Proceedings of Voronezh State University. Series: Economics and Management
https://journals.vsu.ru/econ
<p><strong><a href="https://portal.issn.org/resource/ISSN/1814-2966" target="_blank" rel="noopener">ISSN:</a></strong> 1814-2966 | <strong><a href="https://journals.vsu.ru/econ/issue/archive" target="_blank" rel="noopener">Issues per year:</a></strong> 4 | <strong><a href="https://elibrary.ru/title_about.asp?id=25691" target="_blank" rel="noopener">Impact-factor RSCI 2022:</a></strong> 1,491 <br>The journal that publishes research papers in Russian on the results of original economics investigations. For consideration and publication are accepted unpublished before papers of the high education institutions scientists about problems of economics and management, marketing, finance as well as the analytic reviews. <br><strong>Indexed and abstract</strong>: <a href="https://ebsco.com/" target="_blank" rel="noopener">EBSCO database</a>; <a href="https://www.elibrary.ru/title_about_new.asp?id=25691" target="_blank" rel="noopener">Russian Science Citation Index (RSCI)</a>; <a href="https://vak.minobrnauki.gov.ru/uploader/loader?type=19&name=91107547002&f=7112" target="_blank" rel="noopener">List of Peer-reviewed Scientific Journals, entering to the international abstract databases and the systems of citing, recommended by the Higher Attestation Commission of the Russian Ministry of Education and Science for publication of principal scientific results of competitors for scientific degrees of science’s doctor and candidate.</a> <br><strong>Editor-in-chief</strong>: Dmitry A. Endovitsky, Doctor of Economics, Professor (Voronezh State University)</p>Voronezh State Universityen-USProceedings of Voronezh State University. Series: Economics and Management1814-2966Public-private partnership as an institution contributing to the integration of the economy of the Donetsk People's Republic into the economy of the Russian Federation: methodological aspect
https://journals.vsu.ru/econ/article/view/11661
<p><strong>Subject.</strong> With the entry of the Donetsk People's Republic (DPR) into the Russian Federation, it has become highly important to study the mechanisms of interaction and interpenetration of the two economies contributing to the formation of a single state. To implement this task, it is of paramount importance to adjust institutions, including the institution of public-private partnership (PPP). <strong><br>Objectives.</strong> To study the system of relations of public-private partnership and to find a model of public-private partnership which will fit the current state of the production forces in the DPR and contribute to the corresponding integration process. <br><strong>Methodology</strong><strong>.</strong> The core principles of economic theory that address issues related to public-private partnership, the development of PPP relations, its forms, and models serve as the theoretical and methodological foundation of this study. The study is based on the dialectical method, which made it possible to identify inconsistencies within the public-private partnership system and suggest solutions to resolve them. This will ensure the integration of the DPR economy into the economy of the Russian Federation. The results of the study were substantiated by means of the retrospective analysis of the practice of public-private partnership relations in the Russian Federation, the DPR, and in foreign countries. Such analysis allowed validating the most effective mechanisms and models of PPP appropriate for the current circumstances in the DPR and the Russian Federation, encompassing the context of the special military operation. <br><strong>Results and discussion.</strong> As a result of the study, it was concluded that there are different methodological approaches to defining PPP. Scientists and practitioners tend to use a pragmatic approach and characterise PPP in the context of specific projects, which allows them to implement its specific models and mechanisms. On the other hand, a lack of thorough analysis of socio-economic relations within PPPs makes it difficult to search for an effective model of relations between the state and business. Therefore, the authors studied the subject within a socio-economic approach. This made it possible to develop a concept of public-private partnership relations which will fit the current circumstances, challenges, and threats (in which the economy of the DPR is functioning) and contribute to the integration of the economy of the DPR into the economy of the Russian Federation.</p>Lilia I. DmytrychenkoAlexander M. ChausovskyPavel A. Kanapukhin
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-29451910.17308/econ.2023.4/11661Analysing the efficiency of public procurement procedures using game-theory models
https://journals.vsu.ru/econ/article/view/11688
<p><strong>Subject.</strong> Public procurement plays an important role in providing public services and ensuring that the target programmes of government structures are implemented. Therefore, it is crucial to improve the efficiency of procurement procedures. The efficiency of public procurement is largely determined by the conditions and format of the procurement procedure. So, it is of particular interest to identify the factors influencing the customer’s choice of the optimal procedure for the procurement of different types of goods, as well as to assess the impact of these factors on the effectiveness of existing procedures.<br><strong>Objectives.</strong> The aim of the study was to develop a model for selecting procurement procedures for different types of goods and to assess the effectiveness of current public procurement procedures.<br><strong>Methodology.</strong> In the study, we used the findings of auction theory, qualitative and quantitative analysis techniques to identify public procurement, determine its value to participants, and assess its effectiveness. The following goods were selected for empirical assessment: paper, medicines, automotive components, and construction services. The empirical basis of the study was the data obtained from the Unified Information System (UIS) in Procurement website.<br><strong>Results.</strong> We developed and estimated a model for choosing a supplier selection procedure (for empirical assessment, the probability of choosing a certain procedure was determined by the number of uses of the procedures among completed procurement procedures). We also designed and estimated a model of price effectiveness for public procurement procedures that are actually in use (price effectiveness in this study means the final price of the contract, as well as the reduction of the final price against the initial maximum price).<br><strong>Conclusions. </strong>Based on the analysis, we concluded that it is necessary to introduce negotiations as an intermediate procedure between the auction and procurement from a single supplier. Such a procedure is used in other countries. The auction procedure fails to provide the best quality goods, especially in the case of complex goods or services with a high level of uncertainty. For simple goods, an auction is the most favoured procedure under the conditions of high competition and a preference for quality. It allows selecting the most experienced and financially reliable supplier.</p>Aleksandra M. ZhemkovaLarisa M. NikitinaTatiana N. Gogoleva
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-294203210.17308/econ.2023.4/11688The impact of the digital revolution on the substitution of labour with capital
https://journals.vsu.ru/econ/article/view/11665
<p><strong>Subject</strong>. Throughout human history, the development of new technologies has led to an increase in the efficiency of labour, changed its nature and influenced the socio-economic life of people. Currently, the process of the digitalisation of the economy, as well as the distribution of robotics and artificial intelligence technologies, increase interest in scientific research aimed at assessing the impact of these technologies on labour and productivity.<br><strong>Purposes.</strong> The purpose of this article was the analysis of the impact of modern technological innovation on labour demand at the macroeconomic level. To achieve these, we considered two key issues: what is the impact of the introduction of new technologies on overall demand and what impact does the integration of new technologies have on the economy.<br><strong>Methodology.</strong> In order to achieve the objectives, an analysis of domestic and foreign research in this area was carried out, and approaches to statistical testing of the hypotheses were discussed. General scientific methods were used: analysis, synthesis, comparison, systematisation.<br><strong>Conclusions. </strong>Two main approaches to forecasting the impact of new technologies on the labour market have been identified: the capital-labour hypothesis (techno-optimists) and an increase of the technological demand hypothesis (techno-sceptics). It was revealed that statistical testing of the impact of new technologies on aggregate labour demand is not available due to data limitations. It was also noted that these two approaches apply to different time perspectives and are not mutually exclusive. It was found that there are conflicting views on the expected consequences of new technologies for the labour market. Some people believe that technologies will increase skill and income inequality, while others predict that it will reduce inequality and make the digital economy accessible to people with different skills.</p>Igor O. Rudakov
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-294334510.17308/econ.2023.4/11665Institutional support for the development of the Donbas: a retrospective analysis performed upon the inclusion of the region Into the Russian Federation
https://journals.vsu.ru/econ/article/view/11685
<p><strong>Subject.</strong> Institutional support for the development of the Donbas during the process of its adaptation to the social and economic system of the Russian Federation. The state and development prospects of institutional subsystems: business, public authority, financial, and non-commercial sectors. <br><strong>Purpose.</strong> To study the main parameters of the institutional subsystems in the Donbas and determine the problems and the vectors of institutional, social, and economic development of the region in the situation of an armed conflict running parallel to its integration with Russian institutes. <br><strong>Research methods.</strong> The theoretical basis of the study was the dialectical method, which allowed us to consider social, economic, and institutional systems of the Donbas in the context of integration of the region in Russian social environment. To determine the problems of social, economic, and institutional development of the region, the monographic method was used. It allowed us to review the existing approaches to the state and prospects of the economy and the supporting institutes during the period of integration into the Russian Federation. A retrospective analysis was a key practical research method. It helped to determine the dynamics of the main institutional subsystems of the region from the point of view of modernisation of the functions implemented by such institutes as business, public authority, financial, and non-commercial sector during the armed conflict of 2014-2021 and the special military operation. <br><strong>Results and discussion</strong>. After its inclusion into the Russian Federation, the institutional support of the development of the Donbas requires a fundamental transformation in order to adapt to new conditions. The transformation should involve a comprehensive transformation of the social and economic model of the region and its infrastructure, diversification, and modernisation of the development institutes. At the same time, it is necessary to take into account the weaknesses of the institutional system of the region. They include external threats caused by the armed conflict which started in 2014 and caused damage to the business institute; a dramatic reduction in the number of stimuli for the functioning of financial institutes, especially for the innovative and investment activities; underdevelopment of non-commercial organisations; and a high level of bureaucracy in public institutions. The new institutional model should be aimed at decreasing the vulnerability of the region to geopolitical and economic crises and its dependence on heavy industry and coal mining, while developing high-tech industries and innovations, and investing in education, healthcare, and the retraining of the labour force. It is therefore necessary to develop reasonable adaptation strategies and programmes, including appointing responsible executives to the governmental and municipal bodies and developing mechanisms for the financing of projects aimed at the economic growth and well-being of the population.</p>Tatyana O. ZagornayaYuri I. TreshchevskyNatalia V. Dolbnya
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-294465910.17308/econ.2023.4/11685Assessment of the level of socio-economic development of the Rostov region based on the balance of regional subsystems
https://journals.vsu.ru/econ/article/view/11689
<p><strong>Subject.</strong> The conditions determining the balanced development of regional subsystems depend on multiple factors that influence the degree of regional development of a certain region. In today's world, the balanced development of regional subsystems directly affects the level of socio-economic development of the regional economy. <br><strong>Objectives.</strong> Justification of a methodological approach to assessing the region’s level of socio-economic development through the prism of the balance of its subsystems (social, environmental, and economic). <br><strong>Methodology.</strong> The research methodology is based on a systematic approach, and in this work we used the following: general scientific and special analytical methods: logical analysis, used in the study of methods for assessing the balance of regional development; structural and logical analysis, allowing to organise and clarify the terminology in the conceptual framework of the “balanced development of the region”; generalisation and grouping (while selecting statistical indicators). Economic-mathematical and economic-statistical methods were also used to analyse and assess the relation between indicators, including the method of index correlations. It allows determining the degree of one indicator influencing another and evaluating their correlation. The method of visualisation was used to clearly demonstrate the results of the study and analytical data. It helped to present the obtained results in graphical or diagrammatic form so as to better understand their meaning and make conclusions. Comparative and economic analysis was used to analyse the balance of the region's component subsystems (social, environmental, and economic). Comparative analysis allows determining the differences and similarities between these components and assess their impact on the overall development of the region. Economic analysis identifies economic factors influencing the state of the region and assesses the efficiency of its subsystems’ operation. The method of expert assessment is used to justify a set of indicators and assess the efficiency of regional subsystems’ operation (social, environmental, and economic), which allows obtaining more objective and substantiated data for the analysis and assessment of the region’s activities. <strong><br>Results.</strong> The obtained results indicated that the development system of the Rostov region is imperfect, and social, environmental, and economic subsystems were not balanced. The assessment of the balance of regional development showed a low level of economic activity in the region, which was 1.9 points, being below the average value (from 2 to 3 points). This indicator means that the state of the socio-economic system is unstable, therefore, a mechanism must be created to regulate the balance of the target characteristics of the system. This will serve as a fundamental line for future research.<strong> <br>Discussion. </strong>The obtained results were compared with the conclusions of researchers who assessed the level of socio-economic development of the region in the specified time periods based on an assessment of the balance of regional subsystems and made forecasts regarding the prospects for regional development. <br><strong>Conclusions. </strong>The conducted analysis allowed making conclusions on the informative characteristic in the balance of regional development as a result of the influence of economic, social, and environmental factors on the region’s subsystems; the elemental composition of integral indicators for assessing the balance of regional subsystems in particular and regional development in general, including the informative side of assessing the socio-economic development of the region; and features of the methodological approach based on the scoring of regional development indicators.</p>Tatiana V. IbragimkhalilovaGalina V. GolikovaKarina O. Ovchinnikova
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-294607510.17308/econ.2023.4/11689Developing a concept for the economic and social management of a city with due account for the predicted industrial development
https://journals.vsu.ru/econ/article/view/11660
<p><strong>Subject.</strong> Theoretical, methodological, and practical issues related to the economic and social management of the city with due account of the predicted values of the industrial development.<br><strong>Objectives.</strong> Justification of scientific and methodological provisions of a conceptual nature related to urban management and solving local social problems by forecasting the level of industrial development.<br><strong>Methodology.</strong> The authors put forward a <strong><em>hypothesis</em></strong>: if the level of industrial development is forecasted accurately, it is possible to plan upcoming changes in the main economic and social indicators of the municipal economy. Theoretically, the hypothesis is based on the method of logical scaling and synthesis of scientific and practical knowledge. Statistical studies were conducted using the method of econometric and financial analysis based on socio-economic indicators of industrial cities in the Southern Federal District of Russia for the period from 2013 to 2022. Forecasting for the subsequent periods is based on an applied approach to constructing estimates of the quasi-maximal likelihood of the level of industrial development, which was carried out using the theory of stochastic differential equations based on methods of probabilistic forecasting.<br><strong>Results and discussion.</strong> As a result of the study, it was substantiated that municipal management contributes to the production of material goods and to harmonisation of socio-economic relations between local authorities, businesses, public organisations, and individuals, which are interrelated with the level of industrial development of a city. The developed applied approach to constructing estimates of the quasi-maximal likelihood of values of socio-economic parameters makes it possible to forecast the level of industrial development of cities in the Russian Federation. Point and interval forecasts lay the foundation for planning economic and other indicators. The concept of economic and social management of administrative-territorial units was proposed. The mandatory socio-economic blocks of the concept were supplemented with the functionality of prediction modelling, which requires further discussion, critical understanding, and subsequent improvement. Future changes in local industrial policy need to be analysed and evaluated in terms of their effectiveness in the context of structural modernisation of the economic and organisational mechanism for urban and social management of the city.</p>Yulian N. Polshkov
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-294768910.17308/econ.2023.4/11660“Talents and admirers” in the labour market
https://journals.vsu.ru/econ/article/view/11686
<p><strong>Subject.</strong> Currently, the priority in the labour market is given to employees who are determined to succeed, who can solve new challenges and contribute to the competitiveness of the organisation. This means that there is a need to provide up-to-date scientific definitions, factors, and criteria to assess success by using the “talents and admirers” dyad.<br><strong>Objectives.</strong> The purpose of the article was to provide an insight into the development of scientific thought regarding talented workers, to describe the evolution of human resource management which was divided into several stages, to describe methods of assessment and the peculiarities of the functioning of the “talents and admirers” dyad in relation to modern organisations.<br><strong>Methodology.</strong> The method of analysis was used to determine how the content of the term “talent” changed over the years, starting from the idea of “talanton” used in the financial system of Ancient Greece and finishing with ideas about innate and acquired talent. The method of synthesis was used to gain a single comprehensive view of the “talents and admirers” dyad adapted to the contemporary labour market. Tables and classifications were used to show the influence of the factors that shape the demand for the workforce qualified as talents.<br><strong>Results.</strong> The provisions of the article promote the idea about the necessity of talented workers in the labour market, they describe the characteristic features of talented workers, the reasons why this element should be included in the periodisation describing the evolution of human resource management; they also describe the influence of social and economic factors on the transformation of the labour market and the emergence of the category of “talent”.<br><strong>Conclusions.</strong> The content of the category “talent” varies depending on the field of human activity and the level of competition within it. We have identified three stages of the development of this term in relation to social and economic reality: during the first stage, the term “talanton” meant the highest unit of weight in the financial system of Ancient Greece; during the second stage, talent meant innate qualities of individuals, mainly in the field of music and creativity; and during the third stage, it meant acquired competence displayed in the real sector of the economy. The author formulated her own definition of a talented employee based on the indicators of the level of development, effectiveness, potential, and the manager’s attitude to such employee. A four-step mechanism for achieving professional success which indicates a talented employee was substantiated. It was stated that there is a “talent and admirer” dyad in the labour market, where the latter provide the “talent” with the necessary feedback.</p>Irina B. Durakova
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-2949010110.17308/econ.2023.4/11686The system of regulatory documents in the field of professional audit ethics: current state and areas for improvement
https://journals.vsu.ru/econ/article/view/11659
<p><strong>Subject.</strong> Auditors’ compliance with professional ethics is fundamental for the reputation of the profession as a whole. Ensuring their reputation is critical to the audit institution, because without it, auditing can be quickly replaced by competing forms, such as public assurance and artificial intelligence verification procedures. In this situation, it is more appropriate to prevent risks associated with the loss of auditors’ reputations than to eliminate their consequences, which may be catastrophic for the audit market as a whole. To achieve this, the norms of professional audit ethics should be unified, established by an authoritative party, understandable for both auditors and the general public, and their violation should be suppressed and strictly punished. In this regard, it is important to ensure an up-to-date, consistent, and centralised system of documents regulating these norms. The study is devoted to the modern organisational issues facing this system in the Russian Federation.<br><strong>Objectives.</strong> The aim of the study was to reveal the key current problems, from the authors’ point of view, in the organisation of the system of documents establishing the norms of professional ethics of auditors in the Russian Federation, which constitute threats to the Russian audit market, and to propose potential solutions.<br><strong>Methodology.</strong> The research results were obtained using analysis, synthesis, analogy, logical approach, classification, etc. The above methods and approaches were applied to the mandatory requirements for auditors contained in regulatory legal acts and other regulatory documents, the system of state regulation and professional self-regulation of auditing activities in the Russian Federation, and statistical materials of the Ministry of Finance of the Russian Federation characterising the Russian audit market. We also applied them to the established legal and auditing practices and current developments presented in specialised scientific literature.<br><strong>Results.</strong> We identified the issues related to the responsibility for updating the Code of Professional Ethics for Auditors and the Rules of Independence of Auditors and Audit Organisations; the prevalence of decisions of the Bank of Russia in the field of professional audit ethics in the financial market over these documents. We proposed a structure for the process of updating the Code of Professional Ethics for Auditors and the Rules of Independence of Auditors and Audit Organisations preserving the originally envisaged hierarchy of parties involved in the regulation of auditing activities.<br><strong>Conclusions. </strong>We came to the conclusion that there is no body responsible for updating the main documents containing mandatory requirements for auditors in terms of compliance with professional ethics; decisions of the Bank of Russia in the field of professional audit ethics in the financial sector take precedence over the relevant mandatory requirements at the federal level. We argued and proposed solutions to these problems for further professional and scientific discussion.</p>Alla V. KudryashovaIrina V. Panina
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-29411512710.17308/econ.2023.4/11659Innovations in fixed asset accounting
https://journals.vsu.ru/econ/article/view/11687
<p><strong>Subject.</strong> Fixed assets provide for various types of activities and make up a significant part of the assets of corporations. The growth and improvement of fixed assets characterise the quantitative and qualitative development of a corporation's technical equipment capacity and ensure its sustainable operation. <strong><br>Objectives.</strong> The requirements for the presentation and disclosure of accounting information are changing due to the challenges of the global and market economy. Therefore, it is important to consider issues related to the recognition, classification, evaluation, and presentation of economic activities related to the flow of fixed assets. <br><strong>Methodology.</strong> The problems related to fixed asset accounting have been studied by many economists from Russia and abroad. A significant number of theoretical works that provoke discussions indicate the need for new approaches to the development of accounting policies and methods of fixed asset accounting in particular. Since corporations use the provisions of the Federal Accounting Standard No. 6/2020 “Fixed Assets”, FSBU 26/2026 “Capital Investments”, and international accounting standards and develop independently their own accounting methods, the accounting policy should be developed with the participation of specialists and people responsible for the presentation and disclosure of information. <br><strong>Results and discussion</strong>. Recognition of a fixed asset item in accounting requires the expertise of specialists who can confirm that this item can be used in the ordinary activities of the company for a period exceeding 12 months and that it can deliver economic benefits. Groups of specialists and documents developed by a corporation to outline the conditions for the recognition of fixed asset items are established by bylaws. When recognising a fixed asset item, it is particularly important to determine inventory items and to group them. This is performed by the units of the organisation that ensure the ability of this item to bring economic benefits. If the items meet the conditions for the recognition of fixed asset items, the accountant determines the historical cost of the item. The application of the revalued cost of fixed asset items in accounting, based on the International Financial Reporting Standards (IFRS) 13 “Fair Value Measurement” and (IAS) 36 “Impairment of Assets”, ensures the reliability of financial statements. In case of assets that meet the recognition requirements, but whose value is below the limit established by a corporation, the control of the asset's availability and flow is also regulated by a bylaw. <br><strong>Conclusions. </strong>The results of the study can be used by corporations to develop accounting policies related to the systematisation and disclosure of information on fixed assets.</p>Natalia G. SapozhnikovaNatalia S. PonomarenkoMaria V. Tkacheva
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-29412814310.17308/econ.2023.4/11687Economical and statistical analysis of the basic parameters of sustainable development of leading Russian regions
https://journals.vsu.ru/econ/article/view/11663
<p><strong>Subject.</strong> Sustainable development of Russian regions. Basic parameters of sustainable development of Russian regions in three spheres: economic, social, and environmental. <br><strong>Objectives. </strong>To determine the regions with similar social, economic, and environmental parameters reflecting their level of sustainability and to group them into virtual clusters. To develop a methodological approach to the analysis of the basic parameters of sustainable development of leading Russian regions and to determine the points of stabilisation and destabilisation for these regions. <br><strong>Research methods.</strong> Dialectical method, monographic method, comparative analysis, structuring of an array of information - virtual clustering method. Using the dialectical and monographic methods to assess the sustainability of Russian regions, we justified the use of 10 parameters characterising the economic, social, and environmental subsystems of Russian regions. The information array included data about 82 regions for the period between 2017 and 2021. In the study, we calculated the average values of sustainability indicators for each region over the said time period. The regions were grouped using the k-means algorithm and the Statistica software. The degree of sustainability of clusters was assessed based on the sum of mean normalised values of the analysed parameters. A comparison of the mean normalised values obtained for each cluster with mean values for each cluster and each parameter allowed us to determine the points of stabilisation and destabilisation for the leading clusters. <br><strong>Results and discussion.</strong> By dividing the regions into groups, we managed to form six homogeneous clusters with a high degree of reliability. They differ in their structural composition of the studied parameters reflecting the level of development of social and economic subsystems of the regions comprising the clusters. The sustainability of clusters was assessed based on the sums of normalised values of the analysed parameters. The leading clusters are A and B. They are far ahead of the medium cluster C. Clusters D, E, and F form a group of outsiders. Economic, social, and environmental parameters were used to determine the points of stabilisation and destabilisation for the leading clusters.</p>Anna Y. KosobutskayaVera N. SerdyukKonstantin V. Soltis
Copyright (c) 2023
https://creativecommons.org/licenses/by/4.0
2023-12-292023-12-29410211410.17308/econ.2023.4/11663