Green credit policy (GCP), as one of the key financial instruments to achieve ’carbon peaking’ and ‘carbon neutrality’ targets, provides capital support for the green development of enterprises. This paper explores the impact mechanism of GCP on the sustainability performance of heavily polluting enterprises (HPEs) from the perspectives of technological innovation level (TIL) and credit resource allocation (CRA), using panel data for Chinese A-share listed manufacturing companies from 2010 to 2015 to construct a propensity score matching and differences-in-differences (PSM-DID) model. We find that GCP has a causal effect on corporate sustainability performance (CSP). Although GCP significantly improves CSP, there is no long-term effect. Heterogeneity analysis shows that the relationship between GCP and CSP is only significant in non-state-owned enterprises and in eastern and low-market-concentration enterprises. Mechanism tests indicate that GCP stimulates HPEs to invest more in technological innovation and thereby improves CSP through the innovation compensation effect; the credit constraint and information transfer effects caused by GCP reduce the credit resources available to HPEs but have a significant forced effect on CSP. This paper enriches the study of the economic consequences of GCP and provides implications for stakeholders to improve the green financial system and achieve green transformation of HPEs.

In this research, we aimed to model the impact of world oil prices on the gross domestic product of the United Arab Emirates (UAE). The objective of the study was to determine the transmission mechanism of the influence of the changing oil price within the macroeconomic indicators of the UAE. In this study, we analysed the impact of world oil prices and the crude oil sector on economic growth in the UAE for the period of 2001–2020 by applying ADF, OLS, ARDL, and Granger causality techniques. The results also showed the direct impact of the changes in oil prices on the GDP of the UAE in the short and long terms; in other words, a decline in oil prices could pose a threat to the economic security of the UAE in the long term if appropriate corrective measures are not taken. In order to avoid these negative consequences of the oil price crisis, in this study, we emphasize that the only alternative to exporting oil is to diversify economic sources for long-term development and increase the efficiency of non-oil sectors.

This article discusses the features of using a multi-level simulation model of financial and economic forecasting when planning the activities of an enterprise operating in the railway industry, in particular in the segment of national and international freight transportation. The authors set a goal to show how, through the use of a multi-level simulation model of forecasting, it is possible to significantly increase the reliability of organizational and managerial decisions and ensure a more efficient allocation of resources and reduction of financial risks. The model constructed by the authors can be used to optimize costs, improve the quality of settlements with debtors and creditors, plan the cost and other indicators of financial and economic activity, the ability to build various forecast scenarios allows you to choose the most acceptable option for the company, taking into account the impact of key factors on the financial result and the level of financial risk.

Subject. This article discusses the theoretical aspects of the functioning of the financial mechanism of subordinate educational institutions of the Ministry of Culture of the Russian Federation. Objectives. Based on the concept of two-level modeling of economic systems, the article aims to formulate the content of the concept of Financial Mechanism of Subordinate Educational Institutions of the Ministry of Culture of the Russian Federation, substantiate the composition of its elements, and describe the algorithm of interaction between its constituent elements when financing the institutions. Methods. For the study, we used the author-developed concept of two-level modeling of economic systems. Results. The article finds that the financial mechanism of subordinate educational institutions of the Ministry of Culture of the Russian Federation should be built on the basis of the highlighted feature, namely the unidirectional movement of financial flows from the sources of revenue formation of the State-funded organization to their consumers. The article presents a schematic model of the financial mechanism where administrators and consumers of budget funds are indicated as constituent elements. Relevance. The presented financial mechanism will help budget administrators optimize the budget planning process and increase the effectiveness of control over the movement of financial resources and their targeted use, as well as help subordinate educational institutions of the Ministry of Culture of the Russian Federation create an optimal structure for managing budget funds and increase the efficiency of using budget resources.

Subject. This article analyzes the processes and phenomena associated with the justification of the need to develop and use a mechanism for improving accounting and reporting of subordinate educational institutions of the Ministry of Culture of the Russian Federation. Objectives. The article aims to show the need to develop a mechanism for improving accounting and reporting, using the case of subordinate educational institutions of the Ministry of Culture of Russia, and substantiate the advantages of its use to improve the quality of information support for users. Methods. For the study, we used the methods of analysis, synthesis, comparison, modeling, case study, etc. Statutory documents in the field of regulation of accounting and reporting in budgetary organizations, factual materials, as well as the opinions of experts and practitioners were used as a methodological basis. Results. The article defines the essence of the concept of Mechanism for Improving Accounting and Reporting and the algorithm for its development. It justifies the need to use this mechanism to more fully meet the information requests of users of accounting information and reduce the time and money spent on its compilation. Conclusions and Relevance. The current system of accounting and reporting of budgetary educational institutions does not provide adequate quality of information support to users of financial statements, causes a decrease in the effectiveness of management decisions, and unjustified time and money costs. The presented mechanism can be used to develop appropriate domains in the Electronic Budget system and adapted to the features related to the goals and organizational specifics of State-funded institutions, and thus, can contribute to improving the quality of information support for users and reducing time and money costs for these purposes.