Effective Practices of Macroprudential Stress Testing as a Tool of Increasing the Stability of Russian Financial System in the Context of Macroeconomic Shocks

The article examines the evolution of the prudential approach to banking regulation, examines the practical contribution of the Basel Committee on Banking Supervision to the development and implementation of internationally unified practices and procedures for stress testing and supervision. The authors share the point of view that the existing methods and practices of stress testing still need improvements and methodological improvements, since they regularly allow the practical implementation of adverse scenarios leading to financial shocks and global crises. As a significant disadvantage of many actively used stress testing models, it is noted that they are often focused on complex, highly bureaucratic procedures for the preparation and analysis of financial statements, the main purpose of which is to assess the probabilities and sizes of losses and identify scenarios for the development of the situation for each specific bank, and no risks for the financial system as a whole. The authors come to the conclusion that it is advisable to prioritize the use of alternative stress testing models in crisis and post-crisis conditions, the forecasts within which are based on the actual values of financial market indicators, macroeconomic variables, and other open data. Special attention is paid to the stylized CLASS model, based on simple econometric models, as well as stress testing the current market value of V-lab. Based on the results of the study, the authors come to a number of conclusions that the role of the macroeconomic component in the procedures, methods, and algorithms for macroprudential stress testing used in Russia should increase, the degree of involvement and the sphere of responsibility for its results of key institutional units of the public administration system should expand, and macroprudential stress testing itself should not be limited to supervisory stress testing in everyday practice.

Global Value Chain Governance in the MNE: A Dynamic Hierarchy Perspective

The pandemic crisis caused a severe shock to global value chains and led to supply shortages for complex medical goods such as respiratory ventilators. What followed were calls to reshore production for security, and the loss of efficiencies from foreign global value chain (GVC) operations for the multinational enterprise. This article merges internalization and GVC theory to demonstrate a dynamic hierarchy managerial response to these crisis conditions. An optimally configured GVC under hierarchy governance can resiliently eliminate global supply line ruptures yet maintain the benefits of global efficiency.

Government Capacity in Coping with Covid-19 in Bandung City

This article analyzes the capacity of the Bandung City Government to handle the COVID-19 pandemic. There is a gap between the policies implemented and the high curve of the spread of the virus in Bandung city. This study used a qualitative approach, and the data sources were from various documents, observations, and interviews. This article finds two factors that influence the capacity of the Bandung City Government: (i) the relationship between the central government and regional governments and (ii) the capacity of individuals to process information and exercise discretion. The weak capacity of the Bandung City Government affects trust, which has implications for the low participation of Bandung City residents. The article that elaborates on the state (government) capacity approach from Williams (2019) shows that individual capacity directly affects government capacity in crisis conditions, such as the COVID-19 pandemic.

Management Leadership Transition From Covid Period to New Normal

The purpose of this article is to find out the condition of the management leadership transition from the Covid period to the New Normal. The leadership model needed in times of crisis is a specific leadership model, because crisis conditions can separate effective leaders from ineffective leaders so that the handling of crisis conditions will also only be effectively carried out by leaders with a certain set of qualifications and characteristics. It takes expertise in management leadership so that it can survive in crisis conditions.

System of factors determining the pricing policy of machine-building enterprises in modern conditions

The article considers modern economic categories of pricing policy and pricing strategy, which with some similarity have differences in practice. The definition of pricing policy and its importance in modern conditions is given. The basic elements of the pricing policy of enterprises are given. The aim of the study is to analyze the main factors that determine the pricing policy of an enterprise in modern conditions and the possibility of their competent use in practice. Methodologically, the study is aimed at an integrated approach to taking into account the most significant factors that determine an increase in the efficiency of an enterprise in post-crisis conditions, taking into account inflationary processes in the country's economy. As a result of the study, the factors under consideration are divided into the following groups: factors of the development of the market environment; factors of taking into account the strategic objectives of the enterprise development; factors of state control in the field of prices for goods and services; factors of characteristics of manufactured goods; factors of sustainable development of the enterprise; factors of influence of inflation on the pricing policy of the enterprise.

Costs of treating community-acquired bacterial bronchopneumonia in pediatric patients

Relevance. Health management has not escaped the pressure of the current epidemiological situation. In a complex scenario, characterized by the COVID-19 pandemic, the daily dynamics become more complex and greater agility is required for decision-making. Much of the success of those decisions is determined by access to timely information, especially in crisis conditions and limited resources. For this reason, health organizations are interested in knowing the costs of pathologies that frequently constitute causes of hospitalization. In this sense, community - acquired bacterial bronchopneumonia stands out, which is a disease that frequently causes hospitalization of pediatric patients. Objective. This article aims to carry out a partial retrospective financial evaluation in order to determine the costs associated with the treatment of community-acquired bacterial bronchopneumonia in pediatric patients. Materials and methods. The study was developed from the perspective of the health institution General Hospital Guillermo Luis Fernndez Hernndez - Baquero in the city of Moa. For this, the analysis - synthesis and comparative methods were used, as well as the methodology to calculate and analyze disease costs. Results. The research focused on the January-March quarters of the years 2017 and 2018 and provided valuable accounting information regarding the direct and indirect costs of the treatment of the pathology in question, which serves as a tool for the correct management of the hospital institution. Conclusion . The direct costs exceeded the indirect costs and the items that most affected the total cost were the salaries of the workers, food, and medicines used to treat the disease. The need to develop digital health was evidenced, with special emphasis on digital medical records to facilitate access to them and thus avoid the loss of information due to its deterioration. The study provides useful information to the management of the health institution, which serves as support for budget analysis and future projections.

Current trends in budget and legal regulation

Problem setting. Nowadays Ukrainian society is in a state of permanent transformation, due to many factors, among which it is possible to designate both European integration and digitalization processes, which currently have a very intense impact on various spheres of life. New ones are accepted, as well as numerous changes to existing regulatory acts governing various kinds of relations. Not an exception are budget relations, which are transformed under the influence of objective and subjective factors. In this swirl of events of particular importance, the problem of quality of those normative changes that are initiated by the subjects of the legislative initiative today becomes a problem. The fact is that the effectiveness of the legal regulation, the effectiveness of its action, the successful implementation of the tasks for which such a normative legal act was created depends on how much normative legal acts or changes to it will be of high quality. A particularly significant problem is the need to ensure the financing of budget expenditures, the fulfillment of budget obligations in crisis conditions. As it is seen, the subjects of the legislative initiative do not have time or do not know how to deeply study the problems posed to the solution, and since then they set incorrect tasks for changing approaches to the modern regulation of budgetary legal relations, the implementation of which is not able to ensure their practical implementation. The purpose of the article is to study modern trends in budgetary and legal regulation in Ukraine. Article’s main body. The presented publication focuses on the study of modern innovations in the field of budgetary and legal regulation. It is emphasized that in the present, the problem of quality of those normative changes initiated by the subjects of the legislative initiative becomes of particular importance. It is emphasized that the introduction of modern technologies in the conditions of digitalization of all spheres of public life, including in the sphere of budgetary and legal regulation, is positive. At the same time, for their effective implementation, it is necessary to systematically approach the solution of this issue and develop proposals for changes and additions in a number of articles of the Budget Code of Ukraine. The authors stated the inappropriacy of expanding the list of articles of certain normative legal acts, whose financing is dependent on the discretion of the Cabinet of Ministers of Ukraine, taking into account the availability of financial resources of state and local budgets and the budget of mandatory state social insurance. Conclusions. Based on the analysis, we conclude that any changes to the legislation, especially in the field of public finance, should be constructive and contribute to the achievement of the goal of their implementation in law enforcement. At the same time, any legislative innovations should be complex and comply with generally accepted rules and standards of rule-making technique.

EVALUATION OF THE EFFICIENCY OF FRANCHISING IN THE HOTEL BUSINESS

The development of tourism is inextricably linked with the effective functioning of accommodation facilities, which in many countries form a significant share of gross domestic product. The hotel complex of Ukraine needs development and significant investment resources for reconstruction and bringing to international standards. Franchising can become an effective and efficient mechanism for conducting hotel business, which will reduce the risk of business activities, optimize investment, increase the level of hospitality services. The article analyzes the conceptual approaches to the organization of hotel business on a franchise basis in the Ukrainian market, explores the essence and mechanism of business processes on a franchise basis, outlines the economic relations between participants in such relations, identifies advantages and disadvantages of franchising for participants: franchisor and franchisees. In order to assess the effectiveness of opening hotels under franchise agreements, in addition to financial indicators based on discount estimates, it is necessary to take into account the additional benefits that franchisees will receive from consulting services of the franchisor, such as concessional lending, rent, transfer of contracts with suppliers and contractors. reduction of the period of reaching full capacity, transfer of the established business practice, etc. It is the transfer of an efficient business model that will reduce operational risks and guarantee high economic performance. The state and prospects of hotel activities in the conditions of activity restriction due to the COVID-19 pandemic are also considered. Crisis conditions of economic activity always give impetus to new ideas and development of new services. The vectors of further development are the informatization of most technological operations in the industry, and the optimization of operating costs, the formation of a new product, such as renting office space for business people who are ready to work and relax at the same time.