Metallurgical corporations and the state: trends in financial interaction of the last decade

Metallurgical corporations and the state: trends in financial interaction of the last decade

Автор: Pechenskaya-polishchuk Mariya A., Malyshev Mikhail K.

Журнал: Economic and Social Changes: Facts, Trends, Forecast @volnc-esc-en

Рубрика: Public finance

Статья в выпуске: 3 т.14, 2021 года.

Бесплатный доступ

The dominant role of big business in the formation of Russia's GDP determines its high importance both for the country's economy as a whole and for the economies of individual regions. In this regard, studies that address the issues of assessing the financial interaction of large corporations with the state are relevant and necessary. Interaction of these economic agents with each other is complex and contradictory, as in modern market conditions the interests of the state and economic entities are multidirectional. The Vologda Research Center of RAS pays attention to studying the influence of large corporations on regional development, in particular on the formation of budget revenues. As a result of the long-term research, we have formed a serious factual base that allows understanding the main interaction features of large businesses with the regional and federal budgets, to determine systemic shortcomings of the state's tax policy including those related to the taxation of profits and income of corporate owners. However, currently, there is no single mechanism in the scientific literature that can be used to most comprehensively assess the financial interaction of large businesses with the region. At the same time, the results of such an assessment can become a serious foundation for justifying many management decisions. The purpose of the study is to assess the trends of financial interaction between the state and corporations on the basis of the developed methodological tools. The authors have tested the methodology in the case of ferrous metallurgy industry. The object of the study is the financial interaction of large ferrous metallurgy corporations (PJSC “Severstal”, PJSC “MMK” and PJSC “NLMK”) with the state. The paper uses the methods of structural (weight) analysis, coefficient analysis linking the microeconomic indicators of enterprises with the macroeconomic indicators of the home regions, the index method, and the method of level estimation when creating the methodological assessment tools.

Еще

Interaction assessment, regional economy, budget system, taxation of large corporations, ferrous metallurgy, assessment methods and tools

Короткий адрес: https://sciup.org/147235408

IDR: 147235408   |   DOI: 10.15838/esc.2021.3.75.9

Список литературы Metallurgical corporations and the state: trends in financial interaction of the last decade

  • Khil'ko N.A., Karginova V.V. Corporate modernization of the economy is a necessary condition for increasing its competitiveness. Prostranstvo ekonomiki=Terra Economicus, 2009, no. 2–3, pp. 45–49 (in Russian).
  • Dobroleja E.V. Implication of large corporations’ financial resources into socio-economic potential of Russian regions. Natsional'nye interesy: prioritety i bezopasnost'=National Interests: Priorities and Security, 2011, no. 36 (129), pp. 59–63 (in Russian).
  • Ilyin V.A., Povarova A.I., Sychev M.F. Vliyanie interesov sobstvennikov metallurgicheskikh korporatsii na sotsial'no-ekonomicheskoe razvitie [Influence of Metallurgical Corporation Owners' Interests on Socio-Economic Development]. Vologda: ISEDT RAS, 2012. 102 p.
  • Ilyin V.A., Povarova A.I. Vliyanie metallurgicheskikh korporatsii na formirovanie dokhodov regional'nykh byudzhetov (2007–2016) [Influence of Metallurgical Corporations on the Formation of Regional Budget Revenues (2007–2016)]. Vologda: VolRC RAS, 2019. 198 p.
  • Ilyin V.A., Povarova A.I. Krupneishie metallurgicheskie korporatsii i ikh rol' v formirovanii byudzhetnykh dokhodov: monografiya [Largest Metallurgical Corporations and their Role in the Formation of Budget Revenues: Monograph]. Vologda: VolRC RAS, 2019. 204 p.
  • Povarova A.I. Metallurgical regions: Key trends and socio-economic development issues. Problemy razvitiya territorii=Problems of Territory's Development, 2015, no. 6 (80), pp. 37–50 (in Russian).
  • Budanov I.A. Management of the development of metallurgy and the global metal market. Problemy prognozirovaniya=Studies on Russian Economic Development, 2020, no. 6, pp. 104–118 (in Russian).
  • Tyurina Yu.G. Methodological and practical problems of the regional tax potential evaluation. Izvestiya OGAU=Izvestia of Orenburg State Agrarian University, 2013, no. 6 (44), pp. 155–157 (in Russian).
  • Creedy J., Gemmell N. Corporation tax asymmetries: Effective tax rates and profit shifting. International Tax and Public Finance, 2011, vol. 18, pp. 422–435.
  • Park J., Lee Y. Corporate income taxes, corporate debt, and household debt. International Tax and Public Finance, 2019, vol. 26, iss. 3, no. 3, pp. 506–535.
  • Reito F., Spagano S. Joint liability taxation and group auditing. Economia Politica, 2017, vol. 34, pp. 305–327.
  • Abdullahi D.A. Effects of financial liberalization on financial market development and economic performance of the SSA region: An empirical assessment. Economic Modelling, 2013, vol. 30, pp. 261–273. DOI: https://doi.org/10.1016/j.econmod.2012.09.019
  • Arendsen R., Oscar Peters O., Hedde M., Dijk J. Does e-government reduce the administrative burden of businesses? An assessment of business-to-government systems usage in the Netherlands. Government Information Quarterly, 2014, vol. 31, iss. 1, pp. 160–169.
  • Leibus I. Assessment of agricultural tax burden in Latvia. Economic Science for Rural Development Conference Proceedings, 2017, vol. 46. pp. 272–278.
  • Giriiniene G. Analysis of assessment methods of tax burden: Theoretical aspect. Economics and Management, 2012, vol. 17, no. 3, pp. 823–828. DOI: https://doi.org/10.5755/j01.em.17.3.2089
  • Gudelis D., Guogis A. Integrating public and business management: A model of interaction between public and private sectors. Int Rev Public Nonprofit Mark, 2011, vol. 8, pp. 1–9. DOI: https://doi.org/10.1007/s12208-010-0063-4
  • Maksimova T.V. Calculation of tax burden of the economic entity: Theory and practice. Vestnik YuUrGU. Seriya «Ekonomika i menedzhment»=Bulletin of South Ural State University, Series “Economics and Management”, 2015, vol. 9, no. 2, pp. 110–116 (in Russian).
  • Kirova E.A. Methodology for determining the tax burden on business entities. Finansy=Finance, 1998, no. 9, pp. 30–42 (in Russian).
  • Litvin M.A. Tax burden and economic interests of enterprises. Finansy=Finance, 1998, no. 5, pp. 29–31 (in Russian).
  • Pchelintsev O.S., Minchenko M.M. Regional infrastructure as a condition for economic growth. Problemy prognozirovaniya=Studies on Russian Economic Development, 2004, no. 6, pp. 1–16 (in Russian).
  • Ilyin V.A., Morev M.V., Povarova A.I. Russian "capitalism for the few" (case study of major ferrous metallurgy corporations). Obshchestvo i ekonomika=Society and Economy, 2019, no. 12, pp. 22–58. DOI: 10.31857/S020736760007835-7 (in Russian).
  • Ilyin V.A. Private capital and national interests. A case study of metallurgical corporations' owners. Vestnik Rossiiskoi akademii nauk=Herald of the Russian Academy of Sciences, 2013, no. 7, pp. 579–586 (in Russian).
  • Ilyin V.A., Povarova A.I. Consolidated taxation and its consequences for regional budgets. Ekonomika regiona=Economy of Region, 2019, no. 4, pp. 70–83. DOI: 10.17059/2019-1-6 (in Russian).
  • Ilyin V.A., Povarova A.I. Failures of big business tax administration and their impact on regional budgets. Ekonomika regiona=Economy of Region, 2017, no. 1, pp. 51–57 (in Russian).
  • Andreeva E.S. Evaluation of the effectiveness of public-private partnership projects: A methodological approach. Vestnik Kazanskogo tekhnologicheskogo universiteta=Bulletin of the Kazan Technological University, 2013, no. 12, pp. 300–303 (in Russian).
  • Malyshev M.K. On the social responsibility of big business (case study of PAO “Severstal”). Sotsial'noe prostranstvo=Social Area, 2020, vol. 6, no. 1. Available at: http://socialarea-journal.ru/article/28502. DOI: 10.15838/sa.2020.1.23.5 (in Russian).
  • Malyshev M.K. The role of big business in the development of territories (illustrated by steel-making corporations of Russia). Vestnik Rossiiskogo ekonomicheskogo universiteta imeni G.V. Plekhanova=Vestnik of the Plekhanov Russian University of Economics, 2020, no. 17 (6), pp. 144–155. DOI: https://doi.org/10.21686/2413-2829-2020-6-144-155 (in Russian).
  • Pechenskaya M.A. Budget potential of municipal entities: Assessment and directions for development (on the example of Vologda Oblast). Problemy prognozirovaniya=Studies on Russian Economic Development, 2019, no. 4, pp. 120–131 (in Russian).
  • Pechenskaya M.A. Region and federal center: State and evaluation of the effectiveness of budgetary relations. Audit i finansovyi analiz=Audit and Financial Analysis, 2013, no. 5, pp. 397–404 (in Russian).
  • Pechenskaya-Polishchuk M.A. Instruments and principles of reallocating budgetary resources in the region. Ekonomicheskie i sotsial'nye peremeny: fakty, tendentsii, prognoz=Economic and Social Changes: Facts, Trends, Forecast, 2020, vol. 13, no. 2, pp. 71–88 (in Russian).
  • Gubanova E.S., Kleshch V.S. Methodological aspects in analyzing the level of non-uniformity of socio-economic development of regions. Ekonomicheskie i sotsial'nye peremeny: fakty, tendentsii, prognoz=Economic and Social Changes: Facts, Trends, Forecast, 2017, vol. 10, no. 1, pp. 58–75. DOI: 10.15838/esc.2017.1.49.4 (in Russian).
  • Yashin S.N., Korobova Yu.S. A method for calculus of integral index of the region's innovative development. Finansovaya analitika: problemy i resheniya=Financial Analytics: Science and Experience, 2017, no. 4 (334), pp. 360–374 (in Russian).
Еще
Статья научная
QR-код для установки приложения SciUp Наведите камеру и скачайте бесплатное приложение SciUp