Objective and imperative meaning of financial policy at micro level
Economic Annals-ХХI: Volume 193, Issue (9-10), Pages: 121-127
Citation information:
Bokareva, E., Silaeva, A., Sanginova, L., Boboshko, V., & Boboshko, N. (2021). Objective and imperative meaning of financial policy at micro level. Economic Annals-XXI, 193(9-10), 121-127. doi: https://doi.org/10.21003/ea.V193-15
Elena Bokareva
PhD (Economics),
Associate Professor,
High School of Business, Management and Law,
Russian State University of Tourism and Service
99 Glavnaya Str., Cherkizovo, Moscow Region, 141221, Russian Federation
id311@yandex.ru
ORCID ID: https://orcid.org/0000-0002-5201-2631
Anna Silaeva
PhD (Economics),
Associate Professor,
High School of Business, Management and Law,
Russian State University of Tourism and Service
99 Glavnaya Str., Cherkizovo, Moscow Region, 141221, Russian Federation
Silaeva-aa@bk.ru
ORCID ID: https://orcid.org/0000-0003-4334-6581
Lola Sanginova
PhD (Economics),
Associate Professor,
Department of Public Finance,
Financial University under the RF Government
99 Glavnaya Str., Cherkizovo, Moscow Region, 141221, Russian Federation
sanginovald@mail.ru
ORCID ID: https://orcid.org/0000-0002-9579-3490
Vladimir Boboshko
D.Sc. (Economics),
Professor of the Department of Economics and Accounting,
Moscow University of the RF Ministry of Internal Affairs
4 Okruzhnoy Proyezd, Moscow, 107061, Russian Federation
v.boboshko@mail.ru
ORCID ID: https://orcid.org/0000-0002-4062-776X
Natalia Boboshko
D.Sc. (Economics),
Professor of the Department of Economic Security,
Finance and Economic Analysis,
Moscow University of the RF Ministry of Internal Affairs
4 Okruzhnoy Proyezd, Moscow, 107061, Russian Federation
natmb@list.ru
ORCID ID: https://orcid.org/0000-0001-6485-5268
Objective and imperative content of financial policy at micro level
Abstract. Nowadays, financial policy is a form of ideology and goal-setting implementation in the financial issues at any management levels (interstate formation, national economy, region, business entity, household), including the methods of financial resource mobilization, income, and expense structuring, legal regulations, assessing the impact of the controlled object on the economy. Financial policy is an enterprise goal-setting implementation concerning the micro-level (the level of business entities), including generating income and expenses, structuring, internal regulations, and assessments. The study aims to analyze the objective and imperative content of financial policy at the micro-level in the year 2020. With this purpose, we employ techniques and tools of economic and logical analysis, the methods of comparison, and groupings. We have made several proposals for policies to improve economic growth, including: avoidance of policies for economic cycles, especially in times of shock to macroeconomics, guide prices at the macroeconomic level, especially interest rates and exchange rates to support development goals, pursue trade and industrial policies to create increasingly profitable economic activities, Improve financial development and efficient and effective use of international relations.
Keywords: Financial Policy; State Treasury; Finance; Macroeconomics; Business
JEL Classifications: E02; E6
Acknowledgments and Funding: The authors received no direct funding for this research.
Contribution: The authors contributed equally to this work.
Data Availability Statement: The dataset is available from the authors upon request.
DOI: https://doi.org/10.21003/ea.V193-15
References
- Ahmad, N., Ullah, Z., Mahmood, A., Ariza-Montes, A., Vega-Muñoz, A., Han, H., & Scholz, M. (2021). Corporate social responsibility at the micro-level as a «new organizational value» for sustainability: are females more aligned towards it? International Journal of Environmental Research and Public Health, 18(4), 2165.
https://doi.org/10.3390/ijerph18042165 - Braunerhjelm, P. (2022). Rethinking stabilization policies; Including supply-side measures and entrepreneurial processes. Small Business Economics, 58, 963-983.
https://doi.org/10.1007/s11187-021-00520-6 - Cirera, X., Mason, A. D., de Nicola, F., Kuriakose, S., Mare, D. S., & Tran, T. T. (2021). The Innovation Imperative for Developing East Asia. World Bank East Asia and Pacific Regional Report. Washington, DC: World Bank.
http://hdl.handle.net/10986/35139 - Čučković, N., & Vučković, V. (2021). The effects of EU R&I funding on SME innovation and business performance in new EU member states: Firm-level evidence. Economic Annals, 228(66), 7-41.
https://doi.org/10.2298/EKA2128007C - de Oliveira, C. T., Dantas, Th. E. T., & Soares, S. R. (2020). Nano and Micro Level Circular Economy Indicators: Assisting decision-makers in circularity assessments. Sustainable Production and Consumption, 26, 455-468.
https://doi.org/10.1016/j.spc.2020.11.024 - Esposito, M. (2020). Sustainability as a Key Imperative in Project Cycle Management: Sociological Considerations. In M. Nocenzi, & A. Sannella (Eds.), Perspectives for a New Social Theory of Sustainability (pp. 69-77). Springer, Cham.
https://doi.org/10.1007/978-3-030-33173-3_6 - Jones, Sh. E., & Coates, N. (2020). A micro-level view on knowledge co-creation through university-industry collaboration in a multi-national corporation. Journal of Management Development, 39(5), 723-738.
https://doi.org/10.1108/JMD-08-2019-0365 - Krasnopevtseva, I. V. (2021). A Multi-Objective Model for Inventory Management of the Integrated Multi-Product Supply Chain Considering Central Warehouse and Potential Demand. Industrial Engineering & Management Systems, 20(2), 322-329.
https://doi.org/10.7232/iems.2021.20.2.322 - Memon, A., Akram, W., Abbas, G., Chandio, A. A., Adeel, S., & Yasmin, I. (2021). Financial Sustainability of Microfinance Institutions and Macroeconomic Factors: A Case of South Asia. South Asian Journal of Macroeconomics and Public Finance, 11(1), 116-142.
https://doi.org/10.1177%2F22779787211007970 - Su, Ch.-W., Song, Y., & Umar, M. (2021). Financial aspects of marine economic growth: From the perspective of coastal provinces and regions in China. Ocean & Coastal Management, 204, 105550.
https://doi.org/10.1016/j.ocecoaman.2021.105550 - Xu, M. (2022). Corporate Social Responsibility and Financial Management Reform Based on Stakeholder Theory. Accounting and Corporate Management, 4(1), 1-5.
https://doi.org/10.23977/acccm.2022.040101 - Xu, Y., Li, S., Zhou, X., Shahzad, U., & Zhao, X. (2022). How environmental regulations affect the development of green finance: Recent evidence from polluting firms in China. Renewable Energy, 189, 917-926.
https://doi.org/10.1016/j.renene.2022.03.020 - Vlados, Ch., & Chatzinikolaou, D. (2020). Macro, meso, and micro policies for strengthening entrepreneurship: Towards an integrated competitiveness policy. Journal of Business & Economic Policy, 7(1), 1-12.
https://ssrn.com/abstract=3563453
Received 16.06.2021
Received in revised form 9.08.2021
Accepted 20.08.2021
Available online 19.10.2021