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Purpose The purpose of this study is the detection and comparison of distinctive features of Gazelle firms (GFs) at three stages evolution outside the typical boundaries.Design/methodology/approach The study uses Analysis of Variance and logistic regression to tests the performance of 2427 gazelles for (GFs) a five-year period (2015–2020).Findings The study found that GFs prediction probability is low. In their second and third stages of evolution (initial growth and continuing growth), the gazelle growth effects appear. They are more effective in terms of profitability and turnover due to increasing sales and size.Practical implications This study shows that stakeholders should give preference to GFs that demonstrate long-term (steady) growth. Such firms are more efficient and financially stable than firms with high short-term growth.Originality/value The present study identifies patterns in the generation and development of GFs in high-tech industries outside the typical boundaries.

The relevance of analysing the impact of various factors (including finance and tax mechanisms) on reproduction processes is due to the complex problem of reproducing the oil and gas resources. We focused on studying the tax incentives and the state's tax expenditures on the mineral extraction tax, and particularly, on oil extraction tax. We hypothesised that differentiated impact of the tax incentives would necessitate the improvement of the incentive mechanisms in the context of transforming paradigm of the hydrocarbon resource base's reproduction. The research methodology includes the analysis of the impact of the state's tax expenditures on investments in geological exploration, prospecting operations, and growth of oil resources. We conducted this analysis based on statistical data on five regions of the Russian Federation using Data Envelopment Analysis. The obtained results of the comparative analysis have allowed dividing the analysed Russian regions into three clusters. In this case, Tomsk Oblast and KhMAO-Yugra form a cluster characterised by the minimal positive effect of tax incentives on oil resources' reproduction. The research results have demonstrated the eficiency of the tax incentives in stimulating extraction that leads to the imbalances in the natural resources management. In the territorial aspect, the hydrocarbons resource base and oil-and-gas industry's sectoral structure cause that imbalance. In the technological aspect, the imbalance is due to the extraction's intensification that negatively affects the resources' reproduction. Based on the analysis, we suggest introducing a justified investment of a part of the released capital (as a result of tax incentives) belonging to users of natural resources into geological exploration in accordance with regional principles. The study's results can be used in the field of finance and tax legislation as well as in oil-and-gas industry management in the sphere of geologic exploration. © 2019 Institute of Economics, Ural Branch of the Russian Academy of Sciences. All rights reserved. ; Представлена современная парадигма воспроизводства ресурсной базы углеводородов. Рассмотрено льготирование в системе недропользования. Показано влияние налоговых механизмов стимулирования на производство ресурсной базы углеводородов. ; The article has been prepared with the support of Russian Foundation for Basic Research, the grant No 18-010-00660 A Conceptual approaches to the paradigm of sustainable and balanced natural resources management of the region, considering the specifics of

The relevance of the research is due to the technological lag and low efficiency of Russian companies, which makes the development of a methodology for simulation innovation strategies particularly important. The authors tested the tools of the dynamic efficiency of the DEA model for evaluating the potential of significant sectors of the Russian economy and for forming simulation innovation strategies in these sectors. The following results were obtained: DEA-efficiency indicators of companies were calculated based on a set of cost and profit financial and economic indicators; heterogeneities of companies' static and dynamic performance indicators were identified; time trends of dynamic performance indicators were evaluated; the sectors were compared based on a set of static and dynamic performance indicators.