Journal archive
Industry market |
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The article is devoted to the new instrument to attract funding, which competes with the traditional
instruments of attraction of investments — crowdfunding. The comparative research of venture
capital and crowdfunding shows opportunities and risks of crowdfunding in the purpose of raising
funds to projects. Crowdfunding opportunities are highlighted, as well as competitive advantages
of crowdfunding compared to venture capital. In order to identify the advantages and disadvantages
of crowdfinding, as well as the characteristics of the competitive advantages of the instrument
and the risks of its use, the factors of the competitiveness of the tool are determined in the work.
A comparative study of the source of funding for crowdfunding with venture capital in the field of:
financial arrangements and contracts, investor protection, investor relations and behavior, investors’
exit from the company’s capital. In the course of the study, unique features of crowdfunding were
also revealed in attracting funding, for example, the emerging asymmetry of information. The double
trust dilemma created in the process of using the innovative tool is considered. The motivational
component of crowdfunding is determined, divided by the motivation of the entrepreneur and the
motivation of the investor. Dedicated to the same factors deterrence of entrepreneurs and investors.
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The article focuses on entrepreneurship internationalization phenomena that accompany global
economic processes expressed in shaping of diverse cross-border corporations forms. Models and
methods systematization of business internationalization is put forward, business internationalization
levels are defined as in the case of a global company «Formula One», and its impact on the global
motor vehicle development is considered. Interrelation of the countries hosting «Formula One» and
the number of the cars manufactured is shown as well as nominal rate of gross domestic product.
By means of scientific literature analysis concerning internationalization, the author brings into sharp
focus the key reasons for business internationalization phenomena stepping up.
For the first time in economic science «Formula One» is considered through the prism of international
business and defined as a business structure which uses the eclectic model of Danning
in the world market in the conditions of internationalization as it uses in its business activity specific
advantages of itself and the owner; resources of national and local entrepreneurial structures in the
field (the location of direct investment effect and internationalization advantage). It is revealed that,
the so-called absolute advantage which is limited in international trade in uniqueness and originality
of the product was the main reason for international company «Formula One» internationalization.
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The article is devoted to an estimation of resource’s portfolio influence on sustainable growth
of industrial enterprises. We clarified terminology and systematized approaches to measuring the
enterprise’s sustainable growth and the factors affecting it. On the basis of the author’s previous
studies, we have the hypothesis that investments in the material assets are the most profitable for
the Russian industrial enterprises development. Due to institutional and macroeconomic factors,
enterprises tend to minimize long-term investments.
We used SPARK Interfax data of industrial metallurgical enterprises for 2009 – 2015. Author did
econometric estimation of asset’s influence and resource portfolio in general on growth in the short-,
medium- and long-term periods.
The results illustrate that investments in the resource portfolio have a negative impact on business
performance. Investments in financial and material assets have the greatest influence on the profitability’s
increase in the industrial metallurgy enterprises. Any intangible assets investments negatively
affect the future enterprises profitability. Investments in resources for metallurgical enterprises are
more profitable in the medium term than in the short or long term.
The average strength of the correlation between resource’s investment and sustainable growth
testifies to the presence of other factors. In fact, institutional and macroeconomic factors determine
the development of Russian business. It means, Russian owners can’t control enterprises. This result
confirms the author’s previous theoretical conclusions.
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The theory of competition |
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The article is the first published in Russian in which races consistently noticeable issue about
the influence of personality on competition in the entrepreneur as. Adhering to a multidisciplinary
approach to the study of competition, the author identifies the main segments of such influence
competitive motivation of the leaders of the companies, their degree of professional competence in
matters of personal involvement in competition and in management issues of competitive actions,
their personal competitiveness, as well as personal qualities and personal inclination, professional
important to participate in the competition and invites colleagues to discussion. The article provides
a rationale for the concepts of competitive competence, competitive ability, trait competitiveness,
competitive spirit, a competitive way of thinking, manners and styles of competitive behavior of companies
in competitive environment.
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In the beginning of the paper the concept of «competitive disposition» will be revealed. The paper
justifies tactical character of the concept of «competitive disposition».
The article briefly describes the competitive disposition of the platform-firm against the productfirm,
within which the content of the multisided platform competitive behavior is most often disclosed.
We give arguments in favor of the fact that the disposition «platform-product» is more complicated
and more important than others.
Paper proposes description of the shaping strategy, revealing high degree of cooperation in the
strategic actions of the firm. The ecosystem created by the formative strategy is described in comparison
with the traditional business ecosystem created along the value chain.
Further, the place of the shaping strategy in the company’s strategic repertoire is determined.
The roles and functions of the firms participating in the shaping strategy are disclosed, which is
described through three components: shaping view, shaping platform, shaping actions. As a result,
the differences between the shaping strategy and the strategy of the multisided digital platform are
outlined.
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Competitiveness of business |
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The major concepts of competitive analysis that are most commonly used nowadays even though
they were developed in the second half of the XX century are: Porter’s 5 Forces Model, SWOT
Analysis, 4P and etc. But in the current era lots of changes have significantly affected business infrastructure
that’s why great deal of studies are focused on expanding on the ideas, criticizing and
adapting classical competitive analysis model. That’s why this paper identifies different concepts
of competitive analysis and their evolution and introduces new online competitive analysis model
based on contemporary sources of data that can be used as additional source of information to
classical competitive analysis models or can be used as a separate tool.
Online competitive analysis model that is introduced in the paper named OE that stands for an abbreviation
of two types of channels: owned and earned as the model is based on calculation of net
traffic on the firms websites and net number of mentions of the brand or product. To test the model
the analysis of Russian beauty market players in luxury segment was conducted.
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Efficient operation of the enterprise largely depends on how it is adapted to the external environment
and to what extent it is capable of innovation. Currently, most manufacturing companies have
already realized the need for change and innovation. The purpose of this article is to define criteria
and methodology for comparison of waterproofing products in the Republic of Tatarstan. As the
method proposes the use of the analytic hierarchy process. The results obtained can serve later as
a basis for making management decisions and increase competitiveness of products of the enterprise.
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Entrepreneurship theory |
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The research urgency is caused by the implementation of the Federal strategy of development
small and medium entrepreneurship for the period up to 2030. The aim of the study was to determine
the laws specific to the current dimensional structure of small and medium entrepreneurship in Russia.
Objectives of the study: to establish the patterns characterizing the number of legal entities and
individual entrepreneurs belonging to small and medium entrepreneurship in three size categories,
and the number of their employees, changes in the structure of entrepreneurship for five years, the
definition of specific indicators number of employees per enterprise, as well as estimation of the distribution
of these indicators on the aggregates of entrepreneurial structures. Research methodology
is based on consideration of the totality of entrepreneurial subjects, formed according to size and
territorial characteristics. During the research, a comparative analysis of the performance of small
and medium entrepreneurship in 2015 and 2010 years according to official statistics, based on solid
observations of activities of small and medium business. Determined the materiality of structural
changes during the period under review. Modeling of the differentiation values of the number of
workers per enterprise based on the development of the density function of the normal distribution.
According to the results of modeling the mean values of the number of employees for each of the
size categories of enterprises, as well as the intervals of changes of these parameters on the aggregates
of small and medium enterprises, located in most subjects of the country. The practical
significance of research results is associated with the possibility of their use by departments of the
regional and municipal administration, involved in formation of projects and programs of entrepreneurship
development, as well as the monitoring activities of the entrepreneurship sector.
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Antitrust regulation |
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In practice of antitrust cases and competition policy antitrust authority often used as argument
gain / costs of consumer’s and gain / costs of competitors in relevant market. The main indicators
of valuation of social gain / costs in antitrust trials are price, quantity, costs of firms in the market.
In some cases, the impact of transaction costs is assessed too. But results of this research represented
that important element of estimation of costs / benefits from monopolization can become new
method based on economic and financial indices of the industry.
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