The main characteristics of methodological individualism as an approach used in economics to the study of social phenomena are revealed and the associated with it way of presenting accumulated knowledge. The authors show how methodological individualism is positioned in economics where Lakatos' research programs compete with each other. The study examines possible limitations in applying methodological individualism to relations between people mediated by language as a means of communication, including in the light of socialization processes, as well as in the light of differences in the research process and the way of presenting its outcomes. The authors show that with the spread of technologies based on artificial intelligence, the question of whether self-learning algorithms successfully passing the Turing test should be considered as a challenge for applying the traditional understanding of methodological individualism in future economic research. Methodological individualism is one of the important issues in the modern methodology of economics, in the light of which the paper discusses various aspects of the relationship between methodological holism and individualism.

Since 2014, the Bank of Russia has switched to a floating exchange rate and inflation targeting. From that moment the key interest rate, that is, the interest rate of the interbank market, became the main instrument of monetary policy in Russia. At the same time, the question arises: does the policy of the Bank of Russia really contribute to stabilizing inflation? In other words, it is important for policy makers, as well as private economic agents, to understand whether the rate changes sufficiently to stabilize the deviation of inflation from the target. Thus, the task is reduced to the study of the monetary policy rule: the Taylor rule in Russia during the period of inflation targeting. Estimates of the Taylor rule allow us to see the nature of both the systematic reaction of the regulator and the discretionary one. Thus, the task of the study is to consider the systematic and discretionary reaction of the Bank of Russia in response to the deviation of inflation from the target and the output gap based on the Taylor rule. The work is also motivated by the fact that, based on the results of recent research, the basic least squares method can be used to solve the problem. So, to analyze the systematic reaction of the regulator, we evaluate the standard formulation of the Taylor rule using OLS. To analyze the role of the discretionary component, we consider monetary policy shocks as innovations of the Taylor rule. Using the local projection methodology, we estimate the impulse responses of the inflation components of consumer and industrial goods to identified monetary shocks based on the Taylor rule. The results of the assessment indicate the implementation of the Taylor rule in Russia during the period of inflation targeting. The findings indicate an active stabilizing systematic reaction of the regulator in response to the deviation of inflation from the target. Estimates of impulse responses show a decrease in the inflation components of consumer and industrial goods in response to the restraining shock of monetary policy.

The concept of crowdfunding has been actively developing over the last ten years, moving to an established form of alternative finance for startups and small and medium enterprises. As a classical two-sized market, crowdfunding provides interaction between entrepreneurs and investors through an Internet platform. In Russia, this type of funding is just emerging, but has already faced a decrease of investment activity due to fund loses on these platforms. The purpose of this article is to create a new crowdfunding model, which refers to the classical approach of its formation and offers opportunities for the investors interests protection in Russia, increasing their professionalism and, as a result, the image of Russian alternative finance market. The methodological basis of the work is a systematic analysis of the economic literature, international and Russian legal framework, and statistical data. As a result there were identified and analyzed perspective crowdfunding models and legislative features of investors protection on foreign and Russian alternative finance markets. On this basis, authors created a model adapted to the Russian market, which includes in the crowdfunding process the investors communities - organizations "filters", whose activities are connected with investors registering and checking companies using deep due diligence. The implementation of the model at the state level will reduce the funds loss due to the lack of financial literacy among investors and effective selecting companies system among platforms. The results of the study can become the basis of legal acts, strategic concepts and governing regulations of investment activity.

The objective of this article is to reveal the most demanded competencies for senior management personnel and to discuss the methods and approaches for assessing such competencies within the framework of Open Mass Personnel Contests (OMPC). The article provides an overview of modern research on competencies of business leaders, as well as literature on approaches to assessing the competencies of civil servants: the focus of researchers is increasingly shifting to the skills and abilities of a manager to create value through conscious interaction with the team and stakeholders. The paper presents the approaches to assessing competencies of candidates for senior management positions at the contest «Leaders of Russia». It is shown that, other things equal, persons representing senior management personnel in large organizations were more successful than other groups at different stages and were more likely to win the competition. This indicates that the procedures of the competition, most likely, contributed to the achievement of the main goal - the selection of people with competencies corresponding to the top management. Basic socio-demographic characteristics (gender and age) were not associated with the success of the selection process. The author concludes that an open competition with a transparent way of assessing competencies using different methods both allows to select promising managerial personnel and ensures inclusiveness in the selection for senior positions. At the same time, factors such as correct conducting of all stages of an OMPC, ensuring sufficient quality and quantity of candidates at the entrance, and careful selection of competency assessment tools are of great importance.

Despite the growing interest in talent management issues, there is still no consensus in the literature regarding the characteristics and features of talented employees work behavior. One of the approaches stands out as an objective view postulating that there are a set of personal characteristics, which determine an employee as a talented one and influence their labor behavior. This research attempts to identify a list of these personal characteristics and assess their impact on work behavior. The list of characteristics incorporates personality dimensions contained in the Big Five model. As a form of labor behavior is voluntary resignation. The research empirical base is the data on the talent management program at Sheremetyevo International Airport. We constructed econometric probit model, where the fact that a talented employee voluntarily quit during the first year of employment was used as an explanatory variable. The focus on resignations in the first year is related to an attempt to reduce the influence of factors that form sustainable attitudes towards job characteristics — satisfaction and loyalty to the organization. The set of independent variables is represented by organizational and socio-demographic characteristics in addition to personal characteristics. The results confirmed the hypotheses on the influence of higher values of openness to experience, conscientiousness, neuroticism, and extraversion, regardless of the organizational context, on the probability of voluntary turnover. The findings provide an empirical assessment of the objective approach to talent in the Russian labor market and can be used for verification in other corporate contexts or while trying to assess their sustainability with a longer work experience. In practical terms, the findings can be used to develop personalized talent management practices in Russian companies.

The main aim of this research is to identify the differences between a deliberate security strategy and an emergent one. The objective of the study is to demonstrate these differences using the case of an energy security strategy, to determine the main reasons for deviations and to formulate a methodological apparatus for assessing strategic documents. To explore an emergent energy security strategy (as a set of actions by decision makers), the authors suggest to make the analysis  the events mentioned in the media (press events) and the amendments to legislation (real actions of decision makers in response to external challenges and threats) made in accordance with actual national security objectives. The authors monitor press events based on keywords that identify the main energy security objectives in accordance with the relevant legal and regulatory framework. In order to test the hypothesis related to legislation, amendments authors disclose the correlation between the selected indicators using a model of linear regression with one regressor. The study distinguishes the differences between deliberate and emergent energy security strategies; analyses legislative amendments that reflect the real efforts of the authorities; in addition, the study analyses legislative amendments aimed at ensuring security; distinguishes  the differences between a deliberate strategy and the actual actions of the authorities in the legislative sphere; formulates provisions for an emergent strategy reflecting the real actions and interests of the authorities. The authors reflect the reasons for the differences between deliberate and emergent strategies. The authors build a hierarchy of objectives for an emergent strategy that defines the actual priorities for energy security: domestic economic security, external economic security, tax security, environmental safety. Empirical application of methodological approaches to identifying differences between deliberate and emergent strategies is relevant for participants in investment processes (enterprises and entrepreneurs) as well as for the legitimately elected authorities, with a view to properly reflecting strategic course of actions in official documents in order to ensure the stability of the internal and external political situation.

The development of the pharmaceutical industry is inextricably linked with the development of new types of drugs, the introduction of new technologies, the provision of scientific research in bioengineering and biotechnology, which can be ensured through the continuous development of intellectual capital. Intellectual capital is a capacious and ambiguous concept that, other things equal, is explained by the presence of professional skills and competencies of employees that cannot be separated from them and, therefore, are reflected in the financial statements. For a long time, researchers have been evaluating the impact of intellectual capital on the performance and value of companies in various sectors of economy. This article attempts to look at the problem more broadly by adding the factors inherent in sustainable development and competitive advantages of the company: business model and business strategy to the traditional elements of intellectual capital. The purpose of the work is to assess the impact of  business strategy, business model and intellectual capital components on the performance of pharmaceutical companies in Russia. The object of the study is the financial and non-financial reporting of Russian pharmaceutical companies. The subject is establishing the relationship between the disclosure of information on intellectual capital and financial performance, taking into account the business strategy and business model of the company. The methodological basis is the statistical and economic method, namely, the regression of panel data with fixed effects. The results show that most  large companies in pharmaceutical sector adhere to the business strategy of “analyzers” and choose the business model of producers of their own drugs. The findings indicate no connection between the company's business strategy and business model and the performance of pharmaceutical companies. Elements of IC have been established that provide competitive advantages for the company in pharmaceutical industry.

The article examines the competition between Russian and foreign manufacturers of road construction equipment in Russia. The subject of the research is strategies for the transformation of business models of manufacturing enterprises in developing countries and emerging markets under the influence of multinational corporations. The methodological basis of the research includes theoretical provisions of strategic management, concepts of business models and economics of industry markets. The paper defines business model transformation strategies  based on the application of the co-evolutionary concept of innovation in the business models of companies in developing countries by O. Michalache and H. Volberd, methods of economic statistics and one-factor analysis of variance. The authors put forward and test the hypothesis that international cooperation with foreign companies increases the competitiveness of Russian manufacturers of road construction equipment. Calculations in the SPSS program show that companies outside international cooperation have low market share indicators. Average competitive positions in the road construction equipment market are typical for companies importing parts and components from leading foreign manufacturers. Companies that have established joint ventures with foreign partners or acquired licenses for the production of road construction equipment from foreign manufacturers have achieved the best indicators of competitiveness in the Russian market. The most successful Russian companies have chosen a strategy for adapting the business models of foreign enterprises. This research is of practical importance for the formation of a business model and competitive strategy of Russian companies in conditions of sanctions isolation from the technologies of developed countries and the growth of imports from developing countries.

The article considers the relationship between the consumer’s emotional state and impulse purchases. The authors analyze the effects of the consumer’s impulse behavior on buying food products. According to numerous studies of consumer behavior conducted in Russia, the share of purchases defined as impulse purchases has been increasing steadily. Insufficient understanding of the specifics and nature of impulse purchases may negatively affect both consumers’ well-being, including their psychological and financial state and companies’ financial sustainability in the long term.

The article aims to improve understanding of consumer behavior in Russia and identify the relationship between the consumer’s emotional state and impulse purchases of food products. Previous research into the topic has allowed the authors to form understanding of impulse purchases and systematize factors influencing them. The effect of the consumer’s emotional state on impulse purchases of food products has also been described.

An empirical study including a series of in-depth interviews and a quantitative survey forms the basis for the present research. To identify the relationship between the consumer’s emotional state and impulse purchases of food products in Russia the structural equation modeling method is applied. As a result of testing several alternative models, differences in the patterns of impulse buying behavior of female and male respondents are revealed. The research confirms that negative emotions significantly affect sensitivity to visual characteristics of products, impulsivity, and unplanned purchasing with both female and male consumers. Positive emotions, in contrast, demonstrate statistical significance with men solely. These findings can be explained by the consumer’s desire to reduce emotional tension and improve emotional state.

The article provides a basis for further research into emotionally driven consumer behavior and improve predictability of purchasing behavior.

The reorientation of Russian tourist flows to domestic destinations under the influence of the COVID-19 pandemic and the aggravation of the geopolitical situation creates opportunities for expanding the supply in the domestic tourist market. Cooperation between regions and cities in the development and promotion of new tour routes and brands, as well as the joining of new participants to existing formats of joint branding, is becoming relevant. Meanwhile, influence of branding on tourism development indicators in literature is still insufficiently covered, with practically no studies measuring the effects of cobranding cities. The purpose of this study is to explore the impact of the participation of cities in the cobranding association on tourist flows to these cities. The authors focus on the activities of brand managers in creating and communicating city brands, while the tourist flow indicator evaluate the activities results. In the framework of the empirical study, a quantitative comparative analysis of two groups of cities was carried out (group 1 — cities included in the Golden Ring cobranding association, group 2 — cities with similar characteristics, but branded independently). The analysis shows a significant correlation between branding and tourist flows in group 1. At the same time, no such relationship is found for group 2. Thus, the  findings suggest that there is a real influence of cobranding strategies on the tourist flows of cities. The results of the study may be a tool to substantiate the feasibility of cities' participation in cobranding associations, which makes it possible to increase the effectiveness of promoting tourist brands of all participating cities.

The article presents a methodology for analyzing the ESG efficiency of Russian cities. According to the authors, ESG assessment of cities is advisable not only when making management decisions, but also when choosing priority projects to improve the quality of life of residents. The purpose of the article is to test the methodology for determining priority projects needed for implementation in Russian cities, taking into account the ESG criterion, as well as to demonstrate a system for ranking cities according to ESG efficiency criteria. The article focuses on the comparison of existing ESG analysis tools of cities. The authors use the methodology of the ESG Index of the VEB.RF as the main tool. The advantage of this Index is determined by its focus on Russian cities. Open database also combines objective and subjective indicators. The article examines the ESG indicators of Yekaterinburg, Pskov and Taganrog. The authors demonstrate that programs for modernization and creation of urban electric transport systems and programs for the construction of social facilities most effectively stimulate the improvement of urban ESG environment and contribute to the sustainable development of Yekaterinburg, Pskov and Taganrog. The ESG rating of Russian cities is presented in the article.

The article discusses the current problems of the development of  organic products market. The theoretical part notes the need to diversify agricultural production not only to maintain income and reduce risks, but also to support soil fertility and high yields, which can also be carried out during the transition to organic farming, when the farmer reduces the level of chemicalization of production in order to reduce externalities. The section of the agricultural policy review analyzes the main factors contributing to the development of organic products market, which include the development of a regulatory framework that creates certain rules and characteristics of organic products, as well as various kinds of subsidies that help both support the production of this type of product and consolidate a certain niche in the market for organic products. The study finds that despite high growth rates of organic market in many developed countries, the profitability of such projects as well as the complexity of the transition from traditional technologies to organic farming is debatable.

Growing tension around Russia in the global economy, the need to reorient foreign trade flows to countries that differ from Russia in cultural and religious aspects, as well as a growing number of publications aimed at studying economic effects of culture, religion and trust, makes it necessary to conduct a comprehensive analysis of scientific literature on the influence of culture and religion on foreign trade activities. Based on the analysis of religious literature and scientific empirical research and using the methods of systematization, generalization, meta-analysis, conceptual approaches of socio-cultural anthropology and cross-cultural psychology, the paper proposes a theoretical justification for the mechanism of the influence of religion and culture on foreign trade. Two approaches to the influence of culture on foreign trade activity are theoretically substantiated. Within the framework of the first approach, the proximity of cultural values contributes to the growth of foreign trade activity. Within the second framework, cultural openness and tolerance for foreign cultures have limited potential to increase mutual trade. Based on the analysis of scientific and religious literature, three groups of channels of the mechanism of the influence of religion on foreign trade are substantiated. The first group of channels, which are based on a person's psychological perception of God and His deeds, includes: influence through the perception of entrepreneurial risk as God's providence and impact through the fear of trading partners before God's punishment for non-fulfillment of obligations. The second group of channels, the mechanism of influence of which is based on the similarity and difference of religious dogmas, includes: influence based on different religious dogmas, influence through the trust of trading partners due to the similarity of religious values and influence through religious openness and tolerance towards other faiths. The third group of channels, the mechanism of which is based on institutional theories, includes: influence through the development of religious competition, the influence of religious institutions as an alternative to weak state institutions and the influence of religion as the basis of trust between trading partners.