The manufacturing industry makes a significant contribution to Russia’s GDP and exports, but it faces problems that hinder its development. The aim of this study is to estimate the relationship between intellectual capital and performance indicators of Russian manufacturing companies. The study analysed a sample of 23,494 observations of Russian manufacturing companies for the 2017–2020 period. The value-added intellectual coefficient (VAIC) and its components were used to evaluate the impact of intellectual capital on firm performance using polled ordinary least squares, fixed, and random effects models. Intellectual capital significantly and positively affects the performance of companies in both structural and human terms—both through the integrated coefficient VAIC and in the context of individual components of intellectual capital. However, the impact of structural and human capital on performance indicators is significantly lower than the impact of capital employed. There is a distinct focus of enterprises on making profit through the use of company assets, while in the case of Russian manufacturing companies, the potential for profit generation from structural and human capital remains unfulfilled.

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Subject. The article addresses relationship between intellectual capital and operating efficiency of IT companies. Objectives. Our aim is to conduct econometric analysis of the impact of intellectual capital and its individual elements on the profit margin of Russian IT companies. Methods. We employ methods of econometric analysis. The sample comprised 323 IT companies operating in Russia from 2016 to 2020. Results. We built two blocks of linear regression models with random and fixed annual and panel effects. For models of the first block, were selected indicators of structural (SCE), human (HCE), relational (RCE) capital efficiency and capital employed efficiency (CEE) as exogenous variables. The regression analysis showed that CEE and SCE have a significant positive effect on profit marginality. For models of the second block, we used a complex indicator, combining SCE, HCE, and RCE. We established that intellectual capital in general is positively associated with gross profit marginality of Russian IT companies. Conclusions. The study revealed that Russian IT companies effectively use the supporting intangible infrastructure and total assets. However, human capital, being the most significant resource of this industry, is used inefficiently and provides no potential for profit. Relationships with counterparties (consumers, suppliers, and other stakeholders), expressed in RCE, did not show a significant relationship with profitability either. Practical application of the findings may help improve business processes and management of intangible resources of IT companies.

For the development of any country, everything in the country's economy needs to work at the highest level. This article is devoted to the system of direct taxation in Ukraine. It is determined that the main document regulating taxation is the Tax Code of Ukraine. The Tax Code clearly states that the tax is a mandatory, unconditional payment to the budget received from taxpayers. The direct taxation system in Ukraine could be better, but a number of problems prevent it from functioning fully. Direct tax is important for the activities of producers of various goods. The system of direct taxation in the world occupies a significant niche, in turn, as in Ukraine. Therefore, for development, it is necessary to start relying on the experience of the countries of the World. From this we get that it is important to reform the taxation system in Ukraine, starting with direct taxation. The direct tax system has many benefits that do not allow obtaining financial resources in full. Analyzing the data on the consolidated budget in Ukraine, it can be noted that it is formed from 80% of tax revenues. This is not enough by European standards. This suggests that in Ukraine the suboptimal structure of the revenue side of the state budget. Examining the factors influencing the system of direct taxation of individuals and legal entities, it was found that the most important qualitative factor from the standpoint of fiscal orientation is the level of tax evasion. The problem of taxation at all times, and especially in our time and for our country is extremely relevant, because it is taxes that are the source of income to the state, without which no country can exist. Direct taxes and are the basis for taxation. Direct and indirect taxes are also important for tax culture. Tax culture is important for effective tax collection. This can be explained by the receipt of income and income taxes, which depend on the correctness of the declaration of these incomes. In European countries, declaration is a prerequisite for every citizen, and public morality is focused on condemning those who hide something. In turn, this culture in society in Ukraine does not yet have a proper level. Therefore, the country should pay more attention to the control of the direct taxation system and create conditions for the payers of these taxes.

The aim of the study is a quantitative assessment of changes in the indicators of the effectiveness of Russian IT companies measured by the return on assets depending on changes in intellectual capital (IC) and its specific elements. The research was based on the method of econometric (regression) analysis and bibliographic analysis of similar studies. The study sample consisted of 323 Russian companies operating in information technology. The study's originality is determined by analysing the relationship between intellectual capital and the performance of IT enterprises in an emerging market using the methodology of a modified intellectual value-added coefficient and in the context of individual elements of intellectual capital. A hypothesis of the study is that intellectual capital positively impacts the profitability of Russian companies' assets in the information technology field. According to the results of the analysis, it was confirmed for structural (SCE), human (HCE) and used (CEE) capital. The efficiency of using relational capital has a negative relationship. Results obtained during the analysis consistent with results of other researchers. Our research has practical applications in enterprise human resource management in the computer technology industry.