^{I.A. Zhuravleva}

DOI: https://doi.org/10.6000/1929-7092.2018.07.77

Published: 12 November 2018  

Abstract: The subject of the study of the proposed topic of the article is the tax relations arising in the process of tax regulation by states of taxation of small business in the digital economy. The relevance of small business development as one of the important categories of taxpayers plays an essential role in the formation of the revenue side of the budget, as well as in the solution of social issues in society. The novelty of scientific research lies in the fact that the problems of investing and taxing small business are based on the prospects of digitalization of the economy. The purpose of writing this research is to address the identified problems of small business taxation in the rapidly changing information and communication technologies, Internet sites, the emergence of new paradigms and business models. The problems of taxation of self-employed population in the country are touched, anddirections for their solution are determined. When writing the article, general scientific methods of financial, economic, comparative analysis, analytical and systematic approach to the object of research and methodological approaches in a number of proposals were used. Problems are identified and investigated in the scientific context, and an in-depth analysis is conducted to ensure the development of small enterprises in Russia in the digital economy.

Keywords: Small business, digital economy, innovations, information and communication technologies, taxation.

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^{V.F. Gaponenko, O.I. Zhukova, R.R. Alaberdeev, Kh.Sh. Kilyskhanov2 and E.A. Teterina}

DOI: https://doi.org/10.6000/1929-7092.2018.07.79

Published: 12 November 2018  

Abstract: In the article features of formation of investment and dividend policy of oil and gas and other the Russian companies are presented: financial aspect, existing problems are revealed and the corresponding recommendations are offered. The extensive world practice and its invaluable experience in the field of formation of effective investment and dividend policy can help to solve a number of problems to the Russian public joint-stock companies. The analysis, systematization and generalization of the theory and practice of payment of dividends by Russian joint-stock companies are carried out, forecasts are made.

Keywords: Dividend and investment policy, Russian public oil and gas and other companies, dividend payout statistics, dividend stability index, dividend signal theory.

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Svetlana V. Shchurina and Marina A. Prunenko

DOI: https://doi.org/10.6000/1929-7092.2018.07.78

Published: 12 November 2018  

Abstract: Modernization of the company's fixed assets is a necessary condition for its development and competitiveness. Assessing projects and efficient allocation of the capital depend on the project requirements. The identification of the critical factors makes it possible to compile a realistic investment budget of the company. It also contributes to the optimal solution of the problem of modernization of fixed assets. The capital investment decision of project ranking plays a crucial role in capital investment decisions. The business concerns prioritize the various projects on the base of the kind of project a firm has at a particular point of time. Project ranking is dependent on the fact as to how much would a particular project return as well as which project has the ability to provide the business, a maximum value. The development of recommendations to improve the company's policies of modernization of fixed assets under the investment budget project makes the right accents for the targeted usage of funds.

Keywords: Budget decisions, capital investment projects, fixed assets, project valuation, capital budgeting techniques, facility management.

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Ermolovskaya O. Yu

DOI: https://doi.org/10.6000/1929-7092.2018.07.80

Published: 12 November 2018  

Abstract: Importance: Nowadays mergers and acquisitions, in addition to the organic growth, act as a tool for achieving competitiveness of the organization in the long run. While determining the strategic objectives of mergers and acquisitions, managers of the participants of transaction are driven by motives associated with obtaining synergetic effects, which require from the stakeholders concentration of resources, managers with sufficient experience and reasonable approaches to transactions at all stages. Thus, the complex of factors determines whether the transaction is successful and points out reasons for a failure.

Objective: Develop the factors contributing to the failure in mergers and acquisitions at stages of implementation. Evaluate the necessity of measures, preventing failure of transaction and minimizing negative effects of it.

Methods: Theoretical analysis, synthesis, systematization of scientific literature on the subject; structural analysis of mergers and acquisitions process, logical analysis of causes of unsuccessful transactions.

Results: Determined the groups of factors weakening the ability to achieve success in mergers at stages of their implementation. Evaluated the necessity of measures, preventing failure of transaction.

Conclusions and Relevance: It is concluded that mergers and acquisitions, despite their attractiveness for increasing business value even in times of deteriorating financial situation, carry many risks. In order to achieve desired effects, the parties involved in transaction must anticipate internal and external factors that can destroy the success of transaction on stages of preparation, closing the deal and in integration period, which determines the necessity of developing measures, minimizing negative effects of unsuccessful outcome of transactions.

Keywords: Reorganization, a synergistic effect, the success of the transaction, strategic goals, mergers and acquisitions.