Institutional foundations for the formation of the value of modern business: a categorical apparatus for studying the problem field

DOI: 10.33917/mic-1.108.2023.29-35

The article analyzes various research algorithms for studying the institutional foundations of the process of forming the value of modern business. The author focuses on the problem of disordered categories of this area of economic thought. In the scientific and regulatory literature, when describing economic phenomena and processes associated with the concept of “cost”, a number of categories are used (price, cost, cost, costs, economic value), which are often used as synonyms. The inaccuracy and uncertainty of the categorical apparatus within the framework of the issue under study are associated with institutional issues.


1. Coase R. Firm, market and law [transl. from English: B. Pinsker]. Moscow: Liberal Mission Foundation: New Publishing House, 2007. 221 p. ISBN 978-5-98379-087-2.

2. Williamson O.I. Economic institutions of capitalism: Firms, markets, “relational” contracting: [transl. from English]; [Scientific ed. and intro. Art. V. S. Katkalo]. St. Petersburg: Lenizdat, 1996. 702 p. ISBN 5-289-01816-6.

3. North D. Institutions, institutional changes and the functioning of the economy. Persian. from English. A.N. Nesterenko; foreword and scientific ed. B.Z. Milner. Moscow: Fund of the economic book «Nachala», 1997. 180 p. ISBN 5-88581-006-0.

4. North D. Understanding the process of economic change. per. from English. K. Martynov, N. Edelman. Moscow: Ed. house of the State un-ta – Higher. school Economics, 2010. 253 p. ISBN 978-5-7598-0754-4.

5. Macmillan’s Dictionary of Modern Economic Theory / General ed. D.W. Pierce; per. from English. Moscow: INFRA-M, 1997. 608 p. ISBN 5-86225-453-6.

6. Dictionary of financial and economic terms / A.V. Sharkova, A.A. Kilyachkov, E.V. Markina and others; under total ed. M. A. Eskindarova. – 3rd ed. M.: Publishing and Trade Corporation «Dashkov and Co», 2020. 1168 p. ISBN 978-5-394-02995-0.

7. Osipov Yu.M. Theory of economy. Textbook in 3 volumes. Vol. 1: General grounds. Moscow: Moscow State University: TEIS, 1995. 458 p. ISBN 5-7218-0026-0.

8. Razberg B.A. Modern Economic Dictionary / Raizberg B. A., Lozovsky L. Sh., Starodubtseva E. B. – 2nd ed., corrected. Moscow: Ed. house «INFRA-M», 1998. 476 p. ISBN 5-86225-758-6.

9. Financial and credit encyclopedic dictionary = Finance and credit encyclopedic glossary / General. ed. A.G. Gryaznova. M.: Finance and statistics, 2004 (OAO Type. News). 1165 p. ISBN 5-279-02306-X.

10. Dictionary of the Russian language: 52000 words / Comp. S. I. Ozhegov; under total ed. acad. S. P. Obnorsky. – 2nd ed., Rev. and additional Moscow: State. foreign publishing house and national dictionaries, 1952. 848 p.

11. Osipov Yu.M. Theory of economy. Textbook in 3 volumes. Vol. 1: General grounds. Moscow: Moscow State University: TEIS, 1995. 458 p. ISBN 5-7218-0026-0.

12. New Philosophical Encyclopedia: in 4 volumes / Institute of Philosophy Ros. acad. Sciences, National social-scientific fund; Scientific-ed. advice: V. S. Stepin [and others]. Moscow: Thought, 2000-2001. ISBN 5-244-00961-3. URL:

Budgeting trends in regional development

DOI: 10.33917/mic-4.105.2022.74-79

The article considers the problems of budgeting development in the sphere of regional management from traditional (estimated) budgeting by costs to the new budgeting, aimed at the results of state structures activity. It is substantiated that the implementation of national and federal projects entails the need for the development, approval and implementation of many projects at different levels of state and municipal administration. It is noted that the transition to the new budgeting will allow to formulate the information base, adequate to the development strategy of the region and the vector of political decisions.


1. Pollitt C., Bouckaert D. Public management reform. A comparative analysis. Oxford University Press, 2004.  p. 90.

2. Wang X. Performance measurement in budgeting: a study of county governments. Public Budgeting and Finance. 2000;(3, Fall):104.

3. Manning, N., Parison, N. Public Administration Reform: International Experience. Moscow: Whole World, 2003. pp. 49-50. (In Russ.).

4. Osborne D., Gaebler T. Reinventing Government: How the Entrepreneurial Spirit is Transforming the Public Sector. Plume. New York, 1992. pp. 117-124, 140-142.

5. Hans de Bruyn. Managing for Results in the Public Sector. Moscow: Institute for Integrated Strategic Studies, 2005. 180 p. (In Russ.).

6. Starodubrovskaya I.V. Result-oriented budgeting at the regional and municipal levels: approaches and recommendations, 2008. 184 p. (In Russ.).

7. Project management in authorities: textbook and practical work for universities / N.S. Gegedyush [and others]; responsible editor N.S. Gegedyush. 2nd ed. Moscow: Publishing house Yurait, 2020. 186 с.

8. Order 74-pv of 31.10.2016 (as amended) «On the Project Management – Project Office of the Administration of the Governor of St. Petersburg». [Electronic resource] // Official website of the Administration of St. Petersburg. URL:

9. Ludinova Yu.V. Organizational and financial mechanism of regional budget planning: theory, practice, ways of development / Ludinova Yu.V. abstract of thesis for the degree of Doctor of Economic Sciences. S.-Peterburg State Engineering.-Economic University. Saint Petersburg, 2011. (In Russ.).

Evolution of Scientific Views on the Problem of Forming Business Value


The article analyzes scientific views of different schools and directions of economic thought on the business value formation. In the study, the author identifies and analyzes the main approaches of theoretical and economic research to studying the problem of the business value formation: cost and behaviour. The author comes to believe that scientific views on the problem of value formation were evolving along the line of “cost approach → behavioral approach”. The process of forming the value of business is a system of economic interactions. Any system of economic interactions of various subjects should be institutionalized. Certain formal and informal norms and rules of conduct organize and coordinate the process of business value formation.


1. Engel’s F. Anti-Dyuring [Anti-Duhring]. Marks K., Engel’s F. Soch. [Works]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1961, vol. 20, pp. 242.

2. Smit A. Issledovanie o prirode i prichinakh bogatstva narodov: Antologiya ekonomicheskoi klassiki [Study on the Nature and Causes of the Wealth of Nations: Anthology of Economic Classics]. Vol. 1. Moscow, Ekonov, 1993.

3. Mill’ Dzh.S. Osnovy politicheskoi ekonomii [Fundamentals of Political Economy]. Moscow, Progress, 1980–1981, vol. 2, pp. 339–340, 351, 356.

4. Bem-Baverk E. Osnovy teorii tsennosti khozyaistvennykh blag [Fundamentals of the Theory of the Economic Goods Value]. Avstriiskaya shkola v politicheskoi ekonomii [Austrian School in Political Economy]. Moscow, Progress, 1992, p. 334.

5. Chemberlin E. Teoriya monopolisticheskoi konkurentsii: (reorientatsiya teorii stoimosti) [Theory of Monopolistic Competition: (Reorientation of the Value Theory]. Moscow, Ekonomika, 1996, 351 p.

6. Anan’in O.I. Struktura ekonomiko-teoreticheskogo znaniya: metodologicheskii analiz [Structure of Economic and Theoretical Knowledge: Methodological Analysis]. Moscow, Nauka, 2005, pp. 46, 47. (Ekonomicheskaya teoriya i strategiya razvitiya).

7. Blaug M. Ekonomicheskaya mysl’ v retrospective [Economic Thought In Retrospect]. Moscow, Delo Ltd, 1994, 720 p.

8. Marks K. Kapital. Kritika politicheskoi ekonomii [Capital. Criticism of Political Economy]. Marks K., Engel’s F. Soch. [Compositions]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1961, vol. 25, part I, II.

9. Keins Dzh.M. Obshchaya teoriya zanyatosti, protsenta i deneg [General Theory of Employment, Interest and Money]. Antologiya sovremennoi klassiki [Anthology of Modern Classics]. Moscow, Ekonov, 1993, p. 153.

10. Veblen T. The Place of Science in Modern Civilization. New York, 1919, p. 241.

11. Seligmen B. Osnovnye techeniya sovremennoi ekonomicheskoi mysli [Main Tendencies of Modern Economic Thought]. Moscow, Progress, 1968, 600 p.

12. Veblen T. Teoriya prazdnogo klassa [Theory of the Leisure Class]. Moscow, Progress, 1984, p. 216.

13. Marks K. Kapital. Kritika politicheskoi ekonomii [Capital. Criticism of Political Economy]. Marks K., Engel’s F. Soch. [Compositions]. Moscow, Gosudarstvennoe izdatel’stvo politicheskoi literatury, 1955–1981, vol. 23–25, 1960–1962.

Digitalization as a driver for the development of oil and gas companies in modern conditions

DOI: 10.33917/mic-5.100.2021.74-79

The article provides a justification for the feasibility of introducing digital technologies into the oil and gas industry, which nowadays experiencing a period of tightening competition because of falling oil prices, complicating the conditions for geological exploration and oil production, the development of «green» energy. There is a downward trend in demand for oil and petroleum products, which forces oil and gas companies to reduce costs and increase the efficiency of oil production in order to withstand pressure from competitors. For these purposes, many oil and gas companies are digitalizing their business processes. As the advantages of digitalization of the industry, the article discusses the reduction of costs for exploration and production of oil, and as barriers – underdeveloped infrastructure, a lack of highly qualified personnel and cyber threats.

Methods of reducing the cost of mining enterprises of the Murmansk region develop

The article analyzes the activities of mining enterprises of the Murmansk region, which is part of the Arctic zone of the Russian Federation, examines the problem of rising production costs, analyzes the composition and structure of costs, developed and presented methods to reduce them.

Methodological Aspects of Modeling Concept Value Assessment of Live Cycles in the Assessment Activities in the Russia

DOI: 10.33917/es-4.170.2020.80-91

The article discusses the subject of research, focused on the study of the transformation processes of the valuation methodology, focused on the effective management of sustainable and breakthrough socio-economic development by ensuring the effective implementation of National projects using the results of the value management genesis in valuation activities based on the use of the concept of cost-based life cycle assessment The relevance of this study is determined by the importance of solving the national economic problem of the need to ensure the launch of innovative high-tech investment cycles for the development of industries, enterprises and investment projects based on the formation of an updated methodological base for valuation activities. Moreover, it is proposed to use the model of formalizing the processes of valuation and cost and cost management in economic systems based on the life cycles of goods, products and works as the main evaluative ideology. The aim of the study is to develop a set of relevant methodological proposals for modeling the concepts of valuation of life cycles in the valuation of Russia in order to ensure its transformation that is sufficient for cost management of sustainable and breakthrough socio-economic development of the country through ensuring the effective implementation of national projects. The object of the study is the development of theoretical principles and conceptual approaches for modeling the methodological foundations of valuing and managing the life cycles of goods and products in the process of implementing national projects based on minimizing the cost of their life cycles, life cycle contracts, total costs and the cost of ownership of life cycles. As applied research methods, a comprehensive approach was used, based on analysis and synthesis, logical analysis, expert approach, methods of economic and mathematical modeling and forecasting.