The world experience of investment activity shows that economic growth is impossible without an effective national stock market, which contributes to development of the shared economy and to creation of a community of owners. However, in the post-soviet CIS countries stock markets operate mainly as secondary or speculative. These markets do not perform the functions of the developed stock markets. Therefore, the generally accepted theoretical interpretation of stock market's role and functions in the economy has not been proved in practice. There is a contradiction in the priority development of the national secondary stock markets in the CIS countries, whereas the primary share markets are ignored. The author of the paper presents his view on the sociological theory defined as «The Russian Stock Market as a Social Space» which shows the features of the emergence, development and functioning of stock markets. The author pays special attention to the theoretical justification for the formation of new social spaces. The stock market is represented as the social space with its capital, habitus and practices inherent by its actors. A brief comparative analysis of the formation of stock markets in the CIS countries, the United States and the Eastern Europe has been carried out.Подгорний Б. Б. кандидат соціологічних наук, доцент, Південно-західний державний університет, Курськ, Росія Російський фондовий ринок як соціальний простір: теоретичне обґрунтування Анотація. Світовий досвід інвестиційної діяльності показує, що без ефективного національного фондового ринку, що сприяє розвитку економіки участі, і створення співтовариства власників економічне зростання неможливе. Однак у країнах СНД фондові ринки діють переважно як вторинні або спекулятивні, не виконуючи властиві розвиненим фондовим ринкам функції. Очевидним стає протиріччя між загальноприйнятою теоретичною інтерпретацією та практичною діяльністю на фондовому ринку, що виражається в пріоритетному розвитку національних вторинних фондових ринків країн СНД та фактичному ігноруванні первинного пайового фондового ринку. У статті представлено розроблену автором пояснювальну частину спеціальної соціологічної теорії «Російський фондовий ринок як соціальний простір», у якій показані особливості виникнення, розвитку та функціонування фондових ринків. Увагу приділено теоретичному обґрунтуванню формування нових соціальних просторів. Фондовий ринок представлено як соціальне поле з властивими його учасникам капіталами, габітусами та практиками. Проведено короткий порівняльний аналіз процесу формування фондових ринків у країнах СНД, США та Східної Європи. Ключові слова: соціальний простір; фондовий ринок; габітус; капітал; практика.Подгорный Б. Б. кандидат социологических наук, доцент, Юго-Западный государственный университет, Курск, Россия Российский фондовый рынок как социальное пространство: теоретическое обоснование Аннотация. Мировой опыт инвестиционной деятельности показывает, что без эффективного национального фондового рынка, способствующего развитию экономики участия, и...

Public-private partnership (PPP) allows attracting private investment to solve socially important problems of a country. In Europe, the cost of projects with the joint participation of the government and business is estimated at the level of EUR 72 billion over the last 5 years. The United Kingdom is an undisputed leader in the implementation of PPP projects. Having passed through the «free» market stage in the 1990s, Russia is gradually returning to a model in which the government, using various mechanisms and tools, takes an active part in the development of public infrastructure and economy. The article shows the results of a comparative analysis of PPP in the UK and Russia, which will take into account the experience of the UK and may facilitate avoiding undesirable mistakes and their consequences when using PPP in Russia. The main reason for curtailing public-private partnership programs in the UK has been identified: the nature of any business is such that its main goal is making profit, therefore, projects implemented in the UK through PPP mechanism have not always been financially beneficial for the state, but only for the private investors. In Russia, the threat of misleading project evaluation with implied losses for the state is supplemented by the imperfection of the legislation regulation, first of all, regarding the concession activity, which undermines the very idea of attracting investments through the development of the public-private partnerships. It is shown that the Russian population is interested in individual participation in PPP projects. This can contribute to solving some of the identified problems, as well as positively impact the social mood of the population.

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With the growing impact of the Russian stock market on economic processes in the country, there arises a need for detailed and systematic information on various social aspects, including the existing and projected number of investors, their gender ratio, social characteristics and investment behaviour. The article presents data on the gender ratio of private investors, as well as detailed characteristics of Russian females investors and their investment strategies. It is shown that the Russian stock market is moving towards gender balance. The largest number of females investors belongs to the age of 25-34. Most of them live in cities and work as employees of private companies. One half of female investors have an average monthly income per family member of less than USD 350. Nowadays, 25 years after the Russian privatization, about one third of all females investors have a negative opinion about this process and its results. Russian females investors have gone through the following investment strategies: about 40% have stopped operations, becoming formal investors; about one third have opened individual investment accounts; the others are divided into the following categories: investors, inactive traders, intraday traders and scalper traders. There exist at least two problems, the solution of which will contribute to the development of the market and increase the number of private investors. They include a limited number of issuers whose shares are available on the organized Russian stock market and the lack of offers to invest in real projects.