Economic Sanctions as a Factor of Modernizing of Russian Defense Industry Complex

Нуреев, Рустем Махмутович; Busygin, Evgeniy G.

doi:10.17835/2076-6297.2017.9.3.097-118

Cited by 5 publications

(2 citation statements)

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“…Export and import opportunities were limited, as well as international financing. Large companies' performance suffered (Nureev and Busygin, 2017; Zakirova and Zakirova, 2018), which could affect the dividend policy as it was reasonable to keep earnings inside the company to cover unexpected losses.…”

Section: Methodsmentioning

confidence: 99%

The impact of influential shareholders on corporate dividend policy: evidence from Russia

Ershova

Zavertiaeva

Kirpishchikov

2022

JES

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PurposeThis study examines the impact of influential shareholders, namely, state and influential businessmen, on the dividend policies of firms. A special focus is made on the causal effect of exogenous changes: general and personal economic sanctions leading to toughened state policies concerning dividends.Design/methodology/approachRussian firms included into the Moscow Stock Exchange Broad Market Index were examined for a period from 2009 to 2019 using a generalized method of moments and a tobit model. The effect of personal sanctions was elucidated with the use of difference-in-differences method with multiple time periods.FindingsThe analysis showed that government or businessmen's ownership does not affect dividend payments. However, after 2014, state-owned companies began to increase their payments. At the same time, owing to a series of changes triggered by general economic sanctions, businessmen-owned companies decrease their dividends payout ratio. Personal sanctions imposed do not have long-term effect on Russian companies' dividends.Originality/valueThis study estimates the effect of ownership structure on dividend payouts after an exogenous change. The results show that there is heterogeneity in influential owners' decisions regarding dividends and changes strengthening it.

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Section: Methodsmentioning

confidence: 99%

The impact of influential shareholders on corporate dividend policy: evidence from Russia

Ershova

Zavertiaeva

Kirpishchikov

2022

JES

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“…It is a competitive advantage for the transportation of goods, especially critical to speed. On the figure 4 the transport prospects "land" corridor are presented [5].…”

Section: Market Of Chinamentioning

confidence: 99%

Analysis of Market Opportunities for Use of Navigation Systems in Transport

Gosteva¹,

Кукарцев²,

Федорова³

et al. 2018

Proceedings of the International Conference "Aviamechanical Engineering and Transport" (AVENT 2018)

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The article discusses the effectiveness and different areas of using innovative navigation systems for transport, different markets and participation in international transport projects. The problems of ensuring information security in the operation of navigation systems in different markets and innovative activities in integrated industrial structures are considered by the example of clusters involving enterprises of the defense industry complex. It is emphasized that the analysis of market opportunities for the use of innovative navigation systems on the transport of defense enterprises allows solving several tasks at once: improving transport systems, developing dual-use technologies, presenting Russian innovation on the international market and so on. Particular attention is paid to the analysis of the possibility of using innovative navigation systems in foreign markets, as well as in the creation of transnational transport routes. The most promising markets can be considered the market of China and Kazakhstan.

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Global economy of sanctions, sanctions, countersanctions and the new global currency

Manushin

2022

RusJEL

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Objectives: to study and characterize the modern world economy, to identify the actual goals of the sanctions war, and to propose measures to mitigate sanctions.Methods: in the course of the research, such methods of abstract-logical approach were used as: analysis, synthesis, generalization, comparison, analogy, deduction, induction, and prediction.Results: the actual causes, prerequisites and goals of the world sanctions war were revealed that caused the emergence of the world sanctions economy. It is proved that the current state of the economy can be viewed as a global sanctions economy. The concept of the world sanctions economy is given and the features of the world sanctions economy are revealed: the contradiction between political goals and socio-economic ones; the rocketing energy prices; the noticeable increase in prices for all raw materials and foods; the sharp increase in the cost of products; the transition to the production of lower-quality analogues of common goods; the ideological connotation of the consumption of goods (works, services); the decrease in the living standards of the population; the increase in the requirements of the state to the society members; the reduction in investment; the redistribution of investments to the areas in need of import substitution; the temporary paralysis of interstate trade; the intensification of trade between physical persons. The introduction of energy currency is substantiated. A number of other anti-sanctions measures are proposed.Scientific novelty: firstly, the concept of “world sanctions economy” is proposed. Secondly, the stages of the world economy development are determined and the factors influencing it are identified. Thirdly, the features of most national economies under sanctions are revealed. By the example of Russia, the application of the revealed stages of the world economy development is demonstrated and their connection with sanctions is shown. A forecast of the world economy development is made (two scenarios are given). An additional argument is given for the introduction of a new world currency – an energy ruble. It is proposed to implement a number of other measures relevant under the current economic situation: to specify the country of origin and the form of its participation in the sanctions war for all goods; to increase the level of future problems forecasting; to accelerate the construction of the “Power of Siberia 2” gas pipeline and to increase its export capacity; to activate and popularize the work of charitable organizations to support low-income citizens; to develop an energy index. Foreign goods for Russian counter-sanctions are named: building materials, metal and plastic products, biofuels, tobacco raw materials and cigarettes.Practical significance: the study results will help to better understand the essence and process of the world sanctions economy, to more accurately predict its interim results and consequences, and to take the necessary measures in a timely manner. All the proposed measures will ease the sanctions pressure on Russia. The theoretical results obtained will also be useful in the long term, when the world faces an actual shortage of natural resources.

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Economic Sanctions as a Factor of Modernizing of Russian Defense Industry Complex

Cited by 5 publications

References 0 publications

The impact of influential shareholders on corporate dividend policy: evidence from Russia

The impact of influential shareholders on corporate dividend policy: evidence from Russia

Analysis of Market Opportunities for Use of Navigation Systems in Transport

Global economy of sanctions, sanctions, countersanctions and the new global currency

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