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Russian Journal of Industrial Economics

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Vol 17, No 2 (2024)
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INDUSTRIAL MANAGEMENT

115-127 396
Abstract

The article presents the analysis of the contemporary theoretical and empirical research devoted to evaluation of the effectiveness of mergers and acquisitions by means of short-term event analysis method, managers’ motivation in making decisions on the acquisition of other companies from the perspective of the timing of the expected effect; it adduces and systematizes the limitations of the cumulative abnormal returns (or CARs) method. The authors carry out scientific synthesis of the limitations of the method of capabilities of accurate prediction of the final results of transactions. In particular, the following problems of the CARs method have been identified: determining the date of the event, determining the event window, inconsistencies in research results, outflow of funds from purchasing companies during mergers and acquisitions, arbitrage trading strategies, the lack of long-term predictive value of the method of accumulated excessive profitability, efficient market hypotheses, overcharging of the purchasing company shares.

The authors have made a conclusion about possible inaccuracy of the method if used to evaluate the effectiveness of mergers and acquisitions.

Environmental economics

128-137 309
Abstract

In recent years, international coal markets have been facing a trend of a growing number of sharp price fluctuations during a year. This can be regarded as the evidence for the increasing intensity of market competition as well as for the growing number and significance of the external environment factors affecting the world coal market. Actually, the coal market players have to operate in the conditions of unstable prices and external limitations that in their turn require searching for new sales markets, changing logistics routes, product lines, production and technological processes, etc. It results in the increasing significance of dynamic capabilities of coal companies – organizational capabilities on changing the portfolio of resource and capabilities in response to the changing competition at the market. In the conditions of growing volatility of coal markets the adaptation capabilities of a company become a basis for its economic effectiveness and competitiveness as well as for the viability as a whole as it allows to accelerate the process of making decisions about the necessary transformations and evaluate the risks, and are crucial for the implementation of new projects. Any activities on the evaluation and development of dynamic capabilities are possible only inside a company. This task should be solved at the strategic level of decision-making alongside with identifying the company’s individual priorities for development of organizational capabilities lying in the basis of dynamic capabilities of a company.

The article deal with the author’s definition of the basic categories of dynamic capabilities implemented for the coal industry. The definition presents the priorities for operation in the current conditions and the capability to transform and accept new business-models, develop analytical capabilities and skills of acquisition and alliances with other companies.

NATIONAL INDUSTRIAL ECONOMICS AND STRATEGIES

138-145 1234
Abstract

The article analyzes the challenges and threats of emergency periods. The objectsubject area is the field of the impact of emergency periods on economic sustainability and quality of life. The purpose of the work is to substantiate the strategic possibilities of an optimistic orientation of strategic management at the state level to overcome emergency periods. The priority tasks are defined: 1) identification of strategically oriented challenges of emergency periods; 2) analysis of the negative impact of the emergency period and new opportunities for society and its national economy; 3) identification of the boundaries of the stages of the emergency period; 4) justification of the economic content of strategic public administration in the emergency period. Methods of work: discursive retrospective analysis within the framework of a qualitative approach to the economic study of emergency periods. The scientific work was carried out on the basis of the general theory of strategy and methodology of strategizing by V.L. Kvint, as well as the theory of industrial organization by Jean Tirol. It is concluded that emergency periods pose serious challenges, but they can also stimulate development and changes that contribute to improving the infrastructure and structure of the economy in the long term. Scientific and practical significance: the time frame of 3 (three) stages of the emergency period is justified, the main content of strategic public administration in the emergency period is developed and proposed. The scope of application of the results obtained: federal and regional authorities and administrations of the Russian Federation (Ministry of Emergency Situations, Ministry of Economic Development, Ministry of Construction, Ministry of Energy, Ministry of Labor, etc.).

146-155 509
Abstract

Strategic approach to the industry development planning is of crucial importance as it helps setting clear goals, determine trends, parameters and conditions for the industry growth. However, low effectiveness of individual industry strategies adopted, their constant adjustments unrelated to strategic orientation, development of “new” strategies duplicating previous documents without meaningful analysis, poor performance discipline on the realization are the evidence of in effectiveness of the methodological approaches used. To cope with the above-mentioned problems, it is essential to pay special attention to the issues of coordination of the interests of the parties which are directly or indirectly involved into industry strategizing. This will ensure finding a balance between the needs and objectives of different participants affecting the success of implementing industry strategies.

The purpose of the study is to consider the peculiar features of industry strategies as the objects of strategizing of the “middle” level, and to identify the mechanisms of harmonization of the interests on the example of the timber industry complex of Russia.

A strategy creates the common value for the parties involved into its development and implementation, including government agencies, industry representatives, sectoral associations, local authorities and public organizations, educational and research institutions. The article deals with the range of issues that are subject to agreement between the participants of “middle” strategies, reflect both the global agenda through state-level strategies, and take into account the interests of local communities. Recommendations suggested as a result of the study can be applied in the development of middle level strategies including sectoral and regional ones.

156-160 267
Abstract

The need for urgent mitigation of the consequences of dramatic emergency situations has been predominating in recent years. In response to unpredictable disasters organizations all over the world started to apply a number of breakthrough technologies by means of confusing response strategies. Publications lack appropriate information on the most effective methods of recovering from the economic crisis, so the decisions are chosen among new breakthrough technologies in the digital platforms systems. To complete the gap in the literature the article applies to the studying of the theory of economic crisis. The purpose of the article is to create a theoretical model based on the most effective breakthrough innovations in the digital platforms mechanisms through the lens of the analysis of the adaptive management model.

161-171 297
Abstract

The article deals with the analysis of data published by the Federal Service for State Statistics (Rosstat) regarding the whole Russia and regarding Moscow and presented in the form of the federal statistical observation No. 2-TP (waste) “Information on the formation, processing, utilization, neutralization, disposal of waste production and consumption”. The results of the analysis of the data adduced in the Rosstat report show that the situation with the separate waste collection, its processing and sorting for further utilization including recycling cannot be called satisfactory in Russia and its capital city. The author chooses Moscow to study the reasons and improve the situation. This is caused by the fact that the Rosstat data depict the average picture for the country as the nature conditions, the specificities of the people’s habitation and, consequently, the state of management of solid municipal waste in different regions of the country vary greatly and depend on the peculiar feature of each region. The author of the article studies the ways of solving the existing in the capital city problems connected with the need for improving the situation in the management of municipal solid waste. The most difficult segment from the viewpoint of growing volumes of waste disposal is non-rotting solid municipal waste, plastics, which are classified into two categories: recyclable and non-recyclable plastic waste. This segment has been chosen for the author’s study. Within the recyclable category the polyethylene packaging (PET containers) is identified as the most voluminous when collecting waste and as quite suitable for recycling among plastic solid municipal waste. The author calculates the proportion of PET containers in the generated municipal solid waste, indicates economic and environmental efficiency of packaging recycling and its return to production, and suggests optimal ways of collecting and delivering waste for recycling. The results obtained during the study has become the basis for developing the algorithm for the return to the production of municipal solid waste in PET containers.

172-182 478
Abstract

Studying global trends plays the key role in strategic management as it makes it possible to identify competitive advantages, reduces the risks and helps to determine the development trends in the long-term perspective. When establishing the strategic motivation system in a company, trend awareness encourages building an up-to-date and flexible incentive system. The purpose of the article is to identify and analyze global and national trends that affect establishing the strategic motivation system in accordance with the peculiar features of this system in high-tech industry organizations. As a result of the analysis conducted the author presents a list and a detailed description of global development trends affecting motivation that includes digitalization of workplaces and jobs, continuous learning, the predominance of “soft” skills over “hard” ones, obsolescence of some jobs and the emergence of new professions, gender equality, talent management in enterprises. The author has studied the impact of the trends on the strategic motivation system, the peculiar features of their manifestation and development in the conditions of the Russian economics with the emphasis on high-tech industries: microelectronics, aerospace engineering, pharmaceutical industry. The author also has concluded about complex interrelation of global and national trends both on the vertical hierarchical (global – national – sectorial) and horizontal hierarchical (the impact of trends on each other) levels, and about the applicability of the research results in establishing the strategic motivation system at the high-tech industry enterprises of the Russian Federation.

183-193 261
Abstract

The article analyzes 8 directions areas of digitalization that affect corporate strategizing in the heat-power industry, classifies this direction into demanded and prospective, and conducts an OTSW analysis of these directions and their features that have a significant impact on the development of the industry. The main objectives of the study were to study the strategic trend of digitalization in the context of the heat-power industry, analyze the application and relevance of the main aspects of digitalization in strategic public documents of heat generating companies in Russia such as PJSC “Gazprom Energoholding”, PJSC “T-Plus”, PJSC “Quadra”, and identify prospects and the problems they face in the context of the current level of digitalization. The main methodological school on which the research is based is the scientific school of strategy by V.L. Kvint.

The article emphasizes the important role of digitalization as one of the leading drivers of development of the heat-power industry and demonstrates examples of digitalization of operational processes of the heat generating companies. The OTSW analysis reveals negative characteristics of the digitalization trend, mainly associated with economic costs that limit its active implementation in the industry. The conducted research leads to the conclusion that digitalization is not only a trend, but also a global investment project for the heat generating companies and for the industry as a whole, stimulating investments increase in complex technological virtual and material systems and devices.

REGIONAL ECONOMICS REGIONAL ECONOMIC STRATEGIES

194-205 458
Abstract

Regions with significant natural resource potential play an important role in ensuring the energy and economic security of the Russian Federation. To maximize the effect of using resource potential, scientifically based and methodologically correct regional strategies must be developed. For these purposes, it is necessary to develop a concept for a strategy for the regional development of resource regions, for which it is proposed to use the strategizing methodology of a foreign member of the Russian Academy of Sciences, Professor V.L. Kvint. One of the first tasks when developing a concept is to identify a group of resource-oriented regions. To achieve this goal, the author’s definition of resource-oriented regions has been prepared, and based on an analysis of foreign and domestic practices, an algorithm for calculating the level of resource orientation has been proposed, based on 3 indicators: the share of mining in the gross regional product, the share of mining in the structure of regional employment and the degree of industry concentration. It is shown that for calculations using the proposed algorithm in terms of industry concentration, not only the Herfindahl–Hirmschan index can be used, but also the Shannon index, which is logically opposite to it, adapted for economic research.

The calculations showed that the group of resource-oriented regions can include the Nenets, Yamalo–Nenets, Khanty–Mansiysk and Chukotka Autonomous Districts, the Republic of Sakha (Yakutia), as well as the Magadan and Sakhalin regions – these regions best meet the proposed definition of a resource-oriented region and can become the basis for developing the concept of a regional development strategy.

206-214 620
Abstract

The article establishes strategic criteria for classifying regions (subjects) of the Russian Federation as subsidized. Improvement of the systems of allocation of budgetary funds and redistribution of financial resources ensures sustainable economic growth and improvement of the quality of life of the population. To identify the strategic criteria for classifying regions as subsidized the authors have analyzed the existing methodology of allocation of subsidies for equalizing budget security of the RF subjects. The list and the number of the regions classified as subsidized regions and donor regions did not significantly change in 2016–2022. Comparison of regions by such indicators as GRP and budget security before and after the allocation of subsidies proves that the existing system of support of subsidized regions is unable to ensure their economic growth and development. Strategic criteria for classifying regions as subsidized are established according to the theory of strategy and the methodology of strategizing by Academician Vladimir Kvint. When identifying strategic priorities of regional development it is essential to take into consideration the competitive advantages of each region. As well as the budgetary criteria, the authors define the strategic factors which have the greatest impact on the unchanged state of the group of subsidized regions: taxation potential, the development of the infrastructure, economic development, geographic development and social development. According to the proposed strategic criteria, financial resources will be granted for maintenance of the current state as well as for implementation of regional strategies, firstly, in the context of improving the quality of life of the population. Reasonable and effectively governed system of allocation of financial aid together with the system of establishing strategic criteria for classifying regions as subsidized are crucial for eliminating regional differences and promoting overall long-term socio-economic development of Russia.

BUSINESS ECONOMICS

215-222 659
Abstract

The article is devoted to the topical issues of the domestic industry. The authors consider the category of “the efficiency of economic activity” as a target landmark in the activity of an industrial enterprise. This landmark is a combination of parameters characterizing the accumulated effect level caused by the company’s improvement of the organization of operational process. The authors study the efficiency not as a leading objective of the company’s activity but as a result of its development strategy and within the framework of the strategy.

 Digitalization of a company’s business process is a tool which ensures creating conditions for improving the efficiency of an industrial company’s economic activity. The article determines the significance of digitalization in the industry for improving the efficiency of the company’s activity. And major attention is focused on the peculiar features of digitalization in the sphere of industry. The authors give grounds for its role in the activity of enterprises, pointing out that digitalization contributes to improving the mechanism of its regulation as well as provides for the company’s economic effect.

The purpose of the article is to study digitalization in the context of its impact on the efficiency of the economic activity of an industrial enterprise, and to consider the opportunities and challenges of digitalization of the industrial production sphere. In accordance with the purpose the authors have set the tasks connected with studying scientific categories of “the efficiency of economic activity: and “strategic development”, examining strategic issues of improving the efficiency of the activity of industrial enterprise, overviewing the peculiar features of digitalization of industrial production which determine the priorities for future development of the domestic economics.

The theoretical and methodological basis of the study includes scientific achievements of the scientific school of strategizing under the Lomonosov Moscow State University as well as scientific achievements of domestic and foreign researchers regarding the issues of improving the efficiency of economic activity of enterprises. To justify the results the authors use the combination of research methods and approaches of analysis and synthesis, comparison, generalization, scientific abstraction.

223-230 314
Abstract

The term “production capacity” has always been one of the most important in the theory and practice of production management of an engineering enterprise. In the current conditions the issues of determining and classifying production capacity of manufacturing enterprises are of particular significance. Possessing reliable data on production capacity of a manufacturing enterprise one can determine the production output and the equipment workload level, and run the available production facilities effectively. The reliability of the information essential for decision-making depends on the methodology of determining and classifying production capacity of manufacturing enterprises. The purpose of the study is to reveal the contents of the system of specific indicators of the term “production capacity”. To achieve the goal the author of the article studies the problems of evaluation of production capacity of separate manufacturing structural units and the entire company. The subject of the study is the principles and methods of classification of the indicators of production capacity of a manufacturing enterprise. The article presents the author’s approach to defining the essence and classifying the production capacity indicators. To achieve the goal the authors applied the analysis and synthesis methods. Application of the deduction principle allowed creating a system of production capacity indicators. The study has been based on the review of relevant scientific and periodical economic publications. The contents and the volume of the “production capacity” concept have been established. The proposed system of individual indicators of production capacity allows increasing the accuracy of calculation of production capacity, identify time reserves for various operations, efficiently plan the equipment exploitation and improve operational and calendar planning at the manufacturing enterprise.



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ISSN 2072-1633 (Print)
ISSN 2413-662X (Online)