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Abstract : Shareholder Value of the Company and Financial Statements: Econometric Estimation of Value Creation Drivers
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Abstract: In this work to evaluate the relationship between financial reporting indicators and shareholder value on the example of the Russian companies from seven sectors of the economy linear multiple regression model and classical least squares methods has been used. The results depict that it is expected that financial reporting indicators are one of the dominant determinants of evaluating the effectiveness of financial investment decisions. Also, it is shown that the financial drivers-financial leverage, return on assets, dividend payments, and the EVA driver – invested capital-are positively correlated with the company's shareholder value. The results represent that the size of a company has a positive impact on its shareholder value. It was found that the level of disclosure is negatively correlated with the company's shareholder value. Due to the fact that the article uses data from the financial statements of the 85 Russian companies for 2018 to measure the relationship between three groups of drivers and the company's shareholder value is an innovative work that can be used in scientific and practical activities by owners and investors of companies in order to improve the financial reporting of companies and make investment decisions. Keywords: Financial Statements, Shareholder Value, Linear Regression Model, Least Squares Method. |
Abstract : Genre Strategy of Modern Russian-Language Poetry in Kazakhstan
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Abstract: At the end of the 20th century, the poetry of Kazakhstan made a great stride forward, which can be compared with the ideas of the cultural revolution. Unlike Russian poetry being changed throughout the 20th century, Kazakh poetry has made a breakthrough in its development only for the last two decades, allowing it to fit the conventions of modern world poetry. The present article aims at revealing the features of the functioning of the Russian-language poetry of Kazakhstan at the end of the 20th – the beginning of the 21st century. The authors of the article define those changes that have occurred in the genre strategy of modern poetry in Kazakhstan. The genre canon is generally accepted as one of the essential manifestations of the dialogue between different texts, being a kind of recognizable quote; simultaneously, it is deformed in the works by poets of the beginning of the 21st century. The transformation of genre traditions and canons engenders a unique phenomenon in modern poetry of Kazakhstan – "the poetry of philosophers." The poets such as Sergei Kolchigin, Indira Zaripova, Zhanat Baimukhametov tend to be attributed to this category. Also, modern Russian-language poetry is distinguished by the aspiration for collecting incredibly lyrical emotion and the same "extreme" interest in extra-literary events within the boundaries of one text. All these features bespeak the formation of another poetics in modern literature of Kazakhstan. Keywords: Russian-language poetry, Genre, genre strategy, poetics, identity, deformation of the genre form. |
Abstract : Socio-Economic Role of Infrastructure Projects in the Spatial Development of the Volga Federal District
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Abstract: The article is devoted to assessing the role of infrastructure projects in the spatial development of the Volga Federal District. First of all, the regions of the Volga Federal District were ranked by the factor of financing infrastructure projects. Then, regression dependencies of this factor with socio-economic indicators of the constituent entities development were identified. In addition, a map was developed reflecting the spatial differentiation of the Volga Federal District regions on the development of infrastructure projects. Keywords: Infrastructure projects, Spatial development, Regional economy, Social and economic development, Regression analysis. |
Abstract : Phenomenon of an Irrational in Eastern Direction in Thinking
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Abstract: Indian mythology and the Vedic image of the world built on its basis are of exceptional importance for understanding the entire Eastern culture. The mythological complex of Indian representations is the most ancient (researchers attribute its formation to the III millennium BC) and surprisingly persistent. The Vedic image of the world combines the features of proper mythology and religion and philosophy; it becomes the initial model for the formation of later religious and philosophical doctrines. Recall that it was the Vedic image of the world that formed the Brahmanism ideology prevailing in Ancient India and then formed the foundation of modern Hinduism through a modification of the Brahmin doctrine. Moreover, even religious-philosophical systems opposed to Brahmanism, such as Jainism, Bhagavatism, Buddhism, which questioned Rigveda and other Samhitas's sanctity, maintained a standard worldview continuity and solidarity with the fundamental images of the Vedic world model. Of course, Indian mythology, especially at the early stages of its formation, has much in common with mythological representations of other peoples of the world. At a particular stage in the development of mythic consciousness, we can everywhere find syncretic and anthropomorphic motifs, echoes of totemism or animism, the influence of matriarchy, and, of course, the tendency to overcome polytheistic traditions and the tendency to theistic monism. However, in the East, all these elements of mythological consciousness acquired an exceptional fundamental sound, making it possible to raise the question of the specifically Eastern way of world relations and the key importance of Vedic images in the general model of the world built by the East. Keywords: East, subject, mythology, India, irrationality, Indian mythology. |
