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Profitability of chemical industry enterprises in the turbulent economy: Modeling by form of ownership

Spitsyn V.V. National Research Tomsk Polytechnic University (TPU), Tomsk, Russian Federation ( spitsin_vv@mail.ru )

Trifonov A.Yu. National Research Tomsk Polytechnic University (TPU), Tomsk, Russian Federation ( atrifonov@tpu.ru )

Ryzhkova M.V. Tomsk State University (TSU), Tomsk, Russian Federation ( marybox@inbox.ru )

Spitsyna L.Yu. National Research Tomsk Polytechnic University (TPU), Tomsk, Russian Federation ( s_luba_07@mail.ru )

Journal: Economic Analysis: Theory and Practice, #9, 2018

Importance The article considers the efficiency (profitability) of industrial enterprises in Russia and contributing factors under turbulent economy and adverse external environment.
Objectives The study focuses on simulation of factors influencing the profitability of Russian, foreign and jointly owned enterprises operating in the chemical industry. We ran simulation under unstable economy for 2012–2016.
Methods The study draws on regression analysis of panel data, boxplots and analysis-of-variance methods to identify differences between groups of enterprises.
Results The boxplots and variance analysis demonstrate a decrease in return on net assets of Russian chemical industry enterprises in 2013–2015 and negative impact of debt. Regression models proved highly significant negative impact of debt capital on net profitability of assets of enterprises of all ownership forms. We revealed negative impact of a fall in exchange rate of the national currency on return on assets, which is especially true for foreign- and jointly owned enterprises. We also established similarities and differences in the impact of various factors on return on assets between the total sampling of enterprises and foreign-invested enterprises.
Conclusions The share of borrowed capital is one of the main factors affecting the profitability of chemical industry enterprises. The Federal government should channel efforts to reducing the cost of loans for businesses. Owners of foreign-invested enterprises should avoid using foreign currency loans under unstable economy of the host country, as they may cause losses during crisis periods.


Assessing the complex efficiency of socio-economic well-being of the population for government regulation purposes

Spitsyna L.Yu. Tomsk Polytechnic University, Tomsk, Russian Federation ( s_luba_07@mail.ru )

Spitsyn V.V. Tomsk Polytechnic University, Tomsk, Russian Federation ( spitsin_vv@mail.ru )

Journal: Economic Analysis: Theory and Practice, #16, 2015

Importance The global economic science recognized the leading role of socio-economic well-being of the population in the assessment of the quality of national systems' economic development. Therefore, the issues related to evaluation techniques for the well-being creation process and its determining factors are extremely important. These issues are particularly significant for the countries, which are behind the leaders in terms of generally accepted standards of socio-economic well-being, but which are willing to change the situation.
     Objectives The objective is to develop a methodological approach to the formation of the system of indicators to assess the well-being of the population, which is aimed at government regulation.
     The paper considers foreign approaches to assessing the well-being of the population, and offers a unique approach, which applies the methodology of complex efficiency in the context of socio-economic well-being of the population.
     Methods
We applied such research methods as structuring, typology, comparison, analogy, and systems analysis. We developed and used a unique methodological approach to the integrated assessment of the effectiveness of complex social and economic objects.
     Results
We have classified the indicators of socio-economic assessment that exist in the world practice. The study shows the need to apply a system approach and the methodology of assessing complex efficiency when analyzing the socio-economic well-being of the population, as they enable to identify and investigate the object more accurately. As a result, it is possible to research the entire system of building the socio-economic well-being of the territory, rather than its individual component (population). In addition, it is possible to investigate the optimality, effectiveness, and efficiency. We demonstrated the application of the methodology at various stages of government regulation of socio-economic well-being of the population.
     Conclusions and Relevance We conclude to that to develop adequate measures of State influence on socio-economic well-being, it is necessary to apply a system approach to the study of this phenomenon, as well as a methodology of assessing the complex efficiency, including optimality, effectiveness and performance criteria.


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