Academic journal article European Research Studies

Instruments of Marketing and Credit Support of the Large Industrial Enterprises Development: International Experience

Academic journal article European Research Studies

Instruments of Marketing and Credit Support of the Large Industrial Enterprises Development: International Experience

Article excerpt

JEL Classification Codes: GOO, G20, G28, G38, LI, M3.

1. Introduction

Modern development of Russian economy is characterized by unstable and risk-related character, shaping process of institutional transformation in new historical, geopolitical, scientific and technological, national and cultural conditions. Under the conditions of financial globalization the level of the economic system development depends on the scale of the threat it is facing with. Each country tries to find its own balance: between the level of social development, financial sovereignty, identification instruments, risk assessment and management, methods of capital integration and national business development.

Global economy strengthens the differentiation of development levels of various countries, especially those which are developing according to the model of catch-up modernization, to which Russia belongs. The development model of Russian economy demonstrates weakness in marketing management and information and financial methods of control. This negatively affects the industrial policy vector.

In modern global economic system the tension between two divergent spheres of economic activity is growing: financial and nonfinancial, related with new industrial economy, neo-economics, based on knowledge, network communications and the newest technologies. The two formats of development of modern global economy in the conditions of turbulence are very dependent on each other, so the marketing management system should reduce the risk of this dependence and strengthen positive potential of the interaction.

2. Theoretical, Informational and Empirical, and Methodological Grounds of the Research

Theoretical and methodological basis of the research is the ideas of management theory, government regulation, "new economy" fundamental concepts, financial globalization, institutional analysis, project management of innovation and investment activity, represented in classic and modern researches of economists, based on the system and functional approach to the study of large companies development laws (Averina et al, 2016; Breckova, 2016; Budik and Schlossberger, 2015; Carstina et al.. 2015; Kormishkin et al., 2016; Epifanova et al., 2015).

The most important factor in creating a comfortable investment climate is the state of financial markets and the size of financial companies' assets (Ivanova and Bikeeva, 2016). A financial company in conditions of global economy acts as an integrated financial actor in the operation of which the financial components (financial resources, instruments and techniques) are involved not indirectly, but directly, representing a complex high liquid product as the result of this interaction. In the global economy the main marketing management instruments have mostly communication, information and network character, at the same time, as determined by Russian scientists, the sociality of economic interactions itself is not considered as the impact of external factors on the developing economic system, but defines "a set of new institutional and network interactions of economic agents" (Chekmarev, 2004; Savina, 2016; Novokreshchenova et al, 2016).

The scientists consider the global economy as the basis for the domination of actors based on influence through the application of capital and technology (Thalassinos et al, 2012; 2014; 2015; Keisidou et al, 2013). It is these instruments that allow the global economy actors establishing dominant influence on other participants. In his famous work the MSU professor Osipov Yu. M. determines that currently "global financial authority is being established over the entire economy" (Osipov, 2004). With the use of global technologies the transnational financial corporation's aim is to establish their own control over large and profitable companies, which are the operators of the local markets. The strategy of integration and "involving" of the most valuable resources, conducted by global market players, is oriented, according to professor Markov S. …

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