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Trends in corporate environmental responsibility development

Voskanyan R.O. Plekhanov Russian University of Economics, Moscow, Russian Federation ( )

Journal: Finance and Credit, #6, 2019

Subject The article investigates States and economic sectors, where the biggest number of corporations have to observe environmental requirements.
Objectives The purpose of the study is to identify key trends in ecological responsibility of public companies in developed and developing countries to establish the most promising directions for development of environmental responsibility in Russia.
Methods The study employs general scientific methods of cognition (analysis and synthesis, comparison, expert estimates) and specific research methods (graphical, statistical, economic and mathematical).
Results The paper shows modern tendencies of corporate environmental responsibility, like the growth of market value per share of the largest companies that are environmentally responsible, the leading role of companies in the financial sector of the economy, the importance to implement corporate environmental responsibility by companies operating in the consumer sector. Corporate environmental responsibility is most prevalent in the leading States of the EU in developed markets, and in the BRICS countries in emerging markets.
Conclusions The negative impact of macroeconomic risks prevents Russian companies from being the world leaders in terms of capitalization and allocating considerable financial resources to projects within the framework of environmental responsibility. Involvement in the concept of sustainable development will enable Russian companies to increase the level of confidence of foreign investors. The activity in this area may include environmental projects carried out jointly with international business partners and the transformation of production and sales activities to minimize the carbon footprints.

Implementing a strategy of innovation company value growth through conglomerate mergers

Voskanyan R.O. Plekhanov Russian University of Economics, Moscow, Russian Federation ( )

Journal: Economic Analysis: Theory and Practice, #1, 2015

Importance Formulation and implementation of innovation company's value growth strategy allow extending the life cycle of its activity at different stages of development, contribute to financial stability, and in future will have a positive effect on the financial benefit of owners, investors and others stakeholders interested in the company's performance.
     Objectives The objective of the paper is to study conglomerate deals as one of the tools of implementing the value growth strategy of an innovation company.
     Methods I have analyzed statistical information on Russian innovation development. I used the economical and statistical methods to estimate the growth trend in the volumes of the Russian market of mergers and acquisitions, which allows predicting further growth of this market through internal transactions.
     Results I have identified the specifics of conglomerate mergers of innovation companies and proposed performance criteria of conglomerate mergers.
     Practical Application This paper may be of immediate interest to financial managers of Russian innovation companies searching for practical solutions while formulating and implementing the strategy of company value growth, assessing the effectiveness of conglomerate deals in various sectors of the Russian economy, and designing financial and investment policy at various stages of innovation company's development.
     Conclusions I conclude that conglomerate deals increase the soundness of an innovation conglomerate company, increase its market share, enable to increase the value of goodwill, which, in general, is closely correlated with company value.

A methodological approach to determine a rate of insurance against natural disaster risks

Voskanyan L.R. State University of Management, Moscow, Russian Federation ( )

Journal: Finance and Credit, #9, 2015

Currently, insurance against natural disaster risks in the Russian insurance market is covered within general property insurance. However, natural disaster risks are underestimated in the structure of general property insurance. One of the reasons is the absence of insurance rate specification and methods of its determination. Due to the fact that the property insurance tariff structure does not distinguish the rate of insurance against natural disasters, the probability of occurrence of the insured event (natural disasters) is not taken into account. Another key reason for the lack of separate insurance against natural disasters is non-availability of methods to determine the rate of insurance. It is impossible to apply the traditional method of determining rates of insurance against natural disasters risks on the basis of statistical data on losses in past years as such risks are rare, and losses resulted from the attachment of risk are huge. Therefore, the rate of insurance against natural disaster risks should be based on the calculation of potential loss. This article describes the method of calculating the rate of insurance against natural disaster risk based on the method of potential loss estimation as a result of loss occurrence. The proposed method takes into account such factors as probability of natural disaster occurrence; number of houses (households) in the area that is prone to natural disasters; the degree of property destruction depending on the power of the event; average cost of property per one household. This method serves as a basis of catastrophic events modeling. Insurance companies may apply the method to determine the cost of insurance against natural disaster risks.

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