Derivatives: Classification and Regulatory Issues

2021 ◽  
Vol 27 (8) ◽  
pp. 1813-1827
Author(s):  
Lyudmila A. GUZIKOVA ◽  
Natal’ya A. KIM
Keyword(s):  
Best Practices ◽  
Financial Instruments ◽  
Scientific Methods ◽  
Regulatory Issues ◽  
Market Participants ◽  
Current State ◽  
Economic Transformations ◽  
General Scientific ◽  
The Government ◽  
Goals And Objectives

Subject. We investigate problems of development and regulation of derivative financial instruments (DFI) in Russia. Objectives. The purpose is to consider trends in the regulation of derivatives. Methods. The study draws on general scientific methods. Results. Based on the analysis of best practices, we confirm the need to regulate derivative financial instruments and identify major requirements for the regulation. The paper describes the history and current state of DFI regulation in Russia, analyzes the opinions of researchers and experts regarding the government intervention in the DFI market functioning. Approaches to regulation are linked to the goals and objectives of market participants and macroeconomic functions of the market. The paper also shows mechanisms by which derivatives affect the level of systemic risk in the economy and proves the importance of organizational and economic transformations in the field of DFI. Conclusions. The paper states priority tasks and practical steps in the regulation of DFI in Russia.

scholarly journals Analytical estimation of the external market of Ukraine

2019 ◽  
Keyword(s):  
Foreign Trade ◽  
World Market ◽  
Economic Activities ◽  
Macroeconomic Factors ◽  
Scientific Methods ◽  
Current State ◽  
Analytical Estimation ◽  
General Scientific ◽  
The Government ◽  
The Impact

At the beginning of the third millennium in the conditions of rapid globalization a key value was purchased by foreign economic activity (FEA), as one of important macroeconomic factors of development of modern economy. The benefits of this activity were recognized long ago. The subject of research of this article are the main principles and trends in the development of foreign trade commodity flows of the Ukraine in coordination with its macroeconomic situation and world market conditions. The aim is to analyse the principles of the current state of foreign trade, as well as the methods of its regulation and the impact of export-import operations on GDP and the ways of forming foreign trade profits. The task is to research the efficiency of foreign trade market which is determined by the results of foreign trade balance. To provide the higher level of reliable accounting of the Ukrainian export - import data. Analytical necessity of territorial connections which depend on different the requirememts of the state. Estimation on different levels of country’s competitiveness is being used. General scientific methods and all methodological palette of statistical indexes are being used. The obtained results provide legislative and executive state bodies with important statistics data aboyt Ukrainian foreign trade and enable the government to take proper decisions and to control the market of the Ukraine. Conclusions: recommendations for further development of foreign economic activities, the development of politics of the Ukraine and international organizations, and also the analytical estimation of current trends on world markets.

Effectiveness of the consumer protection system upon purchasing goods in online stores

2021 ◽  
Vol 28 (1) ◽  
pp. 137-146
Author(s):  
Iryna Y. Puchkovska ◽  
Oleksandr O. Biliaiev ◽  
Victor P. Yanyshen ◽  
Hanna O. Urazova
Keyword(s):  
Consumer Protection ◽  
Protection System ◽  
Scientific Methods ◽  
Customer Reviews ◽  
Existing Problems ◽  
Current State ◽  
Foreign Countries ◽  
General Scientific ◽  
Online Stores ◽  
Potential Customers

Every year, the vast majority of countries switch to an online environment. This is especially true for online stores. The subject of this study is the system of consumer protection upon buying goods in online stores and its effectiveness. The purpose is to analyse the state of development of e-commerce in Ukraine and the system of consumer protection upon purchasing goods in online stores. The following general scientific methods were used: classification and theoretical generalisation – to study the theoretical foundations of e-commerce; statistical analysis – to analyse the current state of e-commerce in Ukraine and the consumer protection system. The following results were obtained: based on the analysis of the provisions of current legislation and the experience of foreign countries describing the development of the e-commerce market in Ukraine and the world, the main trends that have developed have been identified, the positive and negative aspects of e-commerce have been identified, as well as the effectiveness of the consumer protection system upon purchasing goods in online stores. It was concluded that the “e-commerce” industry is developing very dynamically. Consumer protection upon purchasing goods through online stores is carried out as with a regular purchase and sale, but it has a number of specific features. To attract potential customers and build their trust, online stores try to post as much information about their products and services as possible on their official websites, including customer reviews. This indicates that the sellers themselves are interested in resolving disputes as soon as possible and preserving their reputation. Taking this into account, it is the improvement of the consumer literacy of citizens, the ability to fully exercise their rights, and to protect their interests in case of certain contradictions that is one of the ways to solve the existing problems

scholarly journals The chest decoration in modern life of Bashkir women: on the problem of preserving traditions

2020 ◽  
pp. 135-146
Author(s):  
Z.F. Khasanova
Keyword(s):  
Social Networks ◽  
Ethnic Identity ◽  
Research Area ◽  
Scientific Methods ◽  
Internet Resources ◽  
Current State ◽  
Republic Of Bashkortostan ◽  
General Scientific ◽  
The Republic ◽  
In The Beginning

The purpose of this article is to study the methods for manufacturing, wearing and ways of use of the Bashkir chest decorations in the end of the 20th — beginning of the 21st c. The research area includes the Republic of Bashkortostan and neighboring regions where the Bashkirs live. Information for neighboring regions was collected using the Internet and social networks: VKontakte, Instagram, YouTube. The chronological framework of the study covers the end of the 20th — beginning of the 21st c., that is the time of a renaissance of traditions and the growth of interest in them. Field materials collected by the author during the expeditions in 2010–2019 to different districts of the Republic of Bashkortostan, archival materials, museum collections of Ufa and Internet resources where old and modern photos with Bashkir chest decorations are posted became the source base of the study. The article uses general scientific methods: comparative-historical, and the method of scientific description and analysis. During the collection of field materials, we relied on ethnographic methods, such as in-depth interviews, observation, and photo fixation. To study the current state of tradition, monitoring of social networks was used. Different types of female bibs used to be popular among Bashkirs — selter, sakal, hakal, yaga, muynsa, almaizy and others. They were very highly valued and used as essential part of the bride dowry. Chest decorations made of silver coins and real corals were very expensive. Until the end of the 19th — beginning of the 20th c., chest decoration retained its ethnic, social, and sacred functions. In the beginning of the 20th c., the traditional culture was undergoing a difficult period. During the hunger years of the 1920s, the period of the creation of collective farms, many Bashkirs were forced to surrender their jewelry for nothing. In the postwar years, very few people still had their authentic national decorations. In the end of the 20th — beginning of 21st c., on the wave of mobilization of ethnic identity and revival of interest in traditions, the bib as an ethnic marker became popular again. It has been revealed that there are five basic trends of manufacturing of the Bashkir bibs: from historical reconstructions to highly stylized pieces, from everyday to festive. Nowadays they are worn both for beauty and designating the ethnic identity, traditions, culture, demonstration of national Bashkir ownership. The initial spiritual and guarding function of chest decorations has now been lost.

scholarly journals The prospects for ecological tourism development in Ukraine

2019 ◽  
Keyword(s):  
Tourism Development ◽  
Qualitative Evaluation ◽  
Legal Regulation ◽  
Resource Base ◽  
Scientific Methods ◽  
Current State ◽  
Initial Stage ◽  
General Scientific ◽  
Evaluation Of Data ◽  
Ecological Tourism

At the present stage of tourism development in the world, the ecological tourism is one of the priority directions of sustainable development of the territories. Ecological tourism in Ukraine is at an initial stage of its expansion, but due to the existing natural and recreational resources of the country, this type of tourism has all the chances to become one of the main types of travel and create all conditions for improving the socio-economic situation of the population. The subject of the research is the prospects for the development of ecological tourism in Ukraine on the basis of the existing resource base. The goal of the paper is to substantiate the state and the prospects of the development of ecological tourism in Ukraine. The objective: to define the essence of the concept of "ecological tourism", to analyze the current state of the development of ecological tourism in Ukraine, to consider the features of regulatory and legal regulation of ecological tourism, to determine the prospects for the development of ecological tourism.In the article general scientific methods are used such as the analysis - for the research of separate components of ecological tourism; synthesis – to combine individual facts; statistical method – for the processing of statistical information and for qualitative evaluation of data; method of induction and deduction – helps to draw conclusions based on existing facts; systematic approach – for a holistic study of the prospects of ecological tourism relative to external factors of influence. The following results were obtained: on the basis of the analysis, the theoretical aspects of the concept “ecological tourism”are investigated, the necessary resources for the development of ecological tourism in the country are identified and the main prospects for the development of ecological tourism of Ukraine are determined. Conclusions: the prospects for the development of ecological tourism reflect the positive effect of ecotourism in Ukraine, which indicates the importance of its organization and development in the domestic tourist market of the country.

scholarly journals FINANCIAL PLANNING OF IMPORT OPERATIONS IN PE "ART-ENERGO"

2021 ◽  
Vol 5 (2) ◽  
pp. 61-71
Author(s):  
Zoriana Dvulit ◽  
◽  
Natalia Petryshyn ◽  
T. Kharchuk ◽  
◽  
...  
Keyword(s):  
Financial Planning ◽  
Evaluation System ◽  
Supplier Evaluation ◽  
Scientific Methods ◽  
Trading Company ◽  
Current State ◽  
Accounts Payable ◽  
General Scientific ◽  
The Stability ◽  
The Impact

Purpose. The purpose of the study is to formulate a proposal to improve the technology of planning the supply of goods as part of the financial planning of import operations of PE "Art-Energo" in accordance with the problems identified during the analysis of the enterprise. Among the objectives of the study are: - consideration of the current state and features of the functioning of the system of financial planning of import operations at the enterprise during the analysis of its activities; - identification of the most urgent problem that arises in the supply of goods within the financial planning of import operations of the enterprise; - formation of a proposal to solve the identified problem of financial planning of import operations and justification of its feasibility. Design/methodology/approach. To achieve the goals, special and general scientific methods were used, including: graphic method was used to visualize the cycle of financial planning of imports of PE "Art-Energo"; expert method was used to determine the weight of the criteria for evaluating suppliers in the system of financial planning of import operations of PE "Art-Energo"; comparison was used to justify the most favorable terms of cooperation and to select the best contractors; systematization was used for calculations of liquidity indicators; generalization was used to develop recommendations for working with partners by category in the system of financial planning of import operations of PE "Art-Energo". Findings. In the article is shown that the conditions of cooperation with foreign counterparties directly affect not only the competitiveness of the enterprise, but also the financial performance of its activities. It was found that non-parity terms of cooperation with suppliers can be one of the causes of cash gaps, which in turn leads to the inability of the company to repay its obligations on time and, consequently, to insolvency. It is established that the maneuverability of working capital is significantly reduced with the full advance of products, which is the main condition for cooperation of suppliers with PE "Art-Energo", so there is a need to transform the payment system. In order to increase the efficiency of the technology of planning the supply of goods as part of the financial planning of import operations, it is proposed to introduce a system of supplier evaluation in the activities of the enterprise. The hypothesis of a positive relationship between the introduction of supplier evaluation system as a tool of improvement the financial planning of import operations of PE "Art-Energo" and the growth of the company's ability to pay current liabilities, including timely payments on accounts payable due to operating cash flow is proven. Practical implications. The introduction of a supplier evaluation system based on the evaluation of estimation according to the relevant criteria and the classification of partners by category will help ensure transparency of the contractor selection mechanism, eliminating subjective preferences, thereby minimizing the impact of the human factor. That is why such a way to improve the technology of planning the supply of goods can find practical application not only in the case of PE "Art-Energo", but also for any other trading company. Originality/value. In the article, the authors suggest the use of a supplier evaluation system based on the results of the audit and the assignment of the rating to the contractors, that allow to identify their weaknesses and clearly formulate the tasks that need to be solved by the supplier in order to effectively cooperate with PE "Art-Energo". Eliminating the actual shortcomings of the supply system and the introduction of supplier evaluation system helps the company to reduce costs, risks, increase the quality of goods and ensure the stability of work.

scholarly journals “You are the Murderer!” The Semantic Function of Precedent Phenomena in the Interpretation of a Political Communicative Event in Modern Network Anecdotes

2021 ◽  
pp. 163-173
Author(s):  
Anna L. Kalashnikova
Keyword(s):  
Political Event ◽  
Political Dialogue ◽  
Scientific Methods ◽  
Semantic Function ◽  
The Public ◽  
Discursive Analysis ◽  
Political Events ◽  
Public Consciousness ◽  
General Scientific ◽  
The Government

The article considers the semantic function of precedent phenomena in the interpretation of a political communicative event in the texts of modern network anecdotes. The material of the study was anecdotes, which actualize the verbal formula “Whoever calls names is called that himself” used by V.V. Putin in response to a statement by Joe Biden during an interview on ABC on March 17, 2021. In the process of analyzing the material, contextual and discursive analysis techniques were used, as well as elements of Intent-analysis and general scientific methods of generalization and comparison. Since ordinary humorous communication reflects the real ideas of Russian citizens about political events in the country, an analysis of the texts of jokes will reveal stable ideas about the government and the international political situation that have developed in the public consciousness. The study reveals that in the texts of anecdotes that appeared as a reaction to the political dialogue of J. Biden and V. Putin, the most frequent are precedent phenomena dating back to children’s folklore. The analyzed cycle of anecdotes is dominated by the topic of children’s yard quarrel, with which relations between the presidents of Russia and America are associatively correlated. Fiction, history and jurisprudence became other areas-sources of precedent phenomena in anecdotes about J. Biden and V. Putin. Due to the use of precedent phenomena dating back to various sources and causing numerous associations, there is a semantic variability in the interpretation of the same political event in ordinary humorous communication.

scholarly journals International experience and common errors in protecting of confidentiality, protection and use of CbC reporting information

2021 ◽  
Vol 2021 (2) ◽  
pp. 146-159
Author(s):  
Nataliia CHUKHRAIEVA ◽  
Keyword(s):  
Best Practices ◽  
Action Plan ◽  
International Experience ◽  
Scientific Methods ◽  
Administrative Policy ◽  
Working Together ◽  
General Scientific ◽  
The Subject ◽  
Common Problems ◽  
Confidentiality Protection

Within the OECD, where governments are working together to address important issues of globalization, efforts are also being made to help OECD member countries respond more quickly to new challenges, one of which is to ensure the confidentiality and proper use of information. The OECD provides governments with the opportunity to share experiences in implementing administrative policy, to seek answers to common problems, to identify best practices and to coordinate activities in the context of these issues. The study of issues related to ensuring confidentiality, protection and use of reporting information between countries (Country-by-country, hereinafter - CbC) in the article is considered from the standpoint of international experience, in the context of this issue. For Ukraine as a post-Soviet country, the study of relevant experience is presented by such countries as Georgia, Kazakhstan and Russia. The analysis of international experience in ensuring confidentiality and the appropriate level of protection of information that is the subject of exchange between OECD member countries as part of the implementation of the BEPS Action Plan. The research is based on a combination of general scientific methods, comparison methods and an empirical approach. A summary of the national regulations of the countries in question is made, which contain provisions on confidentiality, data protection and proper use of information Country-by-country reports. Based on the results of the study, it has been proven that different tax administrations should, in practice, have different approaches to ensure the required level of effective protection of confidentiality of country-by-country reports information and establish penalties for breach of confidentiality.

Development of ESG Banking in Russia

2021 ◽  
Vol 27 (10) ◽  
pp. 823-830
Author(s):  
O. L. Bezgacheva ◽  
A. Yu. Rumyantseva
Keyword(s):  
Circular Economy ◽  
Banking Sector ◽  
Banking System ◽  
Economic Behavior ◽  
Scientific Methods ◽  
Standards Implementation ◽  
Doing Business ◽  
Current State ◽  
General Scientific ◽  
Managerial Responsibility

Aim. The presented study aims to assess the current state of the banking sector of the economy and its potential for the development of ESG banking and implementation of ESG standards.Tasks. The authors analyze the current level of ESG standards implementation and the banks’ readiness to further implement ESG standards.Methods. This study uses general scientific methods of cognition to analyze the problems and obstacles that arise during ESG standards implementation in banking practice.Results. The banking community’s participation in the funding of sustainable development projects is selective rather than overarching, with banks choosing individual banking products. Reports marginally trace their participation in lending to business projects related to the circular economy of various industries.Conclusions. The special place of the banking sector in the national economy and its interaction with the real sector of the economy offer great potential for the development of ESG standards, making it possible to introduce ESG technologies both in banking activities and in their active promotion to other sectors of the economy through customers, thereby accelerating the transition towards a circular economy in Russia. The strength of the Russian banking system has been tested in recent years, and it embraces the formation of new rules of economic behavior. By overcoming existing obstacles, banks will be able to switch to ESG standards in the coming years, thus becoming pioneers in doing business based on the principles of environmental, social, and managerial responsibility.  

Problems and specifics of the convergence of national accounting systems under the influence of IFRS

2021 ◽  
pp. 29-48
Author(s):  
Mihail Rodchenkov ◽  
Viktor Suyts
Keyword(s):  
Financial Reporting ◽  
Accounting Systems ◽  
Scientific Methods ◽  
National Accounting ◽  
Financial Reporting Standards ◽  
Current State ◽  
National Market ◽  
Market Economic ◽  
Expert Assessments ◽  
General Scientific

The research addresses the essence and outcomes of the convergence between national accounting and reporting systems (NARS) influenced by international financial reporting standards (IFRS). The aim of the study is to identify and examine the main elements of this process and its peculiarities in Russia; to highlight and evaluate the consequences of such convergence; to determine the areas for improving the effectiveness of NARS taking into consideration its current state. The methodology is based on the use of general scientific methods of theoretical and empirical research, including expert assessments and comparative analysis which allows to evaluate the changes observed in NARS. The findings help summarize and analize the organizational aspects of NARS elements transformation in the process of convergence under IFRS impact, including imbalances both in the NARS itself and in the relation between the NARS elements and other systems underlying the national market economic structure. The analysis concludes with an assessment of its effect on the NARS. The results will be of interest to specialists in the field of accounting and reporting as well as to regulatory agencies that implement state interests in this area.

Financial control over the performance of State-financed institutions: The institutional approach

2021 ◽  
Vol 22 (5) ◽  
pp. 592-604
Author(s):  
Galina Yu. STUKALOVA
Keyword(s):  
Systems Approach ◽  
Financial Control ◽  
Financial Flows ◽  
Scientific Methods ◽  
Budgetary Control ◽  
General Scientific ◽  
Governmental Functions ◽  
The Government ◽  
And Control

Subject. The article discusses the role of the controlling function of governance as part of the evaluation of State-financed institutions' performance. Objectives. The study substantiates institutional aspects of the concept Control with reference to State-financed institutions and the specifics of their finance. I also carry out the theoretical examination of the need in controlling their performance. Methods. The study involves general scientific methods. Drawing on the systems approach and logical generalization, I sorted prevailing views on the analyzable categories. The abstraction was applied to summarize the main conclusions. Results. Scholars still interpret financial control differently. Furthermore, regulatory documents, which are adopted by both the legislature and the government, are not consistent with the existing views on financial control. Some interim types of financial control may possibly be something else, which shall be further studied. In my opinion, any activities associated with financial flows shall be qualified as financial. Therefore, the respective control is financial. governmental budgetary control is subdivided into control over budgetary and extrabudgetary finance due the specifics of budgetary institutions' finance. As the performance of State-financed institutions is evaluated in terms of the efficiency of budgetary spending on governmental functions, control should pursue the evaluation of State-financed institutions' performance by source of finance. Conclusions and Relevance. Governmental financial control includes several interim types, including budgetary and extrabudgetary activities. The performance of State-financed institutions shall be monitored by the two aspects so as to evaluate whether budgetary funds are efficiently spent on governmental functions. The findings are designated for unfolding theoretical views on the control over State-financed institutions' performance as a crucial tool for administration. The findings can be used for scientific and practical purposes in accounting and control.

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