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On the issue of improving the efficiency of financing of business entities and the transfer pricing

Sheina E.G. Ural State University of Economics (USUE), Yekaterinburg, Russian Federation ( )

Astanakulov O.T. Tashkent Institute of Finance (TIF), Tashkent, Republic of Uzbekistan ( )

Journal: Finance and Credit, #10, 2019

Subject This article examines the economic relations of economic entities regarding the formation and distribution of profit through the transfer pricing mechanism within a group of associated enterprises.
Objectives The article aims to show new approaches to the transfer pricing mechanism use in order to form and distribute the profit of business entities, including the self-help capabilities of holding structures, and small and medium-sized enterprises, as well.
Methods For the study, we used deductive reasoning and the methods of structural, logical, and content analyses.
Results The article classifies the business entities by range of activity and peculiarity of financial resources formation. It shows the role of transfer pricing as a tool for managing the profits of business entities and proves the hypothesis of possible mobilization of own financial resources in holding structures, as well as small and medium-sized enterprises through the transfer pricing mechanism.
Conclusions and Relevance The application of transfer pricing helps business entities improve the efficiency of financing, maintain financial stability and balance. The scope of the results helps reveal the financial problems of business entities and influence the financial outcome of their activities.

Assessing the level of pricing discretion in the electricity market (the case of the Ural zone)

Fedorova E.A. Financial University under Government of Russian Federation, Moscow, Russian Federation ( Ecolena@Mail.Ru )

Sheina K.I. Universitat Autonoma de Barcelona, Voronezh, Russian Federation ( )

Journal: Economic Analysis: Theory and Practice, #34, 2014

The wholesale electricity market includes the bilateral contracts market and the day-ahead market. For generated energy purchase and sale the bilateral contracts market uses both regulated and deregulated prices (for regulated and free bilateral contracts respectively). Over 2013 the regulated contracts have accounted for about 15% of the total transaction volume. In this paper we have checked a hypothesis as to the level of "liberty" of the electricity market. A characteristic feature of a competitive market is that the demand and supply factors determine prices. Therefore, if these factors are significant, the market is competitive. We used such factors as generation and consumption (actual and planned values), margin, a difference between the actual and planned consumption value ("deviation"), oil and gas prices and some climate determinants as demand and supply determinants. We have obtained the data from the official site of the UES System Operator. In our estimation, we used daily data for the period from 2010 to 2013. With a help of regression, we found meaningful determinants. Our conclusion is that such factors as temperature deviation, oil and gas prices, lagged price and dollar exchange rate determine the variation of the resulting indicator by about 80%.

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