Archives

  • Earnings Management and ESG Performance in Gulf Cooperation Council Banks: A Multi-Method Analysis of Relationship Complexity
    Vol. 14 No. 1 (2025)

    This study investigates the complex, non-linear relationship between Earnings Management (EM) and ESG performance in banks operating in Gulf Cooperation Council (GCC) countries. Using a multi-method approach (Quantile, Threshold, and Quantile-on-Quantile Regression) on data from 2010–2024, we find that EM most severely harms median-ESG performers, exhibits a sharp negative impact beyond a specific threshold, and is highly asymmetric—greatest when high EM  combines with low-medium ESG. The analysis of ESG by individual pillar shows social performance drives this sensitivity, governance reveals a negative cycle, and environmental performance is neutral. These results challenge one-size-fits-all regulation, advocating for targeted oversight based on a bank's specific ESG and financial reporting profile.

  • Влияние санкционных шоков на техническую эффективность сельскохозяйственных предприятий: опыт молочного животноводства региона
    Vol. 26 No. 1 (2026)

    В работе оценивается влияние международных санкций 2014 г. и 2022 г., а также продовольственного эмбарго на техническую эффективность сельскохозяйственных предприятий. Оценка выполнена на панельных данных сельскохозяйственных организаций молочной специализации Ленинградской области за 2010-2023 гг. с использованием анализа стохастической границы. Показано, что продовольственное эмбарго 2014 г. сопровождалось снижением технической эффективности сельскохозяйственных предприятий, тогда как эффектом санкций стало приближение к производственной границе, что может быть связано с вынужденной оптимизацией ресурсов, более полным использованием существующего производственного потенциала, а также особенностями объекта и периода наблюдения. При этом положительный эффект санкций оказался слабее у предприятий с высокой долговой нагрузкой, а анализ вариации оценок технической эффективности не подтвердил усиления неоднородности предприятий в санкционных периодах. Полученные результаты могут быть использованы при разработке мер государственной аграрной политики, направленных на стимулирование организационной адаптации сельскохозяйственных предприятий, совершенствование механизмов льготного кредитования и повышение эффективности использования производственных факторов в условиях внешних ограничений.

  • Characters of Lolita in the Mirror of Transactional Analysis and Personality Adaptations: A Qualitative Study of a Dialogue Corpus
    Vol. 25 No. 1 (2026)

    The article presents a qualitative bilingual analysis of dialogues in Vladimir Nabokov’s novel Lolita, based on the original English version and the author’s own Russian version, in order to establish how the linguistic realization of the dialogues alters the characters’ dominant ego states and personality adaptations. The analytical framework integrates transactional analysis (Parent–Adult–Child ego states, transaction types, psychological games), the Joines and Stewart model of personality adaptations, and M.A.K. Halliday’s systemic functional linguistics (ideational, interpersonal, and textual metafunctions). The empirical base comprises 12 key dialogues between Humbert and Lolita, with each line presented in the English original and the author’s Russian translation. The Russian version systematically shifts the characters’ communicative positions: Humbert’s lines more often mark the Controlling Parent ego state, whereas Lolita’s mark an Adaptive Child with a high affective load; the English version is dominated by the neutral Adult with lower interpersonal modality. The linguistic markers of these shifts are discourse particles, repetitions, diminutive forms, and colloquial metaphors. Nabokov’s self-translation constitutes not a mere linguistic transfer but a deep psycholinguistic reinterpretation of the characters that intensifies conflict, power asymmetry, and emotional tension.

  • Does Information on Human Rights Violation and National Interests affect attitudes toward Biopolitical Bills: Experimental Evidence from Russia
    Vol. 24 No. 1 (2026)

    Russian lawmakers increasingly pursue biopolitical bills, justified as protecting state interests yet infringing human rights. Using a 3×3 factorial survey experiment on 523 Russian respon dents, this study examines how brief information on national interests or human-rights viola tions affects the issue salience, general attitude, and support elicited by such bills. Information emphasizing national interests has a small but significant effect on attitudes and support; in formation on human-rights violations matters only once a moderator (heterogeneous treatment effect) is included. The key findings of this paper are as follows: 1) the mere presence of national interests might serve as a reminder of official state positions, and thus act as a piece of “hard” propaganda and induce social desirability bias; 2) brief information on human-rights violations serves as a reminder only for that cohort of respondents who already exhibited strong preferences for individual human rights over state interests. Descriptive evidence on attitudes toward biopolitical bills suggests a high degree of heterogeneity, and therefore no universal attitude toward biopolitical bills can be established. At the same time, the effects on attitude do not translate into action or strong support for either type of bill, nor do they induce any change in perceived salience.

  • HOW INNOVATION TAKES SHAPE: ORGANIZATIONS, ECOSYSTEMS, AND TECHNOLOGICAL FUTURES
    Vol. 23 No. 1 (2026)

    The last decades witnessed a never-ending debate about the generation of innovations under different circumstances and, to a lesser extent, on adoption. With a dedicated focus on technologies, the topic of adoption and diffusion emerged only a little. However, this focus is on technologies, expressed in Technology Acceptance Models and Technology Diffusion Models, which cover only parts of the overall spectrum of innovation types. Innovation Diffusion Models similarly highlight innovation adoption but pay less attention to implementation. The challenge, however, lies more with the implementation of innovation than with initial adoption. This is especially the case for organizational innovation, which causes considerable change inside organizations. Changes inside organizations aren’t always welcome and supported by people, which resulted in the change management paradigm.

    The working paper highlights these general thoughts. It comes in two parts. The first focuses on Organizations, Ecosystems, and Institutional Power, and the second on Saturation and the Limits of Adoption.

  • THE SOCIAL LIFE OF INNOVATION: TRUST, RESISTANCE, AND THE UNEQUAL COSTS OF CHANGE
    Vol. 22 No. 1 (2026)

    Innovation has been discussed in political, academic, management and public debates for many years. It’s usually understood as a driver of change and economic development in different contexts depending on the nature of the debate. What is often neglected is society and people’s perceptions. In each debate, a handful of representatives of social groups claim the authority to define how innovation should be interpreted, used, and understood. Consequently, numerous theories have emerged highlighting innovation's meaning for different purposes, always depending on the scope and perception.

    The collective working paper now collects a broad range of aspects on the topic. It’s split into two parts: the first looks at how societies judge innovation, and the second discusses winners and losers.

  • CORPORATE CULTURE OF A TECHNOLOGICAL SPIN-OFF: INFLUENCE ON THE COMPANY'S INNOVATION CULTURE
    Vol. 21 No. 1 (2026)

    The paper aims at investigating how the corporate culture of a technological spin-off can influence the innovation culture of its parent company. The topic addresses a gap in existing research, considering technological subsidiaries as means of business expansion, disregarding their cultural specifics’ potential. However, several pre-conditions, indicating this potential have been identified within scientific literature and served the basement for research hypothesis formulation. Accordingly, a research hypothesis was aiming at that by setting technological spin-offs for business expansion purposes, companies can also benefit by innovation culture development through mutual interaction and optimizing the efforts towards fostering innovation maturity.

    The paper concludes on the innovative nature of technological companies’ corporate culture. Key barriers to innovation culture development and diffusion within the parent company were discussed, which served the limiting factors for technological spin-off’s corporate culture influence further in the study.  The interaction forms between parent company and its technological subsidiary were considered and based on them existing and potential mechanisms for cultural transfer from MWS to MTS PJSC were identified, including employee transitions, knowledge sharing, technological transfers, and the "contagion effect." including employee transitions, knowledge sharing, technological transfers, and the "contagion effect."

  • Bridging the Finance-Energy Gap: Multidimensional Financial Inclusion and Heterogeneous Renewable Energy Adoption in Developing Countries
    Vol. 20 No. 1 (2026)

    This study examines the relationship between financial inclusion and renewable energy consumption (REC) in 53 developing countries over the period 2010–2022. To capture the multidimensional nature of financial inclusion, the Multidimensional Financial Inclusion Index (MFII) is constructed combining indicators of Access, Usage, and Quality. The analysis employs fixed effects with Driscoll-Kraay standard errors complemented by Method of Moments Quantile Regression (MM-QR) to explore heterogeneous effects across the distribution of REC. The results reveal a positive and statistically significant association on average. However, the magnitude varies considerably across the distribution, with the largest coefficients observed among countries with the lowest levels of renewable penetration. Threshold analysis indicates that the marginal association diminishes after a critical level of financial inclusion is attained (MFII ≈ 52.3). Dimensional decomposition shows that the Usage dimension of financial inclusion drives the observed relationship, while Access and Quality function as enabling conditions. These findings underscore the importance of integrating financial inclusion policies with broader energy transition strategies, particularly in countries at early stages of REC, where expanding active financial usage may yield the largest gains.

  • Hybrid Competition under Fragmented Demand and Limited Consumer Choice
    Vol. 19 No. 1 (2026)

    This work develops a tractable model of price competition in fragmented markets where consumers consider both local and distant varieties, with cross-regional purchases subject to stochastic costs. Global competition and full localization emerge as polar cases; hybrid competition is not merely intermediate and exhibits distinctive features such as an endogenous price ceiling and non-monotonic entry into the market under fragmentation. Equilibrium profits are ordered: localization yields the highest, global competition the lowest. The consumer surplus is ranked in the opposite direction. Our analysis also shows that trade liberalization can reduce market efficiency.

  • Determinants of consent to personal data surveillance: Experimental evidence from Russia
    Vol. 18 No. 1 (2026)

    Rapid development of surveillance technologies is one of the most socially important consequences of the digital age. This paper investigates the factors determining consent to surveillance of various types of personal data and contributes to rapidly growing research on citizens’ perceptions of surveillance practices. Relying on a comprehensive survey experiment, we study the effects of data types, the identity of surveillance agents, the transparency of surveillance, its imposition and benefits on participants’ consent to data surveillance. Our findings indicate that data types are associated with different levels of consent. The identity of the surveillance agent also matters, as participants are more inclined to trust this function to a state rather than to non-state entities. Imposition and transparency of surveillance, on the other hand, do not affect consent, while the effect of explicit benefits is surprisingly minimal. Overall, the empirical results indicate that the data type and the identity of the surveillant are pivotal characteristics that shape attitudes to surveillance, with other attributes of surveillance technology being almost irrelevant.

  • Современная российская мультипликация как инструмент воспитания традиционных духовно-нравственных ценностей
    Vol. 17 No. 1 (2026)

    В статье предпринимается попытка описания образовательного и воспитательного потенциала современной российской анимации в аспекте формирования представлений молодого поколения о традиционных российских ценностях. С опорой на медиа- и семиотический анализ, метод культурно-исторической интерпретации рассмотрены анимационные российские проекты, созданные с 2000 года по 2025 гг., находившиеся в прокате в эфире телевизионных каналов либо стриминговых сервисов с большой аудиторией. Важной особенностью аналитической оптики является представление о мультфильмах как разновидности массовой коммуникации. Сделан вывод об особенностях репрезентации семейных, патриотических и национально-культурных ценностей, а также возможностях использования указанного материала в образовательном и воспитательном процессе.

  • Recycled footage как стратегия работы с архивным материалом в американском независимом кино
    Vol. 16 No. 1 (2026)

    Настоящая статья посвящена теоретическому осмыслению практик использования архивного материала в американском независимом кино. В качестве аналитической категории предлагается понятие recycled footage, фиксирующее процессы переработки пленки, повторного монтажа и материальной циркуляции изображения. Теоретическая рамка исследования – концепция индексальности и архивного эффекта. На примере фильмов Брюса Коннера, Холлиса Фрэмптона, Кена Джейкобса и Эрни Гера демонстрируется, как практика recycled footage функционирует в качестве инструмента рефлексии, формирующего особый режим исторического восприятия и медиальной памяти.

  • Кино как философия: концепция Стэнли Кэвелла
    Vol. 15 No. 1 (2026)

    Данная статья посвящена изучению подхода Стэнли Кэвелла к кино как философии на  материале трех разборов самим Кэвеллом фильмов Золотого века Голливуда – «Это случилось однажды ночью», «Письмо незнакомки» и «Филадельфийская история». На основании анализа русскоязычных источников о философии кино Стэнли Кэвелла было выявлено отсутствие попыток комплексно осмыслить его концепцию кино как продуктивного средства философии, в связи с чем был произведен обзор основных  трудов Стэнли Кэвелла в этой области и сделаны выводы о потенциале кино в решении проблем скептицизма и морального перфекционизма.

  • A New Approach to Identifying Political Connections: Evidence from the Russian Banking Sector
    Vol. 1 No. 1 (2025)

    This paper introduces a new approach to identifying and operationalizing the business political connections of banks.  We manually collect data on 2,598 bankers who owned or worked in 115 Russian banks from 2015 to 2021 and use this dataset to describe the types of political connections of Russian banks and to unveil their institutional patterns by applying cluster analysis. We confirm the widespread and heterogeneous nature of political connections in the Russian banking sector and provide a more detailed understanding of the degree of penetration of political interests into the activities of banks. We propose and explore a set of variables catching the origins, relevance, and maturity of political connections which produce additional variation among banks and could be used to facilitate a better and more theoretically grounded assessment of the effects of political connections on the business choices and the financial performance of banks.

  • State, Religion, and Law in Russia
    Vol. 13 No. 1 (2025)

    According to its Constitution, Russia is a secular state where the church is separated from the state. However, it would be incorrect to rule out any influence of religion onto law only because of these constitutional principles of secularity and separation. Many of our moral concepts and ethical convictions are imbued with religious meanings, many of them historically have their roots in religious traditions and cannot be properly understood without reference to these traditions. Religion has always been and remains an important factor for decision-making of many people. This holds true also for judges and legislators, even if they are often reluctant to acknowledge this importance. There are many studies which deal with the relations between Orthodox Church and the Russian State and the influence of the Orthodox religious ethics on Russian law. Below, we examine each of the main religious denominations which coexist with the Orthodox Christianity: Catholicism and Old Believers inside the Christianity, Islam, Buddhism, and Judaism. We analyze the relations between the state, the law and main religious denominations in Russia, except the Orthodox Christianity, and how these relations may affect law-making and law-enforcement.

  • Parenthood Penalty in Russia: Evidence from Exogenous Variation in Family Size
    Vol. 12 No. 1 (2025)

    The present study aimed to improve upon the existing correlational literature on the parenthood penalty in Russia. An instrumental variables approach based on sibling sex composition and multiple births was employed to analyze rich census datasets. To  the best of the authors’ knowledge, this is the first study to provide causal estimates of the effect of fertility decisions on subsequent labor market outcomes for mothers  and fathers in contemporary Russia. The study’s primary finding is that, in contrast to the approximately 10 percent long-term motherhood penalty observed in developed countries, the causal impact of childbearing on women’s employment in Russia is most  significant in the first year after birth, reducing employment by around 15 percent. This penalty then rapidly declines to a modest 3 percent once children reach school age. The analysis indicates an absence of a systematic fatherhood penalty in terms of  employment, although a modest increase in labor supply is observed.

  • Momentum Factor or Factor Momentum in REITs Market?
    Vol. 11 No. 1 (2025)

    We study the application of factor investing in the market for real estate (REITs). The analysis of traditional factor strategies, such as momentum, value, size and profitability, reveals their unstable and atypical behavior in comparison to the equity market, however, there is a strong momentum effect in the factor strategies. We  propose a new dynamic strategy, which is based on the factor momentum effect. The  strategy buys the factor portfolios with the best past performance and sells short the factor portfolios with the worst past performance, with monthly rebalancing. The  factor momentum strategy yields a significant positive average return and alpha of about 6% pa, it has high Sharpe and Sortino ratios. The strategy outperforms all traditional single-factor strategies in different market states and sub-periods. The superior returns in adverse market conditions makes it particularly attractive.

  • Causal effects of vaccine uptake and population mobility on COVID-19 cases and deaths in Russia
    Vol. 10 No. 1 (2025)

    This paper analyzes short-run COVID-19 dynamics in Russia using a weekly panel of 12 regions over 54 weeks. Growth rates of cases and deaths are modeled as functions of vaccination uptake and behavioral activity, with region fixed effects and a set of controls. Identification uses three  sources of exogenous variation: the timing of regional QR-code mandates as an instrument for Retail & Recreation mobility, news about potential WHO approval of Sputnik V interacted with  the mandate indicator, and a short post-mandate window as instruments for vaccination. First-stage  diagnostics show strong relevance (the homoskedastic partial F-statistics are 519 for mobility and  98 for vaccination), while event-study and placebo checks detect no pre-trends or reverse-timing  effects (future WHO-related news terms do not predict current vaccination). TSLS estimates  indicate a clear protective role of vaccination (particularly full immunization) and a positive causal  impact of mobility. The six-week vaccination lag reduces future growth in cases and deaths, with the effect more than twice as large as naïve OLS suggests. The impact of mobility on subsequent  cases and deaths is about twice as large as suggested by OLS and remains robust across different  specifications. Overall, under standard IV assumptions, completing full vaccination and reducing  high-contact leisure activity substantially reduce short-run transmission and mortality.

  • Paths to Self-determination: A Comparative Study of the Sociological Contexts and Resistance Strategies of Biafra and South Sudanese Emancipation Movements.
    Vol. 9 No. 1 (2025)

    This study examines the trajectories of the Biafra (located within current Nigerian territory) and  South Sudan self-determination movements through qualitative analysis of interviews, surveys,  and document sources. The research employs a triangulated data approach, including thematic  analysis of 10 in-depth interviews with activists and scholars (7 for Biafra and 3 for the South  Sudan movement), survey responses from 23 participants (19 for Biafra and 4 for South Sudan),  and critical review of archival documents and scholarly articles. Findings reveal that both  movements emerged from profound historical grievances, including colonial-era marginalization,  postindependence genocide narratives, and systematic socioeconomic exclusion. While South  Sudan achieved independence through a combination of unified leadership under John Garang,  sustained armed resistance, and decisive international support (particularly from the US and  regional allies), Biafra's struggle was hampered by fragmented leadership, geopolitical isolation, and Nigeria's military superiority backed by Cold War powers. The study highlights three critical  success factors in self-determination movements: (1) cohesive internal organization, (2) strategic  international alliances, and (3) effective framing of grievances. Analysis further reveals how differential access to diplomatic recognition and arms supplies shaped outcomes, with South Sudan benefiting from post-9/11 geopolitical shifts absent in Biafra's 1960s context, which was exacerbated by post-Cold war politics.

  • On Revolutions and Crises in Economic Science
    Vol. 8 No. 1 (2025)

    The paper studies the applicability of Thomas Kuhn’s theory of scientific revolutions to  economics. We analyse three key “revolutions”: marginalist, Keynesian, and Lucasian (rational  expectations), identifying their stages and characteristics. We focus on the asymmetry between  crises (external and internal) and theoretical responses to them, as well as the complex interactions  between economic theory, policy, and ideology. The presented analysis suggests that Kuhn’s  model is useful for describing periods of turbulence in economics, albeit with significant caveats.

  • Climate Risk and Bank Liquidity Creation in MENA Region: A Dual Threshold–Quantile Approach
    Vol. 7 No. 1 (2025)

    This study investigates the relationship between climate risk and bank liquidity creation (LC) in MENA using a dual threshold–quantile method, complimented by a quantile-on-quantile  approach. Using data from 126 banks in 19 MENA countries over the period 2006–2022, we find  that climate risk has a positive effect on LC only above a certain threshold. Furthermore, this effect  shows heterogeneity, varying across different levels of both climate risk and LC. Our findings  contribute to the literature by providing empirical evidence on the complex interplay between  climate risk and banking liquidity under varying economic conditions.

  • Short-Term Shocks, Long-Term Shifts: Nonviolent Political Movements and Economic Activity
    Vol. 6 No. 1 (2025)

    This article aims to shed light on the economic consequences of the nonviolent campaigns (NVCs) across the  world. The current era is shaped with various political transformations that are often driven by political movements  that engage in NVCs. Some of them are successful and result in regime change while others fail and are unable to  reach their goals. At the same time, there is contention among researchers as to what are the outcomes of NVCs.  Economic outcomes of NVCs are understudied: some authors state that democratization (which can be a result  of a NVCs) can lead to positive economic outcomes, while others believe that NVCs are detrimental to various  economic parameters. These critical gaps are addressed in this work by focusing on the establishment of the causal  effect of NVCs on economic growth and analyzing its variation depending on campaign’s type– successful, failed  or leading to democratization. Our dataset, that enhanced NAVCO 1.3 by addition of previously overlooked cases,  encompasses time period from 1950 until 2022. The results show that at average NVCs have a weak, but significant  short-term and medium-term negative effect on national income. At the same time, democratizing NVCs do not  lead to negative economic outcomes in medium-term albeit there is a negative and insignificant short-term shock. In  other words, campaigns that initiate a democratic transition effectively neutralize the long-term negative economic  consequences of instability and shock caused by NVCs.

  • Impact of Technological and Structural Changes on Total Factor Productivity in the Russian Grain Industry
    Vol. 5 No. 1 (2025)

    Grain production – basic branch of the Russian agro-industrial complex, - is one of the few sectors of the Russian economy that have demonstrated sustainable development over the past two decades. What were the main sources of growth in total factor productivity in Russian grain production? On the microdata of agricultural organizations in Russia with help of the data envelopment analysis (DEA) method, the article shows the changes in overall grain productivity that occurred along with the formation of market institutions due to a trade liberalization, land privatization and technical re-equipment, and has resulted in the boost of sector productivity. The fastest growth in total factor productivity occurred between 2002 and 2007 and slowed by 2016. Changes in factor use in the grain subcomplex contributed the most to total factor productivity growth across all periods. At the same time, the technological efficiency of the leading grain farms grew, that is such farms demonstrated a more efficient distribution of available resources. The high increase in total factor productivity in the grain industry in the period from 1995 to 2002 allowed the Russian Federation to enter the world grain market, becoming a key player.

  • Being Innovative or Being on the Safe Side – Managing the Risk of Failure
    Vol. 4 No. 1 (2025)

    Innovation has long been at the center of debates in economics, management, and organizational studies. However, innovation is never free of uncertainty and risk. Every act of innovation implies a departure from established paths and a willingness to embrace the unknown. From the beginning it's never clear if there is an audience which appreciates the innovation. This inherent exposure to uncertainty gives rise to the central dilemma of this collection: whether to be innovative or to play it safe, and how to manage the inevitable risk of failure. The ways in which organizations and societies face this dilemma are profoundly shaped by culture. Cultural values and institutional norms determine how risk is perceived, how uncertainty is tolerated, and how failure is interpreted. Failure, in particular, is at the heart of this discussion. It can be understood as both a barrier and an opportunity.

    Beyond cultural meanings and institutional incentives, risk itself emerges as a multifaceted phenomenon. It involves measurable probabilities and uncertainties, as well as narratives of trust, legitimacy, and responsibility. This interplay between ambition and prudence highlights the importance of striking a balance. Innovation cannot advance if all risks are avoided, but reckless exposure to uncertainty can threaten the very foundations of organizational and social stability. This collection seeks to explore these dilemmas by bringing together diverse and complementary perspectives. The volumedemonstrates, how organizational cultures shape behavior in the face of uncertainty, and how societies seek to balance ambition and responsibility. Altogether, the Work underscores the journey from culture to balance: beginning with the cultural foundations of risk-taking, moving through the mechanisms that reward experimentation, addressing the strategic problem of defining acceptable levels of risk, and culminating in the societal task of punishing innovation with safety.

  • Ordinal fair division under quotas
    Vol. 3 No. 1 (2025)

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