ECONOMIC THEORY
This article deal with the discussion between F. Hayek and P. Sraffa in the 1930s. This piece of the history of economic thought is not presented in the Russian-speaking literature. The main method is a content analysis. The directions of criticism Hayek’s business cycle theory by Sraffa and the response towards is analyzed in the paper. The author compared the opponents’ approaches to the essence of the equilibrium, to the savings-investments equality, to the possibility to lose capital as a result of malinvestments, to the role of expectations, and to the natural rate of interest. A version was offered for explaining the ineffectiveness of Hayek's answer to the question on the multiplicity of natural interest rates and the reasons why the barter economy has been perceived as theoretical basis of the Hayekian analysis. It is the inaccurate wording of the natural interest rate and the representation the theory within the framework of the equilibrium paradigm. The findings of the research may be applied to analyze the impact of interest rate regulation on the economic.
The crisis of 2008 was a surprise for both the neoclassical and the Marxist branches of economic science, which could not predict the exact timing of its onset. The crisis contributed to the revival of interest in the «Capital» of Marx, whose model can be brought into line with the modern level of natural sciences. General economy – a hierarchical multi-level model of the market economy – a significant «upgrade» of the «Capital» of Marx on the basis of the method of constructing the genome of biological species (in it the commodity is not a «cell» but a «DNA molecule») – explains the various micro- and macroeconomic processes in including crises. The model contains an algorithm for forecasting global crises. The crisis is the result of periodic overaccumulation of capital. Harbingers of absolute overaccumulation, or global crisis are investment growth, employment growth, lower investment growth rates, unemployment reduction, and wage growth. Such dynamics of the linkage of indicators was observed in 2003–2007. It serves as a basis for forecasting the crisis and developing an indicator of the danger of the crisis.
The article presents an analysis of the features of the new stage of development of the information economy, named by the authors as the Information-Digital Economy (IDE). The approaches to the formation of the concept of the IDE are presented, its main parameters (information-digital technologies, benefi ts, capital, rent) and realization mechanisms (digital platforms) are considered. Based on the analysis of the development trends of the IDE, a conclusion was made on the formation of the Global Hybrid Organized Space (GHOS).
The article reveals the deterrent eff ect of the scientometric factor on the development of economic research based on the analysis of publication activity in American economic journals. The main trends in the development of modern economic research are systematized. It is shown that publications in the top fi ve journals in the United States infl uence the direction of research in the economy, career paths and the reputation of young researchers, decisions of funding agencies, as well as the ratings of departments and universities. Differences in citation rates between the top fi ve journals and other top-level journals are noted. It is shown that the orientation to publications in the top “five” as the main scientometric indicator stimulates careerism and restrains the development of new ideas. Possible ways of overcoming the existing institutional trap are considered.
FINANCIAL STUDIES
During the 80s and 90s of the 20th century, economists investigated a lot of phenomena that were called market anomalies. One of strategies, based on market anomalies, was a high-dividend investment strategy. The main criterion for the selection of shares in this strategy is their high dividend yield. This paper tests the hypothesis that the anomaly associated with high dividend stocks, which was detected in the American market until the beginning of the 21st century, has ceased to exist at present, and also examines the possibility of improving the results of highly dividend strategies by modifying them.
BRANCH AND REGIONAL ECONOMY
According to the concept of the life cycle, each stage of development is characterized by its organizational and financial characteristics, «crises», problems, tasks. Proceeding from this, it is advisable to consider the stages of the life cycle as a function that depends on a certain set of determinants. The goal of this research is — to identify the factors on the basis of which it becomes possible to understand the company's movement through the stages of the life cycle, using the model of ordered choice. With the help of the results obtained, investors and other interested persons will be able to estimate the probability of finding an organization at a certain stage of development on the basis of publicly available information and take a more reasonable management decision, since there are significant differences in the characteristics of companies for each stage.
The subject of this article is forensic accounting (forensic hereinafter) - new type of services of Russian consulting and audit practice. Forensic is under consideration as a way of independent investigations conducting and illegal actions risk management. Forensic involves investigation of fraud schemes and fraud detection of illegal withdrawal of assets or misappropriation. It can resolves confl icts of interest issues as well as detects violations of anti-corruption legislation. Furthermore forensic focuses on evidence gathering, assessment of damage, and assistance in planning and implementing further steps to recover damages and strengthen internal control systems. The purpose of the article is to reveal the main analytical methods of forensic examination. The article discloses a brief review and description of the main fi - nancial investigations methods of fraud (forensic accounting examination) in companies. The issues under consideration are relevant for Russian consulting and audit practice, where forensic is on initial stage.
This work aims to analyze the current development of social entrepreneurship in Russia, identify the characteristic features that accompany the development of the phenomenon, and analyze the financial sustainability of modern Russian social enterprises. For this purpose, a comparative analysis of the aggregate of social enterprises, supported by a specialized fund in 2015 is used (data provided by SPARK database). Within the framework of the research, the composition, direction and term of life of social and entrepreneurial projects are analyzed. The study showed that at the current time the analysis of the activities of many social enterprises is significantly hampered by their chosen organizational and legal form of activity, many enterprises are unstable or have ceased operations. This result allows us to conclude that there is a need for comprehensive and long-term support of social and entrepreneurial projects.
PROFESSOR’S TRIBUNE
The purpose of the paper is to reflect the features of the methodology of teaching issues of the impact of business differentiation on the management of a business organization. The article provides a set of pedagogical techniques used by the author of the article in the course of his fourth year undergraduate course in the course “Business Management”. The subject of the article is the methodology of teaching students an approach and ways to identify and identify the diversity of market behavior by a business organization, depending on a number of key market factors that form this diversity. The article presents a business positioning matrix developed by the author as a key analytical tool.
ACADEMIC LIFE
The article presents an overview of the materials of the annual scientific conference «Lomonosov readings-2019», reflecting the reports made at the section «Individual and work in the digital economy», dedicated to the significant date — the 100th anniversary of the International labour organization (ILO). The speakers actively discussed the development of social and labor sphere of modern Russia, its future in the conditions of digitalization and humanization, the problems of formation and development of human potential and transformation of labor relations in the digital economy, as well as prospects and risks in the regional, sectoral and corporate labour markets in connection with digitalization. The discussions identified and justified the need to consolidate efforts to establish an Association of labor economists, to continue the tradition of holding annual international inter-University scientific conferences for the exchange of scientific ideas and consistently project the position of the ILO in science, practice and in the teaching process.