Suchergebnisse

Twenty-five years have passed since the collapse of the Union of Soviet Socialist Republics (USSR), which led to the disruption of the regional check-and-balance system aimed at resolving national issues and political and socioeconomic contradictions. It also resulted in a number of armed conflicts, including those in the Chechen Republic, Nagorno-Karabakh, Transnistria, Tajikistan, Abkhazia, South Ossetia and later in the South-East of Ukraine. Immediately following the collapse of the USSR, key international actors paid special attention to the Commonwealth of Independent States (CIS) region while trying to secure own interests. This led to the further stratification of the CIS region. A "geopolitical pluralism" started to form there, marked by the fragmentation of nation-state sovereignty over the territory. The concept and policy of "geopolitical pluralism" as developed by Zbigniew Brzezinski meets the interests of the United States by making the CIS region more manageable, while at the same time making it more difficult for Russia to implement its own strategic tasks there. The key goal of Russia is the creation of an integrated economic and political union able to take a rightful place in the world. Only the development of deep and comprehensive integration with the CIS states can ensure the competitiveness of Russia's position in the world as well as the positions of its partners in the former Soviet space. The purpose of this article is to assess the level of geopolitical pluralism in the CIS space taking account of the membership of the CIS countries in international organizations and their voting on UN General Assembly resolutions. The study is based on the interconnection of quantitative and qualitative methods of analysis of international relations and world politics. During the past quarter century following the collapse of the Soviet Union, a regional system of international relations has formed in its place. Despite the fact that the CIS is a kind of linking element which unites most of the former Soviet republics, a certain competition between the new states has become the characteristic feature of the political relations in the region. The policy of the west (primarily the United States) became a kind of a branched, diversified strategy aimed at the phased development, transformation and fragmentation of the region. The diversity of foreign policy priorities among the CIS states and the presence of many actors in the region makes mutual understanding and good-neighbourliness between these countries difficult to achieve. To the contrary, this diversity seriously complicates and slows down the development of deep and comprehensive integration, making it more unstable and ineffective. © HSE, 1993-2018.

In contrast to hierarchical leadership within intra-organizational contexts, leaders of inter-organizational networks have to lead across organizational boundaries without hierarchical fiat or directive authority. The central research question of Susanne Ruckdaschel is how leadership behavior of network managers can influence network performance. Hereby, relational leadership in the form of empowering leadership is regarded as decisive criterion. Her study focuses on the interplay between network leaders and network companies. The perspectives of both the network managers and the network membe

Measures of corporate credit risk incorporate compensation for unpredictable future changes in the credit environment and compensation for expected default losses. Since the launch of purchases of government securities and corporate securities by the European Central Bank, it has been discussed whether the observed reduction in corporate credit risk was due to the decrease in risk aversion favored by the monetary easing or by expectations of lower losses due to corporate defaults. This work introduces a new methodology to break down the factors that drive corporate credit risk, namely the premium linked to cyclical and monetary conditions and that linked to the restructuring of the companies. Untangling these two components makes it possible to quantify the drivers of excess returns in the corporate bond market.

Measures of corporate credit risk incorporate compensation for unpredictable future changes in the credit environment and compensation for expected default losses. Since the launch of purchases of government securities and corporate securities by the European Central Bank, it has been discussed whether the observed reduction in corporate credit risk was due to the decrease in risk aversion favored by the monetary easing or by expectations of lower losses due to corporate defaults. This work introduces a new methodology to break down the factors that drive corporate credit risk, namely the premium linked to cyclical and monetary conditions and that linked to the restructuring of the companies. Untangling these two components makes it possible to quantify the drivers of excess returns in the corporate bond market.