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Kosorukova I. V.

Degree	Dr. Sci. (Econ.), Professor, Deputy Head of Corporate Finance and Corporate Governance for Research and Postgraduate Studies Department, Financial University under the Government of the Russian Federation; Head of Valuation Activity and Corporate Finance Department, Synergy University
E-mail	ivkosorukova@fa.ru
Location	Moscow, Russia
Articles	The impact the company value management has upon the company competitiveness level During the last decade such factors as the company capitalization and the company market value growth have been making an increasingly high contribution to the company competitive position change. Not very long ago it was necessary to make quality product in large quantities, have access to the financial resources and be able to use the resources of the administrative authorities in order to be a leader. Now the answer to the question «what are your capitalization figures?» is one of the leading factors influencing the outcome of the negotiations on partnership, strategic alliance formation, or investment attraction chances. If you do not start managing your company value now, tomorrow might turn out to be late as there will be no business to manage. The special importance factor is the quality of the company management. It is the quality that is the prerequisite for the business success in today's competitive environment. Read more... Cost estimating: the theory and the practice The agreement for appraisal services and appraisal report compilation requirements set by the Russian legislation are very strict and if the requirements are not met, the court of law has a right to issue a resolution stating that the agreement is null and void and the cost estimates are erroneous. That is why any customer should be aware of the appraisal and estimation-related operational requirements set by the legislation. This is the only way to decrease the risk of suffering from the bad consequences of the deal made in accordance with the costs estimates made by the appraisers and to decrease the risk of dealing with an incompetent individual and to save the money (the sums are sometimes quite large). Without doing an in-depth research, the article author offers the public to take a look at the legisla¬tion requirements and the appraisal standards that any appraiser has to meet when preparing an appraisal report. Read more... Value based approach to the analysis of the competitiveness of the business The problem of the analysis of the competitiveness of the business relevant in any market economies and at any stage of their development. But in a changing environment activities of the business are changing values, respectively, changed and improved analysis tools. The article describes the possibilities of the use of value based analysis for the purposes of the analysis of the competitiveness of the business. Is considered tools at the strategic and operational level, as well as the practice of application of such tools. Read more... Value of state enterprises and their competitiveness In the article the author examines the problems of the analysis of competitiveness of business of state enterprises on the basis of the monetary approach to decision-making. The author defines the features and factors affecting the cost and competitiveness of national unitary enterprises and stakes in the authorized capital of economic societies belonging to the state, and to elaborate proposals for the criteria of evaluation of the competitiveness of enterprises with the state share. Read more... Application of the cost approach in taxation of Russian organizations as a tool to increase competitiveness of the national economy In the article the authors consider the problems of application of the cost approach in taxation of Russia: peculiarities of transfer pricing and their account in determining the tax bases of taxation; problems of accounting in the taxation of such categories as the fair value of the taxation. The authors examine the impact of the application of the cost approach in taxation on the growth of competitiveness of the national economy. Read more... Competitive Advantages of Russia’s Spatial Development in the Context of the ESG-agenda and Property Transformation The economic strategy and prospects for the socio-economic recovery of Russian regions are largely determined by the priorities and sequence of key goals of the country’s spatial development, modern trends in the development of the world economy. The purpose of this article is to identify the complex and contradictory impact of the global restructuring of the world economy on the prospects for the formation of innovative ecosystems in Russian regions. The tasks solved within the framework of the study are to establish current trends in global transformations and develop proposals for the formation of approaches and scenarios for the spatial development of Russian regions. A new stage of world development is associated with the restructuring of the existing system of economic relations and economic relations, determined by the modification of property relations. The paradigm shift allows us to consider the activities of companies not only from the perspective of economic performance, but also from the perspective of impact on nature and society. The main methods of solving the problems posed were empirical methods of comparative and structural analysis, the use of systematic and scenario approaches to regional development, taking into account the ESG agenda. In the course of the study, industrial areas that are part of the Siberian Federal District of the Russian Federation were analyzed. The results of the analysis allowed us to conclude that the ESG concept creates additional restrictions for almost all branches of Russian industry. This made it possible to determine the strategic role of high-tech and knowledge-intensive enterprises in the studied regions as the basic development structures for the target industry segments of the national economy. The novelty of the work lies in the proposed measures that will allow regional, local and corporate governance to adapt to the changes taking place, adjust existing models and tools in accordance with existing experience and traditions. Read more... Features of Corporate Governance Development in Russia in Modern Economic Conditions This article is devoted to the analysis of the problems of corporate governance development in Russia in the current geopolitical situation. Currently, there is a certain dissonance in the trajectories of the development of the world and Russian economies in terms of their ESG transformation. If in the international economic space ESG factors of development are in the first place when making decisions about investing in projects and securities, then in Russian reality these factors do not find such interest from investors. In addition, one of the constituent factors of ESG transformation – corporate governance (G) – is undergoing significant changes in terms of regulatory regulation and practical use in Russia as part of the anti-sanctions policy. The impact of changes in Russian regulatory documents regarding the operation of corporate governance principles on changes in business value is analyzed. Proposals are made on the amendments to regulatory documents to mitigate their negative impact on the growth of business value. The aim of the research is to analyze legislative changes in the field of corporate governance in Russia and the impact of these changes on the formation of the business value of Russian companies. The objective of the research is to identify the factors influencing the change in the value of the business as a result of the adopted changes in the regulatory framework in the field of corporate governance in Russia. The research is based on a general scientific methodology involving the use of methods of systematic and comparative analysis, analysis and synthesis, methods and approaches of evaluation activities. Changes in regulatory documents in the area of corporate governance affect all seven principles of corporate governance under the Code of the Bank of Russia. These changes have both a positive and negative impact on the stock price and the value of the business. The article provides suggestions for leveling the negative impact of changes in regulatory documents in the field of corporate governance on the value of business. Read more...