Active development of information and process technologies, as well as the tightening of competition in the market, demand research in the field of economic and organizational decisions that arise in the process and logistics of the organization of work of the regional distribution centers in the functionality of the distribution system. The article presents an integrated management system logistics processes of regional logistics distribution center (complex), which is an integrated system that combines process and information technology with the functioning of the information-analytical accounting system of the enterprise, constructed using the method of virtualizing information infrastructure

Keywords: Logistics of distribution, the distribution system, regional logistics distribution centers, logistics provider, virtualization information and logistics infrastructure

In this article topical issues of the taxation of migrants in the Russian Federation are considered, the analysis of a problem of the taxation of migrants is made, the assessment is given to the concrete steps taken by the government for improvement of the taxation of migrants, topical issues of tax control are considered, offers on its improvement are formulated. In article questions of interaction of Federal Tax Service of Russia with Federal Migration Service are analyzed, and also features of use of patent system of the taxation of foreign workers are reflected.

Keywords: taxation of migrants, tax agent, Federal Migration Service, patent system of the taxation, migrant, employer, tax control

The article emphasizes that every year the number of disasters and accidents is not reduced. Accidents and disasters killed a significant number of people. In order to reduce the deaths of many people and arrival in the emergency zone emergency rescue units as quickly as possible it is necessary to calculate the maximum possible path entrance to the emergency area. This should be done not only just the calculation of distances, but also to be taken into account dynamically changing environment in the emergency area. In accordance with this article proposed a modified method Hakimi, which will allow to solve this problem quickly and at lower cost.

Keywords: Emergency road entrance, the method Hakimi, reallocation of resources, unmanned aerial vehicles, vertex count, edge count, rescue, analysis of accidents, correction of topographic maps, vertex of the graph, many ways

Credit availability to construction sector entities determines for thin-capitalized construction firms the possibility of survival during the crisis and of efficient growth during the economic recovery. The main lenders for construction sector entities are commercial creditors (suppliers) and banks. Although their credit policies are similar, debt to commercial creditors dominate in the balance sheets of borrowers, because of customary business practices in construction industry and regulatory distinctions.

Keywords: information asymmetry, agency theory, trade credit

This paper presents key capital structure determinants of construction companies and their impact on fund raising and financing mix formation in accordance with the conditions of construction activity. It was found that profitability and tangibility have a positive effect on leverage, risk - the negative and the effect of company size, assets growth rate and taxes is ambiguous.

Keywords: capital structure determinants, profitability, risk, taxes, tangibility, construction companies

Construction lending risks define a special operations procedure for lender. The most important measure to construction lending risk minimization are the covenants (information and financial). The information covenants are used for minimization the hidden information (pre-contractual opportunism), and financial covenants (positive and negative) – for minimization the hidden action (post-contractual opportunism). Institutionalization of covenants as a relevant control and supervision procedure allow to reduce information asymmetry and make the construction lending process less risky and more predictable for concerned parties (agent and principal).

Keywords: real estate financing, default risk, construction loans, credit capacity, debt, financial covenant

Project financing provides an efficient allocation of risks between key counterparties of project initiatives, which are best suited and have the most appropriate instruments to cover this risks. The study of structural and operational principles of project financing risk management instruments: contractual arrangements and associated guarantees (turnkey (engineering, procurement, and construction) agreement, contractual structures of the operating period: offtake / procurement agreements, operation and maintenance agreement), contingency funds, cash trap, risk compensation devices, derivative contracts and insurance – allowed to reveal specifics of their application and assess their implication for mitigation the project financing risks and for success of the project financing initiatives.

Keywords: project finance, risk management, project financing risks, turnkey (engineering, procurement, and construction) agreement, put-or-pay contract, take-or-pay contract, operations and maintenance agreement, debt service coverage ratio, cash trap

Growth of innovation processes in China is the result of changing of the global economic paradigm. The industrial sector was gradually transformed from labor-intensive to capital-intensive and then to high-tech production. Development of the new China industrial structure requires improvement of hard and soft infrastructures. The economy reformation into opening-up strategy allowed involving knowledge of the whole world and transforming the comparative advantages in the industrial modernization process. Rapid capital accumulation, modernization of funds and industrial structure held at the expense of accelerated mobilization of the off-the-self technologies, implemented in developed countries. Growth limits of the China new industries effectiveness depends largely on the fact that it becomes difficult to borrow the mature technologies. Further economic growth of China is associated with upgrade and development of hard and soft infrastructures, construction of transport-logistics and energy projects, development of modern knowledge.

Keywords: hard infrastructure, soft infrastructure, opening-up strategy, industrial modernization, innovation development, comparative advantages, construction of traffic facilities

Contract organization of project finance allow to reduce the asymmetric information, limiting the possibility of opportunistic actions of each participant. The back-to-back principle, that is underlying for contractual arrangements, increases total project return and provides transfer and split of highest possible number of risks directly to the contractual counterparty, which is best suited and have the most appropriate instruments to cover this risks. Tripartite deeds of project financing can be considered as a cooperative non-zero sum game, which provides compensation in proportion to covered risk and member's contribution (extent of assumed obligations or provided funds). Multiple contracts of project finance initiatives allow to allocate risks pro rata the ability of participants, without reducing the amount of final win of all parties.

Keywords: project finance, project financing risks, asymmetric information, agency theory, contractual arrangements, back-to-back principle, concession agreement, purchaser contract, tripartite deed, game theory

Sustainable development is a priority for China, and the government intends to meet this challenge by encouragement of urbanization, energy efficiency increase, development of “green” industries, modernization and restructuring of the economy, environmental pollution reduction. Of particular importance are the “green” and brownfield development projects of urban development.

Keywords: sustainable development, soft and hard infrastructure, real-estate industry, housing financing, development projects, real estate financing, urban-development, brown field

The economic growth of China is inseparably linked with urbanization. The real estate market has expanded and became a major driver of economic growth. The central government reforms the system of land distribution with transformation of the socialist plan-centralized model to a market economy system. The development of China's real estate market occurs due to the improvement of institutional and operational factors. The real estate development in China is affected by foreign direct investment. Financing is one of the most important elements of a successful real estate development.

Keywords: urban growth, real estate market, real estate transfer, grant of the land-use right, real estate development, real estate businesses, state-owned land, real estate financing

  The article includes the theoretical aspects of the creditworthiness of construction organizations, a system of indicators to measure the creditworthiness of the construction sector (based on example of borrowers of the South-Western Bank of Sberbank of Russia), and the analysis of construction lending in Russia and in the Southern Federal District (based on materials of the South-Western Bank of Sberbank of Russia). The results of the analysis showed the overdue need to improve methods and procedures for evaluating the creditworthiness of borrowers in building, that`s why the author of the article has developed Model of Risk, which allows to overcome the problems of information asymmetry between banks and borrowers, and to lend institutions provide additional benefits in the credit rating and a selection of construction companies.

Keywords: creditworthiness, the assessment, the borrower of the construction sector, the bank

  This paper studies the approaches to categorizing real estate development risks, presents the detailed classification of project financing risks by the chronology of their occurrence in the economic life of the project, describes the effects of risks on realization of project initiatives, and presents the main strategies to minimize them.

Keywords: real estate development, project finance, risk classification, risk management, project financing risks, project initiative, project life cycle