DOI: 10.33917/es-4.190.2023.136-141

Research program of the institutional framework of Douglass North, which was not implemented in practice by either the great researcher himself or his followers, is examined. Application of D. North’s methodological approach to analysis of a specific problem – shaping business value – allowed the author to draw the following conclusions.

It is determined that formation of business value is a process of value imputation. It was found that as a result of the process of imputing the business value, carried out within a certain institutional framework, the formed value of business can be considered as a converted form of value of a particular product. The author gives an institutional explanation of how, on the basis of the institutional framework for determining the value of business, main logically contradictory approaches to estimating the value of business are combined, and how the final quantitative value of the business worth is formed on this basis.

References:

1. Skinner K. ValueWeb. Kak fintekh-kompanii ispol’zuyut blokchein i mobil’nye tekhnologii dlya sozdaniya interneta tsennostei [ValueWeb. How Fintech Companies are Using Blockchain and Mobile Technologies to Create an Internet of Value]. Per. s angl. N. Yatsyuk. Moscow, Mann, Ivanov i Ferber, 2018, 414 p.

2. Nort D. Ponimanie protsessa ekonomicheskikh izmenenii [Understanding the Process of Economic Change]. Per. s angl. K. Martynova, N. Edel’mana. Moscow, ID Gosudarstvennogo universiteta — Vysshei shkoly ekonomiki, 2010, 253 p.

3. Nort D.K. Avtobiografiya. Lektsiya pamyati Al’freda Nobelya, prochitannaya Duglasom Nortom 9 dekabrya 1993 g. Kommentarii: Laureaty Nobelevskoi premii po ekonomike: avtobiografii, lektsii, kommentarii [Autobiography. Alfred Nobel Memorial Lecture delivered by Douglas North on December 9, 1993. Comments: Nobel Laureates in Economics: Autobiographies, Lectures, Commentaries]. Pod red. V.V. Okrepilova, vol. 2, Saint Petersburg, Nauka, 2009, pp. 297–315.

4. Nort D. Pyat’ tezisov ob institutsional’nykh izmeneniyakh: Kvartal’nyi byulleten’ kluba ekonomistov [Five Theses on Institutional Change: The Economists Club Quarterly Bulletin]. Minsk, Institut privatizatsii i menedzhmenta, 1998, pp. 3–15, available at: https://portalus.ru/modules/economics/rus_readme.php?sub

action=showfull&id=1127698362&archive=1254315015&start_from=&ucat=&.

5. Furubotn E.G., Rikhter R. Instituty i ekonomicheskaya teoriya. Dostizheniya novoi institutsional’noi ekonomicheskoi teorii [Institutes and Economic Theory. Achievements of the New Institutional Economics]. Per. s angl. pod red. V.S. Kat’kalo, N.P. Drozdovoi. Saint Petersburg, ID Sankt-Peterburgskogo un-ta, 2005, 701 p.

6. Uil’yamson O.I. Ekonomicheskie instituty kapitalizma: firmy, rynki, “otnoshencheskaya” kontraktatsiya [The Economic Institutions of Capitalism: Firms, Markets, “Relational” Contracting]. Per. s angl.; Nauch. red. i vstup. stat’ya V.S. Kat’kalo. Saint Petersburg, Lenizdat, 1996, 702 p.

DOI: 10.33917/mic-1.108.2023.29-35

The article analyzes various research algorithms for studying the institutional foundations of the process of forming the value of modern business. The author focuses on the problem of disordered categories of this area of economic thought. In the scientific and regulatory literature, when describing economic phenomena and processes associated with the concept of “cost”, a number of categories are used (price, cost, cost, costs, economic value), which are often used as synonyms. The inaccuracy and uncertainty of the categorical apparatus within the framework of the issue under study are associated with institutional issues.

References:

1. Coase R. Firm, market and law [transl. from English: B. Pinsker]. Moscow: Liberal Mission Foundation: New Publishing House, 2007. 221 p. ISBN 978-5-98379-087-2.

2. Williamson O.I. Economic institutions of capitalism: Firms, markets, “relational” contracting: [transl. from English]; [Scientific ed. and intro. Art. V. S. Katkalo]. St. Petersburg: Lenizdat, 1996. 702 p. ISBN 5-289-01816-6.

3. North D. Institutions, institutional changes and the functioning of the economy. Persian. from English. A.N. Nesterenko; foreword and scientific ed. B.Z. Milner. Moscow: Fund of the economic book «Nachala», 1997. 180 p. ISBN 5-88581-006-0.

4. North D. Understanding the process of economic change. per. from English. K. Martynov, N. Edelman. Moscow: Ed. house of the State un-ta – Higher. school Economics, 2010. 253 p. ISBN 978-5-7598-0754-4.

5. Macmillan’s Dictionary of Modern Economic Theory / General ed. D.W. Pierce; per. from English. Moscow: INFRA-M, 1997. 608 p. ISBN 5-86225-453-6.

6. Dictionary of financial and economic terms / A.V. Sharkova, A.A. Kilyachkov, E.V. Markina and others; under total ed. M. A. Eskindarova. – 3rd ed. M.: Publishing and Trade Corporation «Dashkov and Co», 2020. 1168 p. ISBN 978-5-394-02995-0.

7. Osipov Yu.M. Theory of economy. Textbook in 3 volumes. Vol. 1: General grounds. Moscow: Moscow State University: TEIS, 1995. 458 p. ISBN 5-7218-0026-0.

8. Razberg B.A. Modern Economic Dictionary / Raizberg B. A., Lozovsky L. Sh., Starodubtseva E. B. – 2nd ed., corrected. Moscow: Ed. house «INFRA-M», 1998. 476 p. ISBN 5-86225-758-6.

9. Financial and credit encyclopedic dictionary = Finance and credit encyclopedic glossary / General. ed. A.G. Gryaznova. M.: Finance and statistics, 2004 (OAO Type. News). 1165 p. ISBN 5-279-02306-X.

10. Dictionary of the Russian language: 52000 words / Comp. S. I. Ozhegov; under total ed. acad. S. P. Obnorsky. – 2nd ed., Rev. and additional Moscow: State. foreign publishing house and national dictionaries, 1952. 848 p.

11. Osipov Yu.M. Theory of economy. Textbook in 3 volumes. Vol. 1: General grounds. Moscow: Moscow State University: TEIS, 1995. 458 p. ISBN 5-7218-0026-0.

12. New Philosophical Encyclopedia: in 4 volumes / Institute of Philosophy Ros. acad. Sciences, National social-scientific fund; Scientific-ed. advice: V. S. Stepin [and others]. Moscow: Thought, 2000-2001. ISBN 5-244-00961-3. URL: https://rus-philosophical-enc.slovaronline.com/

DOI: https://doi.org/10.33917/es-3.183.2022.70-77

The article analyzes scientific views of different schools and directions of economic thought on the business value formation. In the study, the author identifies and analyzes the main approaches of theoretical and economic research to studying the problem of the business value formation: cost and behaviour. The author comes to believe that scientific views on the problem of value formation were evolving along the line of “cost approach → behavioral approach”. The process of forming the value of business is a system of economic interactions. Any system of economic interactions of various subjects should be institutionalized. Certain formal and informal norms and rules of conduct organize and coordinate the process of business value formation.

Источники:

1. Engel’s F. Anti-Dyuring [Anti-Duhring]. Marks K., Engel’s F. Soch. [Works]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1961, vol. 20, pp. 242.

2. Smit A. Issledovanie o prirode i prichinakh bogatstva narodov: Antologiya ekonomicheskoi klassiki [Study on the Nature and Causes of the Wealth of Nations: Anthology of Economic Classics]. Vol. 1. Moscow, Ekonov, 1993.

3. Mill’ Dzh.S. Osnovy politicheskoi ekonomii [Fundamentals of Political Economy]. Moscow, Progress, 1980–1981, vol. 2, pp. 339–340, 351, 356.

4. Bem-Baverk E. Osnovy teorii tsennosti khozyaistvennykh blag [Fundamentals of the Theory of the Economic Goods Value]. Avstriiskaya shkola v politicheskoi ekonomii [Austrian School in Political Economy]. Moscow, Progress, 1992, p. 334.

5. Chemberlin E. Teoriya monopolisticheskoi konkurentsii: (reorientatsiya teorii stoimosti) [Theory of Monopolistic Competition: (Reorientation of the Value Theory]. Moscow, Ekonomika, 1996, 351 p.

6. Anan’in O.I. Struktura ekonomiko-teoreticheskogo znaniya: metodologicheskii analiz [Structure of Economic and Theoretical Knowledge: Methodological Analysis]. Moscow, Nauka, 2005, pp. 46, 47. (Ekonomicheskaya teoriya i strategiya razvitiya).

7. Blaug M. Ekonomicheskaya mysl’ v retrospective [Economic Thought In Retrospect]. Moscow, Delo Ltd, 1994, 720 p.

8. Marks K. Kapital. Kritika politicheskoi ekonomii [Capital. Criticism of Political Economy]. Marks K., Engel’s F. Soch. [Compositions]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1961, vol. 25, part I, II.

9. Keins Dzh.M. Obshchaya teoriya zanyatosti, protsenta i deneg [General Theory of Employment, Interest and Money]. Antologiya sovremennoi klassiki [Anthology of Modern Classics]. Moscow, Ekonov, 1993, p. 153.

10. Veblen T. The Place of Science in Modern Civilization. New York, 1919, p. 241.

11. Seligmen B. Osnovnye techeniya sovremennoi ekonomicheskoi mysli [Main Tendencies of Modern Economic Thought]. Moscow, Progress, 1968, 600 p.

12. Veblen T. Teoriya prazdnogo klassa [Theory of the Leisure Class]. Moscow, Progress, 1984, p. 216.

13. Marks K. Kapital. Kritika politicheskoi ekonomii [Capital. Criticism of Political Economy]. Marks K., Engel’s F. Soch. [Compositions]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1955–1981, vol. 23–25, 1960–1962.

DOI: https://doi.org/10.33917/es-3.177.2021.72-85

The article discusses particular features of the appraisal activities transformation in the Russian Federation, focused on the priority methodology in cost management of the appraisal objects’ life cycles as the basis for sustainable socio-economic development, especially in implementing national projects. The relevance of this study is based on the importance of solving such a national economic problem as providing the launch of innovative high-tech investment cycles in development of industries, enterprises and investment projects based on forming an updated methodological base for appraisal activities focused on long-term strategic cycles with planning horizon up to 60 years. Furthermore, as the main national evaluation ideology it is proposed to use the concept of formalizing evaluation and value management processes in economic systems, where the main object of assessment is the life cycle of goods, products and works, which are characterized by innovative, high-tech qualities of a breakthrough highly competitive type, as well as by the effect of emergence and synergy.

The aim of the present study is to elaborate a set of relevant search methodological proposals and recommendations for modeling the transformation processes of the national evaluation activity of Russia based on the priorities of cost evaluation and of the life cycles management of goods and works that can provide sustainable and breakthrough socio-economic development of the country on the long-term strategic basis with a planning horizon of up to 50-60 years, with a view to ensuring priority implementation of national projects.

The study is focused on the processes of genesis and  transformation of national appraisal activity in the course of exploratory fundamental research in the field of modeling theoretical provisions and conceptual approaches to structuring methodological framework of evaluation and management of costs, life cycles of goods in the process of implementing national projects based on minimizing the cost of their life cycles, contracts on life cycles, total costs and life cycles’ cost of ownership.

Integrated and systemic approaches based on analysis and synthesis, logical analysis, expert approach, methods of economic and mathematical modeling and forecasting were used as research methods.

The article analyzes the activities of mining enterprises of the Murmansk region, which is part of the Arctic zone of the Russian Federation, examines the problem of rising production costs, analyzes the composition and structure of costs, developed and presented methods to reduce them.

DOI: 10.33917/es-4.170.2020.80-91

The article discusses the subject of research, focused on the study of the transformation processes of the valuation methodology, focused on the effective management of sustainable and breakthrough socio-economic development by ensuring the effective implementation of National projects using the results of the value management genesis in valuation activities based on the use of the concept of cost-based life cycle assessment The relevance of this study is determined by the importance of solving the national economic problem of the need to ensure the launch of innovative high-tech investment cycles for the development of industries, enterprises and investment projects based on the formation of an updated methodological base for valuation activities. Moreover, it is proposed to use the model of formalizing the processes of valuation and cost and cost management in economic systems based on the life cycles of goods, products and works as the main evaluative ideology. The aim of the study is to develop a set of relevant methodological proposals for modeling the concepts of valuation of life cycles in the valuation of Russia in order to ensure its transformation that is sufficient for cost management of sustainable and breakthrough socio-economic development of the country through ensuring the effective implementation of national projects. The object of the study is the development of theoretical principles and conceptual approaches for modeling the methodological foundations of valuing and managing the life cycles of goods and products in the process of implementing national projects based on minimizing the cost of their life cycles, life cycle contracts, total costs and the cost of ownership of life cycles. As applied research methods, a comprehensive approach was used, based on analysis and synthesis, logical analysis, expert approach, methods of economic and mathematical modeling and forecasting.

The appraiser’s task — to give professional opinion on the value of the cadastral price of the real estate property and to prepare an evaluation report in conformity with the law.

In order not to make “valuation mirror” crooked during modernization of the economy, it is necessary at the same time to undertake modernization in evaluation.