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The paper considers the specifics of the spatial and functional localization of regional education subsystems in the Russian Federation. Such subsystems include pre-school education, school education, secondary vocational education, and higher education. A set of indicators is suggested that can be used to assess the development stage of these subsystems. Cluster analysis made it possible to group the country’s regions according to the parameters of the education system, and determine the major characteristics of these groups (virtual clusters). Development tendencies of the education subsystems in the regions of each virtual cluster from 2010 to 2016 were analysed to identify the strong and the weak points of each group.

Using the example of the COVID-19 global crisis (2020), we prove the low effectiveness of the existing approach to managing the financial risks of investments based on commercial investments. For this, we performed an applied quantitative study based on the statistics from the World Bank for 2020 and the Forbes Global 2000 ranking in 2021, using as an example 17 developing countries with lower-middle and upper-middle incomes from different regions of the world. As an alternative, we suggest a new approach for managing the financial risks of investments, which is based on corporate social responsibility. It implies the placement of long-term, large-scale investments in social and ecological innovations based on the mechanism of public-private partnership. We substantiated the high effectiveness and advantages of the new approach. The new approach to financial risk management amid a crisis was more effective (in comparison with the existing approach) for businesses (ensures higher return on investments, allows avoiding losses), the government (contributes more to economic growth, the probability of which achievement is higher), and for society (supports SDGs to a larger extent and contributes to sustainable development). This paper contributes to the development of the Theory of Investments (Neo-Keynesianism) and fills a gap in the literature, bridging the gap between the Theory of Investments and the Theory of Sustainable Development—outlining the perspectives of the simultaneous overcoming of economic crises and supporting sustainable development during the management of financial investment risks based on corporate social responsibility.

The key to understanding the dynamics of stock markets, particularly the mechanisms of their changes, is in the concept of the market regime. It is regarded as a regular transition from one state to another. Although the market agenda is never the same, its functioning regime allows us to reveal the logic of its development. The article employs the concept of financial turbulence to identify hidden market regimes. These are revealed through the ratio of the components, which describe single changes of correlated risks and volatility. The combinations of typical and atypical variates of correlational and magnitude components of financial turbulence allowed four hidden regimes to be revealed. These were arranged by the degree of financial turbulence, conceptually analyzed and assessed from the perspective of their duration. The empirical data demonstrated ETF day trading profits for S&P 500 sectors, covering the period of January 1998–August 2020, as well as day trade profits of the Russian blue chips within the period of October 2006–February 2021. The results show a significant difference in regard to the market performance and volatility, which depend on hidden regimes. Both sample data groups demonstrated similar contemporaneous and lagged effects, which allows the prediction of volatility jumps in the periods following atypical correlations.

The article overviews Voronezh State University's activity in 2015, analyzes the factors shaping the university's development and achievements. It also analyzes the university's traditions and the "Line of development" enabling to keep its leadership in the region.

The article reviews military education formation and development in a non-military university by the example of Voronezh State University. It analyzes the educational activity and specialist training quality provided by the Military Training Centre over a certain period. The authors also discuss the legal and regulatory framework applied in this field.

Purpose. The purpose of this paper is to present a methodology for monitoring the cooperation between the business community and the system of higher education on the regional level and spotting active participants of such cooperation. The received data are to be used for developing the support policy of the effective partnership models by state government and entrepreneurs associations. Methodology/approach. The monitoring was carried out with respect to the Voronezh region companies and universities in May-June 2015 (the data was collected for the year 2014). The research method involves surveying regional universities and building composite ratings of companies based on their involvement in higher education and considering the range of cooperation forms and their value. The research data analysis included pre-verification and allowed for measurement error. The final ranking used integral binary criteria. Findings. The research results provide statistics with regard to the abundance of specified forms of cooperation between universities and companies. It also points out groups of companies exercising significant influence over the region's system of education. The ranking of companies is used by the Voronezh region government and the Chamber of Commerce and Industry and was used as a basis for similar research in other regions as well as a prototype for a methodology of monitoring the cooperation between companies and institutions of secondary professional education. Originality/value. For the first time, an assessment of the scale of and factual abundance of specified forms of cooperation between the Russian business community and the system of higher education has been performed. The results obtained can be of interest to those researching functioning of the Triple Helix model (partnership between government, companies and education) in Russia as well as to authors of higher educational institution rankings.

Предмет. Будучи одним из важнейших источников финансирования государственного бюджета, алкогольная отрасль представляет особый интерес как объект для экономического анализа. Любое вмешательство в ее деятельность имеет вполне очевидные краткосрочные эффекты и, как правило, менее предсказуемые долгосрочные последствия, которые могут оказать пагубное воздействие на социально-экономическое развитие государства. Цели. Статистический анализ динамики, структуры и тенденций развития алкогольной отрасли РФ и выявление факторов, оказывающих влияние на деятельность организаций алкогольной отрасли в условиях кризиса. Метод. В процессе исследования использовались параметрические методы анализа данных и машинного обучения, метод описания, анализа и синтеза, метод изучения документов и результатов деятельности. Результаты. В исследуемом периоде в значительной степени усилился контроль государства над сферой производства, хранения, поставок алкогольной продукции, что в определенной степени соответствует глобальной политике количественного ограничения и повышения качества (культуры) потребления алкогольной продукции. Обнаружены признаки перехода от модели потребления «северного типа» к «центрально-европейской». Выявлены тенденции в динамике объемов промышленного производства и розничных продаж алкогольной продукции, особое внимание уделено оценке структурных сдвигов в период активной фазы антиалкогольной реформы. Изменения в акцизной политике государства привели к увеличению нагрузки на производителей и товаропроводящую инфраструктуру. Спад в производстве и потреблении наблюдался практически по всем укрупненным группам алкогольной продукции. Установлено, что реализуемая акцизная политика в разной степени влияет на объем производства и розничных продаж укрупненных групп алкогольной продукции. Наиболее чувствительна к изменению акцизов крепкая алкогольная продукция, наименее чувствительна – винодельческая, производство которой в период рецессии только набрало обороты. Очевидно существование рисков, порождаемых агрессивной акцизной политикой и политикой лимитирования цен, которые могут привести к дестабилизации рынка и отрасли, а также вытеснению капитала в теневой сектор.