Shaping Business Value: Research Program of the Douglass North Institutional Framework

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

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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.

Features and Directions of Real Estate Valuation for the Purposes of State Economic Policy in the Context of Digitalization

DOI: https://doi.org/10.33917/es-3.183.2022.130-135

The article deals with topical issues of digital cadastral accounting, calculating the value of a real estate object in the context of the dynamics of market indicators. The statistics of the distribution of Russian cities by the indicator of the average level of real estate prices in the context of market types in 2020 are reflected. An approach to the formation of reports on the results of real estate valuation is proposed.

Источники:

 

1. Khrustalev B.B., Ayupova Z.V. Osnovnye napravleniya effektivnogo razvitiya rynka kommercheskoi nedvizhimosti v zhilom sektore [The Main Directions of Effective Development of the Commercial Real Estate Market in the Residential Sector]. Ekonomika stroitel’stva, 2021, no 1, 44–53.

2. Zinkovskii M.A. Ekonomika i grazhdanskii oborot: nekotorye aspekty vzaimosvyazi [Economics and Civil Circulation: Some Aspects of the Relationship]. Gosudarstvennaya vlast’ i mestnoe samoupravlenie, 2021, no 5, pp. 29–34.

3. Belyaev M.K. Tsifrovye metamorfozy torgovli [Digital Metamorphoses of Trade]. Problemy natsional’noi strategii, 2021, no 2, pp. 85–98.

4. Volovich N.V., Kovalev D.V. Voprosy osparivaniya rezul’tatov opredeleniya kadastrovoi stoimosti ob”ektov nedvizhimosti. Part 1. Metodologiya [Issues of Challenging the Results of Determining the Cadastral Value of Real Estate Objects. Part 1. Methodology]. Imushchestvennye otnosheniya v Rossiiskoi Federatsii, 2021, no 2, pp. 53–64.

5. Predvaritel’nye itogi rynka nedvizhimosti za 2020 god, perspektivy 2021 ot ekspertov rossiiskoi gil’dii rieltorov [Preliminary Results of the Real Estate Market for 2020, Prospects for 2021 from Experts of the Russian Guild of Realtors]. Rossiiskaya gil’diya rieltorov, 22 p., available at: https://rgr.ru/Uploads/Redactor/3b97d3b0-5e08-4c89-889c-4efe3c0acb92/rgr_itogi_2020_goda_predvarit.pdf.pdf.

6. Analiticheskaya sistema ob”ektov nedvizhimosti [Analytical System of Real Estate Objects], available at: https://tbankrot.ru/lp/ned.

7. Yablonovskaya M.Yu. Metody otsenki upravleniya informatsionno-analiticheskoi sistemoi kadastra nedvizhimosti munitsipal’nogo obrazovaniya. Pokolenie budushchego: vzglyad molodykh uchenykh – 2015: Sb. nauchnykh statei 4-i Mezhdunarodnoi molodezhnoi nauchnoi konferentsii [Methods of Assessing the Management of the Information and Analytical System of the Real Estate Cadastre of the Municipality. The Generation of the Future: the View of Young Scientists-2015. Collection of Scientific Articles of the 4th International Youth Scientific Conference]. V 4 t. Kursk: Universitetskaya kniga, 2015.

8. Yarotskaya E.V., Matveeva A.V., Zaitseva Ya.V. Osnovy otsenki ob”ektov nedvizhimosti [Fundamentals of Real Estate Valuation]. Ucheb. posobie, Krasnodar, KubGAU, 2020, 66 p.

9. Stroitel’stvo [Construction]. Rosstat, available at: https://rosstat.gov.ru/folder/14458.

10. Lavrova E.V., Morgun T.N., Polyakova O.E. Analiz rynka nedvizhimosti kak istochnik informatsii dlya formirovaniya kadastrovoi stoimosti [Analysis of the Real Estate Market as a Source of Information for the Formation of the Cadastral Value]. Fundamental’nye issledovaniya, 2018, no 6, pp. 148–153.

Managing the cost of knowledge-based technologies and businesses

DOI: 10.33917/mic-6.95.2020.21-29

This scientific article covers the issues of managing the cost of technologies and businesses based on knowledge, which means first of all the ability to assess the cost of such technologies and businesses, and then manage this cost in accordance with the goals defined by the relevant structures. Technologies and businesses based on knowledge belong to the objects of intellectual property.

The authors analyze modern methods of determining the value of property, including intellectual property; identify the peculiarities of assessing the value of a business based on knowledge; determine the features of managing this business; study and systematize the Russian experience of doing business based on knowledge.

New Economic Reality: Onthos and Gnosis (Philosophic Reminiscences)

#4. Monument up to the Sky
New Economic Reality: Onthos and Gnosis (Philosophic Reminiscences)

The paper presents an original interpretation of both economy at large and current economic reality, fraud with dramatic changes which may entail the transformation of economy into post-economy or technomy. The author views the economy as a value-driven phenomenon of active consciousness within which it is implemented accepting specific digital (monetary) expression. The author argues that at the basis of any economic organization lies the notion of ‘creating chaos’ which, thanks to consciousness as synergy attractor, constantly generates a certain economic order, chaosmos, overcoming initial chaos but not attaining sustainable order of cosmic character. The economy is chronically changeable either towards growth and development or towards decline and stagnation. Here the negentropy is combined with entropy, thus reflecting the apocalyptic nature of economy, where crisis is a natural anomaly. Overall economic self-organization, or self-governing, is necessarily coupled with assertive selective organization, or management (various forms of dirigizm). In general, the organization of economy is not only diversified, but also is much more large-scale than economy itself; it is bound to be supported by an external organization, mainly not economic one but institutional, legal, governmental, political, etc. Managerial ecology of economy implies taking into consideration the importance of economic self-governance through dirigizm; managing the economy is only possible on the basis of self-governnance combined with economic freedom. Massive introduction of computing and analytical devices in economic processes creates an opportunity not only for greater administrative efficiency in the economy but also for the replacement of economic organization proper (homo-socio-value type) with non-economic technotronic organization, and of the economy with technomy. Hence, there exist a probability of transgressive revolution in the economy and then in the society. Presently, world economy, undergoing overall qualitative and organizational crisis, is on the brink of transition from uni-centered global type to the poly-centered integrated one, which, in turn, will put an end to the dominance of the US dollar, the Wall Street, the USA and the West.