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.  

Management of risks of the Russian banking system in the context of economic crisis

2020 ◽  
Vol 26 (12) ◽  
pp. 2837-2857
Author(s):  
T.E. Chekanova
Keyword(s):  
Banking Sector ◽  
Negative Impact ◽  
Banking System ◽  
Economic Recession ◽  
Qualitative Assessment ◽  
Risk Regulation ◽  
Scientific Methods ◽  
Pros And Cons ◽  
General Scientific ◽  
Financial Losses

Subject. The article addresses the Russian approach to mitigating major banking risks that result from the current global economic recession. Objectives. I focus on the study of the existing system for banking risk regulation in Russia and its potential under the prevailing circumstances. Methods. The study draws on general scientific methods (analysis, synthesis, comparison, comparison, generalization, abstraction) and elements of comparative, economic and statistical, structural-functional analysis. The paper rests on the provisions of Federal laws of the Russian Federation, regulations of the Bank of Russia, and the IMF data. Results. The paper analyzes causes and effects of the aggravation of the main banking risks, defines stages of actions taken by Russian banks to minimize the negative impact of risks, investigates modern methods of quantitative and qualitative assessment of existing risks and possible risk-related financial losses, unveils the pros and cons of certain methods. It presents a detailed description of possible actions on the part of banks' management to respond to emerging risks and mitigate them to acceptable level. Conclusions. To be sustainable, the Russian banking sector should have a strong risk management system, enabling to evaluate and predict changes in the degree of risks and financial losses caused by them.

European experience in transition to circular economy

2020 ◽  
Vol 19 (4) ◽  
pp. 598-617 ◽  
Author(s):  
S.V. Ratner
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Raw Materials ◽  
Action Plan ◽  
National Level ◽  
The European Union ◽  
Scientific Methods ◽  
European Experience ◽  
General Scientific ◽  
The Eu

Subject. The article considers the concept of circular economy, which has originated relatively recently in the academic literature, and is now increasingly recognized in many countries at the national level. In the European Union, the transition to circular economy is viewed as an opportunity to improve competitiveness of the European Union, protect businesses from resource shortages and fluctuating prices for raw materials and supplies, and a way to increase employment and innovation. Objectives. The aim of the study is to analyze the incentives developed by the European Commission for moving to circular economy, and to assess their effectiveness on the basis of statistical analysis. Methods. I employ general scientific methods of research. Results. The analysis of the EU Action Plan for the Circular Economy enabled to conclude that the results of the recent research in circular economy barriers, eco-innovation, technology and infrastructure were successfully integrated into the framework of this document. Understanding the root causes holding back the circular economy development and the balanced combination of economic and administrative incentives strengthened the Action Plan, and it contributed to the circular economy development in the EU. Conclusions. The measures to stimulate the development of the circular economy proposed in the European Action Plan can be viewed as a prototype for designing similar strategies in other countries, including Russia. Meanwhile, a more detailed analysis of barriers to the circular economy at the level of individual countries and regions is needed.

CONCEPTUAL FRAMEWORK FOR MANAGING THE ECONOMIC BEHAVIOR OF AN INDUSTRIAL PARK

2020 ◽  
Vol 1 (12) ◽  
pp. 7-12
Author(s):  
D. S. MIRONOV ◽  
Keyword(s):  
Interest Groups ◽  
Conceptual Framework ◽  
System Analysis ◽  
Economic Behavior ◽  
Industrial Park ◽  
Conceptual Basis ◽  
Management Decisions ◽  
Main Interest ◽  
Scientific Methods ◽  
General Scientific

In this article, using general scientific methods, the existing approaches to making management decisions in the process of implementing one or another variant of the economic behavior of an industrial park are analyzed. The results of the system analysis revealed that most approaches do not fully take into account the peculiarities of the economic behavior of the industrial park, depending on the interests of residents and resource suppliers. The main interest groups and conceptual basis for choosing an option for such behavior are presented.

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 OFFSHORE TERRITORIES: POSITIVE AND NEGATIVE IMPACTS ON THE GLOBAL ECONOMY

2019 ◽  
Vol 4 (5) ◽  
pp. 352
Author(s):  
Anna Tytko ◽  
Iryna Sukhan ◽  
Marianna Koshchynets
Keyword(s):  
Economic System ◽  
Comparative Method ◽  
Legal Regulation ◽  
Scientific Methods ◽  
Financial Centre ◽  
Advantages And Disadvantages ◽  
Doing Business ◽  
The World ◽  
General Scientific ◽  
Offshore Activities

The aim of the article is to analyse and clarify the areas of development of offshore zones in the functioning of the world economic system. The subject of the study is offshore zones and offshore international centres as the locus of laundering of funds obtained by illegal means and their impact on the economy in total. Methodology. The study is based on the use of general scientific and special scientific methods in studying a coherent picture of development and possible trends in the further functioning of offshore zones in the global economic system. General scientific methods such as deduction, induction, analogy, analysis, synthesis enabled to reveal the implication of the world’s offshore zones as a system for laundering illegally obtained funds. The comparative method enabled to distinguish the specific features of offshore zones and offshore international centres and to identify common and distinctive features. The prognostic method allowed forming an original outlook on the advantages and disadvantages of offshore activities. Logical-semantic and dogmatic methods enabled to define the concepts of “offshore jurisdiction”, “offshore zone”, “offshore financial centre” and their specific features. The results of the study enabled to consider offshore zones, offshore financial centres and international financial centres, in terms of their specific features, as certain territories and areas of certain states, where under the exclusive conditions of doing business outside the territory of registration, non-resident entities are granted benefits and privileges in doing business, taxation, registration, and financial reporting, as well as an exclusive privilege of confidentiality. Practical implications. In the study, first, the concepts of “offshore zone”, “offshore financial centre”, “international offshore centre” are defined; second, the scientific approaches to their classification are analysed and compared in the specialized literature, the Fifth Directive is considered as the main legal regulation of money laundering and the BEPS Project; third, the author’s outlook on the positive and negative features of offshore activities and their impact on the world economy are substantiated. Relevance/originality. The author’s approach to the definition of the main features of offshore zones and offshore financial centres through the analysis of their qualitative characteristics is offered to determine the key areas of their development trends.

scholarly journals Applied principles of niche narrowing as an innovative strategy for promotion in social networks in the conditions of business digitalization and formation of the digital environment

2020 ◽  
Keyword(s):  
Social Networks ◽  
Rapid Development ◽  
Innovative Strategy ◽  
Scientific Methods ◽  
Goods And Services ◽  
Doing Business ◽  
General Scientific ◽  
Marketing Tool ◽  
Almost All ◽  
The Impact

In today's world, people go online not only for entertainment, but also to study, shop, search for the necessary information and more. And social networks are approaching a giant like Google every year in terms of number of users and frequency of using.Therefore, almost all entrepreneurs have their own page on social networks, which are an ideal platform for promoting their products and services. Over the past 10 years, a new Internet marketing tool has appeared that specializes in promoting and doing business on social networks – SMM (Social Media Marketing). And here it is especially important to build a quality and effective strategy that will make social networks a quality image and sales channel of any goods and services. The subject of the article is a marketing strategy for development and promotion in social networks.The purpose of the article is to develop the applied principlesof an innovative strategy for narrowing the niche for promotion in social networks according to the features and means of its implementation for various business projects, brands and blogs. General scientific methods are used, such as systems analysis, synthesis and abstract-logical – to clarify the features of the blogs in each niche, which work on the strategy of narrowing the niche; analysis of Facebook for Business algorithms – to determine the impact of such a strategy on the further effectiveness of targeted advertising and the allocation of a unique trade offer due to the strategy of narrowing the niche.The following results were obtained: ways of implementing a niche narrowing strategy for various blogs, brands and business projects were developed and demonstrated, their effectiveness was proved. Conclusions: the practical principles of implementing an innovative strategy for narrowing the niche for social networks, which can be used for various business projects, brands and blogs, described the possibilities of implementing this strategy according to their features and tools, highlighted the main advantages of this strategy for rapid development of social networks.

THE CURRENT STATE OF THE BANKING SYSTEM OF SAUDI ARABIA

2017 ◽  
Author(s):  
Maryna Korol ◽  
◽  
Olha Shumnegra ◽  
Keyword(s):  
Saudi Arabia ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Scientific Publication ◽  
Islamic Banking ◽  
Historical Aspect ◽  
Current State ◽  
The Government ◽  
And Control

This scientific publication analyzes the current state of the banking system of the Kingdom of Saudi Arabia. The peculiarities of the functioning of the Islamic banking system, the main types of financial products provided by banks and the laws under which financial services are provided to Muslims are identified. The basic principles of Islamic banking, which are prescribed in the Sharia, are described, such as, for example, the exclusion of interest on all financial transactions. There is also a list of major Saudi banks and foreign affiliates operating in the country. The historical aspect of the formation of the banking sector is studied. The main financial indicators are analyzed: the dynamics of assets, liabilities, the number of loans to private and corporate clients, the share of Saudi assets in global Islamic finance. Attention is also paid to the prospects and success of the stock market. The issue of management and control over the activities of banks and its role are studied. a list of specialized credit institutions established by the government to provide highly specialized loans to citizens of the kingdom. The positive dynamics of all indicators even in the conditions of global crises, thanks to the well-laid foundation and the further strategy concerning functioning in the conditions of the world pandemic are allocated. The list of the main internal problems which can suspend growth in the future is considered. The issue of the country's dependence on oil prices, with further impact on financial diversification, is considered separately. The prospects of the banking system of Saudi Arabia in the near future, and the role of the Kingdom as a partner in financial relations for the domestic economy are determined. Conclusions are made on the basis of the conducted research and prospects of further strategic development in this direction.

Sign in / Sign up

Export Citation Format

Share Document