Abstract: The article presents a comprehensive analysis of mechanisms to enhance the effectiveness of innovation commercialization in Russian state corporations through strengthening coordination links among economic entities and developing ecosystem approaches to innovation management. Using the railway industry as an example, the study explores factors that hinder the commercialization of internal developments, including the issue of critical dependency of subsidiary innovation companies on orders from the parent structure (monopsony). The paper substantiates the possibility of transitioning from a "closed innovation" model to an open ecosystem management model. The dominant "closed innovation" model in a monopsony context leads to increased transaction costs of coordination and the formation of a "track effect." It is demonstrated how a hierarchical innovation management model exhibits exponential growth in transaction costs of coordination, creating potential opportunities for optimization through a transition to a platform architecture. The research utilizes the transaction cost theory of O. Williamson and R. Coase, a comparative analysis of innovation management models, and general scientific methods of research (analysis, synthesis, induction). Based on the conducted analysis, a significant correlation is identified between low levels of coordination among structural divisions and increased transaction costs; opportunities for optimizing corporate processes of innovation commercialization are formulated through mechanisms of public-private partnerships and diversification of funding sources. The scientific novelty of the work lies in the application of system dynamics methods to model the institutional trap of monopsony in the state corporate sector, highlighting a dual causal loop; the development of a typology of coordination barriers differentiated by transactional nature; and the proposal of mechanisms to enhance coordination among subsidiaries, the parent structure, and the external innovation ecosystem. The results of the study can serve as a foundation for developing strategies for the innovative development of large sectoral infrastructure corporations and shaping government policy regarding natural monopolies.

Keywords: commercialization of innovations, transaction costs, coordination, monopsony, institutional traps, ecosystem, spin-off, open innovation, technology transfer, railway industry

Abstract: The subject of the research is architectural solutions (technological and design) and a complex of management mechanisms (economic, social, institutional) of niche digital platform ecosystems (NDPEs). The object of the research is the ecosystems of NDPEs themselves, functioning in various sectors of the economy. The author examines in detail aspects of the topic such as the contextual conditioning of platform architecture, the evolution of management approaches from technical control to strategic environmental formation, and the relationship between the success of an ecosystem and external regional and sectoral factors. Special attention is paid to the fundamental specifics of NDPEs, which are focused not on a global scale but on deep digitalization of narrow industry segments or local markets, requiring the abandonment of universal templates. The aim of the work is to develop a conceptual model explaining how the features of architecture and the choice of management practices determine the resilience and growth of such ecosystems within a specific institutional and market environment, identifying key patterns in their design. The research is based on a mixed-methods methodology. In the first, theoretical stage, a literature analysis was conducted, and a three-level model was developed. In the second, qualitative stage, a comparative case study was applied to analyze architecture and management. The main conclusions of this research are, firstly, the identification of key distinguishing elements of NDPE architecture: a flexible core enriched with specialized industry modules, a strategy of limited open interfaces focused on the security of critical data, and the central role of structured industry data as a primary asset. Secondly, the development and empirical justification of a three-level classification of management mechanisms, including technical management of the core, socio-economic management of interactions within the ecosystem, and strategic management of relationships with the external institutional environment. A significant contribution of the author to the research topic is the identification and proof of the thesis that the effectiveness of the NDPE ecosystem is contextual and directly depends on the precise adaptation of its architecture and management model to the specifics of the local business environment. The key factor of resilience is recognized as the platform's ability to purposefully reduce high transaction costs in weakly formalized industrial or local environments. The novelty of the research lies in the comprehensive consideration of NDPEs as context-dependent hybrid institutions, which allowed for the formulation of practical recommendations.

Keywords: niche digital platforms, ecosystem, platform architecture, ecosystem management, industry economics, regional development, governance mechanisms, transaction costs, digitalization, three level model

Abstract: This paper is devoted to the analysis of the application of investment strategies in the stock market. The object of this work is strategies for forming an investment portfolio. The subject of this article is the strategy of maximum diversification of the investment portfolio. The purpose of the article is to analyze the profitability of an investment portfolio formed on the basis of a strategy of maximum diversification and compare the profitability after applying this strategy in comparison with other major investment strategies. The research methodology of this article is based on economic and mathematical modeling using the Python programming language. The analysis was carried out based on the statistical data of the daily quotations of 21 issuers of the Moscow Stock Exchange for the period from 02/10/2022 to 01/23/2026. The results of the analysis showed that the dynamics of portfolio values with an equally weighted equity investment strategy for almost the entire duration of the studied horizon show the best results compared to other strategies, including the strategy of maximum diversification. The scientific novelty of the research lies in the application of the methodology of maximum portfolio diversification for the analysis of investment strategies in stocks on the stock market of the Moscow Stock Exchange. The main result of this article showed that an equally weighted investment strategy can potentially show the maximum level of profitability in the stock market when implementing long-term strategies, however, portfolio rebalancing and expanded diversification (including not only stocks but also other instruments in the investment portfolio) can affect the final effect of profitability investment strategy. The prospects for researching this topic are related to the inclusion of various asset classes (currencies, precious metals, ETFs (exchange-traded funds), bonds) in the strategy of maximum diversification. The practical significance of the work lies in the possibility of using the findings to form optimal investment strategies.

Keywords: Maximum Diversification Portfolio, Mean-Variance Portfolio, Minimum Variance Portfolio, Equal Weight Portfolio, investment strategy, stocks, risk premium, diversification ratio, investments, stock market

Abstract: The basis of the digital twin is models, big data, the connection between the real and virtual object, and services that are created as a result of the developed and implemented digital twin. The paper presents the main trends in the development of the digital twin, drivers and barriers, and highlights the key players in the aviation industry. Companies are creating and implementing strategies that link business goals to the improvement of work processes in order to accelerate them efficiently. The main incentive for businesses is the opportunity to reduce costs and increase the lifespan of aviation equipment. Based on the analysis of scientific publications and a number of expert interviews with industry manufacturers, the possibilities of using digital twins for aircraft maintenance, improving flight safety, and optimizing the work of aviation enterprises have been studied. At the same time, it is considered how digital twin technologies can be applied in Russia's small aviation and what conditions are necessary for their successful implementation. Based on the results of the discussions, the best options have been identified. Special attention has been paid to the current readiness of Russian organizations for digital changes, as well as to the difficulties that hinder the implementation of such technologies. In the small aviation segment, the digital twin technology can be used as a tool for reducing costs, improving safety, and developing a digital engineering school. The research has led to the conclusion that there is a need to transition from fragmented digital projects to strategic management of the implementation of digital twins through the gradual development of potential by aligning the interests of business and the government. The goal is to integrate the digital twin technology into the long-term development strategy of the industry.

Keywords: digital twins, small aircraft, digital transformation, digital maturity, aviation industry, strategizing, methodology, barriers, drivers, import substitution

Abstract: The subject of the study is the managerial, organizational, economic, and strategic aspects of the digital transformation of oil and gas companies in the context of the development and implementation of artificial intelligence technologies. The focus is on the processes of forming and implementing key pathways of digital transformation, including technological solutions, organizational and managerial changes, business process transformation, and the integration of digital initiatives into the strategic management system. The research aims to analyze the mechanisms of utilizing artificial intelligence technologies to support managerial decisions, as well as to identify the relationships between the level of digital maturity of companies, the quality of management, and the sustainability of their development. Special attention is given to the systematic nature of digital transformation and to the conditions under which the implementation of intelligent technologies ensures a sustainable economic and managerial effect in the oil and gas industry. The methodological framework of the research consists of systemic and structural-logical approaches, methods of analysis and synthesis, as well as comparative analysis of practices in digitization and implementation of artificial intelligence technologies in oil and gas companies. The scientific novelty of the research lies in the development and justification of a comprehensive approach to analyze the digital transformation of oil and gas companies under the conditions of developing artificial intelligence technologies. Unlike existing studies, which predominantly emphasize the technological aspects of implementing digital solutions, this work considers digital transformation as a multi-level managerial process. A systematization of the pathways of digital transformation is proposed, including technological, organizational-managerial, business process, and strategic levels, as well as revealing their interconnections and complementary nature. Special attention is given to the role of artificial intelligence as a tool for supporting managerial decisions and as a factor in transforming strategic management mechanisms. The research concludes that the effectiveness of digital transformation in oil and gas companies is determined not by the scale of the implementation of individual digital technologies but by the degree of their integration into the management system and strategic development. It has been established that the application of artificial intelligence technologies requires simultaneous changes in organizational structure, managerial processes, and business models. It has been proven that only the comprehensive and coordinated implementation of all pathways of digital transformation allows for increased manageability, adaptability, and sustainability of oil and gas companies in conditions of high technological and market uncertainty.

Keywords: digital transformation, artificial intelligence, oil and gas industry, digital management, strategic management, business processes, digital technologies, intelligent systems, development management, digital economy

Abstract: The article is devoted to the features, prospects and problems of issuing various types of savings certificates. Until 2018, the bearer savings certificate was one of the most popular banking products. However, due to changes in legislation that led to the abolition of bearer savings certificates, credit institutions stopped issuing them in 2018. In turn, registered savings certificates, unlike bearer certificates, have always been unattractive for banks, since they were subject to insurance premiums. In particular, such general scientific methods of cognition as analysis, synthesis, deduction, induction, generalization were used as the methodological basis of the study. The method of financial analysis and forecasting, the statistical method, and the formal-legal method were also applied. The article establishes the insufficient justification for the reasons for banning bearer certificates. The topic of the study is of great importance for the Russian economy, since savings certificates in Russia have been regularly issued for several decades and have enjoyed good demand among the population, and their sudden withdrawal from the banking products market due to an unsuccessful legislative decision requires finding a solution to this problem. The relevance of the topic under study is also due to the increased need of the Russian economy for «long money» over the past three years. In his Address to the Federal Assembly in February 2024, the President of the Russian Federation proposed to provide special conditions for the placement of irrevocable certificates at the legislative level, which would stimulate the population to invest money in them. The article analyzes the bill on the issue of irrevocable certificates and considers the conditions for their placement proposed by the authors of the bill from the point of view of their attractiveness for banks and the population.

Keywords: securities, savings certificate, registered savings certificate, bearer savings certificate, bank, credit institution, deposit insurance, irrevocable savings certificate, term deposit, documentary security

Abstract: In recent years, such an instrument of inter-budgetary relations as a budget loan has been developing significantly. There is not only their prolongation, lower interest rates and easier conditions. They have acquired regulatory and stimulating functions for the development of territories and economic sectors. In particular, this allows for the implementation of an infrastructure budget loan issued on preferential terms by the federal budget for the implementation of investment projects of the regions of the Russian Federation. The improvement continued, and the right to write off such budget loans appeared, allowing the released funds to be directed to newly implemented investment projects. Therefore, the purpose of this study is to analyze the development of the regulatory framework for the functioning of the above-mentioned tools, identify problems, consider the actual results of their operation using the example of the Republic of Adygea and the Krasnodar Territory, as well as foreign experience in the implementation of such programs. It is also argued that at the moment the volume of write-offs of budget loans to the subjects of the Russian Federation is not significant, which causes difficulties in implementing new investment projects at the expense of the released funds. The present study was conducted using such methods as analysis, comparison, generalization, and synthesis. The results of the article draw several conclusions regarding changes in the mechanism for writing off budget loans during its term, their consequences and disadvantages. Firstly, there is a tendency to expand the scope and methods of applying the mechanism of writing off budget loans for the regions of the Russian Federation, as well as to increase the degree of its regulation. The legislator's direction of the mechanism for future development and further dissemination is observed, as evidenced by a significant increase in the number of regions' budget loans written off in 2024. The main result of the study is the revelation of the problems with investments projects of the regions and their inability to use the released funds for infrastructure development projects. Proposals were also made for better implementation of investment projects and prevention of possible risks based on the analysis of foreign experience.

Keywords: budget loan, infrastructure budget loan, investment project, territorial development, write-off of budget loans, the budget of the subject, regional development, spatial development, budget, public debt

Abstract: The paper examines the factors that influence the choice of a university. Today, a university's competitiveness is largely determined by its ability to attract future students. To achieve this, it is necessary to understand how they come to the decision to pursue higher education, why they choose a particular specialty, what sources of information they use, i.e., what factors influence their choice, and, finally, what factors influence their choice in favor of a particular university. The Russian higher education system is going through a difficult phase: on the one hand, it is experiencing the impact of post-COVID changes in the global higher education environment, and on the other, reforms at the national level. The aim of this paper is to identify the factors that have the most influence on the choice of university. The structure of the article includes an analysis of scientific literature, an analysis of qualitative data collected through a series of semi-structured interviews with students of the Faculty of Economics of Lomonosov Moscow State University, and a review and discussion of the results obtained. As a result, the motives for pursuing higher education, choosing an economics major, and the factors influencing the choice of university by undergraduate students at the Faculty of Economics of Moscow State University were identified, and the list of information sources used in the selection process was refined. The choice in favor of the Faculty of Economics of Moscow State University is due to its reputation, high ratings, the success of its graduates, the quality of education, the programs offered, positive experiences with the Faculty of Economics of Moscow State University prior to admission, including a positive impression of the campus, the example of relatives who are graduates of Moscow State University, and recommendations from teachers, friends, and relatives. The scientific innovation of the study involves identifying factors that influence the quality of education as perceived by undergraduate students, including the content and structure of educational programs, the qualifications of teachers, the strictness of interim control, the scope and depth of the subjects taught, the quality of the theory taught, the practical applicability of the knowledge gained, the quality of organizational issues, and the quality of communication between students and teachers; as well as determining students' attitudes toward bachelor's programs as the basic level of higher education, after which it is desirable to continue studying. Among the aspects that prevent bachelor's degrees from being considered full-fledged higher education are the likelihood of limited career growth, concerns about bachelor's degrees not being recognized as full-fledged higher education when changes are made to state education standards, and insufficient knowledge.

Keywords: higher education marketing, Russian universities, decision making, choice of university, bachelor’s degree, master’s degree, information sources, quality of education, field of study choice, economic specialities

Abstract: The subject of the study is the quantitative assessment of the inflation risk premium within the structure of interest rates in the Russian financial market and its application in structuring an over-the-counter inflation swap. The object of the study comprises the nominal and real government bond yield curves of the Russian Federation, as well as the key macroeconomic and external factors shaping the inflation risk premium under current economic conditions. Special attention is paid to geopolitical uncertainty and inflation dynamics as principal determinants of the inflation risk premium in the period after 2022, characterized by heightened volatility and structural shifts in the Russian economy. The paper investigates the decomposition of nominal yields using the parametric Svensson model and develops a factor model for estimating the inflation risk premium (IRP), making it possible to determine a fair premium to a floating rate within an inflation swap contract. The methodological framework includes econometric modeling techniques (OLS regression, random forest, and gradient boosting), the Svensson yield curve specification, and statistical time series analysis. The empirical base consists of monthly data on OFZ yields across maturities from one month to twenty years, realized inflation, and the RUSEPUINDXM geopolitical uncertainty index. The novelty of the research lies in the development and empirical validation of a factor model tailored to the Russian market that explicitly incorporates geopolitical uncertainty as an independent determinant of the inflation premium. The main conclusions confirm the statistical significance of the geopolitical factor across maturities, the robustness of the linear OLS model relative to machine learning algorithms on a limited sample, and the suitability of the Svensson parameter as a proxy indicator of the inflation risk premium. The results demonstrate the practical applicability of the proposed model for inflation swap structuring and inflation risk management.

Keywords: inflation, inflation risk premium, factor model, real yield, nominal yield, inflation swap, inflation swap premium, yield curve, Svensson model, geopolitical uncertainty

Abstract: To develop the marketing of the Zabaykalsky Krai territory, a study was conducted aimed at substantiating the need for the development of marketing strategy elements focused on retaining and attracting human capital. The research addressed the following tasks: 1) analyzed the theoretical foundations of territory marketing and its connection with the concept of human capital; 2) provided a quantitative assessment of the state of human capital and quality of life in Zabaykalsky Krai based on statistical data and rankings; 3) presented and interpreted the results of an author’s survey on the quality of life and sentiments of the population of Zabaykalsky Krai and its regional capital; 4) formulated practical recommendations for the development of territory marketing for the region's authorities. The subject of the research is the tools and mechanisms of territory marketing as factors in the preservation and attraction of human capital. The object of the study consists of socio-economic processes affecting the formation, preservation, and migration of the population in Zabaykalsky Krai. The study utilized general scientific methods of analysis and synthesis, statistical analysis, comparative method, and a questionnaire method to obtain primary sociological data. The methodological foundation was based on the concepts of place marketing, human capital, and regional development. The scientific novelty lies in the comprehensive analysis of demographic and economic indicators of Zabaykalsky Krai through the prism of territory marketing, integrating original data from the sociological survey of residents, as well as in the development of recommendations for the regional authorities for the development of territory marketing. The analysis of the socio-economic situation in Zabaykalsky Krai combined with the results of the author’s sociological survey of the population identified key problems hindering the retention and attraction of human capital. The study confirmed that the persistent outflow of migration and natural population decline are consequences of a complex of factors. The implementation of the recommended measures, based on successful practices of other subjects of the Russian Federation, may help to turn the tide of negative trends and shift the paradigm from "developing the territory" to "investing in people."

Keywords: territorial marketing, human capital, Zabaykalsky Krai, migration outflow, quality of the urban environment, socio-economic development, authorial population survey, economic indicators, demographic indicators, infrastructure

Abstract: The subject of the research is the organizational and economic relations arising in the process of formation, distribution and use of the resource base of the agro-industrial complex of the Republic of Dagestan in the implementation of interdependent strategic objectives of import substitution and increasing the export potential. The object of the study is the agro-industrial complex of the Republic of Dagestan as a multifunctional socio-economic system with significant natural, climatic potential, but characterized by a persistent deficit of certain types of resources and institutional constraints on their effective use. The author examines in detail such aspects as the current state of food self-sufficiency in the region and the structure of the export basket of the agro-industrial complex of Dagestan; the dynamics, structure of the resource base of agro-industrial production in the context of land, water, labor, investment and infrastructure resources; imbalances between the strategic goals of the industry development and the actual resource provision; institutional barriers hindering the redistribution of resources in favor of export-oriented and processing industries. Particular attention is paid to the analysis of critical infrastructure—the land reclamation complex and logistics hubs – as well as the problem of undefined property rights to agricultural land, which is a key constraint on investment activity in the sector. The aim of the article is to provide a scientific substantiation of priority areas for optimizing resource provision for the agro-industrial complex of the Republic of Dagestan. The theoretical and methodological framework is neo-institutional economic theory and the theory of comparative advantage. The following methods are used in the study: comparative, matrix, abstract-logical, and methods for assessing the economic efficiency of investments. The scientific novelty of the study lies in the development of theoretical and applied provisions for optimizing resource provision for the agro-industrial complex in the context of import substitution and export dualism. Structural disparities are identified between the quantitative successes of import substitution and the degradation of the resource base, which has exhausted the potential for extensive growth. The institutional nature of the constraints is established: the key barrier is not a lack of funds, but the undefined property rights to land and high transaction costs. The author's matrix for resource distribution across the "contribution to import substitution – export potential" quadrants is substantiated. Areas for institutional transformation are proposed: land inventory, creation of a Land Redistribution Fund, reorientation of subsidies toward resource-saving technologies, and development of cooperation. A special contribution of the author is the rationale for a paradigm shift in regional agricultural policy – from the "dispersion" of subsidies to a "resource focus" on priority subsectors and critical infrastructure. The matrix can be used to adjust agricultural development programs.

Keywords: resource supply, agro industrial complex, import substitution, food security, land reclamation, land resources, export potential, regional agricultural policy, institutional barriers, land inventory

Abstract: The article is devoted to the analysis of entrepreneurial activity of foreign students as a special form of their economic behavior in the conditions of the host society. The focus is on the specifics of student migration as a temporary and institutionally limited status, different from long-term labor migration. The socio-economic parameters of students' involvement in economic activities are considered, including the specifics of their legal status, access to the labor market, administrative requirements and the regulatory environment. Particular attention is paid to how the educational trajectory, the limited time horizon of stay and dependence on migration rules form the framework of possible economic activity. The subject of the study is the mechanisms of formation of entrepreneurial practices in a situation of institutional uncertainty, as well as the conditions under which the economic initiative of students becomes a way to coordinate educational, legal and material interests in the host society. The research uses the provisions of institutional theory, the theory of segmented assimilation and the concept of social capital; the empirical base consists of six semi-structured interviews analyzed by the method of thematic coding. The results obtained make it possible to clarify the ideas about the nature of the economic participation of foreign students in the host society, showing its structurally limited and functionally selective nature. It has been established that inclusion in entrepreneurial activity forms stable models of partial integration, in which economic activity is not accompanied by an equivalent expansion of social ties beyond narrow network circles. It is shown that network resources perform a compensatory function in conditions of institutional barriers, but at the same time reproduce closed channels of interaction. The scientific novelty of the research consists in the development of an analytical model that considers student entrepreneurship as a specific type of economic action due to a combination of temporary status, regulatory constraints and a limited planning horizon. It is concluded that it is necessary to take into account the institutional asymmetry and the peculiarities of educational migration when forming instruments of state and university policy in the field of supporting the economic activity of foreign students.

Keywords: international students, migrant entrepreneurship, adaptation strategies, institutional constraints, segmented assimilation, social networks, economic sociology, host society, legal status, qualitative research

Abstract: The subject of this study is the judgments of the accountant/management of the organization regarding the method of recognizing the facts of economic activity and calculating the values of items when preparing financial statements in accordance with the requirements of IFRS. The aim of the study is to form the basic semantic characteristics of the accountant's judgment concept; to identify widely used standards of professional judgment; calculate the coefficients of deviation between EBITDA and cash operating flow, indicating the degree of influence of judgment; identify industries that are characterized by a variance in profitability from operating flow and explain the possible causes of the deviations based on the general characteristics of the operating cycle of companies in the industry. In the process of studying the degree of influence of judgment, methods of logical and quantitative analysis were used. The ratio of operating cash flow and EBITDA for each organization for the periods from 2019 to 2022 was derived, the average value of all ratios within the industry was defined as the deviation coefficient. It has been proven that in certain industries, the influence of judgment is so significant that operating profit poorly reflects the operating cash flow of an organization. Deviation coefficients have been calculated, their use in the analysis of the income statement would help to offset the effect of the accountant's judgment. Calculated deviation coefficients can be used when comparing the profit and loss statements of companies from different industries, when forming conclusions about the financial well-being of the organization. Due to the impossibility of a correlation between the values in the income statement and the operating flow, a conceptual question is raised about the expediency of applying the accountant's judgment in companies of certain industries from a methodological and ethical point of view.

Keywords: Professional judgement, Fair value, Impairment, Accounting, Revenue, EBITDA, Operating cash flow, Accrual method, IFRS, Financial statements

Abstract: The article is dedicated to evaluating the effectiveness of internet marketing in e-commerce with a focus on integrating operational KPIs into the balanced scorecard system for strategic management of online business financial results. In the context of accelerated digitalization by 2025, when the global e-commerce market exceeds $6.8 trillion with a projected growth to $8 trillion by 2027, AI algorithms, omnichannel strategies, hyper-personalization, and social commerce are radically changing consumer behavior. The aim of the work is to develop a conceptual model for transitioning from fragmented digital channel metrics (traffic, conversion, average check, customer retention) to a multidimensional system of indicators. This model assesses the contribution of marketing to value creation, revenue growth, profitability, company sustainability, and competitive advantages, taking into account key trends like LTVCAC, ROAS, and NPS in the post-pandemic digital economy. The methodological basis includes systemic and process approaches, methods of economic and financial analysis, KPI management, and Balanced Scorecard, adapted to e-commerce. Indicators are structured by perspectives (finance, customers, processes, learning), goals are broken down into web metrics, and a comparative analysis of the effectiveness of internet communications is applied. As a result, a methodology for translating operational indicators (traffic, conversion, average check, customer retention, etc.) into a system of integral indicators related to revenue growth, profitability, and the value of the customer base has been developed. An adapted strategic goals map and a balanced scorecard system for internet companies are proposed, ensuring the comparability of marketing and financial results, as well as the ability to monitor the effectiveness of internet marketing at different management levels. The novelty of the research lies in the integration of KPI tools and Balanced Scorecard applicable to e-commerce and the formalization of the logic "from channel indicator to business value indicator." Conclusions are made that the use of the developed methodology enhances the substantiation of management decisions in marketing investments, allows for the optimization of marketing budget structure, and contributes to the growth of financial stability and competitiveness of e-commerce companies.

Keywords: internet marketing, e-commerce, key performance indicators (KPI), balanced scorecard, web analytics, strategic management, financial results, marketing investment efficiency, digital economy, the effectiveness of Internet marketing

Abstract: The article is dedicated to analyzing the mechanisms of financing the transition to sustainable agriculture in the People's Republic of China. The subject of the study is the institutional-financial models of public-private partnerships (PPP) used to implement environmentally friendly agricultural projects. The object of the research comprises ongoing projects and programs in the fields of organic farming, resource-saving technologies, agro-waste processing, and rural ecologicalization, realized with the involvement of private capital from 2015 to 2023. The author thoroughly examines the evolution of the regulatory framework in the context of the "ecological civilization" policy and its impact on the formation of the market for "green" PPPs. Special attention is paid to analyzing the structure of transactions, including risk distribution (construction, operational, market), revenue streams, and management functions between public and private partners. The aim of the work is to systematize and conduct a comparative analysis of the prevailing PPP models, identifying the conditions for their effectiveness and key issues for developing recommendations for their adaptation. The research is based on secondary data analysis, which is due to the limited availability of primary financial and operational information on specific PPP projects. To ensure data comparability and enhance the reliability of the conclusions, a wide range of sources has been used. The main findings of the work are: the dominance of models retaining ownership rights with private investors in infrastructure projects (biogas, logistics) and service concessions in the field of agricultural technologies; the critical role of local government investment platforms as catalysts and co-investors; and the high dependency of the commercial viability of projects on direct subsidies, tax incentives, and government guarantees for product sales. Based on a comparative analysis of cases, a typology of PPP models is proposed, based on the criterion “the target function of the project is the main source of return on private investment,” which allows for a more accurate prediction of their applicability. The novelty of the research lies in its comprehensive interdisciplinary approach, integrating aspects of agricultural economics, environmental policy, and public finance, and focusing specifically on the Chinese experience of "green" PPPs in agriculture, which has not been systematically represented in domestic scientific literature before.

Keywords: public-private partnership, organic agriculture, green finance, sustainable development, China, financing models, agroecology, ecological civilization policy, agricultural investment, environmental projects

Abstract: The study examines how gender imbalances in the labour market influence economic development, understood as the joint evolution of economic growth, labour productivity, and demographic outcomes. It analyses three forms of gender inequality—occupational segregation, the gender pay gap, and the gender gap in labour force participation—and treats them as systemic constraints that distort the allocation of human capital across sectors, occupations, and job positions, thereby lowering aggregate output and economic efficiency. The paper also considers the demographic dimension by analysing the relationship between female employment and fertility and the institutional arrangements that shape the compatibility of labour market participation with reproductive intentions. Methodologically, the paper synthesises findings from empirical studies and international organisations’ assessments, interprets cross-country regularities in labour force participation and the employment–fertility nexus in their institutional context, and supplements the discussion with illustrative comparisons of employment structures and demographic indicators. The paper contributes a unified conceptual framework that places labour market gender equality—conceived as narrowing gender gaps—at its core and links it to growth, productivity, and fertility, while specifying institutional conditions that determine the nature and strength of these links. The results indicate that losses in growth and output arise not only from lower female participation but also from inefficient talent allocation driven by segregation and barriers to high-productivity jobs and managerial positions. Pay gaps often exceed differences in observed productivity and reinforce persistent structural distortions. The employment-fertility relationship is heterogeneous and depends on job quality, childcare infrastructure, employment flexibility, and the division of household responsibilities. The findings can inform comprehensive policy packages aimed at achieving gender equality by removing labour market barriers, reducing pay gaps, and strengthening family support measures.

Keywords: gender inequality, labour market, gender segregation, gender pay gap, female labour force, economic growth, labour productivity, human capital, fertility, work family balance

Abstract: The subject of the research is the impact of artificial intelligence technologies on the transformation of the labor market in the Russian Federation amid accelerated digitalization of the economy and the implementation of AI in production, management, and service processes. It examines how algorithmization and the use of AI tools change the structure of labor demand, the content of labor functions, the requirements for employee qualifications, as well as the mechanisms for personnel selection and evaluation. The current indicators of the Russian labor market are analyzed, reflecting the combination of record-low unemployment with a persistent labor shortage and pronounced professional-qualification and regional imbalances. Special attention is given to the influencing factors of AI, including the automation of routine operations, productivity growth, the formation of hybrid professions, and the intensification of employment segmentation. It is shown that, in the future, a key outcome will be the redistribution of labor functions and the complexity of the competency model, rather than direct mass displacement of employment, which raises the tasks of proactive adaptation of labor market institutions. The methodological basis of the research consists of general scientific methods of analysis, synthesis, comparison, and generalization, as well as methods of statistical and structural analysis, applied to assess labor market indicators. A systemic approach was used, ensuring the examination of the impact of AI in relation to technological factors, socio-economic consequences, and institutional mechanisms for employment regulation. The scientific novelty lies in the systematization of the factors influencing artificial intelligence on the Russian labor market and in substantiating the logic of employment transformation as a structural process manifested in changes in the nature of work, qualification demand, and models of employment organization. Key directions of expected transformations are formulated: the expansion of hybrid professional roles, the increasing importance of AI competencies and data handling skills, the development of flexible forms of employment, and the algorithmization of management practices. It is shown that the uneven implementation of AI intensifies the risks of employment and income polarization, as well as the entrenchment of professional-qualification mismatches. The conclusion is made about the feasibility of implementing a set of adaptation measures, including the development of a national system of continuous education, the stimulation of corporate retraining, the updating of professional standards considering AI competencies, and the formation of principles for the transparent and responsible application of AI in labor relations.

Keywords: artificial intelligence, employment, labor market, automation, labor productivity, competencies, digitalization, workforce shortage, employment segmentation, labor relations

Abstract: This article presents Capability-Based Strategy (CBS) – an original architectural methodology for strategic management, designed to align corporate strategy, organizational development, and investment in conditions of high complexity and uncertainty (the NAVI world: Nonlinear, Accelerated, Volatile, Interconnected). The study offers a holistic model based on the structured synthesis of management theory (dynamic capabilities, enterprise architecture, composable organization) and contemporary practice. Key contributions include: A unified ontology of strategic markets, value streams, and business capabilities. A multi-level strategic dialogue framework for aligning strategy, architecture, and investments. A classification of business capabilities (focusing, producing, integrating, governing, enabling). An architectural approach to forming an investment portfolio targeted at developing core capabilities. The methodology is validated through transformational case studies of major Russian and European corporations in different industries (MTS, Adeo/Leroy Merlin, Ingosstrakh) and aligned with insights from leading consulting reports (Gartner, Bain, PwC). CBS enables organizations to transition from functional and project-based models to integrated business capability aligned enterprises in order to build consistent product- and platform-oriented ecosystems, enhancing strategic agility, operational efficiency, and long-term capitalization. The article concludes with a research agenda for quantitative validation and further development of the CBS toolkit, positioning it as a rigorous paradigm for managing corporate evolution in a dynamic business environment.

Keywords: division of labor, strategic management, enterprise architecture, strategic dialogue, dynamic capabilities, investment portfolio, business capabilities, organizational transformation, value streams, business ecosystem