Socially responsible investment of nonmetallic materials mining companies in Ekaterinburg municipal district

Социально ответственное инвестирование компаний по добыче нерудных материалов в муниципальном образовании «город Екатеринбург»

Malyavtsev, Denis (Малявцев, Денис) ()
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Malyavtsev, Denis (Малявцев, Денис): Russian Presidential Academy of National Economy and Public Administration, Ural Institute of Management

Munitsipalitet: ekonomika i upravlenie / Municipality: Economics and Management, 2023, 38-45

Abstract: The most important part of the modern economy is construction, which, in turn, cannot exist without materials called non-metallic. The industry of non-metallic building materials extraction is currently actively developing, which cannot but affect the social sphere, environmental situation and other aspects of life in the Russian society. Thus, the current state of the industry of non-metallic building materials, in particular, crushed stone, requires significant management decisions both at the level of the state and at the level of economic entities themselves. The system-functional method, which allows us to study the activity of participants of economic relations in the aspect of axiological approach, is used as a determining method of research. The synergetic approach is also used, which allows us to assess the regularities of economic systems development. The choice of this methodological approach is due to the fact that this method of scientific knowledge allows us to reveal the integrity and complex nature of socio-economic policy of economic entities. Figures of development of the non-metallic materials mining industry show a serious interest of the regional and national economies in it. Economic entities begin to solve not only production problems, but are also involved in solving social problems of the region and the country as a whole. At the same time, the study shows that the costs of socially responsible type of business activity are significantly higher than the costs of traditional type of business activity, and currently only large production associations can afford it. The development of the industry cannot but be reflected in the socio-economic picture. Market leaders have begun to introduce a socially responsible approach to economic management, which can and should serve as a basis for the formation of state policy based on a value-based approach. It is necessary to introduce a socially responsible approach of business entities, taking into account the accumulated experience of leading companies in the production of non-metallic construction materials. Given the dependence of production companies on supplies of foreign equipment and machinery, the profitability of such companies decreases, and the state needs to develop and introduce a comprehensive program to support socially responsible business, which, in turn, will help to solve serious social problems and prevent social conflicts. For this purpose, it is worth considering the possibility of providing socially responsible investors with various kinds of tax, financial and other benefits aimed at supporting business and minimizing the costs of mining and production of non-metallic construction materials.

Keywords: socially responsible investment; finance; non-metallic construction materials; state policy; investment; social partnership; mining industry development; support measures; tax benefits (search for similar items in EconPapers)
Date: 2023
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