Mechanisms for managerial decision making during the digitalization of production processes for an industrial enterprise

Introduction. The relevance of studying the industrial enterprise digitalization processes and developing a methodology for implementing production process control systems is due to the fact that digital technologies introduced into the manufacturing sector are important drivers for improving production management processes, improving labor productivity indicators, reducing the labor intensity of manufacturing products, reducing the cost of products and increasing quality. Theoretical analysis. The information systems and products most commonly used in modern practice of industrial enterprises in aviation industries are analyzed. Empirical analysis. The analysis of options for making managerial decisions to create an ERP complex that automates the processes of production’s technological preparation was carried out using the methods of analyzing advantages and disadvantages, paired comparisons and Kepner – Trego. A mechanism for making informed management decisions on the analysis of alternatives is presented, as well as the evaluation and selection of options for digitalization of the technological preparation processes based on the use of the principles of developing a management decision. Results. The choice of the Global ERP system for managing production preparation processes at industrial enterprises in the aircraft industry is justified, since it most closely matches the selected evaluation criteria.

Problems and directions of improving the industrial production digitalization

Introduction. Digitalization of the industrial sector in Russia is a priority task aimed at modernizing and optimizing production processes, improving the quality and competitiveness of products, as well as strengthening the country’s position in the world market, which makes it relevant to analyze the problems of introducing digital technologies into industrial production. Theoretical analysis. The main internal and external aspects of the industrial production digitalization that may affect its success are presented, a SWOT analysis is carried out and the advantages, disadvantages, opportunities and threats associated with the digitalization of industrial production in Russia are analyzed. Empirical analysis. The digitalization of industrial production in Russia is under the influence of the following problems: lack of digital infrastructure, lack of qualified personnel, high implementation costs, cybersecurity problems, unprepared legislation. Results. The directions for improving the digitalization of industrial production are determined. In general, the results of improving the industrial production digitalization are associated with improving the efficiency, flexibility, quality and competitiveness of the organization, as well as creating new opportunities for growth and development.

Systemic risk in Russian financial market: A ΔCoVaR approach

Introduction. Recent financial crises have highlighted the need for increased attention to systemic risks and indicators to track them. This study is devoted to the assessment of systemic risk, which is a popular subject of economic research. The paper analyzes systemic risks in the Russian stock market for companies included in the RTS index. Theoretical analysis. We will focus on one common measure of systemic risk, CoVaR, which is the notional value at risk (notional VaR), defined as the change in the value of a financial system (asset) at risk versus another asset (system) in decline. The CoVaR risk measure is a powerful risk management tool and can be viewed as a simultaneous measure of system vulnerability, allowing the identification of assets that are classified as systemically important. Еmpirical analysis. The study tests the hypothesis of structural changes in the risk propagation network over time and looks at various measures of strength centrality, betweenness centrality, eigenvector centrality and Page Rank to identify assets that can propagate negative shocks through the network. Results. The results show that during the shocks of 2014 and 2020 the Russian stock market was exposed to more systemic risk and greater interconnectedness between assets. Shares of Sberbank and Tatneft contributed significantly to this risk during the political crisis and beyond, with company size not a dominant factor.

Substantiation of structural changes priorities in the Saratov region agro-food complex

Introduction. Modern challenges and threats to the development of the Russian agro-food complex determine the search for new growth sources of the complex, the strengthening of orientation towards the formation of a balanced functional and sectoral structure. The relevance of the regional aspect of research and substantiation of structural changes in the agro-food complex is associated with a deep socio-economic, natural-climatic and socio-cultural differentiation of the country’s regions. Theoretical analysis. Changing the role of regions in solving food security problems and providing the population with quality food is a global trend. The rupture of global food chains as a result of the COVID-19 pandemic and the sanctions confrontation strengthens the influence of local producers on the food market, suggests the need to form a multilevel agro-food complex of the country. Structural changes in the agro-food complex of Russia have their own characteristics associated with the heterogeneity of its spatial development. Empirical analysis. The accelerated growth of the agricultural sector of Saratov region economy due to the concentration on the production of a limited group of agricultural products (cereals and oilseeds, sugar) has been revealed. The regional food market segments, which have a surplus and shortage of products, are determined. It is substantiated that current trends extrapolation in the development of the regional agro-food complex preserves its unbalanced structure and further growth in the share of raw materials and primary processing products, while reducing the share of deep processing products. Results. Adaptation to new risks and threats is associated with an increasing trend towards the localization of production and supply of agricultural products and food. The priority areas for the development of the regional food system should be the diversification of agro-food production, local food chains formation with deep processing of agricultural raw materials, and the intensification of interregional exchange.

Property and non-property risks in the Russian corporate governance system

Introduction. Corporations today are the basis of any state’s economy, and within the framework of corporate governance, key strategic decisions are made that determine the fate of corporations. Accordingly, the problem of corporate governance risk management is one of the key economic problems, as it affects the interests of not only the participants of corporate relations, but also a huge number of economic agents. Theoretical analysis. The article presents the views of Russian scientists on the characteristics and classification of corporate governance risks, defines the property and non-property risks of corporate governance, considers the causes of their occurrence, as well as the mechanisms of influence on the corporation, its participants, creditors, public law entities. Also, a distinction is made between the objectively existing normal business risk and the predominantly subjective risks of corporate governance. Empirical analysis. Based on statistical data on bringing controlling persons to subsidiary liability, it is shown that the number of bankruptcies of Russian companies due to the manifestation of corporate governance risks is steadily growing. Results. The author’s typology of corporate governance risks, characterized by their relationship and interdependence is developed. Property and non-property risks of corporate governance are identified, the impact of which on the activities of Russian corporations is currently the most significant. Among them are those to which it is possible to adapt in the modern conditions of doing business. It is concluded that in the process of managing corporate risks based on the use of corporate law institutions existing in Russia and their combinations, it is impossible to nullify completely the occurrence and manifestation of the risks in question. Nevertheless, to ensure the necessary mutual control of the corporate relations subjects, limiting their ability to act in bad faith and unreasonably to the detriment of the company, is quite an achievable task.

Development of Russian precious metals sales planning under the conditions of macroeconomic and geopolitical instability

Introduction. The development of science and technology in recent decades, the active introduction of innovations and ongoing technological changes have significantly influenced economic processes and led to the emergence of a post-industrial economic system with a predominance of the Quaternary knowledge-intensive sector of the economy. Theoretical analysis. The development of intellectual activity and the expansion of the intellectual production sphere change the quality of the economic system itself. In modern economy, the development of markets for intellectual goods and services leads to qualitative changes in traditional sectors of the economy, which makes it important to study their development dynamics. Еmpirical analysis. Based on empirical data from 85 Russian regions for 2014–2021, an integral indicator of the development level of regional markets for intellectual goods and services was calculated using nine indicators that characterize the most large-scale knowledge-intensive sectors of knowledge generation in regional economies: educational services, innovations and information technologies. Results. The dynamics of the development of regional markets for intellectual goods and services as a whole is determined, and the unevenness of their development and a high degree of differentiation are revealed. The “disconnection” of regions with a high level of development of knowledge-intensive sectors from each other hinders the formation of an even innovation space and the spread of a high-tech way of life, the effective transfer of knowledge, technology, information and economic growth in general. Conclusion. The results of the study can be used to analyze changes in the educational services market, when conducting research on the innovative and informational development of regions, predicting qualitative and quantitative trends in the development of markets for intellectual goods and services.

Development of Russian precious metals sales planning under the conditions of macroeconomic and geopolitical instability

Introduction. Under the influence of external limitations, Russian precious metals market faced new threats and challenges. Metallurgical companies have been forced to re-engineer aff ected business processes. One of the main tasks is to reassess their approach to sales planning. Theoretical analysis. High market volatility triggered by increased macroeconomic and geopolitical risks causes price bubbles. Bubbles have a negative impact on the market because they produce serious deviations from fundamental levels. There is a defi nite connection between negative news and bubbles growth. Empirical analysis. Precious metal prices showed high volatility in 2022. The analysis revealed at least one palladium price bubble formed during March. In the face of increased uncertainty, the main sales objective was to sell as much of the production as possible, which most metallurgical companies have coped with. Results. In order to develop sales planning under constraints, a combined approach is proposed that gives minimal deviations from average prices and reduces bubble probability. It is worth using econometric models for the early identifi cation of price deviations from its fundamentals. It is necessary to encourage the regional trading hubs of precious metals.

Digital technologies in the sphere of health care as a way to ensure the quality of human capital

Introduction. The article considers the relevance of the digital technologies introduction in healthcare organizations, accelerated by the coronavirus pandemic. The purpose of the publication is to clarify the role of digital technologies in the healthcare sector for solving applied problems and ensuring the quality of human capital as a factor of the sustainable development of the economy. Theoretical analysis. A review of Russian and foreign publications on the subject of digitalization in the field of healthcare is given. The problems of digital health are highlighted. The directions for the introduction of digital technologies in the domestic healthcare system based on the technologies of mobile healthcare, electronic medical records, medical analytics, telemedicine, and artificial intelligence systems are presented. The study is based on the analysis of statistical data on the federal districts of Russia. Results. The results of the study made it possible to identify the limiting factors for the introduction of digital technologies in healthcare organizations in Russia, to clarify the importance of digital technologies for ensuring the quality of human capital. Conclusions. The results and conclusions of the article can become a theoretical platform for further research to advance healthcare towards the implementation of the digital maturity model and the widespread use of digital technologies for the provision of medical care and services in the healthcare system.

International Experience of Public-Private Partnerships for Development Investment of Innovation

The review of international experience organizing public-private partnerships in the development of investment processes of innovation are made in this article. It focuses on key trends in this area, analyzed the basic tools and support mechanisms for innovation in PPP projects in developed countries and their actual using in Russia, stated the key areas of decision development problems of public-private partnership in the area of innovation.

About Passage to the Principle of Effective Budgeting in Russia

The article is devoted to the budgetary reform in Russia. The author is examined questions of passage to the medium-term budget planning, shaping of state (municipal) job for the noncommercial establishments, realignment of the network of public institutions, formation of program budget. For example to Saratov region and the city of Saratov are given the positive aspects of the conducted changes in the budgetary sphere and their problematic moments.