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The World Experience of Transformation of Innovative Approaches to Assurance of Financial Stability of Social Economic Systems

Author

Listed:
  • Dudin, Mikhail

    (Russian Presidential Academy of National Economy and Public Administration (RANEPA), Russian Academy of Entrepreneurship)

  • Prokofiev, Mikhail

    (Financial University under the Government of Russian Federation)

  • Fedorova, Irina

    (Financial University under the Government of Russian Federation)

  • Frygin, Aleksandr

    (Financial University under the Government of Russian Federation)

Abstract

The aim is to explore main trends of assurance of financial stability of modern small and large social economic systems by using innovative approach. The following fundamental results have been obtained: - Regular external changes affects substantially the performance of social economic systems, their financial stability; - A social economic system is a particular object including two main subsystems; the social economic system can be structured by several hierarchic levels (microlevel, mesolevel, macrolevel); - The social economic system at the macrolevel implies the combination of mutually acting business and economic subjects with the performance in production and distribution spheres , the sphere of barter (the enterprises as independent economic units represent the microlevel or small social economic systems); - The financial stability of social economic systems is the latter’s ability of crisis free development at the balanced capital structure , glow of financial resources and obtaining the financial result ensuring both simple and expanded reproduction; - Assurance of financial stability of social economic systems should be based on the last achievements of the science of management of finances. It means in practice continuous innovations in management, arrangement of mutual cooperation with counteragents, implementation of business processes with their proper transparency; - The innovative transformation of assuring financial stability of social economic systems is a well-planed development process when the system accumulates the abilities for leading counteraction to risk factors, their transformation into economic and financial benefits. It can be considered as formation of the strategic development financial development.

Suggested Citation

  • Dudin, Mikhail & Prokofiev, Mikhail & Fedorova, Irina & Frygin, Aleksandr, 2014. "The World Experience of Transformation of Innovative Approaches to Assurance of Financial Stability of Social Economic Systems," Published Papers dud8, Russian Presidential Academy of National Economy and Public Administration.
    • Handle: RePEc:rnp:ppaper:dud8
    Note: Published in "Life science journal", #9'2014
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    References listed on IDEAS

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    1. repec:rnp:artcls:dud1 is not listed on IDEAS
    2. Daniel Covitz & Nellie Liang & Tobias Adrian, 2015. "Financial Stability Monitoring," Annual Review of Financial Economics, Annual Reviews, vol. 7(1), pages 357-395, December.
    3. Paul Geroski & Klaus Gugler, 2004. "Corporate growth convergence in Europe," Oxford Economic Papers, Oxford University Press, vol. 56(4), pages 597-620, October.
    4. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    5. Dudin, Mikhail & Ljasnikov, Nikolaj & Baranenko, Sergej & Busygin, Konstantin, 2014. "Use of environmental approach to innovation-oriented development of industrial enterprises," Published Papers dud4, Russian Presidential Academy of National Economy and Public Administration.
    6. repec:rnp:artcls:dud2 is not listed on IDEAS
    7. repec:rnp:artcls:dud4 is not listed on IDEAS
    8. Dudin, Mikhail & Ljasnikov, Nikolaj & Kuznetsov, Alexander & Fedorova, Irina, 2013. "Innovative Transformation and Transformational Potential of Socio-Economic Systems," Published Papers dud1, Russian Presidential Academy of National Economy and Public Administration.
    9. Dudin, Mikhail & Ljasnikov, Nikolaj & Pankov, Sergej & Sepiashvili, Ekaterina, 2013. "Innovative Foresight as the Method for Management of Strategic Sustainable Development of the Business Structures," Published Papers dud2, Russian Presidential Academy of National Economy and Public Administration.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Dudin, Mikhail & Sekerin, Vladimir & Smirnova, Olga & Frolova, Evgenia & Sepiashvili, Ekaterina, 2014. "State Anti-Crisis Management of Banking Sector: Looking for Optimization Ways and Contemporary Development Trends," Working Papers dudnov, Russian Presidential Academy of National Economy and Public Administration.
    2. Dudin, Mikhail Nikolaevich & Prokofiev, Mikhail Nikolaevich & Fedorova, Irina Yuryevna & Frygin, Aleksandr Vladimirovich & Kutsuri, Georgiy Nikolaevich, 2015. "International Practice of Generation of the National Budget Income on the Basis of the Generally Accepted Financial Reporting Standards (IFRS)," Published Papers d156, Russian Presidential Academy of National Economy and Public Administration.
    3. Dudin, Mikhail Nikolaevich & Prokofiev, Mikhail Nikolaevich & Fedorova, Irina Yuryevna & Frygin, Aleksandr Vladimirovich & Kutsuri, Georgiy Nikolaevich, 2015. "International practice of formation of the national budget revenues on the basis of generally accepted financial reporting system (IFRS)," Published Papers d158, Russian Presidential Academy of National Economy and Public Administration.

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