The author makes comments on the state of the problem in part of the English-speaking scientific thought. The authors present a comparative analysis of risk management conducted in countries where the dual banking system is practised — Islamic (ethical) banking and conventional (western) banking. The study showed that a risk profile of an Islamic bank is not significantly different from the one of the conventional banks in practices. In the beginning, they point out the central thesis and prospects for the development of conventional and Islamic banking. The central part of the comments begins with the historical aspect of the comparison. According to him, despite the differences, they are based on the priority of financial and human values. Further, the authors carefully discuss the risk profile of Islamic banks and the unique risks facing Islamic banks. It was confronted with conventional risk management of banks based on the Basel Committee on Banking Supervision (BCBS). Today, the regulation applies to credit risk, market risk, operational risk and liquidity risk (Basel II and Basel III). After all, the author reaches two essential conclusions for his research.
Taking the Russian and the International experience, the principal aim of this study is to analyse sovereign wealth funds critically. It remains well known that the Russian National Wealth Fund is vital in the macroeconomic policy of the Russian state. After the abolition of the Reserve Fund in 2018, the Russian National Wealth Fund has to solve a wide range of tasks. In this context, one can argue that the sovereign welfare fund is a specialised monetary fund used to stabilise the state budget when government revenues decline. The welfare fund is also used to finance government needs in the long-term period. The role of sovereign wealth funds is growing in the world. They accumulate large amounts of financial resources. Sovereign wealth funds are founded in such countries where the budget strongly depends on market factors. In most cases, these factors are global commodity prices. The funds’ money is used to cover the deficit of the relevant budget in case of unfavourable market shifts. In the period of high commodity prices, the fund accumulates an excess of export earnings. Against this backdrop, the key purpose of the study is to evaluate the efficiency of managing the National Wealth Fund in the Russian Federation. The study was carried out using the methods of synthesis, analysis, economic analysis, as well as graphic methods, and the methods of comparisons and analogies, which in turn helps in evaluating the extent of efficiency of managing the Russian National Wealth Fund.. The research findings can be used when developing an investment strategy (investment portfolio) of the Russian National Wealth Fund, through which it can aim at balancing the insurance pension system, financing of the federal budget deficit, and co-financing of voluntary pension savings. In this regard, it is imperative for the fund to perform in productive investment activities.
The agro-industrial complex faces lots of challenges which brake its efficient economic, ecological and biological development and labor market functioning. Applying statistical analysis of the current indicators we estimate the influence of the negative factors and propose the possible solution. Despite its huge potential, the Russian agro-industrial complex is currently in a state of deep systemic crisis. The development of the agro-industrial complex is directly related to the quality of life of the rural population and the situation in the labor market. The possible solution is to develop engineering, social and transport infrastructure and improve the situation in the labor market in the rural areas. It is the state regulation and support of the agro-industrial complex that is currently the fundamental point of solving existing problems. To maintain efficiency in the agricultural sector, state regulation and support are not just necessary, but unavoidable. For effective operation and systematic development of the agro-industrial complex, it is necessary to form a program of state support for the sector in order to attract investment and innovation.
The study subject of this paper is the identification of changes in public perception of environmental problems, social and corporate governance issues, and the risks arising from its. The goal is going to be finding ways to manage these risks. The research’s methodology envisages a consistent analysis of impact of the amended approaches of society on the basic aspects of companies’ activities, starting from the investment stage, with definition of qualitative and quantitative parameters of the likely risks and benefits associated with the introduction of sustainable development principles by commercial organizations. The result of the study is identification a degree of impact of acceptance of importance or refusal of management of the specified risks on companies’ financial result and its value for shareholders and investors. It is substantiated that nowadays the motivation of investors is determined not only by financial performance of the company, but also by its efforts to comply with the changed ideas of state and society about interaction of the economy and the environment, relations between people. Recommendations are formulated for companies to manage these risks, which are important for all sectors of the economy.
Автор исследует особенности функционирования корпоративных финансовых служб, в работе которых многое изменилось за последние двадцать лет. Целью исследования является поиск оптимального баланса традиционных, рутинных операций и аналитической работы финансовой службы компании в существенно усложнившихся и нестабильных макроэкономических условиях. Теоретическую и методологическую основу исследования составили научные труды зарубежных ученых и экспертов по вопросам повышения эффективности работы финансовой службы корпораций. Использованы методы качественного и количественного анализа научных публикаций, аналитические материалы известных консалтинговых организаций, статистические данные. В результате исследования автор приходит к выводу, что для повышения отдачи от своей работы финансовой службе целесообразно сосредоточиться на углубленном анализе деятельности корпорации и подготовить предложения по повышению ее экономической эффективности в рамках концепции капитализма заинтересованных сторон. При этом часть работы, связанной с текущими расчетными операциями и кредитной поддержкой деятельности компании и сопутствующими рисками, рационально передать организациям, специализирующимся на такой деятельности. Ключевые слова: финансовая служба; эффективность; аналитическая работа; создание дополнительной стоимости Для цитирования: смирнов в. д. изменения в финансовой функции компаний.
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