Abstract: The article examines the role of investment cooperation within the framework of the BRICS as an alternative mechanism for attracting foreign direct investment into the Russian economy in the face of sanctions pressure, which led to the disruption of its international investment ties. Since 2022, Western countries have practically curtailed their investment presence in Russia or frozen assets as part of sanctions. Under these conditions, the importance of the BRICS association has increased, the participants of which collectively form the largest «non-Western» investment block of the world economy. The study aims to analyze investment cooperation between Russia and the BRICS+ countries, assess its real scale, identify conditions and barriers to its expansion, and identify areas for the development and improvement of public investment policy, taking into account certain problems and key areas of development. The object of the study is investment cooperation within the framework of the BRICS, and its subject is the mechanisms, dynamics and institutional conditions for attracting FDI from the BRICS countries to the Russian economy. The research is based on general scientific methodology, as well as statistical data from national banks, international organizations and analytical centers. According to the results of the study, the BRICS countries are taking an increasingly important position in the global investment space, which means a structural shift in favor of non-Western centers of capital attraction. However, Russia found itself sidelined from this investment dynamic, the main reasons for which were the instability of the BRICS institutional architecture in the face of sanctions pressure and the threat of secondary sanctions. A number of areas have been identified for improving Russia's investment policy in the context of cooperation with BRICS partners (development of special investment regimes, accelerating the formation of an investment settlement infrastructure in national currencies and central securities, partial restructuring of the NBR in relation to the Russian position, and reorientation of investment priorities to technological sectors). Scenarios for further development of investment cooperation in the BRICS-Russia format are presented.

Keywords: BRICS, foreign direct investment, international investment position, sanctions, New Development Bank, pool of foreign exchange reserves, alternative investment channels, friendly jurisdictions, secondary sanctions, investment cooperation

Abstract: The article addresses the pressing issue of early detection of market regime shifts in the Russian stock market. To this end, a new indicator is proposed — vector acceleration α, computed as the difference between successive values of the co-direction coefficient λ. The analysis is conducted on extensive data from the MOEX index for the period 2013–2024, which encompasses three major shocks: the 2014 sanctions, the COVID‑19 pandemic, and the 2022 geopolitical crisis. Vector acceleration serves as a leading indicator: its shift into negative territory and a sharp increase in volatility signal structural shifts at early stages, before they become apparent in price movements. For each shock, the mean acceleration, standard deviation, and the share of extreme days are calculated. The original data are normalized into a two-dimensional time–price space; movement vectors and a trend vector are constructed within a 20-day rolling window, after which λ is obtained as a normalized projection. The acceleration response differs qualitatively depending on the nature of the shock: during the 2014 sanctions, acceleration stays near zero with moderate volatility; the 2020 pandemic produces a sharp but quickly fading spike; the 2022 geopolitical crisis is accompanied by a record drop in mean acceleration (-0.47) and abnormally high volatility (1.22), indicating a full-scale regime change. The scientific novelty consists in applying this indicator for the early quantitative diagnosis of market regime shifts: unlike existing domestic studies, the proposed indicator measures not the aftermath of shocks but the speed at which market coherence is lost in real time. The findings suggest that vector acceleration can serve as an additional risk-management tool, suitable for both retail investors and professional managers in the timely recognition of structural shifts.

Keywords: vector acceleration, market regimes, MOEX index, early detection, risk management, codirectional coefficient, early warning, stock market, volatility, exogenous shocks

Abstract: The subject of the study is the applicability of return on investment (ROI) and social return on investment (SROI) indicators to assessing the communication activity of state-owned enterprises. The purpose of the work is to determine the boundaries of the correct application of these indicators. The methodological basis of the study comprises comparative and institutional analysis, together with the decomposition of the calculation premises of value-based assessment. There are three such premises. The object of assessment should have its own budget and a measurable result, the contribution of communications to this result should be separable from the influence of other factors, and social outcomes should be given a justified monetary expression. It is shown that these requirements are met by individual communication projects and campaigns with a limited implementation period and a predefined audience. The ongoing communication activity of state-owned enterprises goes beyond these boundaries. Its costs are spread across management levels and adjacent services, its effect accrues to many groups of audiences at once, and some of the data needed for calculation cannot be disclosed due to regulatory restrictions. The scientific novelty of the work lies in systematizing these features and relating them to the calculation premises of value-based models. It is concluded that ROI and SROI are suitable for assessing individual communication programs where internal management information is available and calculation assumptions are disclosed. These indicators alone are insufficient for assessing ongoing communication activity, and the final judgment on effectiveness requires consideration of the institutional conditions in which the company operates.

Keywords: corporate communications, state participation, value-based assessment, return on investment, ROI indicator, SROI indicator, effect attribution, institutional constraints, proxy metrics, discount rate

Abstract: The specifics of the fuel and energy complex, which includes distributed electricity and heating networks, pipeline infrastructure, large facilities for the extraction and processing of energy resources, as well as many other production facilities and equipment, necessitate the use of technologies that allow creating virtual models of real objects and providing mathematical and simulation modeling, in particular digital counterparts. The subject of the research is the processes of formation and functioning of the digital twin of the fuel and energy complex of the Russian Federation. Based on two current challenges, namely the trend observed in global and Russian practice towards a decrease in the energy profitability of oil and gas production and the need to increase energy efficiency in the use of energy resources, digital twins can act as one of the key technologies for increasing the competitiveness of the Russian fuel and energy complex and related sectors of the economy. The work uses methods of information analysis and generalization, a structural and functional approach, a comparative analysis of scientific sources, as well as an analysis of the regulatory framework. The scientific novelty lies in substantiating the concept of the digital twin of the fuel and energy complex as an integrated system of digital models, shadows and twins united by a common architecture and semantic space. Considering that the data and models of digital twins used in companies can be useful for other economic entities and government agencies, as well as taking into account the potential for combining a large number of digital twins into a single industry-wide digital twin to improve the efficiency of public administration and make informed strategic and tactical decisions, the article discusses the prospects for creating the digital twin of the fuel and energy complex of the Russian Federation. The paper reveals the specifics of its functioning and identifies potential risks of development and implementation. The results of the study can be taken into account when developing state policy in the field of fuel and energy complex in terms of the implementation of projects (initiatives) in the field of digital twins.

Keywords: digital transformation, digital model, digital shadow, digital twin, digital twin prototype, fuel and energy complex, digital ecosystem, information systems, information infrastructure, information environment

Abstract: The subject of the research is the assessment of consumer preferences of residents of Moscow and the Moscow region regarding fish pâté enriched with a high-protein mineral complex (HPMC) based on fish powder from the tail fins of chum salmon. The object of the research is the segment of the pâté market and the behavior of the target audience when choosing functional products. The author examines in detail aspects such as the frequency of pâté and fish product consumption, criteria for product selection (taste, naturalness, price, nutritional value), the level of consumer awareness about functional additives and specifically about HPMC, as well as the willingness to purchase an innovative product. Special attention is given to analyzing factors that can stimulate purchases, such as the informational transparency of packaging, pricing policies, tastings, and expert recommendations. The research was conducted through a voluntary anonymous online survey from November 2025 to February 2026. The sample consisted of 364 respondents – residents of Moscow and the Moscow region, representing the economically active population. Statistical data processing was performed using descriptive statistical methods, and the results were visualized in the form of pie and bar charts. The novelty of the research lies in the comprehensive assessment of the market potential for fish pâté with HPMC – a functional product created using secondary fish raw materials, which aligns with the principles of zero-waste production and rational natural resource use. A significant contribution of the authors to the research is the identification of specific barriers and drivers for consumer acceptance of the novelty: a low awareness of the term "high-protein mineral complex" (47% of respondents are unfamiliar with it) along with a high willingness to purchase (76% expressed intent to buy the product). The main conclusions of the conducted research include: 88% of survey participants have a neutral or positive attitude towards the idea of enriching pâté with HPMC; consumers consider the key attractive properties of the product to be the increased protein content (78%) and mineral substances (72%); the optimal price markup should not exceed 10% – this price threshold is acceptable to 43% of potential buyers. The results confirm the economic feasibility of launching industrial production of fish pâté with HPMC and allow for the formulation of a well-founded market entry strategy, including an educational campaign, effective positioning, and organization of tastings.

Keywords: fish pate, high-protein mineral complex, fish powder, consumer preferences, functional products, enriched food products, sociological survey, nutritional value, market strategy, price elasticity

Abstract: The subject of the research is the methods, models, tools, and indicators for assessing the maturity of coordination relationships between large businesses and small innovative companies (SICs), considered as an independent object of measurement, separate from traditional metrics of innovative activity (number of patents, R&D expenditures, number of deals). Unlike approaches that focus on the fact of interaction (the presence of an accelerator, CVC fund, or partnership agreement), the subject of this research encompasses the qualitative structure of this interaction—the degree of institutionalization of coordination mechanisms, the depth of information exchange, the sustainability and reproducibility of partnership practices over time, as well as the relationship between the formal endowment of coordination and its actual conversion into measurable innovative outcomes. Special attention is paid to methods of comparable multidimensional assessment, allowing for the comparison of companies' coordination profiles based on a unified scale built on verifiable, publicly available indicators, making the method applicable both for academic analysis and practical diagnostics of managerial and regulatory decisions. The methodological foundation of the research consists of comprehensive and functional-analytical approaches using comparative and quantitative (statistical) analysis methods and the construction of integral (composite) indicators. The novelty of the research lies in the development of a composite coordination maturity index based on a multidimensional assessment model (seven dimensions D1-D7), including weighted aggregation of indicators. The methodology has been tested on a sample of 133 foreign and 100 Russian companies belonging to the large business segment, using data from open sources. A five-level scale of coordination maturity has been proposed, on the basis of which a ranking of the studied companies has been conducted, and coordination patterns have been identified. Conclusions. A coordination maturity index has been developed and tested, with its diagnostic capability confirmed on samples of foreign and Russian companies: a significant gap was found in the average level of maturity between countries, as well as a disproportion specific to Russian practices—sustained lag of actual effectiveness behind institutional framing of coordination, most pronounced in Strategic level companies. Based on this, differentiated recommendations have been formulated for large businesses, small innovative companies, and government bodies aimed at reducing imitative coordination and improving the efficiency of the allocation of innovative resources in the national economy.

Keywords: coordination, large businesses, small innovative companies, coordination maturity, composite index, innovation management, comparative analysis, assessment methodology, coordination development, empirical analysis

Abstract: The subject of the research is the career guidance product of a university and its types. The object of the research is the marketing activities of the university. The authors examine aspects of the topic such as: the place of career guidance in the university marketing system as an interrelation between the two elements "product" and "promotion"; the content of the levels of the career guidance product and a checklist for verifying the conditions for implementing each level (core product, basic product, expected product, augmented product, potential product); types of career guidance products in accordance with the taxonomy of experience levels and the tasks performed by career guidance; the readiness level of students to acquire the university's career guidance product on both free and paid bases; the prospects for implementing the digital twin technology at the level of the potential product for strategic management of the "student – university – employer" system. The purpose of the study is to develop a methodology for designing a career guidance product as an element of the university's marketing activities. The theoretical basis of the research includes the marketing mix, Philip Kotler's five-level model of a product, and V.P. Bespalko's taxonomy of experience levels. Remaining within the framework of the "promotion" element, career guidance addresses the task of psychological and pedagogical influence on the consciousness of youth and partial informing about the opportunities and prospects of professional education and development. The presence of unresolved career guidance tasks requires the university to reassess its existing approach, which justifies the reevaluation of the place of career guidance in the university marketing system. The authors' approach considers career guidance as an interrelation between the elements "career guidance product" and "career guidance campaign." The novelty of the research lies in the introduction of the concept of "career guidance product" and the formation of a methodology for its design. A classification of types of career guidance products has been developed (experience through "content," experience through "trial," experience through "education," experience through "self-determination," experience through "presentation"). For practical application of the research results, it is recommended that the university form a product portfolio that should include at least one type of career guidance product for each educational program of the university. The realization of the potential product is considered through the implementation of the digital twin of the learner, the digital twin of the university representative, and the digital twin of the labor market.

Keywords: university marketing, marketing mix, career guidance product, career guidance campaign, marketing communications, user experience, lifetime value of a learner, digital twin, experience, career guidance

Abstract: The subject of the research is the methodological toolkit for assessing the investment attractiveness of holding structures amid the development of corporate integration, the digitalization of corporate accounting, and the expansion of consolidated financial reporting practices. The object of the research is Russian holding structures as complex corporate groups uniting parent and subsidiary companies and forming a single economic result based on consolidated capital. Particular attention is paid to the limitations of traditional ratio-based approaches, oriented predominantly toward individual legal entities rather than toward the consolidated group as a single economic entity: the specifics of consolidated capital, the role of non-controlling interest, the influence of intra-group relationships on the holding's overall financial results, and the continuing relevance of harmonizing subsidiaries' accounting policies with the parent company's requirements when preparing reliable and transparent consolidated statements for the group. The methodological basis of the study comprises IFRS provisions on consolidation, methods for analyzing consolidated financial statements, an adapted multifactor DuPont model, and the LMDI-1 index decomposition method, which allows a quantitative assessment of the contribution of key factors to the change in return on consolidated capital without an unexplained residual. For the mixed multiplicative-additive factor model, a two-level procedure for its adaptation to the index method has been developed. The scientific novelty of the study lies in advancing the approach to assessing the investment attractiveness of holding structures through the use of the return on consolidated net assets (ROCNA) indicator as an integral analytical measure, as well as in developing a procedure for the joint application of the adapted DuPont model and the LMDI-1 method to quantify each factor's contribution without an unexplained residual. Unlike traditional methods oriented toward the indicators of individual organizations, the proposed approach makes it possible to account for the interests of both the parent company and non-controlling investors, and to reveal the influence of net asset structure, sales profitability, capital turnover, the cost of long-term financing, and the distribution of control within the group. The practical applicability of the methodology is demonstrated through a numerical example based on PJSC NK Rosneft. The author concludes that combining the ROCNA indicator with factor decomposition based on the adapted DuPont model and the LMDI-1 method provides a deeper, more formalized, and practically significant interpretation of a holding's investment attractiveness, making it possible to identify specific sources of growth or decline in its profitability.

Keywords: investment attractiveness, holding structures, consolidated capital, return on consolidated capital, ROCNA (return on consolidated net assets), consolidated financial statements, multifactor DuPont model, LMDI-1 index decomposition, factor analysis, non-controlling interest

Abstract: Abstract. Over the past decade, US shale oil production has grown from a marginal source into one of the principal drivers of world oil supply growth, and changes in shale oil output now have a strong and rapidly transmitted impact on economic policy, international trade and the energy security of both producing and consuming countries. Because shale oil operators can adjust drilling activity far faster than conventional producers, they are typically the first to absorb supply shocks, which makes an accurate, factor-based model of shale oil supply valuable to a wide range of market participants. The subject of the study is a shale oil supply model based on the analytical solution of the differential production equation, which links the change in production to the output of new wells — the product of rig productivity and rig count — net of the natural decline of legacy production. In its general form the equation can describe the dynamics of shale oil production with high accuracy, but obtaining a closed-form analytical solution requires the simplifying assumption of constant initial well debits (e·N = const); the validity of this assumption across different forecasting horizons had not previously been tested quantitatively, which limits confidence in medium-term forecasts built on the model. Using monthly EIA data for seven major US shale plays — Anadarko, Appalachia, Bakken, Eagle Ford, Haynesville, Niobrara and the Permian Region — over 2007–2020, a lagged regression analysis tests the constancy assumption at successively longer lags, while a factor analysis decomposes the change in shale oil production into the contribution of initial debits, the change in rig count, the change in rig productivity, and the natural decline of legacy production. The constant-debits hypothesis is shown to hold statistically up to a 22-month horizon, beyond which the corresponding factor loses significance and the analytical solution ceases to be reliable; the effect of initial debits is strongest at a 16-month lag, attributable to the time gap between drilling and well completion. The contribution of rig count and rig productivity changes is shown to grow with the forecasting horizon and, on medium-term intervals, to exceed the contribution of initial debits: an increase in rig count reduces production on average, while productivity gains have a persistently positive and larger effect, consistent with high-grading behavior during downturns and ongoing technological progress in well completion. The findings clarify the applicability range of the differential production equation, quantify the relative importance of drilling activity versus drilling efficiency, and can be used to improve the accuracy of short- and medium-term forecasts of US shale oil supply.

Keywords: shale oil, oil supply, differential production equation, decline curve analysis, regression analysis, factor analysis, production forecasting, drilling rigs, rig productivity, initial debits

Abstract: The problem of choosing forms of economic regulation has traditionally been the focus of applied research in new institutional economic theory. The procedural aspect of assessing the feasibility of a given regulatory measure is crucial to solving the practical problem of finding an optimal balance that compensates for market and government failures and takes into account the potential of hybrid forms of regulation such as co-regulation and self-regulation. This requires developing a vision of the desired outcome, a feasible plan for achieving it, and the identification of measurable indicators demonstrating its achievement. The aim of this study is to create a universal metric for regulatory quality suitable for broad practical application, primarily for justification of regulatory policy. The subject of this study is an Interest Score that puts both social and economic regulation on a single measurement scale, regardless of whether it serves public or private interests. The object of this study is regulation, the mechanism for rent appropriation, and the conditions for its reproduction over time. The research method involves constructing an integrated index based on theories of economic regulation. Each index component is assessed according to formal rules and algorithms. The data sources are the text of the draft act and the results of regulatory impact assessment. The novelty of this study is in its shift from assessing compliance costs to measuring the balance of benefits and costs of regulation. The index consists of five components, assessing the distribution of benefits and costs, barriers to market entry, the share of provisions with redistributive effects, and discretion in enforcement. The author's key contribution to this research is the theoretical justification for the index's composition. The author formalizes the identification of a regulation's beneficiary for the first time and describes an algorithm for assessing the concentration of benefits. The study resulted in the validation of the Interest Score using a specific draft regulation as an example. The practical significance of this result is in the Interest Score ability to compare regulations from different economic sectors using a common scale and to set measurable targets for the agencies drafting them. The main conclusion is the advisability of using the developed index when reviewing draft regulations containing regulatory requirements and preparing conclusions on their regulatory impact assessment.

Keywords: interest score, co-regulation, regulation impact analysis, redistribution, entry barriers, discretion, hygienic certification, public interest, interest group, economic regulation

Abstract: The article investigates the price capitalization of preferential mortgages in the regional residential real estate markets of the Northwest Federal District from 2022 to 2025. Capitalization is understood as a partial transfer of the financial benefit from subsidizing the mortgage rate into the price of the acquired asset. The empirical assessment is based on a comparison of the average price per square meter in the primary and secondary markets, the dynamics of mortgage issuance with state support, and institutional changes in preferential programs. To measure the observed price effect, the relative premium of the primary market to the secondary market is calculated. It is shown that in the Northwest Federal District, its value was 82.4% in the fourth quarter of 2022, 72.4% in the fourth quarter of 2023, 79.7% in the fourth quarter of 2024, and 61.9% in the fourth quarter of 2025. An interregional analysis for 2025 reveals significant heterogeneity: from −2.2% in the Pskov region to 69.0% in the Murmansk region. It is concluded that price capitalization depends not only on the scale of the mortgage subsidy but also on the depth of the primary market, the structure of supply, competition between segments, and the ability of regional construction to respond to additional effective demand. The aim of the study is to identify the scale and regional heterogeneity of the price premium in the primary market of the Northwest Federal District, which was formed under the conditions of the spread of preferential mortgages. The mass preferential mortgage has become one of the most significant factors in the Russian housing market in the first half of the 2020s. The reduction of the rate for borrowers while maintaining the high cost of market funding has changed not only the availability of credit but also the structure of demand. In the primary market, where the majority of programs were implemented, credit constraints for some buyers were eased more quickly than the supply of ready-to-sell apartments could expand.

Keywords: preferential mortgage, housing market, price capitalization, new buildings, secondary market, Northwest Federal District, regional differentiation, affordability of housing, project financing, housing policy

Abstract: The subject of the study is the organizational and economic mechanism for managing entrepreneurial risks in a manufacturing organization, considered as a structural-functional system that includes subsystems of planning, organization, motivation, and control, as well as informational support. The focus is on the internal relationships between the elements of the mechanism, the distribution of management functions across hierarchical levels, and the economic tools that allow for the minimization of the negative consequences of risk implementation while maintaining production efficiency. Special attention is given to quantitative and qualitative assessment methods for the probability of risk occurrence, their impact on operational and financial indicators, as well as the development of preventive measures and operational responses. Economic tools such as insurance, reserving, hedging, and diversification provide flexibility in responding to changes in the external and internal environment, contributing to the sustainable development of the organization under conditions of uncertainty and minimizing losses. The methodological foundation of the work is based on the systemic-functional approach, enhanced by structural analysis, synthesis, and cybernetic modeling of risks. The empirical basis consists of data from five industrial enterprises for the years 2019-2024, reflecting the dynamics of loss and expenses on risk management. The scientific novelty lies in the development of a three-level structural-functional model of the organizational and economic mechanism for managing production risks, distinguished by the introduction of the "regulatory quality of management" block, which links operational risk monitoring with long-term economic stability. Unlike existing linear models, the proposed scheme includes feedback loops between functional subsystems and an adaptive correction block for risk norms. Conclusions: 1) the effectiveness of the mechanism is determined not so much by the completeness of risk identification as by the speed of response of economic tools to changes in the risk profile; 2) structural excess in risk management reduces production profitability by 7-12% without a proportional decrease in losses; 3) the proposed model allows for a reduction in the interval for making compensatory decisions by 30-40% compared to traditional approaches.

Keywords: organizational-economic mechanism, entrepreneurial risks, production organization, structural-functional model, risk management, economic sustainability, risk management system, adaptive management, industrial safety, regulatory quality

Abstract: The subject of the research is the criteria and indicators of the effectiveness of scientific and technological programs for the development of human capital in small high-tech companies (SHTCs) in the context of accelerated scientific and technological development. The object of the study is the scientific and technological programs themselves aimed at developing human capital, implemented at the state, sectoral, regional, inter-organizational, and corporate levels with the participation or in the interests of SHTCs – knowledge-intensive startups, engineering companies, spin-offs from scientific and educational organizations, and high-tech service enterprises. Special attention is given to how the resource constraints of SHTCs, the high concentration of key competencies among individual carriers, project-based work organization, and the rapid obsolescence of specialized knowledge impose specific requirements on the content structure, operationalization, and multi-level nature of evaluation indicators. The effects arising simultaneously at three levels – program, company, and worker – necessitate a coherent system of criteria that reflects both the immediate results of training and long-term changes in the innovative, economic, and organizational activities of companies. The research relies on systemic, process, and resource approaches, elements of human capital theory, intellectual capital theory, and dynamic capabilities theory, as well as the logic of program-target evaluation. Methods of conceptual analysis, literature and regulatory framework systematization, indicator operationalization have been employed, with the analytical framework being the chain of "input–process–output–effect." The scientific novelty of the study lies in the construction of a systematic set of criteria and indicators at the intersection of human capital theory, SHTC research, and program evaluation, tailored to the specifics of SHTCs and the dynamics of accelerated scientific and technological development. Six complementary groups of criteria have been formulated: development of personnel competencies and learnability; research and innovation activity; productivity and quality of labor; economic and financial results; organizational and managerial effects; sustainability and reproducibility of human capital. Examples of indicators that meet the requirements of operationalizability, verifiability, low resource intensity of collection, and dynamic sensitivity have been defined for each group. The proposed architecture is determined by the intersection of the six groups of criteria, the cross-cutting logic of "input–process–output–effect," and three levels of assessment (program – company – worker), which ensures methodological consistency and flexibility of configuration for a specific type of program. The limitations of the system are justified, and directions for further research are identified, including empirical verification and integration with models of technological maturity of SHTCs.

Keywords: human capital, small high-tech firms, science and technology programmes, accelerated technological development, performance evaluation, criteria and indicators, multilevel assessment, programme-targeted approach, innovation activity, small technology companies

Abstract: The necessity of using a process approach in the system of developing the human potential of small business entities is justified. Based on a longitudinal study of the causes of labor shortages in small businesses, it has been established that the problem has an institutional character related to the system of developing remote territories, which has worsened since Russia transitioned to a market economy model. Years of population migration have created a negative balance of working-age population, while the presence of large extractive enterprises has formed an uncompetitive labor situation. The main forms and implemented projects for supporting small entrepreneurship in the regions of Siberia and the Far East are characterized, and data on types of subsidies for small businesses are provided. It is shown that the problems of a shortage of qualified personnel and low productivity of small enterprises cannot be resolved through direct financial support or one-time training. The maturity of the problem implies a search for modern effective solutions. The proposed transition to a process-oriented model, where staff development occurs through participation in management and activity processes, is the least costly and relatively simple stabilizing option. The process approach is considered as a methodological basis that creates an environment for learning, competence formation for process owners, and improvement leaders among small business employees. The authors propose a three-stage process model for working with the human potential of small business entities, which can be integrated into the work of small business support centers. Attention is drawn to the issues of business ownership transfer and the potential transformation of the process approach when replacing improvement leaders, which will maintain the stability of the business model and development potential. The authors emphasize the ongoing problem of economic security in the context of insufficient employee loyalty. A scheme for integrating process consulting and training into the regional infrastructure for supporting SMEs is proposed, as well as a scheme for managing small business security in the face of personnel issues.

Keywords: process approach, human resources potential, small entrepreneurship, regional support, economic security, business mapping, learning organization, business inheritance, Irkutsk Region, Zabaykalsky Krai

Abstract: The article is devoted to the analysis of current trends in the development of small and medium-sized enterprises (SMEs) in the Republic of Tatarstan and the assessment of the compliance of existing state support mechanisms with the needs of enterprises at various stages of the life cycle. The study examines the dynamics of quantitative and qualitative indicators of SME sector development, changes in the industry structure of entrepreneurial activity, the role of digitalization, production cooperation with large enterprises, and the increase in innovation activity. Based on statistical data and strategic analysis of the entrepreneurial environment, key constraints that hinder the transition of enterprises from the survival stage to sustainable growth and scaling have been identified. The theoretical basis of the research includes concepts of the enterprise life cycle (L. Greiner, I. Adizes, N. Churchill, V. Lewis), which allows interpreting the development of SMEs as a sequence of stages with various managerial and financial needs. The methodological basis of the study consists of statistical, comparative, structural, and strategic methods of analysis. The information base includes data from the Federal Tax Service of Russia, Rosstat, Tatarstanstat, the Ministry of Economy of the Republic of Tatarstan, as well as regulatory documents and scientific publications. The application of a comprehensive set of methods made it possible to identify trends in the development of the SME sector and justify the feasibility of improving state support based on a stage-based approach. The analysis showed that the existing system of state support for small and medium-sized enterprises in the Republic of Tatarstan is mainly focused on the creation of enterprises and their initial development. At the same time, as businesses transition to the stages of sustainable growth and scaling, the demand for investment financing, technological modernization, and tools for entering new markets increases. The results obtained justify the feasibility of transitioning to a staged support model, which provides for the differentiation of tools depending on the stage of the enterprise life cycle. This approach will enhance the targeting of state support and the efficiency of budgetary resources, which aligns with modern approaches to developing policies for small and medium-sized enterprises. The results can be used to adjust regional policies, fine-tune development institution tools, and develop digital support services for entrepreneurs, as well as be adapted for other regions with comparable economic structures.

Keywords: SMEs, state support, enterprise life cycle, stage-based approach, regional economy, Republic of Tatarstan, business scaling, digital transformation, innovative entrepreneurship, regional policy

Abstract: The purpose of the article - development of an application-ready model and technology for assessing the innovation climate of an enterprise. Objectives - to consider the main approaches to assessing the innovation climate of the enterprise, to study the Russian and foreign experience in assessing the innovation climate, to develop and apply one of the available technologies for assessing the innovation climate of the enterprise. The study used the methods of comparative and statistical analysis, expert survey on a structured questionnaire, which allowed to identify the key factors of innovation climate assessment, to compare the variability of opinions, to understand the essence of the problem and promising directions of its solution. The model of enterprise innovation climate assessment is developed by the authors of the article, socially identified key groups of judgments necessary for monitoring and development of measures to improve the innovation climate of the enterprise are made. The applied technology and the developed model for assessing the innovation climate of the enterprise can be used to identify key problems that hinder the development of innovation activity, to develop measures to improve the innovation climate in order to create favorable conditions for innovation activity at the enterprise.

Keywords: innovation, technology, innovation climate, innovation potential, innovation climate assessment, evaluation technology, diagnostic tools, motivation, innovation activity motivation, innovation culture

Abstract: The subject of the research is the financial and economic sustainability of professional football clubs and the tools for its quantitative assessment. The object consists of clubs from the Russian Premier League, with the empirical material being their annual audited reports for the 2025 financial year. The sustainability of the club is understood here as the ability to finance current activities and reproduce the resource base primarily from its own sources within a balance sheet structure that does not require external intervention. This understanding differentiates the club from a typical commercial organization. The club maximizes sports results under budget constraints, and a significant part of its revenue consists of support from the founders, reflected in the reports alongside earned income. Industry regulation sets threshold requirements for individual coefficients; however, there is no mechanism for comparing clubs on a unified basis. The development and testing of such a mechanism are the focus of this work. Based on the disclosures of the Russian Football Union for the 2025 financial year, eight coefficients were calculated and grouped into four blocks. Values were winsorized by deciles, normalized, and aggregated into an integral sustainability index in both additive and geometric forms. Ranking was verified through one-factor variants, exclusion of indicators and blocks, perturbation of weights, and bootstrapping. The ranking of clubs by sustainability diverges from their sports and media hierarchy. Sustainability within the league is distributed according to the completeness of the bases: the leading club has all four blocks exceeding 0.7, while the other fifteen clubs have their weakest block not exceeding 0.23. The contribution of each dimension and each indicator was measured by their sequential exclusion; the top position proves to be dependent on the composition of blocks. Excluding the reproduction block, represented by a single ratio with an actual weight of 25%, as well as excluding the operational efficiency block, transfers its value to another club. The indicator of the share of revenue based on contractual grounds is justified, dividing contractual and non-contractual forms of revenue; the disclosure does not allow establishing the affiliation of the payer, which is a limitation of the design rather than a solution to the issue of soft budget constraints. Data from one season do not allow for asserting either the presence or absence of a relationship between balance sheet purity and operational efficiency.

Keywords: financial sustainability, football industry, integral index, system of indicators, Russian Premier League, composite indicator, revenue base, soft budget constraints, financial fair play, sports economics

Abstract: The subject of the research is the degree of implementation of the national project "Personnel" in the subjects of the Russian Federation, examined in a regional context through the prism of a specially constructed integral indicator. The focus is on the quantitative and qualitative characteristics of the regional labor market, reflecting the effectiveness of the labor market, the quality of employment, and the efficiency of employment services. The study explores inter-regional differences in achieving the project's targets, factors determining the differentiation of subjects by the level of its implementation, as well as the nature and strength of the statistical relationship between the value of the integral indicator and the level of employment. A specific subject aspect is the assessment of the progress of the national project implementation based on official state statistics, which allows for ranking subjects, forming their typology, and justifying differentiated employment policy measures that take into account the structural features and initial conditions of specific subjects of the Russian Federation. The research methodology includes minimax normalization of eight specific indicators, their aggregation into an integral indicator by the method of simple arithmetic mean, quartile grouping of the subjects of the Russian Federation, as well as correlation and regression analysis of statistical relationships. The scientific novelty of the work lies in the development of a transparent methodological approach to comparable measurement of the degree of implementation of the national project "Personnel" in a regional context and the empirical confirmation of a statistically significant relationship between the integral indicator and the level of employment. For the first time, an aggregated assessment has been proposed that combines three substantive blocks of indicators, allowing for the ranking of subjects of the Russian Federation and their grouping. The findings indicate significant inter-regional differentiation in the progress of the project and the necessity of differentiated management: for lagging regions, priorities include eliminating structural imbalances and accelerated modernization of employment services infrastructure, while for leading regions, maintaining achieved results and disseminating successful practices are key. The results obtained can be used by federal and regional authorities, as well as research centers, in the development, adjustment, and monitoring of employment policy measures.

Keywords: labor market, employment of the population, national project, employment policy, integral indicator, regression analysis, retraining, employment centers, regional differentiation, quartile grouping