of Russian investment in the retail sector of the Russian economy are identified through the application of the offshore business mechanism. There is a conflict in the interpretation of the concept of «Russian retail chains» (with respect to individual federal-level food networks) arising from extensive network application of the offshorization mechanism of business, which, in the context of a change in the property belonging to the business, indicates a virtual change in the status of the companies' capital from Russian to foreign. Using the example of food retail chains, it is shown that competition in the Russian retail market has reached the level of European countries. Conclusions and forecasts are made regarding the prospects for investors' expansion in the retail sector of the Russian Federation. Based on the study of world experience, an opinion is expressed about the possible negative impact of retailers' activities on other participants in the infrastructure of the state's food complex. The practical significance of the work is to apply the findings of the study for making promising managerial decisions by both foreign retailers and executive and legislative authorities at the federal and regional levels. 10.18721/JE.10308 339.727.22:339.37(470+571) foreign direct investment (FDI) foreign capital retailers retailing offshore retail strategies https://economy.spbstu.ru/article/2017.65.8/ 08_bogatyreva_titov_kupriyanova.pdf

RAR RUS 101-111 Chistyakova Olga The principles of forming the national and regional innovation systems in Russia The approaches to forming the national and regional innovation systems in Russia and other countries are analyzed. The necessity of applying the knowledge approach to the formation of innovative systems is justified. The factors that contribute to the successful development of the national innovation system are revealed: long-term innovative policy of the state; strengthening the cooperation between the private, educational and research sectors; targeted support of important directions for innovative and technological development; development of the innovative infrastructure to support innovative enterprises; improving the legislation in the field of intellectual property; accelerating the commercialization of innovation, providing tax incentives, cheap loans. The principles for the development of the national innovation system in Russia are proposed, including the decentralization of state support and the formation of a network of development institutions; using the mechanism of public-private partnership; building trust in new institutions through the personal reputation of managers; performing the support functions through business intermediaries; providing services instead of money. Instruments of coordination between the units of the national innovation system are designed. The mechanism of technological platforms for coordination between the units of the national innovation system is suggested. The necessity of coordination of federal and regional innovation policies is proved. The principles of forming regional innovation systems are proposed, including the development of innovative strategies and regional programs with the involvement of relevant scientific and educational organizations, companies, development institutions; formation and development of innovation infrastructure facilities; the introduction of public procurement to stimulate the production of innovative products; the development of innovative technologies and innovative management education programs. The necessity of forming regional innovation clusters is justified. Principles of forming the innovation system in resource-oriented regions are offered. A combined approach to the innovative development of the resource-oriented regions is designed. The institutions of the innovative infrastructure for resource-oriented regions are proposed. 10.18721/JE.10309 338.24 Innovation national innovation system regional innovation systems resource region innovation infrastructure innovation clusters https://economy.spbstu.ru/article/2017.65.9/ 09_chistyakova.pdf

RAR RUS 112-123 Yashin Sergey jashin@52.ru Korobova Yulia julia2511@bk.ru Assessment of the degree of sustainability of innovative development of industrial enterprises in the region on the example of the Nizhny Novgorod region Strict sanctions on the part of a number of Western countries, increased tension in the international situation and the obvious need for an innovative type of economy in our country make the problem of assessing the degree of sustainability of innovative development of industrial enterprises of the subjects of the Russian Federation especially urgent. In this article, as a way of solving the indicated problem, we propose a methodology we have developed for calculating the index of sustainability of innovative development. The purpose of the study is to assess the degree of sustainability of innovative development of industrial enterprises using the example of the Nizhny Novgorod region. The study is based on methods of statistical analysis, as well as methodological principles of the system approach, which assumes a holistic view of the problem under study. In the course of the research, the analysis of the existing approaches to the assessment of the sustainability of innovative development of industrial enterprises in the region was conducted, as a result of which the required aspects were identified, taking into account the  methodology we have developed for calculating an integrated system-built innovation index of industrial enterprises in the region, including an assessment of the investment attractiveness of the regional industrial sector, evaluation of the innovative-oriented financial component, the innovative results and the innovative activity of industrial enterprises. The developed technique was tested and verified on the example of the Nizhniy Novgorod area. Conclusions are drawn on the need to raise the level of innovative development of the industry at the level of the constituent entities of the Russian Federation, and a list of measures aimed at increasing the effectiveness of innovative activities of industrial enterprises in the Nizhny Novgorod region is formulated. Practical application of the developed methodology will allow to identify the "problem areas" that impede the transition of our country's regional economy to a new innovative model of development based on the generation and dissemination of knowledge. 10.18721/JE.10310 338.2 region innovative development index of innovative development sustainability of innovative development Nizhny Novgorod region https://economy.spbstu.ru/article/2017.65.10/ 10_yashin_korobova.pdf

RAR RUS 124-132 Shilin Pavel Shilin_ps@power-m.ru Patent research as a basis for strategic decision making in innovative activity The problem of the application of intellectual property benchmarking in innovative activity of any company was considered in the article. Maintaining a company’s competitiveness in the market requires building an effective strategic system for managing the innovative process. That allows developing and marketing the production that meets the customer’s needs, providing the required technical and economic parameters of the equipment and leading the competition. Studying the level of technology and the best world practices is an important stage of the innovative process. Patent research is an instrument for obtaining strategic information about the competitors’ achievements and market trends. Deep search and comprehensive analysis of patents allow determining the trends in the product and technology development, consumer demands as well as technical and economic characteristics of competitors’ products. Additionally, patent research allows to determine the competitors’ R&D topics and strategic technological areas, to draw conclusions about the perspectives of the developments. Legality, low price and availability of such type of information are what makes patent information a unique and underappreciated tool in the innovative process. The authors establish the required terms and define in details the goal, the objectives, the participants of patent research; show the governing regulations, present the well-known methodological approaches. Some graphical methods for analyzing the trends in the development of a technological object were examined separately, with recommendations given on the choice of parameters for searching and processing the obtained data sets. 10.18721/JE.10311 338.1 patent research innovations strategy benchmarking marketing https://economy.spbstu.ru/article/2017.65.11/ 11_shilin.pdf

RAR RUS 133-139 7005476276 0000-0002-8228-3109 Peter the Great St.Petersburg Polytechnic University Glukhov Vladimir vicerector.me@spbstu.ru

195251, St.Petersburg, Polytechnicheskaya, 29

Pasholikov Maksim pasholikov@gmail.com Optimization of partner networks of enterprises in developing new production The release of a large machine or a vehicle necessitates a system of interacting enterprises. One enterprise cannot solve a problem of releasing the entire set of components and providing assembly of the final product. In projects of import substitution it is necessary not just to repeat a product, it is required to release the modernized product with the best efficiency of use and smaller cost of production. The distribution of all works between collaborators allows to reduce the time for design, for preparing the production and releasing the product. The release of the final product is the responsibility of the medium-sized or large enterprise, but the collaborators are small enterprises. A separate detail, knot, or block is processed more quickly by a small enterprise. The small industrial enterprise is distinguished by higher individual aiming at efficiency of result, higher specialization, higher individual professionalism, a smaller share of overhead costs, high flexibility. All this in total allows to assume a lower prime cost in small series of production, shorter time for developing new production, optimization of a product in import substitution. This will be fully achieved when the corresponding environment of interaction is created, with the correct decomposition of the general process of production, the best selection of subjects participating in the process. The article considers the problems of the preparatory period: choosing the main performer, designing a product, performing the disaggregation of the product, determining the manufacturers of separate blocks and details, organizing the interaction of collaborators, and also the organizational and economic tasks, such as choosing a form of interaction of collaborators, estimating the contribution of each of the participants, constructing the scheme of motivation of participants, providing the minimization of time of preparation of production, organizing the release of products. 10.18721/JE.10312 334.76 multi-scale enterprises import substitution integration capacity partner network of enterprises https://economy.spbstu.ru/article/2017.65.12/ 12_glukhov_pasholikov.pdf

RAR RUS 140-157 Veretyokhin Andrei v_a_v_crimea@mail.ru Yachmenova Valentina v_lev@kafmen.ru Evaluation of ecological and economic safety of an industrial enterprise using fuzzy logic tools The main difficulties in determining the level of security of organizations are in selecting the preferred methodologies, adapting them to the tasks to be solved, developing optimal algorithms, selecting the factor database. The article reviews the approaches to assessing environmental and economic safety. The Crimean industrial enterprises are used as an example. The authors consider the main indicators and trends of Crimean engineering enterprises based on the regional and industrial statistical economic data. The study has demonstrated a significant mutual influence of the company and the external environment. In modern times, large enterprises function in specific urban ecosystems. This situation enhances the negative transformations. The risk of an emergency greatly increases the uncertainty of the environment. In the conditions of permanently variable parameters that are difficult to concretize, the most adequate results for analyzing environmental and economic safety are provided by methods of expert evaluation, fuzzy logic and their combination. This study used the method of fuzzy multiple modeling with a fixed set of determining factors. We created a balanced scorecard of the enterprise’s environmental and economic safety. We presented a four-level data hierarchy for generating a correct system of production rules. The developed model allows the flexible change of the input data. Based on computing the values of integrated indicators, we give the recommendations to improve the level of environmental and economic security of actual enterprises. The constructed model is highly versatile and can be adapted to the needs of a particular enterprise taking into account the specifics of a sectoral or territorial cluster if necessary. 10.18721/JE.10313 338:502.131 industrial enterprise assessment of environmental and economic safety fuzzy logic methods critical factors parameters and scorecards https://economy.spbstu.ru/article/2017.65.13/ 13_veretyekhin_yachmeneva.pdf

RAR RUS 158-170 Vinogradova Ekaterina katerina@usue.ru Galimova Anna anna.baibuz8@gmail.com Andreeva Svetlana svetlana@usue.ru Features of managing the production costs of hi tech production Nowadays hi-tech production is one of the priority directions in the Russian Federation. Its further use is focused on increasing the efficiency of the enterprises of various branches, ensuring the economic security of the state. Development of hi-tech production becomes a difficult process demanding the detailed accounting of used resources and quality planning in connection with attraction of considerable volumes of financial resources of the state budget.  The economic systems occupied with manufacturing hi-tech production have distinctive features of management accounting in connection with unique formation of expenses and estimations of cost of hi-tech production. The relevance of the subject is caused by an insufficient readiness of management accounting in creating perspective samples of hi-tech production of new generation, modernization of the existing samples and extension of their warranty periods of operation.  The article studies the interdependence of cost and temporary indexes in manufacturing hi-tech production. Cost indexes characterize planned or actual costs of financial resources on the realization of the life cycle of a prototype and its components. Moreover, control of the temporary indicators characterizing the planned or actual life cycle duration of a sample and its components is applied to distribution of financial resources by years or quarters of the planning period. The feasibility of planned documents and the efficiency of using the funds allocated for this purpose is significantly affected by the efficiency of the tools used for accounting and forming plans for creating hi-tech products, the quality of the methodological support used to determine the cost and time indicators. The study has analyzed the interaction of cost of hi-tech production with the duration of its development and output. As a result, the methodology can be used for management accounting to optimize the expenses in the course of forming planned documents. In this process, various measures differing in the nomenclature of the created samples, terms of development and volumes of purchases are considered. 10.18721/JE.10314 658.5 hi-tech production management accounting research and advanced development production estimation of cost optimization of expenses https://economy.spbstu.ru/article/2017.65.14/ 14_vinogradova_galimova_andreeva.pdf

RAR RUS 171-182 Smirnov Artem smirnov.artem.a@yandex.ru Kremlyova Nataliia kremleva-n@yandex.ru Organizational and economic aspects of lean production at the engineering enterprise The relevance of the research subject is justified by the fact that the managerial decisions of the engineering enterprise managers have an effect on the flow of creating value for the consumer, the results of which are reflected in the parameters of the operational cycle of the manufacturing-technological system. The organization of sheet metal cutting at engineering enterprises includes many processes associated with lean production, which is aimed at eliminating the losses in the value creation flows. Therefore, the purpose of the study is to develop theoretical provisions and practical recommendations for the organization of sheet metal rational cutting, taking into account business material resources, at an engineering enterprise with a single or small-scale production type, which optimizes the structure of technological costs for production by increasing the sheet metal utilization rate.  Based on the analysis of sheet metal cutting, analysis of technological features of sheet metal cutting methods at a small engineering enterprise, a diagram of cutting process has been developed and technological aspects affecting the design of sheet metal cutting charts have been systematized.  The authors proposed to consider the cutting sheet metal process as a multilevel cutting system. This approach will allow to organize complex designing of cutting charts and to carry out an assessment of the changes in the market value of sheet metal material resources after cutting. In order to make a reasonable operational decision by the enterprise’s managers on determining sheet metal material resource to a group of business or non-business resources, the logical principles of the algorithm for evaluating and identifying have been developed. This will increase the competitive advantages of products by reducing losses in the organization of cutting sheet metal: the cost of storing and transporting non-business material resources, unit costs for sheet metal.  In further research it is necessary to develop a methodology and an algorithm for evaluating and identifying the sheet metal material resources obtained after cutting, the methodology evaluating the market value of nth level material resource, recommendations for organizing management accounting and storing business material resources. 10.18721/JE.10315 658.5 lean production conversion manufacturing-technological system sheet metal cutting multilevel cutting n-th level material resource business material resource utilization rate of sheet metal material costs https://economy.spbstu.ru/article/2017.65.15/ 15_smirnov_kremlyeva.pdf

RAR RUS 183-196 Mokrova Kseniia ju4ok-ksiusha@mail.ru Kolibaba Vladimir The SWOT-analyzing as a key stage in process of economic risks management at power supply network companies Reliability of energy supplies is one of the most important parts of life sustenance and effective manufacturing sector functioning in the context of modern society. Maintaining a high level or reliability is a guarantee of stable functioning of every part of the energy system but it is impossible for the power company to completely protect itself from a power failure. Therefore, the task of risk management and economic risks management in particular is becoming important. There are some steps from the process of risk-management and its characteristics in this article. SWOT-analysis is a simple, accessible, but, at the same time, effective tool for factor analysis and management decision-making in the absence of a full-scale centralized system of risk management in Russian energy companies. The article highlights the strengths and weaknesses of the Russian power supply network companies in their internal environment, identifies the opportunities and threats that the external environment carries. We have carried out SWOT-analysis of economic risks of power supply interruption with their rating assessment, ranking the strength of the influence of each factor and their pair interaction. Based on the results of their numerical assessment, a matrix of strategic decisions for power supply network companies was formed, and recommendations for risk management actions were proposed. Particular attention is paid to the recommendations by which the power supply network companies can reduce or prevent the occurrence of risks associated with the emergence of threats in the external environment, taking into account the weaknesses of their activities. The importance of various types of insurance of risks for electric grid enterprises was noted in connection with the high probability of damage to various sections of the power grid. 10.18721/JE.10316 658.5.012.7 power supply reliability economic risks risk-management SWOT-analysis ranking score risk insurance https://economy.spbstu.ru/article/2017.65.16/ 16_mokrova_kolibaba.pdf

RAR RUS 197-208 Galevsky Sergeii nirs@spmi.ru Subject-oriented approach to estimating the cost of equity Currently the cost of equity is an important parameter for decision-making on investing in real or financial assets. It should indicate the suitable return for the investor taking into account the investing risks, though the most wide-spread models (CAPM, for example) estimate the cost of equity excluding the specifics of the investment subject, i.e., excluding the investor’s opinion and risk perception. At the same time, studies indicate that the methods for estimating the cost of equity precisely on the basis of the investor’s expectations are in demand almost everywhere (especially in Germany, France and other countries of continental Europe). Therefore, the study suggests a subject-oriented approach to cost of equity estimation. Based on the hypothesis about the similar nature of the perception of risk and perception of physical parameters (light, sound, etc.) a subject measure, taking into account the specifics of the investor’s risk perception and awareness is suggested. The subject measure depends on the expected investing losses and as a result is a “depreciation” of investments compared with the risk-free equivalent. There is correlation between the subject risk measure and the return on equity, satisfactory for investor in view of the investor’s individual risk appetite and awareness about the investing object. Besides, the model suggested methods for external parameters estimation. In total, the study results allow to realize a flexible approach to the required return estimation and to make a decision about investing for each investor personally. 10.18721/JE.10317 336.64 subject-oriented approach required return discount rate cost of equity https://economy.spbstu.ru/article/2017.65.17/ 17_galevskiy.pdf

RAR RUS 209-218 Zefirov Vladimir v.zefirov@mail.ru Petrova Nanalia natptr@rambler.ru Forecasting of the rouble exchange rate as a function of the oil prices, using regression analysis During the last two centuries oil has been the most important strategic product and a widely used energy source all over the world as well as in Russia. Nowadays there are numerous theories, opinions, studies on how the rouble exchange rate changes if oil prices decrease or increase. The problem is that with all this variety of facts and opinions it is still hard to give an unambiguous answer to the stated question. Moreover, due to the significant changes on the oil market over the last couple of years, this issue is getting more interesting and now it embraces many current problems.  To answer the question stated above, we decided to analyze the dynamic changes in oil prices and rouble exchange rates and derive a function describing this correlation using regression analysis.  Based on the statistical data for the previous years, the linear function describing the correlation between the rouble exchange rate and oil prices was derived, and the correlation and determination coefficients were calculated. Moreover, based on that function, we conducted a short-term rouble exchange rate forecast, for which we used the oil prices forecast by the Ministry of Economic Development. The results are compatible with the real-life data as well as with the forecasts conducted by well-established research agencies and provide the possibility of further research. 10.18721/JE.10318 338 rouble exchange rate oil price forecast regression analysis correlation determination trend https://economy.spbstu.ru/article/2017.65.18/ 18_zefirov_petrova.pdf

RAR RUS 219-227 Demidenko Daniel demidenko11@rambler.ru Dubolazova Yulia Methods of financing the innovative development of industrial production General, it is known from economic literature that the strategy of sustainable development of industrial enterprises is based on the activation of the processes of modernization and innovative development of enterprises and the interrelated management of this process. It should be noted that the different economic nature of modernization processes and innovative development of industrial enterprises makes it necessary to separately consider conceptual approaches and methodological substantiation for financing and implementing these directions. Methods of financing the modernization of industrial production are largely traditional and are known in principle from the provisions of economic science, but the conceptual approaches to financing precisely the innovative development of industrial enterprises, and in particular the methodological support of this process, adequate to modern production and market conditions, need special attention and research. In the article, the authors consider the specifics of financing the activities of enterprises, producers of innovative products from the state, as well as from the banking sector. For example, the parameters of economic equilibrium are considered taking into account the institutional factors for enterprises, producers of innovative products. In addition, the authors reasoned that the factor of the state forming funds for supporting innovative producers "shifts" the economic equilibrium in the market and can reduce the economic efficiency of public spending. Also, the authors substantiate the obvious need for institutional changes in the innovation sphere aimed at forming a flexible system of links between the banking sector and industrial entrepreneurship structures producing innovative products that maintain stability by maintaining the necessary correspondence between the necessary and available credit and investment resources 10.18721/JE.10319 338.121 sustainable development of industrial enterprises innovative product economic equilibrium financing features https://economy.spbstu.ru/article/2017.65.19/ 19_demidenko_dubolazova.pdf

RAR RUS 228-237 Pupentsova Svetlana pupentsova@spbgpu-dreem.ru Kamalova Mariia kamalova.maria@yandex.ru Dyachkov Maksim maksimdyachkov@gmail.com Development of a methodology of the capitalization rate in real estate appraisal An accurate and justified valuation of assets plays an important role for successful investments in the real estate market. A significant influence on the final result of the market cost is provided by the capitalization rate which is used in the direct capitalization method and to determine the cost of reversion in the method of discounting cash flows. The article considers the hypothesis about the possibility of predicting the capitalization rate, which is important for reducing the uncertainty in making managerial decisions. The authors developed a model that allows to effectively predict the capitalization rate. We have verified the obtained model using the objects of office real estate of St. Petersburg using simulation modeling (the Monte Carlo method). Moreover, we compared the market capitalization rate of St. Petersburg and other major cities of the world. Next, we analyzed the influence of the chosen model technique for calculating the capitalization rate on the final result of the valuation with a review of the main advantages and disadvantages of such model techniques. In order to determine the validity of using model techniques for real estate appraisal we calculated the cost of a hypothetical office building on the basis of retrospective data of the St. Petersburg market in accordance with each model. The study presents a comparison of the obtained results with a real time series of the cost. In addition it provides an alternative model for calculating the value within the income approach to valuation, which gives more accurate results. The results of the study are the model for predicting the capitalization rate with a probability of 95% and recommendations for the effective use of model techniques for calculating the capitalization rate. 10.18721/JE.10320 332.63 real estate appraisal income approach to evaluation capitalization rate forecast model model techniques for calculation of capitalization rate https://economy.spbstu.ru/article/2017.65.20/ 20_Pupentsova-Kamalova-Dyachkov.pdf