Finance and Credit

On the financial standing and financial performance of the housing services and utilities property management companies in modern Russia

Vol. 24, Iss. 8, AUGUST 2018

Received: 27 June 2018

Received in revised form: 11 July 2018

Accepted: 25 July 2018

Available online: 29 August 2018


JEL Classification: G30

Pages: 1799–1813

Sukharev A.N. Tver State University, Tver, Russian Federation

Golubev A.A. Tver State University, Tver, Russian Federation

Karaseva L.A. Tver State University, Tver, Russian Federation

Subject This paper deals with the financial and economic situation of managing companies in the housing and public utilities sphere considering the evidence from Yaroslavl, Tver and Krasnoyarsk cities.
Objectives The paper aims to reveal the financial condition and position of the housing sector managing companies.
Methods The study involves statistical grouping and analysis of quantitative data on the financial and economic activities of the housing sector managing companies in Yaroslavl, Tver and Krasnoyarsk.
Results The paper presents the results of the study of financial and economic status of eighty one medium and large managing companies of Yaroslavl, Tver and Krasnoyarsk, that are serving from 71 to 81 percent of apartment buildings in these cities.
Conclusions The sample analysis shows unsatisfactory financial condition and financial position of the apartment buildings management branch. More than half of the management companies have losses and/or negative value of their own funds. This leads to an alternative source of financing, namely accounts payable due to delays in payments to resource providers.

Keywords: managing company, housing and communal services, financial condition, financial position, authorized capital, own funds


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