Systematization of ethnoeconomic vectors within the context of regional development of the Krasnodar Territory

The research aims to study the role of ethnoeconomy in the regional development of a polyethnic region and the structure of its vectors, which allows considering ethnoeconomy as a structure-forming factor for territories. Methodology: the research was conducted among ethnic entrepreneurs of the Krasnodar Territory. The authors studied the Strategy for Socio-Economic Development of the Krasnodar Territory until 2030 and surveyed 40 ethnic entrepreneurs engaged in ethnic tourism and crafts. Conclusions: according to the authors, the basic ethnoeconomic vectors include ethnic and ethnographic tourism, traditional agriculture and traditional nature management. The ethnic entrepreneurs surveyed indicated several problems in the selected ethnoeconomic vectors, for instance: limited availability of state and municipal programmes that would mobilize additional resources; weak infrastructure of the ethnoeconomic segment of the region, which makes the ethnoeconomic environment less competitive; and low financial resource capacity of the segments of the ethnoeconomic environment. Practical significance: the authors compiled a matrix table presenting the application of methods for regulating the ethnoeconomic vectors of the regional development of the Krasnodar Territory, which allows the authorities of the region to distinguish between the methods of regional ethnoeconomic development in order to control the management situation, adapt instruments and guidelines, and provide tangible support to ethnic entrepreneurs in line with the identified vectors of ethnoeconomic development of the region.

Scientific review digitalization of corporate culture as a factor influencing ESG investment in the energy sector

The popularity of ESG (Environmental, Social and Governance)-investing is growing rapidly all over the world. More and more investors are moving from the traditional investment paradigm to investing based on the principles of environmental social corporate responsibility. One of the most affected by this trend is the energy industry. The report discusses the possibilities of applying methods of digitalization of corporate culture to increase the attractiveness of enterprises in the energy industry for ESG investment. The study is based on the use of such methods of scientific knowledge as dialectical, a combination of historical and logical unity, structural analysis, traditional methods of economic analysis and synthesis, a review of both scientific sources describing ESG investment and the practical implementation of ESG approaches in the practice of corporations is carried out. The results are based on an analysis of current corporate policies and the implementation of ethical policies in corporate social reporting. The article provides an overview of theoretical studies in relation to corporate non-financial reporting and the principles of responsible investment, provides statistical data on the attitude of investors towards ESG investment, analyzes the best practices of energy companies in digitalization, improving corporate culture to make them more attractive for ESG investment.

Risk management of derivative financial instruments

The subject of the study is derivative financial instruments. At the beginning of the article, the concept of a derivative financial instrument (PFI) is considered, their advantages and disadvantages are given, after which the risks of operations carried out with PFI are formulated. Further, the article discusses the main problems inherent in the PFI market and suggests a number of measures to solve these problems. In conclusion, recommendations are made that will allow for faster development of the Russian market of financial derivatives.

Scientific method as the foundation of scientific research

The methodology deals with the methods of acquiring scientific knowledge, i.e. all aspects of scientific research as a method of gaining scientific knowledge about phenomena and processes. Scientific method enables gaining scientific knowledge by applying a series of principles, rules and procedures. Every research includes several general scientific methods. Hypothetical-deductive scientific method of acquiring knowledge and modeling method characterize empirical research, while comparative and analytical-deductive methods are applied in theoretical research. It is impossible to carry out research without a data collection method. Therefore, it is necessary to precisely define the methods, techniques and instruments that will be applied in research to gain new scientific knowledge.

Features of application of the forecasting simulation model in the planning process in the enterprise

This article discusses the features of using a multi-level simulation model of financial and economic forecasting when planning the activities of an enterprise operating in the railway industry, in particular in the segment of national and international freight transportation. The authors set a goal to show how, through the use of a multi-level simulation model of forecasting, it is possible to significantly increase the reliability of organizational and managerial decisions and ensure a more efficient allocation of resources and reduction of financial risks. The model constructed by the authors can be used to optimize costs, improve the quality of settlements with debtors and creditors, plan the cost and other indicators of financial and economic activity, the ability to build various forecast scenarios allows you to choose the most acceptable option for the company, taking into account the impact of key factors on the financial result and the level of financial risk.

Trends in the management of global economic development in the post-pandemic period

This article is devoted to the study of trends in the management of global economic development in the post-pandemic period. The paper developed recommendations for further development of countries in the context of the recurrence of pandemics. With this in mind, the main trends in the development of countries during the pandemic were considered and the impact of quarantine on the economies of various countries was determined. To model the future actions of states, based on studies of the historical preconditions for the development of countries in the post-crisis period, the basic patterns were identified, allowing to predict different scenarios of world economic development. The article introduces a forecasting method of global economic development based on the quadrant of trust and affluence of the population, which allows predicting various options for post-pandemic development according to four possible scenarios. The first option is a rapid V-shaped growth, which is based on the fact that with a sufficient level of public confidence in the government, as soon as the quarantine restrictions expire, the economy will gain momentum. The second one is the long-term U-shaped growth, which is expected to take place in terms of insufficient public confidence in the government, with a population reluctant to invest in economic growth. The third one is the L-shaped development, which does not provide for economic recovery in the short run due to public distrust and the impossibility of business recovery. Finally, the fourth scenario is the worst one: it's the way of development, that occurs in case of impossibility of survival and complete distrust to the government; the population will be forced to organize protests and revolutions, thus making the economy operate even worse. According to the expectations of international regulators, V or U-shaped recovery of the world economy after the COVID-19 pandemic is expected nowadays. Most businessmen believe that post-pandemic development will be U-shaped. To improve the mechanisms of managing the development of world economies, the directions of development are proposed focused not on capitalist, but social goals. The state should occupy an important place in this process acting as a guarantor of efficient allocation of resources and providing social guarantees to the population during possible further cataclysms.

Financial engineering to optimize risk management in banks based on Interest Rate Swaps to better hedge the exposure to interest rate fluctuations the case of banks in Syria

The banking system is affected by uncertainties related to the evolution of pandemic. One of the identified risks is that of a fluctuation of rates. Volatility of Interest rates is one of the major risks for the banking system. Therefore, financial engineering can be used as a very important hedging practice for banks against such a risk. The aim of this study is to develop a risk hedging mechanism to better overcome market volatility by hedging position against the exposure to interest rate risk based on credit derivatives. Therefore, this study uses Interest Rate Swaps (IRS)s to better hedge the exposure of banks to interest rate fluctuations in stress conditions giving consideration to the case study of banks in Syria in optimizing hedging practices based on Interest Rate Swaps. The aim is to use financial engineering to provide banks with a hedging technique to better absorb shocks in times of stress conditions. This has been discussed and illustrated with visual model diagrams. The case study of banks in Syria is not just the story of individual banks but a window into how to hedge the exposure of banks in stress conditions. In the end, most banking crises are quite similar. The recommendations set out in this study provide banks with an optimized hedging practice which is not part of current financial engineering at banks in Syria.

Features of managing the development of interethnic relations in Russia based on economic and geographical position: On the example of the regions of the Volga Federal District

The article shows the relevance of ethnic research in the modern world. The paper summarizes the scientific literature, published by specialists of different sciences concerned with ethnicity and ethnic processes in Russia and other countries. The Volga Federal District, which is one of the most multi-ethnic territories of Russia, was chosen as an object of study. The ethnic composition and interethnic relations in the regions of the Volga Federal District are analyzed. The forecast associated with the ethnic characteristics of the settlement within the district is presented. The influence of the economic and geographical position of the district on the dynamics of the ethnic composition of its population is shown. Conclusions based on current trends in the development of ethnic processes and inter-ethnic relations in the regions of the Volga Federal District.

Regional level of inclusive development

The concept of inclusive development provides equal opportunities for all participants in access to the labor market and resource allocation. This concept emphasizes the equality of human capital, the ecological state of the environment, social protection and food security. This concept is fundamentally different from the standard perception of economic growth, because it has broader goals than simply increasing incomes and GDP. It rejects the position that positive results are an automatic consequence of growth; here the basic condition is human development and increase of its well-being, reduction of poverty. Therefore, it is not the result of distribution that becomes primary, but the involvement in the process of social reproduction. An alternative system of characterization of the country's position according to the resulting indicator of the Inclusive Development Index was presented at the World Economic Forum in Davos. In this research the methodical development of the system of estimation of the index of inclusive development for regions of the NUTS 4 level of the European classification is resulted.

Double taxation considerations with reference to the avoidance of double taxation of value added tax between the Republic of Serbia and Kosovo UN 1244

Tax is the most important type of public revenue. Taxes are necessary for the functioning of the state. It is difficult to imagine the state as a legal entity, without taxes. Most of the funds for financing public expenditures were obtained through taxation. The phenomenon of double taxation occurs when several sovereign countries claim the right to tax the same taxpayer for an identical period, which leads to a more severe form of taxation to the detriment of the taxpayer. The aim of this paper is to present the way of treating the problem of double taxation with special reference to the methods and measures of eliminating double taxation. The authors also point to certain aspects of the problem of double taxation in Kosovo UN 1244.