Headings of the journal
"Economics and Management"

Annotation: The article deals with current problems of management and execution of local budgets in 2020. The situation that has developed in connection with the spread of the coronavirus pandemic has made major adjustments to the work of financial authorities. The economy of the city district faced a significant decline in business activity. In order to achieve a balanced budget performance at the municipal level, steps were taken to provide financial support to organizations belonging to the real sector of the economy. The article describes the situation of optimizing budget funds to ensure budget balance. It was necessary to reduce non-recurrent expenditures, which negatively affected the industries tied to the budget. Implementation of the decisions taken to optimize expenses was multi-vector. Tools and mechanisms were put in place to quickly implement measures to ensure budget balance, prevent cash gaps, and respond quickly to changes in revenue. Attention is drawn to such aspects as the continuity of work, the transfer of employees to a remote format. In a short time, specialists were transferred to remote workplaces, issues of interaction in these conditions were considered, and interaction with specialists from higher-level structures was determined. The experience of implementing software and new technologies for budget execution in new conditions is considered. The integrated automation of the budget execution procedure, which has been tested in all municipalities of the Moscow region, allowed both financial authorities and chief managers and recipients of budget funds to work in a single information base. The introduction of software and new technologies was not intended to provide remote work opportunities for employees of the financial authority, centralized accounting departments and institutions. It provided accessibility for individual jobs, as well as delimited access to data and functions. The experience of the Shchelkovo city district has shown a positive example of solving difficult economic situations.

Annotation: In the framework of this study, the absence of a systematic approach to working with innovations, the complexity of company transformation, the bureaucratization of processes, and the lengthy time frame for making decisions are identified as the main barriers in introducing innovations. According to the authors, the reason lies in the lack of new competencies for commercializing products both in the scientific community and the business environment, and among large companies. Over the past few decades, many Russian companies have not had time to adapt to new mechanisms of interaction and continue to use outdated management methods, internal resources and their own research base. This article presents the current model, which, using the strategic approach, will allow Russian companies to become more open to innovations, change their management structure and more efficiently introduce new technologies and solutions using various tools that have been widely used in Russia and the world in recent years.

Annotation: This article discusses the development of FinTech and Big Data in the financial sector. It is revealed that the financial industry is rapidly moving towards data-based optimization, and organizations must respond to these changes in a timely manner. Financial and banking services are becoming more accessible, and the impact of technological innovations is very diverse. Big data problems in Finance are identified. The incentive to invest and implement data analysis tools and methods is huge, and businesses will need to adapt, innovate, and develop strategies for the emerging digital market. Big data is characterized by the following: the main volume of data, the speed with which it is processed, and a wide range of data. Data Analytics has expanded to the technological fields of machine learning and artificial intelligence. Along with the development of computer methods of data analysis, analysis relies on traditional statistical methods. Ultimately, data analysis methods are applied in two ways in an organization: big data analysis is processed by streaming data as it becomes available, and then batch data analysis is performed as it is created to search for behavioral patterns and trends. As data generation increases, various methods that manage this will evolve. As data becomes more insightful in its speed, scale, and depth, the more it spurs innovation. According to statistics, the revenues of the global big data market for software and services will increase from 42 to 103 billion USD by 2027.

Annotation: The article deals with the problem of formation and analysis of foreign direct investment in the Russian Federation. The study of concepts and definitions: “foreign direct investment”, “classification of foreign direct investment” and “forms of ownership of investors”. The analysis of direct investment in the Russian Federation by institutional sectors of the economy is carried out. Considering these trends, it was found that the largest share in the structure of foreign direct investment was accounted for by debt financial instruments. The article defines the tasks related to the movement of foreign direct investment in Russia and abroad. Based on the assessment of current trends in the world economy and the review of mutual trade of the BRICS countries, the factors of increasing the inflow of foreign investment are identified. The article examines the current state of capital flows in foreign countries and analyzes the indicators of capital investment in countries with a significant drop in direct investment. This article is aimed at improving the quality of the country’s investment policy, considering possible trends in its further integration into the system of international economic relations.

Annotation: The article deals with the influence of factoring operations on the turnover rate of working capital on the example of 15 companies in the packaging industry, selected due to the peculiarities of their production process, characterized by minimal seasonal fluctuations and selling products exclusively to wholesale buyers. Companies were grouped by the degree of involvement of receivables in factoring transactions into three categories: the first group includes 5 companies, handed over to the factor of about 75 % of accounts receivable, the second group including 5 companies that gave the factor of about 40 %, and the third group of 5 companies presented a factor of about 15 % of its receivables. The main purpose of the study is to determine the degree of influence of factoring operations on the acceleration of the turnover of current assets of the organization, depending on the share of accounts receivable transferred to factoring. The results of the study showed that 67 % of the companies selected for analysis confirmed the assumption that with an increase in the volume of financing of factoring transactions, the speed of turnover of working capital significantly increases, which ultimately allows us to determine the presence of a strong inverse relationship between the studied variables.