The rights of performers in the legal practice of the Russian Empire: an agreement between the Joint-Stock Company “Gramophone” and the Society of periodicals and literature personalities

The article is devoted to the history of formation of the mechanism for protecting the rights of performers in Russia in the pre-revolutionary period. Analyzing one of the first agreements between participants of copyright and related rights’ market, the author examines the specifics of their relationship in the absence of legal protection means, enshrined in the law.

Developing a methodology for assessing the risk of hostile takeover of a motor transport enterprise and measures to prevent it

Problem. Mergers and acquisitions are traditional processes of redistribution of property rights in a market economy. Mergers are often used by companies to gain control over larger market segments and increase performance efficiency. The acquisition process is not always desirable for the target company and is often used to establish control over its assets. Thus, the problems of assessing the risk of hostile takeover of the enterprise and its prevention are extremely relevant at the current stage, especially in the transport sector of Ukraine. Goal. The goal of the work is to develop the methodology for assessing the risk of hostile takeover of a motor transport enterprise and suggest methods for preventing its occurrence. Methodology. During the study, the following research methods have been used: analysis and synthesis, logical analysis. Information resources of the study are electronic information resources and periodic publications. Results. The risk of hostile takeover of an enterprise is the probability that the enterprise will become the takeover target through the legal actions and methods taken by the acquirer, but the acquisition procedure itself is against the wishes of the target’s board. The list of factors that determine the attractiveness of the potential acquisition target includes: the attractiveness of the enterprise in terms of its financial results and performance, the enterprise is not public, it occupies a considerable market segment, the enterprise operates as a joint-stock company, it is attractive in terms of further resale of its assets, the prospects of the industry in which the enterprise operates. According to the results of the studies assessing the risk level of hostile takeover of the group of motor transport enterprises, it has been revealed that 45% of enterprises are in the medium risk group. The following list of measures aimed at defending motor transport enterprises against hostile takeovers has been developed: the formation of optimal share capital structure; share consolidation when the majority shareholder holds the controlling interest; carrying out a sound dividend policy, the continuous monitoring of amounts and maturity dates of accounts payable, preventing the risk of arousing the counterparties’ interest in the resale of debt obligations of the enterprise to others. Originality. The methodology for assessing the risk of hostile takeover of a motor transport enterprise and reasonable measures to prevent its occurrence have been proposed. Practical value. The proposed recommendations can be used by the owners and management of motor transport enterprises to build an effective system for preventing potential hostile takeovers.

The nexus between financial failure and stock prices: Panel Pedroni, Panel Kao and Panel AR DL Co-Integration Tests in Turkey REIT s

In today’s globally competitive environment, companies must keep up with these competitive conditions to be successful. Failure of companies to show the expected financial performance, fulfil their financial obligations, or reach their financial targets is considered a financial failure or bankruptcy risk. Real Estate Investment Companies or Trusts (REICs or REITs) are capital market institutions that qualify as legal entities and are partnerships in a joint-stock company that provides financing to all kinds of real estate or real estate projects and bring together many investors for the desired real estate. REITs are an essential investment choice that continues its rapid development in Turkey. This study aims to examine the relationships between the ZScores calculated by periods of REIT companies traded in Borsa Istanbul between 2010–2019 and the stock price performances. In the study, primarily Altman Z-Score and Springate S-Score values of companies traded in Borsa Istanbul were calculated with the help of financial ratios. Then, Pedroni and Kao panel co-integration analysis and Dumitrescu-Hurlin panel causality analysis were performed. According to the analysis results, there is a long-term relationship between the financial failure scores of REIT companies and their stock prices. However, a causality relationship was found between the series.

ASSESSMENT OF THE COMPLEXITY OF OCCURRENCE AND GEOLOGICAL VARIABILITY OF THE QUALITY OF HIGH-GRADE ORES DURING THE DEVELOPMENT OF THE C-2 DEPOSIT

The work is devoted to a very topical issue - predicting quality indicators in underground mining of ore deposits. In this work, the conditions and ways of improving the quality of ores during mining were studied on the example of deposits of rich ores in the northern flanks of the Talnakh and Oktyabrsky deposits of Talnakh. The studies were carried out in specific conditions at the mining enterprises of the Polar Division of the Public Joint Stock Company Mining and Metallurgical Company Norilsk Nickel. The northern deposits of the Talnakhskoye deposit represent the main prospect for replenishing the retired production capacities for the extraction of high-grade ores. The significant heterogeneity of the distribution of the metal content in industrial reserves of rich copper-nickel ores is the primary cause of high fluctuations in the quality of ore flow, which requires the use of the most advanced mining technologies to control the quality of ores during extraction. The process of forming the required quality level of mined ores at the mines of the Polar Division of PJSC MMC Norilsk Nickel is of paramount importance. However, during the development of deposits of «rich» ores in the ore stream «mine - processing plant», significant fluctuations in the quality of the ore mass are formed, which lead to losses of metals in the process of concentration and during metallurgical redistribution, thereby reducing the economic efficiency of the entire mining and metallurgical complex, as determines the relevance of the work.

Development Trends of Joint Stock Companies

Joint-stock company is the pinnacle of development of organizational forms of functioning of private capital. Having emerged at a certain stage in the development of the market, a joint-stock company has become the leading form of concentration of private capital and the main source of their further growth including the form of citizens' money savings. The expansion of the size and circle of private capital owners, in turn, required further development of the specific composition of joint-stock companies, on the one hand, towards increasing their publicity and increasing the number of shareholders, and, on the other hand, in order to ensure the processes of the fastest, cheapest, complete and the relatively “safe” inclusion of small private savings in total equity. This revealed the specific process of the division of labor in the field of investment. Investment funds that specialized in "collecting" private savings for their investment in stakes in different companies have emerged, and professional financial intermediaries have developed in order to provide all the necessary services to ensure the process of mass investment in shares. Taken together, all these processes reflect the growth of the social character of modern private capital uniting in joint-stock companies and similar organizations. However, this process of growth of "socialization" of private capital has its own internal limit, which is that any form of pooling of private capital should not cease to be a source of growth of private capital and personal wealth of members of modern society.

Solvency Test in Polish Simple Joint-Stock Company: A Review and Comparative Analysis

The subject of the article is a comparative analysis of the solvency test - a legal instrument that conditions causa societatis payments for limited liability companies upon ascertaining their impact on its future liquidity (ability to pay debts as they come due), which has recently been incorporated into the Polish legal system with reference to a simple joint-stock company (pol. Prosta Spółka Akcyjna) (Article 30015 § 5 of Polish Commercial Companies Code). Considering that the solvency test originated in common law, the comparative analysis of the instrument in question was set against the background of selected foreign legal systems, i.e., the law of New Zealand, United States and the United Kingdom, where the solvency test is shaped much differently than the polish one.

Wroclaw Electronic Works: Wrocławskie Zakłady Elektroniczne „Elwro” 1959–2000

Based on the research potential of the Wrocław higher education center and its achievements in mathematics and automation, Wrocławskie Zakłady Elektroniczne “Elwro” was launched in the capital of Lower Silesia, in the late 1950s. Starting with the production of relatively simple electrotechnical devices, the company transformed in just a few years into a manufacturer of digital machines of its own design, “Odra”. They have found wide application in science, administration, communication and industry − both in Poland and abroad, mainly in the Comecon member states. The 1970s were the period of the peak development of WZE “Elwro”, in which apart from devices of its own design, computers belonging to the so-called Uniform System of Digital Electronic Machines of Comecon countries, were also being produced. The effects of the economic crisis of the 1980s abruptly reduced the orders for computers produced in “Elwro”, and their development and production was slowed down by problems with obtaining materials that were scarce in the country and foreign currency for foreign purchases. The technological distance between the “Elwro” offer and the equipment manufactured in the leading countries of the West was growing. After the start of the system transformation in the country, the management of “Elwro” attempted to carry out radical organizational transformations and grant the company the status of a joint-stock company. However, they were held back for too long by both the lack of government support and the concerns of the works council. Meanwhile, deteriorating economic results forced the management of “Elwro” to reduce employment and sell more and more assets. Ultimately, in 1993, the plants were transformed into a sole-shareholder company of the State Treasury, and then sold to the German concern “Siemens”. For the new owner, the only thing that mattered was the access to the Polish telecommunications market obtained in this way. He did not use the still existing human resources and production potential of “Elwro” and, shortly after the purchase, practically liquidated the company. In 2000, its remains were sold to the American telecommunications company “Teletec Holding”, which changed the name of the company to “Teletec Polska” S.A.

Assessment of effectiveness of organizational measures for prevention of COVID-19 among employees of large industrial enterprises

According to the regional information fund of social and hygienic monitoring, 1518 cases of 01.07.2021 diseases were registered among those working at industrial enterprises of the Republic of Buryatia as of COVID-19, of which the share of the joint-stock company Ulan-Ude Aviation Plant (hereinafter – U-UAP, aviation plant) accounts for 30.8 % or 467 cases, in the public joint-stock company Territorial Generating Company No. 14 (hereinafter – TGC-14, heat power plant) – 15.7 % or 239 cases. The incidence rate of COVID-19 in U-UAP amounted to 871.76 per 10 thousand workers, in TGC-14 – 2280.53 per 10 thousand workers. The evaluation of the effectiveness of COVID-19 prevention showed that the complex of sanitary and anti-epidemic (preventive) measures taken in the pandemic among those working at the aviation plant ensured the control of the spread of the incidence of coronavirus infection by 2.6 times, compared with the heat power plant. Keywords: disinfectants, new coronavirus infection of COVID-19, industrial enterprises, sanitary and anti-epidemic (preventive) measures, Republic of Buryatia.

Experimental studies of the components of high-frequency ion engine RD0310

Testing of prototypes of equipment is the most important stage of their development. The article considers a low-power high-frequency ion engine RD0310 which was manufactured and tested at the production base of the KBHA joint-stock company. The tests were carried out in a vacuum chamber with a volume of 5.66 m3, the vacuum pumping system of which allows for a pressure inside the chamber of no more than 110-5mm Hg. with xenon consumption of up to 0.7 mg/s, which is as close as possible to space conditions. During the tests, the cyclogram of starting and stopping the engine was worked out, and the thrust dependences on the flow rate of the working fluid, the power of the high-frequency generator and the voltage at the emission electrode were obtained. According to the test results, stable engine operation was achieved and the following values were obtained: the thrust of 9.1mN at a specific impulse of 3740 s.

WAREHOUSE OPERATIONS OF PASSENGER SERVICE CAR DEPOT WITH LOGISTICS ELEMENTS

The article discusses the issues of rational organization of the warehouse process of storing inventory, the sequential implementation of warehouse operations, the improvement of labor organization and technological solutions, the effective use of various equipment involved in the performance of technological operations at the warehouse of the carriage depot of the Joint Stock Company «Uzpasstrans». The issues of creating a database for storing goods, an effective system for organizing their account are considered. The ER-diagram of the database of warehouse inventory of spare parts and components has been developed. The functions and procedures for working with database data on components and spare parts located in the warehouse of the carriage depot have been determined.