Improvement of the Composition and Structure of the Board of Directors in Russian Corporations

Introduction. For a long time, the board of directors of Russian corporations had a formal character, manifested in weak interpersonal relations between council members and in a formal approach to performing functions prescribed by Russian law and the Corporate Governance Code. The cause of formalism was the merging of property and management in Russian business, namely, the formation of a model of insider capitalism, as well as the general misunderstanding by the owners of the functional of the board of directors. These processes affected the formation of boards of directors from representatives of majority shareholders and government officials, which does not meet the requirements of the International best practices of corporate governance. The need for effective management, as well as the processes for companies to enter the international market, have become factors in the activation of boards of directors.

Theoretical analysis. In the course of the article, the composition and structure of the boards of directors of domestic companies are analyzed in the dynamics. An analysis is carried out for the presence of independent directors in the boards, their share ratio. The statistical data characterizing the dynamics of the structure of the soviets are also considered: the presence of appropriate committees in them. The analysis is conducted on the correspondence of the current state of the composition and structure of the boards of directors of Russian companies to the requirements of the Corporate Governance Code. Special attention is paid to these characteristics in non-public companies.

Results. The analysis made it possible to draw conclusions about compliance with the necessary requirements for the composition and structure of boards of directors in Russian companies. But the quantitative and structural characteristics of this institution are not sufficient for its full functional. Therefore, the article provides recommendations on the quantitative content of the board of directors, as well as the principles for the formation of committees of the board of directors, based on the need to address certain issues.

Statistical Basis of Management Decisions for Improving Innovation Effectiveness in Solving Higher Education Problems

Introduction. The article presents some results of the collaborate work of the basic chair of the fundamentals of mathematics and informatics of Saratov State University and the basic organization – the Lyceum of Mathematics and Computer studies for the development of administrative decisions for increasing of training efficiency of experts-mathematicians.

Theoretical analysis. It is assumed that the educational problems arising with first-year students are related to the lack of continuity between the levels of education. This can be caused both by the individual characteristics of the students and by school background specifics.

Empirical analysis. To determine the presence of the problem of education “discontinuities”, the results of entry examinations and three exam periods of the first and second year students were subjected to statistical analysis. To reveal its causes, the results of a questioning of the first-year students of the Faculty of Mechanics and Mathematics of Saratov State University and students of graduation classes of the Lyceum of Mathematics and Computer studies were analyzed by statistical analysis to identify the problems of adaptation of first-year students.

Results. Management decisions and organizational measures taken to eliminate the identified problems associated with the problems of school background are given.

Econometric Modelling of Influence of Factors on GDP of the Post-Soviet Countries

Introduction. The processes proceeding in turbulent economy demand continuous monitoring and the analysis, it is possible to refer to those safely formation of gross domestic product in the Post-Soviet countries. A set of external and internal factors exert impact on this formation of this indicator, it is possible to measure this influence perhaps having resorted to econometric methods.

Theoretical analysis. As a method of identification and measurement of dependence between variables the correlation and regression analysis is used, also in the course of the research we addressed tabular and graphic methods.

Empirical analysis. The carried-out analysis of reaction of GDP on political and socio-economic factors, allows us to draw a number of conclusions: first, it is possible to state coinciding reaction of economy of the considered countries, on the crisis situations caused by political decisions (collapse of the USSR) or economic factors (world crises of 1998 and 2009); secondly, drift of set of factors of the Post-Soviet countries exerting impact on GDP (per capita) is observed; thirdly, the more time passes from the beginning of market reforms, the values of macroeconomic indicators of the countries which entered the European Union differ from other Post-Soviet countries stronger; fourthly, in all four time slices, agriculture makes the constraining impact on economic growth, and the farther from 1991, the influence of such factor as the index of human potential is shown stronger that indirectly indicates preparation for transition to digital economy.

Results. Econometric modeling of difficult economic systems, in the conditions of turbulent economy is rather difficult task and it is necessary to approach it with extra care, considering all features of the Post-Soviet countries. In the research we made an attempt to create such econometric models, the received results can serve as a starting point in further researches, and the revealed regularities make a certain contribution to the theory of transitional economies.

The Mechanism of Formation of Labor Motivation of Employees

Introduction. The system of motivation of employees, based on the system of personnel management and organizational culture needs to involve personnel potential of the enterprises in the decision of key problems of development of economy and society. In the context of modernization of production and the need to expand the practice of innovative projects increases the importance of creating an established mechanism of formation of labor motivation of workers in enterprises.

Theoretical analysis. The purpose of the paper is the identification of the factors that affect the labor motivation of workers in modern conditions most. In the study of the formation of labor motivation factor analysis was applied. Factor analysis as a method of research allows to determine the relationship and interdependence of the elements of the personnel management system with the production management system in the enterprise in terms of more complete involvement of employees.

Result. The article presents the mechanism of formation of labor motivation of employees of the enterprise as a factor of increase of competitiveness of the enterprise. The duality of perception of the motivation system by the employee and the enterprise is manifested in different attitudes to the motives and incentives of work, evaluation and results of work, values of organizational culture. The duality of perception is taken into account in the author’s mechanism of formation of labor motivation of personnel. Conclusion. Joint development allows to increase the competitiveness of the enterprise and labor productivity.

Cluster Approach in the Development of the Service Sector: The Regional Dimension

Introduction. Nowadays, clusters in the service sector formation becomes one of the characteristics of the Russian economy region development. In accordance with The Federal Aim Program for the period from 2011 to 2018, the Saratov region is not among the federal subjects which were included in the program of federal funding assistance to promote the creation of clusters in the service sector. Despite this, we consider the possibility to discover such cluster (emerging cluster or developed one) in the territory of the Saratov region. Theoretical analysis. The “complex” and “cluster” concepts have been investigated at theory chapter of this article. We make critique of the authors who have being confused these two different concepts. Also, we recommend that substitution and the same identification of these two concepts should not be allowed. In addition, there is the clusters in the service sector classification according to the core presence and the localized connection in this article. Empirical analysis. The article presents analysis of the Khvalynsk cluster in the service sector formation and the perspectives of its development. It have been proved that the Khvalynsk cluster is a nuclear- product one. Khvalynsk ski resort can be considered as the core of this cluster. However, Khvalynsk district possesses all the requisites and characteristics to turn from the product cluster into the territorial cluster, based on two cores, the winter cluster and the summer one. A set of measures to promote the Khvalynsk cluster in the service sector has been proposed in the article. Among these measures are the following ones: unique brand creation; the Khvalynsk district events as an instrument for promotion, Internet technologies application; transport infrastructure development. Results. The implementation of the proposed measures would be contribute to the realization of the potential of the Khvalynsk district as well as the creation of all-seasons cluster with the winter core (Khvalynsk Ski Resort) and the summer core (the complex of excursion and beach recreation facilities).

Spatial Panel Analysis of Fertility and Life Expectancy in Russia

Introduction. Spatial aspects of most important demographic indicators (fertility and mortality) need further studies. The purpose of this work is to assess the impact of spatial effects and external factors on the level and dynamics of the total fertility rate and life expectancy in European Russia. Theoretical analysis. Total fertility rate and male/female life expectancy made use of depended variables. Three variants of spatial weight matrices were chosen: inverted weights matrixes (γ = 1 and γ = 2) and gravity economic weights matrix (with GRP as economic indicator). Empirical analysis. The analysis based on the panel data for 55 Russian regions in 2004–2015 (660 observations). The hypothesis of available of spatial lag verified through Moran’s I. Three empiric models estimated and compared: spatial autoregression model, model with exogenous variables and spatial Durbin model. Results. This study proved the existence of spatial effects for both dependent variables. The best results showed herewith fixed effect models with inverted weights matrix. Spatial Durbin models (with relative capacity of ambulances as independed variable) has optimal level of log-likelihood.

The Rating Method of Complex Socio-Economic Development of Municipalities in Russian Regions

Introduction. Municipalities of the Russian Federation as well as Russian regions face the socio-economic development inequality at present. The study of the socio-economic situation at the level of municipalities and the complex socio-economic development rating estimation meets the needs of local governments. Theoretical analysis. The complex municipal socio-economic development rating method has been developed in the research at comparison of the main approaches to socio-economic territories’ ratings. The main methods of economic rating of the territories were analyzed and advantages and deficiencies of each were defined. The use of the integrated rating assessment method was substantiated in the article. Empirical analysis. The method of complex rating evalution has been proposed in the research. The proposed method Управление 313 is based on private ratings, which are estimated by the relative indicators that characterize economic development, investment activity, social sphere development and the standard of living of the population. Results. The approbation results of the offered method are presented. Private ratings of socio-economic development of municipal areas in the Saratov region were calculated and an integral rating of complex socio-economic development of these municipalities in 2017 was estimated. Discussion of the achieved results is presented.

The Statistical Analysis of Differentiation of The Post-Soviet Countries During Transformation of Economy

Introduction. Process of transition of fifteen countries of ex-member of the USSR from planned economy to market, was followed by basic changes in political, economic and social life of society. Various approaches to the undertaken reforms, and opposite strategic objectives, cause the distinctions of economies of the Post-Soviet countries observed now. Theoretical analysis. Works of many domestic scientists are devoted to a problem of the analysis of results of the period of transition of the Post-Soviet countries to market economy, they divide set of the Post-Soviet countries on the basis of various grouping signs, but along with advantages of these researches it is necessary to point to one essential shortcoming contributing a subjectivity share in the received results, it is high-quality approach to formation of groups. It causes need of application of quantitative approach and first of all multidimensional group. Empirical analysis. As a result of application to fifteen Post-Soviet countries of multidimensional group (more precisely than the cluster analysis) it has been established that in entire four reference periods (1991, 1999, 2009, 2015) three groups are allocated, at the same time in the last three periods a ratio and fullness of groups it is identical that points to stabilization of set. The first group had included the countries with impressive natural and human resources, the second the republics which have changed polarity from Russia with the European Union, the USA and China. The third group is formed by the Baltic States which were a part of the European Union and at the expense of it have considerably increased a separation from other Post-Soviet countries that is substantially shown in such indicator as GDP per capita. Conclution. Quarter of the century of development of the Post-Soviet countries out of the Soviet Union was led to their considerable deformation on the level of political and social and economic development. The republics which had good positions on the natural and human capital at the beginning of transition that it has allowed them to be integrated into global economy have achieved considerable progress. The Baltic States which were a part of the European Union and substantially, the improved macroeconomic indicators are also obviously allocated.

Cross-Country Analysis Influence of Banking Credit on Economic Growth

Introduction. The aim of the work is to econometrically study the impact of bank lending on economic growth rates on the basis of cross-country comparisons based on average data for 2005–2015. Theoretical analysis. In the article it is proposed to use the Schumpeterian model of convergence between countries with financial constraints, which was improved in [1] to analyze the influence of bank lending on economic growth. Empirical analysis. Based on the improved Schumpeterian model of convergence between countries with financial constraints, an econometric modeling of the impact of bank credit on economic growth was conducted for three groups of countries with a high, medium and low value of the human development index. Results. Empirical cross-country studies have confirmed the ambiguous impact of bank lending on economic growth in countries with different levels of socio-economic and financial development. In countries with high HDI values, the direct channel of the impact of bank lending on economic growth has been insignificant, and the convergence of growth rates has been achieved mainly through the process of technology transfer and increased production efficiency. In countries with an average HDI, lending has a direct positive effect on growth rates, but does not increase the likelihood of convergence through a more developed financial system. In countries with a low level of development, the only significant factor is investment in fixed assets. The indirectly obtained results show that only an investment credit for the development of the real sector of the economy, and not all credit in general has a positive impact on economic growth.

Formation of an Entreprenurial University in the National Innovation System

Introduction. Recently, the market of educational services is growing and for viability, the university needs to increase its competitiveness, expand the boundaries of its activities, develops its potential. Theoretical analysis. A number of scientists with different visions of the process of generating knowledge worked on the understanding of the role of the university in the economy, thus several theoretical models were developed in which the phenomena of the entrepreneurial university are disclosed. Empirical analysis. In connection with the absence at the time of the developed system of indicators for assessing the entrepreneurial potential of higher education institutions, a methodology for a comprehensive assessment of entrepreneurial potential was proposed, taking into account the indicators of the six main potentials of the university, which allows to determine how effectively they realize their opportunities and use their own resources to implement the entrepreneurial Function. According to the proposed methodo logy, the entrepreneurial potential of four Saratov universities was assessed and conclusions were drawn. Results. On the example of the Yuri Gagarin State Technical University of Saratov. Recommendations are developed to improve the organizational structure of the university as an entrepreneurial institution on the basis of the proposed list of entrepreneurial functions and structural and functional analysis of the university. Measures have been developed to develop the entrepreneurial activity of the university in the national innovation system.