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Integration processes in the exchange environment: problems and development prospects

Sycheva A.A. Rostov State Economic University (RINH), Rostov-on-Don, Russian Federation ( alina__sycheva@mail.ru )

Journal: Finance and Credit, #44, 2014

The article stresses the relevance of stock exchange consolidation problems existing at present time as many stock exchanges and exchange groups are in the process of consolidation. However, not only stock market is subject to integration processes, but also the economies of different countries in general. Therefore, it is fair to say that consolidation of stock exchanges is a natural stage of the global stock market development. The author describes integration processes in the stock market, reviews consolidation on various exchange platforms, and identifies the main trends in stock exchange merger. The author also suggests an idea about creation of a unified trading platform. The main advantage of stock exchange mergers is capital mobilization. Consolidation results in pooling equity capital, and this serves as an additional guarantee for stock exchange investors. Moreover, positive news and improved financial performance attract more investors to the market. The stock exchange becomes more competitive and enters the global market. Therefore there is an inflow of not only national, but also foreign capitals. There is a decrease in transaction and operational costs of investors, as well as a reduction in expenses for clearing. At the same time, the stock exchange extends its services, has an opportunity to trade in new instruments, and offers a wider choice of exchange products traded on one platform, which promotes cost saving. Through mergers, stock exchanges share their gained experience, improve the technique and mode of trading and enhance their technical system. In fact, they improve their performance in various areas, standardize the scheme of trading and trade settlements. This factor is positive for both the stock exchange and investors.


Assessment of tax and nontax revenues in the municipal budget with different options for vacant land use

Sycheva I.V. Tula State University, Tula, Russian Federation ( sychova15@mail.ru )

Gaidarzhi S.I. Tula State University, Tula, Russian Federation ( rector@tsu.tula.ru )

Journal: Finance and Credit, #38, 2017

Importance In this article, we cover the main aspects of our own approach to choosing the management of land that is classified as municipal property.
Objectives We aim to study the practice of generating tax and nontax revenues from the use of municipal land and develop a methodological approach to the rationale for choosing an effective use case based on an assessment of possible tax and nontax revenues in the municipal budget.
Methods For the study, we used the historical and systems approaches, and the methods of analysis, synthesis, and statistical analysis.
Results The article identifies the problems of valuation of municipal land parcels and proposes a mechanism to search for an equilibrium point of tax and nontax revenues in the local budget under different options for the unoccupied land use for the subsequent development of management decisions.
Conclusions To find a rational use of each free land of municipal ownership, it is necessary to apply the conceptual provisions of economic and organizational modelling of financial flows. This will help to reconcile the economic interests of the municipality as well as the individuals or legal entities volunteered to acquire or lease the plot of land.


Evolution of methodology and the current issues of development of the investment component of social public programs

Gaidarzhi S.I. Tula State University, Tula, Russian Federation ( rector@tsu.tula.ru )

Sycheva N.A. Tula State University, Tula, Russian Federation ( sychova15@mail.ru )

Journal: Finance and Credit, #37, 2017

Importance The issue of budget formation at various levels in Russia has become a topical one in recent years. The need to maximize the returns of huge budget expenses requires the interpretation and conceptualization of public welfare investment methodology.
Objectives The paper aims to study the development and current state of the methodology for the formulation of social public programs aimed at the rational use of budgetary resources provided for social infrastructure funding.
Methods For the study, we used the historical and systems approaches, and the methods of analysis and synthesis.
Results The paper studies the history of the methodology of State-sponsored (target) programs since 1995, presenting the ones of the Russian Federation, its constituents and municipalities. We have developed a consolidated structural model of public programs of the RF constituent entities as part of the capital expenditures on social infrastructure. As well, we identify certain methodological problems of developing an investment component of public social programs.
Conclusions The main methodological problems of socially focused public welfare investment can be divided into four components, namely, methodological, content, public, and the financial ones. Their further differentiation would help suggest the main areas of improvement in the methodological tools for the planning of social infrastructure development.


Digital transformation of regional economy as a strategic potential of its development

Sabinina A.L. Tula State University (TulSU), Tula, Russian Federation ( fim@tsu.tula.ru )

Izmalkova S.A. Tula State University (TulSU), Tula, Russian Federation ( izmasvetlana@yandex.ru )

Sycheva I.V. Tula State University (TulSU), Tula, Russian Federation ( sychova15@mail.ru )

Journal: Economic Analysis: Theory and Practice, #6, 2019

Subject We consider the digital transformation of regional economy as a strategic potential of its development, enabling to make sound management decisions on the basis of big data exchange.
Objectives Our purpose is to develop an integrated approach to implementation of digital transformation project in high-potential economic sectors and in the social sphere of the region, including the State and municipal management.
Methods We employ methods of economic and statistical analysis, the theory of integrated entities, and expert estimates.
Results The paper substantiates the list of key actors to implement digital transformation project in the regional economy. These actors have a potential for integration and cooperation at various levels of interaction in big data exchange. We offer a methodological approach to developing a distributed partnership system to unlock the potential of the economy in the interests of regional digital platform creation. We also present an organizational model for the formation of a distributed partnership system to implement the digital transformation project in economic and social sphere of the Tula Oblast.
Conclusions There is a need for qualitatively new digital transformation of managerial, industrial, scientific, educational and other business processes, using the new-generation intelligent information systems. These systems enable the participants of a regional digital platform to exchange big data to make sound management decisions in the interests of strategic development of the territory.


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