Mutual Trust as a Booster of Credit and Investment Activities of Banks and Development of Small Industrial Firms
Authors: N. E. Egorova ; A. M. Smulov ; E. A. Koroleva
Pages: 1-7
DOI:
doi.org/10.32861/jssr.spi3.1.7
Abstract
The article proves the importance of boosting the level of trust in the interaction between small industrial businesses and banks. The problems in the relations between these economic entities in Russia have been identified and the ways of solving them by moving to a partnership-based model of cooperation of banks with small enterprises have been outlined. The defined model of cooperation is based on the adaptive credit and investment consulting (ACIC) method proposed by the authors. This method assumes mutual trust between the economic agents that appears while ensuring complete transparency of information among the participants of credit transaction. It also assumes their interest in long-term and sustainable relations and adaptation of the services provided by the bank to the certain economic condition of a small firm. It is shown that the implementation of ACIC in the practice of bank’s lending to small enterprises will ensure an increase in the level of mutual trust between them and boost their credit and investment activities. The work reviews and classifies methods for quantifying the level of trust between various economic entities; a synthetic index that measures the level of trust between banks and small industrial enterprises is developed; and a methodology for an approximate estimation of the economic effect of the ACIC application is proposed. The results of the study can be adapted for the conditions of other countries with similar problems in the interaction between banks and small firms.
Methodological Techniques for Assessing the Unevenness of Economic Development in the World
Authors: Irina Nikolaevna Abanina ; Elizaveta Valentinovna Ogloblina ; Nataliya Nikolaevna Drobysheva ; Maria Igorevna Seredina ; Konstantyn Anatolievich Lebedev
Pages: 8-12
DOI:
doi.org/10.32861/jssr.spi3.8.12
Abstract
This paper is devoted to developing a set of approaches to assessing the unevenness of economic development in the world. Based on the theory of competitive advantage, the authors propose an integrated indicator of competitiveness that divides nations’ economic development into various stages. The research attests that, based on the integrated indicator of competitiveness, the level of technogenic development of countries coincides with their level of overall development. In today’s conditions of internationalization and globalization of production and capital, this kind of methodology for assessing indicators of national economic development, and, accordingly, the country’s place in the international arena, has proven to be quite effective, with the integrated indicator of competitiveness taking account of various approaches and factors. It was proven that countries, the economic development of which is between any of the stages are to be regarded as countries with the transitional economy.
Concepts of "Freedom", "Power" and "Leadership" in the Arabic Folklore as an Archetypal Element in Political Culture of the Middle East
Authors: Enesh Kurbanseiidovna Akhmatshina ; Yafia Yousif Jamil Hana ; Amaliia Anatolievna Mokrushina
Pages: 13-21
DOI:
doi.org/10.32861/jssr.spi3.13.21
Abstract
This article presents a critical analysis of such archetypal concepts as "freedom", "power" and "leadership" in the Arab-Muslim folklore.The authors of the article have conducted a structural and semantic analysis of proverbs using conceptual, comparative-historical and anthropological methods and studied significant fragments of Mağma ‘al-’amṯāl (collection of proverbs dated back to the 12th century) compiled by the well-known Muslim linguist al-Maydānī. They have distinguished a special group of proverbs that reflect an attitude to power, personal freedom, the leader’s authority and other social culture-bound concepts typical of the pre-Islamic and Arab-Muslim medieval civilization. This study is crucial since it enables to identify prototypes of the modern Arabic political culture based on archetypal elements of the collective mindset.
Financial Knowledge, Debt Literacy and Over-Indebtedness
Authors: Nur Hafidzah Idris ; Melissa Faisal Wee ; Shafinar Ismail ; Khairunnisa Abd Samad
Pages: 22-29
DOI:
doi.org/10.32861/jssr.spi3.22.29
Abstract
Malaysia is a country that aims to become a high-income status nation by 2020. Though, Malaysia currently is facing with over-indebtedness problems, an increasing trend in consumer loan demand, high household debt-GDP ratio, and also with a high number of bankruptcies. With regards to these issues, therefore this study is conducted to investigate the causes of over-indebtedness, specifically among the young generations. This study applied a face to face survey and interviewing eight young workers in one of the public universities in Malacca, Malaysia. The results indicate that low in financial knowledge and debt illiteracy are not the causes of over-indebtedness for the sampling frame. An individual with a good financial knowledge and debt literate, also associate with a high debt and over-indebtedness. Moreover, home and car loan are the dominant contributors for individual over-indebtedness, due to the perception that home and car are the needs in today’s life. These findings had brought a new dimension in exploring on the causes of over-indebtedness, where research on over-indebtedness should not only focus on the linking of financial literacy (financial knowledge and debt literacy) with consumer debt, but then should consider other contributing factors that give effect to individual over-indebtedness. It is hoped that this study may perhaps give benefits to regulatory bodies in formulating policies related to consumer debt in realizing the government’s intention to become a high-income status nation by the year 2020.
Innovative Pedagogical Activity in the Context of Humanitarization of Education in the Information Space: Main Directions and Prospects
Authors: Ekaterina M. Akishina ; Lyubov G. Savenkova
Pages: 30-39
DOI:
doi.org/10.32861/jssr.spi3.30.39
Abstract
The purpose of the article is to reveal the conceptual attitudes and effective directions of humanitarization of Russian education in the contemporary conditions of the information society. The article summarizes the materials of research and scientific-practical activity in the framework of the project “Humanitarization of education in the context of social and cultural space development of the region” conducted in a number of educational institutions of Moscow. It is shown that the humanitarization of education is possible under the condition of creating a favorable socio-cultural educational environment, which includes a set of techniques and methods of pedagogical support and integrated forms of new knowledge acquisition. It is determined that innovative pedagogical activity in the context of humanitarization of education actualizes the problem of creation of such practices which are consistent with the ideas of dialogization, natural conformity, and cultural conformity of the educational process. The article substantiates the mechanisms for increasing the productive innovative educational activities and presents a comprehensive model of the organization of innovative pedagogical activity for interaction of educational organizations with the extensive network of social and cultural organizations of the city aimed at overcoming the formal, abstract character of training, as well as integrating educational process into a wide cultural space. The article provides examples of didactic support for the implementation of the suggested model: the humanitarian technology for creating a dialogue space of the class. The authors generalize the basic directions of personal development, which are activated in the conditions of humanitarization of the educational environment based on innovative pedagogical activity and carry out the analysis of students’ development dynamics based on the selected criteria of the educational environment formation in the organization and the professional development of the teaching staff.
Modeling of Structural and Institutional Factors of Development in Regions Unfavorable for Agriculture
Authors: S. A. Andryushchenkо ; M. Ya.Vasilchenko ; Е. А. Derunova ; V. N. Rubtsova ; I. N. Sharikova
Pages: 40-43
DOI:
doi.org/10.32861/jssr.spi3.40.43
Abstract
The paper aims to assess the influence of structural and institutional factors on agricultural development in the regions where rural areas are qualified as unfavorable for agriculture by the government of the Russian Federation. The discussed factors particularly include rural unemployment, sectoral structure of the regional economy and agriculture, and forms of ownership of food producers. The proxy used as a gauge of regional agricultural development level is the output per person employed in the sector of "agriculture, hunting and forestry" as it is defined for statistical purposes. The application of economic and mathematical methods of analysis helped to create a set of regression models, which showed several distinctive geographical groups among the unfavorable regions. Each group of regions calls for specific individual strategies of transition to sustainable development of the disadvantaged agricultural territories.
Trends in Developing Financial Innovations in the Course of the Economic Development in Russia
Authors: Tolendi Ashimbayev ; Sarkyt Tashenova ; Yevgeniy Sadvakassov ; Alma Karshalova
Pages: 44-51
DOI:
doi.org/10.32861/jssr.spi3.44.51
Abstract
This article is devoted to studying trends in developing financial innovations in the Russian Federation, which represent implementation and promotion of the financial system with improved financial products, services and new processes to create a new financial structure, which ultimately accelerates the sustainable economic growth. The results obtained during this study show that four most promising segments can be identified in the long-term run, which should be taken into consideration while planning the development of financial innovations: payments and remittances, alternative financing, insurance and capital management. In Russia, the development of the above segments will depend on the creation and effective functioning of its financial technological (FinTech) ecosystem. This may be achieved by developing technologies and increasing demand for new services and innovative financial products through a set of measures aimed at providing capital to financial innovation companies, as well as improving the regulatory environment and developing human intellectual capital. This study has identified key initiatives that should be implemented to support the development of financial innovations and FinTech segments in Russia.
Corporate Influences and Financial Reporting Quality in Pre- and Post-Adoption of the Malaysian Financial Reporting Standards
Authors: Azleen Shabrina Mohd Nor ; Nahariah Jaffar ; Zarehan Selamat ; Salmi Mohd Zahid ; Norhazlin Ismail
Pages: 52-60
DOI:
doi.org/10.32861/jssr.spi3.52.60
Abstract
In Malaysia, corporate influences on financial information have received a great attention by the stakeholders since it represents board of directors’ accountability. Board of directors communicate the financial information through the corporate financial reports. However, the corporate influences on improving the financial reporting quality have been under investigated, particularly with the adoption of the Malaysian Financial Reporting Standards (MFRSs). This study examines the corporate influences on the financial reporting quality in pre- and post-adoption of the MFRSs. Specific corporate influences indicators examined in this study are board of directors’ independence, board size, frequency of board meeting, financial literacy of board members, board directorship, board change, managerial ownership and directors’ remuneration. Data were collected on 456 companies listed on the Bursa Malaysia. The results indicate that there is no significant difference in the means of financial reporting quality in the pre- and post-adoption periods of the MFRSs. In addition, it was found that only board of directors’ independence has the significant effect on the financial reporting quality in the post-adoption period of the MFRSs. This study contributes to the financial reporting quality literature by means of examining the role of governance mechanism, in the pre- and post-adoption of the MFRS.
Implementing the Principles of the Social State in Tax Law within the Context of the Digital Economy
Authors: Olga Yuryevna Bakaeva ; Eugeniy Gennadyevich Belikov ; Elena Vacheslavovna Pokachalova ; Vasily Valeryevich Popov ; Margarita Byashirovna Razgi
Pages: 61-66
DOI:
doi.org/10.32861/jssr.spi3.61.66
Abstract
The article deals with the specific features of implementing the social state principles in the tax law of Russia and other countries, first of all, the European Union, within the context of the digital economy development. In particular, the article focuses on the manifestations of the principles of social justice and social and economic equality in forming and implementing the state tax and legal policy, including during the periods of economic crises. The following methods were used in the research: the statistical and comparative legal methods, as well as the method of legal modeling implemented in applying the general theoretical model of using legal means in tax and legal regulation. We made the conclusion that tax, and legal stimuli were the most important social- and innovation-oriented legal means in implementing the state tax and legal policy within the context of the digital economy. Besides, developing the stimulating function of taxation will encourage further implementation of citizens’ social and economic rights and innovative activity in the age of digitalization.
Problems of Accounting and Reporting of Small Agricultural Businesses in The Republic of Kazakhstan
Authors: Nesipkul Bayboltaeva ; Abdizhapar Saparbayev ; Aygul Ismailova ; Aiymzhan Makulova ; Aliya Imatayeva
Pages: 67-75
DOI:
doi.org/10.32861/jssr.spi3.67.75
Abstract
At the moment, small agricultural businesses operating in the Republic (limited liability partnerships, production cooperatives, peasant (farming) economies) need a more efficient regulatory framework regulating the organization of accounting and reporting according to their specificity. Their accounting should be simple, but at the same time it should allow obtaining complete and reliable information about ongoing processes in their current economic activity to operationally manage these processes. The article shows the study results, stipulates the reasonability of applying the simplified accounting and reporting model. It is shown that these problems can practically be solved by developing certain accounting registers and financial reporting forms that meet the requirements of the national legislation and allow most fully taking into account the economic activities of small agricultural businesses.
On the Issue of the Perspective Directions of the Science-Driven Production Development in Russia
Authors: Anna Geroldovna Bezdudnaya ; Tatiana Yurevna Ksenofontova ; Yuliya Ivanovna Rastova ; Gerold Alecsandrovich Kraiukhin ; Aleksandr Sergeevich Tulupov
Pages: 76-80
DOI:
doi.org/10.32861/jssr.spi3.76.80
Abstract
The revealed managerial capabilities of prospects to develop the modern production facilities’ potential in order to ensure flexibility and adaptability to the growing demands from the market and consumers allow to propose a system of general assumptions in the methodology for managing science-driven high-tech production. Focus on the accelerated implementation of science-driven projects, possibility of improving technological processes and products to create competitive advantages of Russian products, which in turn will lead to the neutralization of threats and the development of modern management of science-driven high-tech industries, are an incomplete list of arguments in favor of changes in the existing system of strategic management of industrial enterprises in Russia. At the same time, it must be noted that the introduction of processes to improve the system of strategic management at Russian industrial enterprises has been severely limited in time since the gap in the pace of innovation and competitiveness between enterprises in Russia and developed countries is increasing.
Administrative and Procedural Mechanism of Interbudget Lending as A Method of Budgetary Sustainability
Authors: Ekaterina Alexandrovna Bochkareva ; Svetlana Valerievna Kozhushko ; Majram Artashesovna Kosjan ; Kamil Shamilievich Khamidullin
Pages: 81-84
DOI:
doi.org/10.32861/jssr.spi3.81.84
Abstract
The goal of the article is to make a theoretical and legal description of the administrative and procedural mechanism of interbudget lending for subjects of the Russian Federation as a method of budgetary sustainability. This mechanism is considered as a set of two subsystems that combine normative modes of lending to regions. The first subsystem is lending to partially cover deficit in the Russian subject’s budget. The second subsystem is lending to replenish the balances of funds on the accounts of the Russian subjects’ budgets. The stages of managerial activity of authorized federal bodies and public authorities of Russian subjects in the area of interbudget lending, as well as the purpose of this activity are defined. Such methods of study as analysis, synthesis, comparative-legal and statistic have been used.
Assessment of the Effectiveness of Social Management in the Region
Authors: Yuliya Mikhailovna Bolshakova ; Tatiana Alexandrovna Fedorova ; Valery Grigoryevich Zarubin ; Viktoria Nikolaevna Lavrikova ; Anastasia Alexeevna Semenova
Pages: 85-90
DOI:
doi.org/10.32861/jssr.spi3.85.90
Abstract
The paper deals with the problem of scientific discourse about social management and the need to monitor the social sphere. The paper states the need for monitoring the social sphere on the basis of sociological analysis. The monitoring of the social sphere is an important component of the quality of public administration and local self-government. The results of the study demonstrate the change in the quality of life of the Northern regions of Russia in the conditions of transformations of public institutions, the importance of socio-cultural identities, the level and quality of life. The research task was focused on the economic evaluation of the social well-being of the population of the Komi Republic, the social positions of the Komi and Russian ethnic groups regarding the economic crisis and its consequences for the economic and social spheres of the region. Currently, the social management of the region largely depends on the formal and informal relations of public authorities and corporate business. The Republic of Komi is a stable social and territorial community, according to ethnic, religious and other reasons. Despite socio-economic difficulties, every fifth respondent estimates interethnic relations in the republic as good ones. The research shows a direct connection between the assessment of the socioeconomic situation and the mood of people. The financial standing of the respondents is also directly dependent on education: the lower the educational level, the lower the incomes and financial standing. The analysis shows that the young generation (18-34) is the most optimistic about the social and economic situation in the region and more likely to believe that the mood of people and the social well-being of citizens have improved in recent years.
Overview of Psychological and Pedagogical Techniques Used to Facilitate First-Year Economics Student Adaptation
Authors: Alla Georgievna Dmitrieva ; Marina Gennadievna Fedotova ; Kira Borisovna Prigozhina ; Elena Valentinovna Stolyarova
Pages: 91-96
DOI:
doi.org/10.32861/jssr.spi3.91.96
Abstract
The article is dedicated to a multi-stage research focused on implementation of psycho-pedagogical approach contributing to positive and smooth adaptation of first-year students to university studies at the Foreign Language classes in a new study group. Factors providing such adaptation and integration are determined. Selected techniques aimed at development of intragroup relations and roles, as well as at stimulating educational and cognitive process are observed. Unstandardized interviews with the students of one study group who joined the research as participants on volunteer and anonymous basis, proved to be the best research tool at the initial stage of observation. Among the findings there are the vitality of trust-based relationships between students and a teacher, as well as teacher’s concerns in students’ academic achievements and soft skills. During the first academic year two more stages of the research were held. The first of which involved use of selected teaching methods and patterns facilitating personal integration of students into the group work. Namely, preparation and making solo and small-group presentations on various topics within the curriculum; intra- and inter-group conferences, contests and panel discussions on the selected topics. The final stage is dedicated to collecting the results of adaptation by two psychological techniques - Composite Roles and Group Cohesion Index. Among the results of the research we can emphasize the utmost importance of joint work with groupmates at curricular and extracurricular events, creating conditions stimulating all students work as a complete whole pursuing similar goals and sharing similar values- the activities permitting complete integration of student beginners to successful learning.
Determinants of Real GDP in Malaysia
Authors: Emilda Hashim ; Norimah Rambeli@Ramli ; Nurhanani Romli ; Norasibah Abdul Jalil ; Syazwani Mohd Bakri ; Ng Woan Ron
Pages: 97-103
DOI:
doi.org/10.32861/jssr.spi3.97.103
Abstract
Every country around the world has regarded its Gross Domestic Product (GDP) growth as extremely vital in order to pursue continuous development and advancement needed for its nation. Thus, this paper aims to examine the relationships between five macro variables, particularly, population, gross fixed capital formation, labor force participation, government expenditure on health and education, and real GDP in Malaysia. Accordingly, this study employs annual time series data from 1987 to 2016. The analysis is then explained in terms of two categories, economic and statistical criteria. The findings reveal that population and gross fixed capital formation are positively related to GDP. Therefore, they are important factors in explaining higher GDP. Meanwhile, the other factors do not essentially contribute to GDP growth and negatively related to each other, respectively. Based on the result, other variables should be added in the future so as responsible parties and authorities could have taken steps or implement strategies to ensure the stability economic growth are achieved. In addition, future study should touch on the econometric criteria such as OLS regression and Granger causality study into its discussion for more elaborate and in-depth findings.
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