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The article describes trends of import substitution on the market of agricultural machinery of Russia. The basic directions of development of the market of agricultural machinery as a key element of the organizational-economic mechanism of technical modernization of the agricultural sector. Evaluated the current economic and political situation and the necessity to provide import substitution in the agricultural machinery market as a key factor in ensuring food security of the country as a whole. Proved prospects of technical and technological modernization of agriculture of Russia in the framework of the state program of development of agriculture and regulation of markets of agricultural products, raw materials and food for 2013 – 2020, subject to the conditions of the WTO and integration into the EEU. Estimation of the prospects of introduction of protective customs measures or the recycling fee for agricultural machinery, as a factor reducing effective demand for it. Assessing the prospects of changes in the value of technology and on the background of negative dynamics of the rouble exchange rate. An important aspect is the fact that a number of market niches on the market are not closed by Russian producers (harvesters for harvesting of tubers, tuber crops, cabbage in Russia is not made). Presented market competitive advantages of the Russian market of equipment, which is characterized by high capacity.

The paper analyzes oligopolistic competition in a market for a differentiated product. A comparative analysis of competition models by Cournot (output competition) and Bertrand (price competition) under prerequisites put forward by the authors shows that under Bertrand competition the price level will be lower. Whereas interrelation between firms output and profit is ambiguous (if goods produced are substitutes), and depend, other things being equal, on the attractiveness of the good offered by the firm. The results obtained are illustrated using Russia’s automotive market review. In particular, an attempt is made to classify some decisions made by car producers as the one or the other competition strategy analyzed in the theoretical part of the paper.

M&A decisions are vital for long-term development of emerging market companies. Existing research pays little attention to studying structure of synergy and valuation of synergy in M&A deals, initiated by private companies. Therefore, there are no inclusive methods exist to analyze different components of financial and operating synergy. This article aims to systematize existing literature about synergy and validate theoretical model suitable for synergy valuation in M&A deals in Russia. We also test several empirical hypotheses about synergy structure during growth and crisis periods on Russian M&A market. In the introductory part of the article we discuss concept of synergy in M&A deals and types of synergy. In the second part we review academic literature related to valuation of different components of operating and financial synergy. In the third part we develop inclusive valuation method for five components of synergy. We formulate hypotheses and discuss data sample in part four. In part five we test hypotheses on empirical data using our model and discuss significant results. This article may be useful for company management and investment analysis to estimate value of prospective M&A deals.

The Russian project has more difficulties with the search of a good mentor than investments. There is a small quantity of successful entrepreneurs, who built their own business and are ready to share their experience not only through the TV, but directly with a certain project team. 

The article considers the foreign experience of mentor and project team cooperation, identifies the main areas and features of this cooperation. A survey among the residents of the Nizhny Novgorod Innovation Business Incubator revealed the pricipal characteristics of a mentor and criteria the mentor has to match. The author developed an algorithm of forming a mentoring pool that includes five main steps. The offered algorithm may have a positive impact on the innovation projects development process and improve the innovation projects incubation process, solving following problems: 

1. a lack of a necessary expertise of a project team. 

2. а little experience of a project team in the sphere of promoting their own business and producing goods and services. 

3. a lack of necessary contacts for promoting the project. 

The article describes the main topics and narratives, discussed at the Third Annual International Conference «Competency Based Entrepreneurship Education at Universities and Colleges» organized jointly by the National Association for Entrepreneurship Education (RUAEE) and the Center for Entrepreneurship. 

An impact and effectiveness of antitrust remedies (both structural and behavioral) issued by antitrust authorities as a condition for merger clearance are still poorly studied especially in Russian practices. The question raised in this article is quite unconventional. Does the form of remedies really matter to prevent consumer harm due to increased market power after merger? Is exact remedies fulfillment necessary for price increases preventing? To reach the answer on these questions there have been investigated Rosneft’s acquisition of TNK-BP, which both are large oil companies operating on Russian market. Antitrust remedies issued by FAS of Russia regarding to this merger included gas station selling in regions where market share of united company after the deal exceeded 50%. In fact, this condition was fulfilled in small part that cannot be considered as complete fulfillment. Analysis of prices using difference-in-difference approach demonstrated the absence of retail price increase after the merger. This result implies that information about FAS’s supervision over markets affected by the deal on its own may prevent price increase and negative impact on consumer welfare.

The article is devoted to conceptual and methodological approaches to forming of labour potential of the worker. Implemented the objectives of the study are: the analysis of theoretical bases of employees potential forming and elaboration of the author’s vision in its concept and structure; the study and identification of structuring and consistency principles during the formation of the economic indicators system of the labor potential; development of a employees potential indicators system and identify the key competencies provided by its components; determination of competitive advantages of Russian freelancers on the basis of their employment potential. Labor potential employees — the ability to use the resources of workers with the highest synergetic effect for human capital accumulation. In its structure the author identifies components: natural- demographic, socio-personal, educational-qualification, networking, innovative-entrepreneurial, conditions of social and labor relations. The maximum value level of each component provides competencies, and, consequently, allows them to be competitive in the labour market. The results of the research proved that the components of the freelancers labor potential that form them highly competitive, were: educational qualification; networking; innovation- entrepreneurial. The effectiveness of the labour potential workers use depends on the interaction of all economic agents, its capacity allows to raise competitiveness of labour resources.

Most of collusion participants have incentives to commit to collusion because of their high estimations of future profits. However Leniency Program can affect incentives of collusion participants through the analysis of market structure changes. The analyses of Leniency Program effects on stability and duration of collusions increases the efficiency both the work of the antimonopoly authority and the antimonopoly policy in general. The described method in the article estimated the impact of Leniency Program on the behavior of market participants based on Russian data on detected collusions and their characteristics in 2004 – 2011. Rule of full immunity for every application, introduced by 2007 edition of Leniency Program in Russia, supports incentives to commit to collusion, instead of refraining from illegal price fixing or market sharing. But the edition of Leniency Program that has been in place since 2009, in contrast, enhances profitability of deviation from collusion, making collusions unstable. The improved version of Leniency Program in 2009 had an impact on collusion participants which can be corresponded to high sanctions in spite of the actual sanctions had been low. So even in highly imperfect jurisdiction where the fight with collusions is weak, Leniency Program can have independent significant and can present as an effective tool.

The paper proposes the typology of IT innovations and competitive advantages, created by them, in the context high-tech IT innovations spreading in traditional industries. The typology of IT innovations and competitive advantages, created by them, is proposed according to the criteria of function and area of application of IT innovation. By function criteria IT innovation are divided on «information bridge» and basis for technical innovation. By application areas criteria IT innovation are divided on three types: within the firm; in sectoral / cross-sectoral cooperation; in interaction with state agencies. Thus all ways of cross-sectoral spread of IT innovation divided for 6 patterns. Each of the 6 patterns disclosed in the specific examples. The author examines several cases, describing different mechanisms of cross-sectoral spread of IT innovations, that confirms proposed typology and, at the same time, provide a more realistic, multi-dimensional picture of each pattern.

This article concerns concept of competition between municipalities, in which competitive advantage, competitive activity and competitive relations are defined. Internal resources of a municipality are estimated within theory of competition. Most important amongst functions of competition between municipalities are described. Main competitive advantages of municipality and connection to its social development are researched. Typical state of municipal finance in Nizhegorodskaya oblast’ is analyzed, use of internal resources towards achieving additional competitive advantage are estimated. Regularities of income distribution and expenses paid by municipality for different population are discovered. Subset of municipalities is selected from all municipalities of Nizhegorodskaya oblast’. Trend of relationship between municipal earnings and spending is discovered. A set of proposals on modification of tax system, aimed at reduction of dotation as an instrument of forming possibilities of increasing municipal competitiveness is reviewed. Practices, utilizing internal reserves for enhancing quality of open auctions are proposed. Practice of outsourcing social services via open auctions under fiscal stress is explored. Estimation of visible budget economy and contract break risks from the competitive advantage point of view, are carried out, regularities of contract execution (or failure thereof) are discovered.