Regional Economics: Theory and Practice
 

Abstracting and Indexing

РИНЦ
Referativny Zhurnal VINITI RAS
Worldcat
LCCN Permalink
Google Scholar

Online available

EBSCOhost
Eastview
Elibrary
Biblioclub

Archiving

Cyberleninka (12 month OA embargo)

Managing the working capital in the housing and utilities sector

Vol. 17, Iss. 1, JANUARY 2019

Received: 26 November 2018

Received in revised form: 3 December 2018

Accepted: 10 December 2018

Available online: 16 January 2019

Subject Heading: SOCIOECONOMIC POLICY

JEL Classification: G30

Pages: 50–71

https://doi.org/10.24891/re.17.1.50

Fedorov Ya.P. Financial University under Government of Russian Federation, Moscow, Russian Federation
yacov@list.ru

https://orcid.org/0000-0001-5780-0533

Subject The article investigates the financial and economic conditions and instruments to manage the working capital in the housing and utilities sector.
Objectives The study aims to unveil financial and economic conditions and tools of working capital management in the housing and utilities sector.
Methods I employ empirical and logical constructions, analysis and synthesis, generalization, systems approach, and the methods of comparative analysis.
Results The paper discloses reasons for receivables and payables formation in the housing and utilities sector, analyzes modern management of working capital of housing and utilities sector enterprises, taking into account the existing theoretical premises. It studies the current terms of settlements between resource supplying companies and their consumers, and settlements of resource supplying companies with their suppliers.
Conclusions The revealed lack of synchronization of settlement terms is one of reasons for increasing debt in the sector. The financial and economic analysis of 30 largest enterprises operating in the housing and utilities sector of the Moscow region demonstrated problems with working capital management. Arrears in payments on the part of consumers and the lack of synchronization of settlement terms result in increasing the debt of the sector enterprises to energy resource suppliers. The problem related to non-payments can be solved only through coordinated actions of all participants of the ‘consumer – district heating grid – electricity supply – generating company/electricity supply network’ production chain.

Keywords: housing and utilities complex, account receivable, account payable, debt burden, working capital

References:

  1. Garanina T.A., Petrova O.E. [Relationship between liquidity, cash conversion cycle and returns of Russian companies]. Korporativnye finansy = Journal of Corporate Finance Research, 2015, no. 1, pp. 5–21. URL: Link (In Russ.)
  2. Kaminskii S.I. [Methodological tools for assessing financial management of current assets trading enterprises]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2013, vol. 7, no. 7, pp. 298–300. (In Russ.)
  3. Lipchiu N.V., Yurchenko А.А. [Efficient use of working capital in organizations and its improvement]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2012, vol. 11, iss. 3, pp. 28–33. URL: Link (In Russ.)
  4. Polyanskaya N.M. [Analysis of current assets of the enterprise: Organizational and methodological framework and practical application]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 3, pp. 539–561. (In Russ.) URL: Link
  5. Savalei V.V., Samsonova I.A., Tatarenko E.Yu. [Assessing the availability of working capital in economic sectors of the Far East of Russia]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2018, vol. 17, iss. 6, pp. 1136–1149. (In Russ.) URL: Link
  6. Shcherbakova N.F. [Analyzing the use of current assets and their impact on the financial standing of commercial organizations]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2003, vol. 2, iss. 8, pp. 26–31. URL: Link (In Russ.)
  7. Brungil'd S.G. Upravlenie debitorskoi zadolzhennost'yu [Receivables management]. Moscow, AST, Astrel' Publ., 2007, 257 p.
  8. Kasacheva O.V., Udod V.A. [Overdue receivables of the organization: Quality analysis, ways of prevention and regulation]. Finansy i kredit = Finance and Credit, 2018, vol. 24, iss. 4, pp. 833–844. (In Russ.) URL: Link
  9. Ovchinnikova S.V. [Development of organizational and economic activities to manage receivables of a commercial enterprise]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2015, vol. 9, no. 12-4, pp. 723–727. (In Russ.)
  10. Dronova Yu.V., Vladimirova O.A. [Receivables in the thermal energy sector: Reasons for emergence and solutions to the problem]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, vol. 10, no. 2-1, pp. 274–280. (In Russ.)
  11. Valeev A.R. [The current status of the housing and utilities sector: Deficient funding or the lack of effective audit?]. EKO = ECO, 2013, vol. 43, no. 12, pp. 130–145. URL: Link (In Russ.)
  12. Galimova E.V., Rafikov R.I. [Theoretical bases of perfection of management of financial condition of enterprises in the housing sector]. Sovremennye nauchnye issledovaniya i razrabotki, 2017, no. 9, pp. 110–111. (In Russ.) URL: Link
  13. Evseeva S.A. [System of management in the municipal housing complex:The problem of non-coordinated interests of economic subjects]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2012, no. 4, pp. 299–303. URL: Link (In Russ.)
  14. Lisanova M.S. [Reserves of change in the financial condition of the housing and communal services enterprises]. Innovatsionnaya ekonomika: informatsiya, analitika, prognozy, 2015, no. 4-6, pp. 35–36. (In Russ.)
  15. Osipov A.Yu. [Modernization of the housing and communal services infrastructure in Russia]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2012, vol. 13, no. 16, pp. 76–80. URL: Link (In Russ.)
  16. Rakhmatullina R.R. [Problems of public utilities enterprise functioning in modern conditions]. Konkurentosposobnost' v global'nom mire: ekonomika, nauka, tekhnologii = Competitiveness in a Global World: Economics, Science, Technology, 2017, no. 6-5, pp. 80–83. URL: Link (In Russ.)
  17. Ryakhovskaya A.N., Ryakhovskii D.I. [Recession of financial stability in suppliers organizations: reasons and consequences]. Upravlenie ekonomicheskimi sistemami: elektronnyi nauchnyi zhurnal, 2014, no. 10. (In Russ.) URL: Link
  18. Sukharev A.N., Golubev A.A., Karaseva L.A. [On the financial standing and financial performance of the housing services and utilities property management companies in modern Russia]. Finansy i kredit = Finance and Credit, 2018, vol. 24, iss. 8, pp. 1799–1813. (In Russ.) URL: Link
  19. Sukharev A.N. [Financial and economic specific nature of the activities of resource-supplying organizations in modern Russia]. Finansy i kredit = Finance and Credit, 2018, vol. 24, iss. 9, pp. 2139–2150. (In Russ.) URL: Link

View all articles of issue

 

ISSN 2311-8733 (Online)
ISSN 2073-1477 (Print)

Journal current issue

Vol. 17, Iss. 2
February 2019

Archive