Вестник Самарского государственного экономического университета

Вестник самарского государственного экономического университета
Vestnik of Samara State University of Economics

2025 №9 (251)

ECONOMIC THEORY

Perepekin V.A., Perepelkina E. V.

Tertiarization and industrialization as structural components of post-industrial development

Abstract. This article presents the results of a study of service and industrial structural shifts in the context of the formation of a post-industrial economy. The theoretical part of the study is represented by an examination of the concepts characterizing the corresponding intersectoral shifts, which made it possible to clarify the interpretation of their content and distinguish them from related concepts. Contradictions between tertiaryization and reindustrialization, as well as the factors determining the choice of priority between them, are revealed. In the empirical part, the study was conducted at the global and country levels in order to establish the possibility of coexistence of the structural processes under study. Over the 9-year period of consideration, no statistically recorded signs of tertiaryization and reindustrialization were found in the global economy. However: among the group of the largest national economies that have embarked on the path of post-industrial development, an increase in the share of the service sector occurred in all countries, and the industrial sector in half of the countries. Globally, the presence of tertiaryization was recorded in countries with an income per capita above the average and in low-income countries, while reindustrialization was recorded in countries with a lower-middle income.
Keywords: tertiarization, reindustrialization, servitization, service sector, industrial sector, manufacturing, intersectoral structural shift, income level of the population. Hightlightts: - the post-industrial stage of economic development may equally be characterized by two opposite structural processes, namely tertiarization and reindustrialization, the scientific interpretation of the content of which has been clarified; - an empirical analysis of the current dynamics of the shares of the service and industrial sectors at the global level and at the level of leading national economies was carried out, on the basis of which it was concluded that there were no signs of processes of both tertiarization and reindustrialization of the world economy in the studied period, whereas in the largest national economies, insignificant tertiarization was noted; - the contradictions between the processes of tertiarization and reindustrialization are revealed, as the determining reason for the existence of which the conflict of goal-setting is established; - the factors of choice in favor of tertiarization or reindustrialization are highlighted, taking into account the level of socio-economic development of the countries.

Email:	slavaap@rambler.ru; elena.perepelkina21@gmail.com
Сведения:	Viacheslav A. Perepelkin - Samara State University of Economics, Samara, Russia; Elena V. Perepelkina - Fund2index GmbH, Frankfurt am Main, Germany

WORLD ECONOMY

Glebova A.G., Stroganova E.M.

The functioning of international cryptocurrency exchanges in the context of the digital transformation of the global economy

Abstract. Modern international cryptocurrency exchanges play a key role in the digital transformation of the global economy, providing infrastructure for trading, exchanging, and storing digital assets. However, their operation is accompanied by a number of challenges, including high volatility, regulatory uncertainty, cyber threats, and differences in legal approaches across countries. The aim of this study is to conduct a comprehensive analysis of international cryptocurrency exchanges, identify key factors determining their competitiveness, and assess the impact of regulation and technological innovation on their development. This article identifies the differences between centralized (CEX) and decentralized (DEX) exchanges and examines the factors determining the competitiveness of crypto exchanges, including commission rates, platform security, and regulatory barriers. Particular attention is paid to asset liquidity, commission levels, pricing mechanisms, and regulatory barriers. The study utilizes statistical analysis, comparative platform research, and regulatory analysis. The article examines modern technological trends, such as blockchain scalability solutions, smart contracts, the Lightning Network, and stablecoins. Based on the analysis, it concludes that a balance between regulatory measures and technological innovation is essential for the sustainable development of crypto exchanges. Key trends influencing the future of the cryptocurrency market are identified, including the expansion of international regulation, the growth of institutional investment, and the development of digital financial instruments.
Keywords: yptocurrency exchanges, digital transformation, centralized exchanges (CEX), decentralized exchanges (DEX), cryptocurrency regulation, blockchain, smart contracts, stablecoins, cryptocurrency innovations. Hightlightts: - international cryptocurrency exchanges provide liquidity for digital assets and grow through increasing institutional investments; - the competitiveness of crypto exchanges is determined by liquidity, fees, security, and regulatory compliance; - differences in cryptocurrency regulation create uncertainty, but global oversight of digital assets is strengthening; - technological innovations (blockchain scalability, smart contracts, Lightning Network) enhance exchange efficiency; - sustainable development of the crypto market requires a balance between regulation and technological innovation.

Email:	nauka_rf@mail.ru; kate.stroganoff@gmail.com
Сведения:	Anna G. Glebova, Ekaterina M. Stroganova - Financial University under the Government of the Russian Federation, Moscow, Russia

REGIONAL AND SECTORAL ECONOMY

Gerasimov K.B., Kolsanov A.A.

Model of innovative infrastructure of a medical university

Abstract. Improving the quality of management of innovative activities of a medical university and ensuring systemic generation of innovations requires the presence of a developed innovative infrastructure in the university that supports researchers and innovators. Despite the expressed public demand for new medical products and technologies, including in terms of achieving technological sovereignty, medical universities are mostly characterized by weak innovative activity associated with an underdeveloped infrastructure to support it. The article proposes a model of innovative infrastructure of a medical university aimed at eliminating this contradiction.
Keywords: innovative infrastructure, medical university, University 3.0, University 4.0. Hightlightts: - currently, the theoretical foundations for building an innovative infrastructure in a medical university are poorly developed; - the model of an innovative infrastructure for a medical university must be built on the basis of an analysis of best practices and orientation toward the University 3.0 and University 4.0 models; - the proposed model of an innovative infrastructure for a medical university is built on a block principle, allowing it to be implemented both in parts and in its entirety in accordance with the achieved level and capabilities of a particular medical university.

Email:	270580@bk.ru; aakolsanov@mail.ru
Сведения:	Kirill B. Gerasimov, Artem A. Kolsanov - Samara National Research University, Samara, Russia

Kravchenko P.P., Gavrilyuk E.S.

Analysis of innovative projects of enterprises of the forestry industry of the Russian Federation

Abstract. The work investigates innovative projects at enterprises of the forest industry of the Russian Federation. The sample of respondents to the survey is substantiated. A survey of 30 experts related to the forestry industry was conducted. Ten key types of forestry enterprise projects were identified. Based on the survey, forestry enterprise projects were assessed according to three parameters: project implementation frequency, project technological complexity, and project implementation cost. A comparative analysis of the frequency of innovative project implementation at forestry enterprises in the Russian Federation was conducted. A two-factor analysis of innovative projects at forestry enterprises in the Russian Federation was conducted. A map of innovative projects at forestry enterprises in the Russian Federation was created, divided into four areas based on complexity: simple projects, organizationally complex projects, technically complex projects, and complex projects. It is concluded that most projects in the forestry industry are complex.
Keywords: innovative project, innovation, innovative activity, forestry industry, forestry complex, forestry complex. Highlights: - there are 10 main types of innovation projects in the forestry industry of the Russian Federation; - the most common projects in the forestry complex of the Russian Federation are those related to automation, robotics, and data collection. Marketing projects and projects related to new materials and products are the least common; - projects related to employee training and professional development, as well as marketing projects, have both the lowest level of technological complexity and low financial costs at forestry enterprises in the Russian Federation. Projects related to logging machinery and equipment are the most costly, but they do not have the same high level of technological complexity as projects related to automation, robotics, and data collection; - most projects in the forestry industry of the Russian Federation are complex in nature.

Email:	ppkravchenko@itmo.ru; gavrilyukes@gmail.com
Сведения:	Pavel P. Kravchenko, Elena S. Gavrilyuk - ITMO University, St. Petersburg, Russia

Lesnykh N. Yu, Sozinova A.A., Fokina O. V.

Territorial brand models: comparative analysis

Abstract. The purpose of this study is to analyze theoretical works on place brand models developed by domestic and international scholars and, based on these studies, propose an integrated model of the regional brand. This study included a content analysis of the scientific literature, a comparative analysis of existing place brand models, and a modeling method. As a result, an integrative model of the regional brand was developed that reflects the essential foundation of a region`s brand, as well as elements of the brand formation and management process. This integrative model of the regional brand takes into account the key features and shortcomings of earlier models, as well as the influence of the place brand on the socioeconomic development of the region. This study holds promise for further research, including the verification of the integrated model of the regional brand and its practical application.
Keywords: territorial brand, regional brand, geobrand, integrative model of a regional brand, territorial brand model, socio-economic development. Hightlightts: - a comparative analysis of territorial brand models was conducted; - an integrative model of a regional brand was developed; - the relationship between a regional brand and the factors of its socio-economic development and external factors was illustrated.

Email:	usr23575@vyatsu.ru; aa_sozinova@vyatsu.ru; fokina@vyatsu.ru
Сведения:	Nadezhda Yu. Lesnykh, Anastasia A. Sozinova, Olga V. Fokina - Vyatka State University, Kirov, Russia

Makarov S.I., Lukianov M.A., Ivanov D.V., Sandler I.L.

Analysis of the industrial equipment market of the Russian Federation and the Samara region in the conditions of macroeconomic instability

Abstract. Since the early 2020s, a period of global economic instability has begun, negatively impacting the business climate, increasing risks and complicating business planning. This paper examines the key trends that have recently directly or indirectly affected the health of the wholesale trade sector—both overall and specifically in the industrial equipment category. Wholesale trade companies must understand the area of activity to which the main flows of goods and capital are shifting, where the next technological breakthrough is expected. Key trends for this market on a Russian scale are examined, the most important of which is the reorientation toward new trading partners. An assessment is made of the growth in retail profitability in Russia and, consequently, the growth of this business. It is concluded that current global market trends affect not only the Russian economy as a whole but also individual constituent entities of the Russian Federation, in particular the Samara Region.
Keywords: economic and statistical modeling, forecasting, industrial equipment, inter-territorial analysis, wholesale market, wholesale trade market indicators. Hightlightts: - an assessment was made of the growth in retail profitability in Russia and the Samara region, and consequently, the growth in the scale of this business; - the main trends that directly or indirectly influence the state of the wholesale trade sector - both in general and in the industrial equipment category - were identified; - the areas of activity toward which the main flows of goods and capital in the wholesale trade market are shifting were identified, and where the next technological breakthrough is expected.

Email:	matmaksi@yandex.ru; max16391@yandex.ru; dvi85@list.ru; i.sandler@samgups.ru
Сведения:	Sergey I. Makarov, Maxim A. Lukianov - Samara State University of Economics, Samara, Russia; Dmitriy V. Ivanov - Samara National Research University, Samara, Russia; Volga State Transport University, Samara, Russia; Ilya L. Sandler - Volga State Transport University, Samara, Russia

Pirozhkov M.D.

The role of personnel security in the development of technological sovereignty and strengthening the economic security of the region

Abstract. This article investigates the current development of technological sovereignty and its role in strengthening the country`s economic security. In the context of sanctions, economic security issues have become more important than those related to economic globalization. The emergence of legal documents in Russia in recent years that define the formation and development of technological sovereignty also confirms the increased importance of security in this area. This paper assesses Russian and international experience in enhancing the country`s economic security through the development of technological independence and regulation of the technology sector. Economic security indicators characterizing the innovative activity of regions are examined. An analysis of the structure and dynamics of technological innovation implementation in our country is conducted. The indicators are grouped by federal districts and by the degree of leadership in certain areas. Special attention is paid to the relationship between innovative activity and labor productivity. Based on the significant role of human capital in the formation of technological sovereignty, the role of personnel security in the development of technological sovereignty and strengthening the state`s economic security is determined. The main characteristics of personnel security that influence the increase of technological sovereignty are identified.
Keywords:technological sovereignty, personnel security, economic security, innovative activity, innovation, labor productivity. Hightlightts: - the development of economic security and the level of technological sovereignty of the state are closely linked and produce a synergistic effect when mutually enhanced; - indicators of economic growth and the innovative activity of organizations and regions form the information field for assessing both the level of technological sovereignty and the economic security of the state; - the effectiveness of innovation implementation can be determined through increased labor productivity; - personnel security, an element of the economic security system, is a factor in the formation of the country`s technological sovereignty.

Email:	offshoreengineer90@gmail.com
Сведения:	Maxim D. Pirozhkov - Samara State Technical University, Samara, Russia

Tyukhov D.S.

Barriers to the development of resource centers for socially oriented non-profit organizations: a regional perspective (experience from the Northwestern Federal District)

Abstract. This article addresses the issues surrounding the functioning of resource centers (RCs) supporting socially oriented non-profit organizations (SONPOs) in the regions of the Northwestern Federal District. RCs are viewed as key actors in providing infrastructural support at the regional and local levels. Based on a qualitative study, including semi-structured interviews with RC managers and specialists (n=21), and an analysis of secondary data, the author identified challenges and barriers to RC development at the regional level related to funding stability, human resource development, and interactions with other entities. Finally, the author proposes areas for improving infrastructural support for SONPOs, including the development of a concept for a standard for developing infrastructural support aimed at increasing the sustainability and effectiveness of RCs in the regional context.
Keywords: SONPO support, infrastructure support, resource centers, infrastructure organizations, NWFD. Hightlightts: - resource centers play a crucial role in strengthening the non-profit sector by providing information, consulting, and educational support to NPOs. They contribute to enhancing the professionalism of organizations, developing the management skills of their employees, and strengthening interactions with government agencies and businesses. However, their potential is limited by systemic challenges that require a comprehensive solution; - key barriers to the development of resource centers in the Northwestern Federal District have been identified: funding instability, staffing shortages, and weak intersectoral cooperation; - barriers to supporting resource centers at the regional level include: the lack of an institutional and strategic framework for the development of infrastructure support entities in most regions; a limited range of support tools for resource centers; the project-based nature of financial support, which often does not take into account the long-term and ongoing specifics of resource centers` work; - the regional development of resource centers is characterized by differentiation in the number of operating resource centers in the regions and at the municipal level, as well as in the mechanisms for their support from government authorities; - areas for improving infrastructure support for NPOs include the creation of a standard for developing infrastructure support for NPOs at the regional level, taking into account the best practices of the constituent entities of the Russian Federation, and the formation of an institutional framework for infrastructure development at the federal level.

Email:	d.tyukhov@yandex.ru
Сведения:	Denis S. Tyukhov - St. Petersburg State Electrotechnical University "LETI" named after V.I. Ulyanov, Saint-Petersburg, Russia

MANAGEMENT AND BUSINESS MANAGEMENT

Dolgopolov D.V., Yudina A.E.

Features of creating viral content within the framework of film preferences in Russian cinema

Abstract. This article investigates the effectiveness of viral content creation using Russian cinema as an example. The aim of the study is to identify the key factors influencing content virality and to analyze existing methods for creating viral content. The study utilized qualitative and quantitative methods, including a survey on specialized online platforms and interviews using the semantic differential method. Key findings include: pressing social issues are the most engaging topics for Russian viewers; plot and characters are the foundation for creating viral content; catchy phrases play a significant role in the spread of viral content; and word of mouth is the dominant method of spreading information about films among Russian users. The study emphasizes the importance of considering cultural values, trends, and audience demands when creating viral content in Russian cinema. Companies should focus on contemporary values and trends, create engaging characters, and include elements in the script that can generate active discussion among viewers.
Keywords: viral content, word-of-mouth, film promotion, semantic differential, audience preferences. Hightlightts: - a methodology for creating viral content was analyzed using Russian cinema as an example; - a quantitative study was conducted to clarify the specifics of Russian viewers` film preferences, as well as methods for disseminating information about film content; - the main methods of disseminating information within viral communication channels in the film content sector were examined.

Email:	dolgopolovguu@gmail.com; yudinaanna450@gmail.com
Сведения:	Dmitry V. Dolgopolov, Anna E. Yudina - State University of Management, Moscow, Russia

103

Timoshkin V.M., Dadykin V.S., Dadykina O. V., Nikolaenko E.P.

Improving the efficiency of working with the staff of a geological organization based on artificial intelligence

Abstract. Nowadays, managing any business sector is becoming increasingly complex and requires increasingly precise and predictable decisions. One of the most pressing issues has always been and remains HR. Effective HR management plays a vital role in any organization. In the era of digital transformation, systems, methods, and programs designed to address HR issues are being actively developed. However, to address HR issues, management must manage a large amount of information, which is quite difficult to objectively evaluate. For example, quantitatively assessing the skills, knowledge, abilities, and social status of a colleague within a team is extremely difficult. This article investigates an information system used to improve the economic efficiency of an enterprise`s HR management. This information system not only analyzes the current state of an organization`s HR potential but also generates recommendations on the need for measures to enhance the enterprise`s HR potential. The object of this work is an information system used for managing an enterprise`s HR potential based on artificial intelligence.
Keywords: ontology, human resources, artificial intelligence, efficiency improvement. Hightlightts: - to manage an organization`s human resources, it is necessary to combine various methods of objective and subjective assessment, including the 360-degree assessment method and expert assessment based on fuzzy logic and artificial intelligence; - the use of fuzzy logic is based on the use of an ontological model capable of identifying key entities within an organizational system and indicators that characterize these entities in terms of their interaction with other system elements; - the application of artificial intelligence to the research object is based on the use of neuro-fuzzy systems.

Email:	timoshkin.vitalik@yandex.ru; Dadykin88@bk.ru; Atamanova_281287@mail.ru; 79003727367@yandex.ru
Сведения:	Vitaly M. Timoshkin, Valery S. Dadykin, Olga V. Dadykina, Elizaveta P. Nikolaenko - Bryansk State Technical University, Bryansk, Russia

111

FINANCE, MONEY CIRCULA TON AND CREDIT

Bulavko O.A., Katabay P.Kh, Startseva O.E., Shirnin A.A.

Main approaches to the analysis and forecasting of the dividend policy of companies

Abstract. The objective of this work is to develop a model capable of forecasting the probability of changes in dividend payments based on the analysis of the company`s financial indicators. An analysis of existing scientific approaches to forecasting dividend payments, including signaling theory, agency cost theory, behavioral factors, etc., is conducted. Particular attention is paid to the influence of financial indicators (return on assets (ROA), debt-to-equity, free cash flow (FCF), revenue growth rate, etc.) on dividend payment decisions. The relevance of the study is due to the need to develop tools for forecasting dividend policy, which is especially important for investors and financial analysts in the context of market instability. A methodology for constructing a model based on logistic regression, which can be used to assess the probability of changes in dividend payments, is proposed and tested. The results of the work are theoretical in nature and can serve as a basis for further applied research. Practical recommendations are given for choosing tools for implementing models in order to effectively build and test predictive models of dividend policy.
Keywords: dividend policy, forecasting, logistic regression, financial indicators, analysis. Hightlightts: - the necessity of analyzing and forecasting the dividend policy of companies is proved; - the methodological foundations of building a model based on logistic regression are substantiated, which can be used to assess the likelihood of changes in dividend payments and develop proposals on ways to improve the quality and effectiveness of management.

Email:	vikigor163@mail.ru; katabay.pkh@rea.ru; oksana.vyakina@mail.ru; aleksey.shirnin@bk.ru
Сведения:	Olga A. Bulavko - Samara State University of Economics, Samara, Russia; Pavel Kh. Katabay - Plekhanov Russian University of Economics, Moscow, Russia; Oksana E. Startseva, Alexey A. Shirnin - Samara State University of Economics, Samara, Russia

118

Shavaleeva Ch.M.

Budget policy in the field of budget revenue formation: implementation features at the regional level

Abstract. Fiscal policy is the foundation for effective public finance management at all levels of the Russian Federation`s budget system. Despite the unified legal framework governing the functioning of public entities in Russia and common approaches to budget policy development, budget policy at the federal, regional, and municipal levels has its own specific features, most noticeably manifested in budget revenue policy. This is due to the diversity of revenue types and the delineation of powers to generate budget revenues between government bodies at different levels, which, in turn, is determined by the fiscal federalism model applied in Russia. Under these conditions, examining the specifics of budget policy implementation at each level of the Russian Federation`s budget system is of interest. This article analyzes the specifics of budget policy implementation in generating tax and non-tax revenues for the budgets of constituent entities of the Russian Federation. The powers of regional authorities in using various budget policy instruments and their current fiscal significance are examined, and a conclusion is drawn regarding the limited scope for maneuvering various budget policy instruments to increase budget revenues for constituent entities of the Russian Federation. The main research methods were analytical, statistical and comparative methods of analyzing data on the execution of budgets of the constituent entities of the Russian Federation, presented on the Unified Portal of the Budget System of the Russian Federation.
Keywords: budgets of the constituent entities of the Russian Federation, tax revenues, non-tax revenues, budget policy instruments. Highlights: - the ability to implement budget revenue generation policies at the regional level is significantly limited compared to the capabilities available at the federal level; - in most constituent entities of the Russian Federation, revenues generated from proceeds directly managed by regional authorities account for less than 10% of budget revenues; - the current situation is fraught not only with a formalistic approach to budget revenue management in constituent entities of the Russian Federation, but also with increased risks of budget revenue shortfalls due to the lack of flexibility in revenue management in conditions of economic instability.

Email:	Chulpan212@mail.ru
Сведения:	Chulpan M. Shavaleeva - Institute of Psychology and Education of the Kazan (Volga Region) Federal University, Kazan, Russia

126

ECONOMIC THEORY

WORLD ECONOMY

REGIONAL AND SECTORAL ECONOMY

MANAGEMENT AND BUSINESS MANAGEMENT

FINANCE, MONEY CIRCULA TON AND CREDIT