The principle of holography of economic science and practice finds its expression in the study of chains and networks of direct and reverse connections in a multi-level national economic reproduction process. The article presents an original, unparalleled concept of the author’s study of these chains and networks of MUN as a prerequisite, along with other prerequisites, for system-strategic management and planning at all levels of economic reproduction, taking into account inter-level interactions within the framework of universal reproductive integrity.

Advertising flows as an economic institution shaping the spatial organization of markets in the digital economy. To develop a system for regulating advertising flows aimed at levelling the conditions for small and medium-sized enterprises (SMEs) to access advertising resources in order to ensure the unity of the economic space (UES) of Russia. An interdisciplinary approach is used, synthesizing theories of new economic geography, institutional economics, polarized development and the concept of «space of flows». The empirical part includes statistical analysis of Rosstat and AKAR data (2021–2025), comparative legal analysis of regional regulations, mapping, and a survey of SME representatives.
The hypothesis about the existence of a stable hierarchical structure of advertising markets in Russia («core – semi-periphery – periphery»), reproducing the general economic differentiation, is confirmed. It is established that the key determinants of disparities are not only economic but also institutional factors. Limited access of SMEs to advertising resources is a significant barrier to their interregional expansion, which fragments the economic space.
A targeted regulatory system has been developed, including measures to harmonize regulations, create a federal digital platform-aggregator of advertising resources, introduce financial support mechanisms for SMEs, and form a unified communication framework of the market. The implementation of the proposed measures can reorient advertising flows from the plane of differentiation to the plane of integration. The results of the study can be used by public authorities in the development and implementation of regional and industrial policies aimed at reducing spatial inequality and supporting SMEs.

In the modern digital era, consumer trust is shifting from large corporations to individual opinion leaders. This shift is driven by the growing demand for authentic and personalized content, which has become widespread across social media. Communication between businesses and target audiences through influencers forms a distinct socio-economic system, allowing scholars to speak not only about influencer marketing but also about the influencer economy – a broader concept that requires different approaches to the research object. In this study, the authors analyze the conceptual interpretations of «influencer marketing» and the «influencer economy», motivated by the insufficient examination of the latter term in Russian marketing and economic research.
Based on this analysis, the authors propose synthesized definitions and offer a perspective grounded in a systems approach, which enables a more detailed interpretation of the relationship between these concepts. The study emphasizes that the «influencer economy» is a broader notion that describes, primarily, a system reflecting the state of the economy. It includes «influencer marketing», typically understood as a process or tool. A key asset of the influencer economy is the creative qualities of opinion leaders, which enable them to create content.
The study also found that the concept of «influencer economy» is experiencing positive mentions in mass communication, particularly in Russian media. Therefore, it seems likely that interest in this concept will increase in the academic landscape. The conclusions drawn in this research contribute to advancing the introduction of the term «influencer economy» into Russian academic discourse.

In the current geopolitical and macroeconomic reality, in the context of sanctions pressure, instability of global supply chains, and strategic goals The development of modern mechanisms for managing multifactorial risks arising from external threats is becoming critically important for the diversification of high-value-added industries. These industries are becoming key drivers of the domestic real sector, ensuring technological sovereignty and sustainable development of the socio-economic system, serving as the foundation of Russia’s economic security.
The aim of the study is to systematize methodological approaches within an applied framework and propose optimization of specific risks in Russia’s non-resource industries. This article draws on materials published in open literature and online resources.

The article clarifies the essence of the term «deviant relations in the field of innovation activity»; reveals the features of positive and negative deviations, the causes, factors and patterns of their occurrence and development; defines the special role of chrematistics in the development of deviant relations as a leading factor distorting the priorities of innovation activity; clarifies the contradictions that are the trigger for the development of deviant relations, as well as clarifies the initial methodological principles, proposes a comprehensive approach to the formation of a mechanism for managing deviant relations arising in the process of innovation activity, including three key strategies (prevention, detection, correction) based on the principles of elimination.

This paper explores the transformation of competitiveness in Russia’s electrical engineering sector under sanctions, digitalization, and the integration of artificial intelligence. It argues that competitiveness is no longer a linear function of product quality but a function of managing uncertainty. New metrics, strategies, and case studies are presented, highlighting the paradoxical role of risk as a resource.

The article analyzes the main attributes of the assortment policy of retailers, taking into account its impact on financial stability in a modern market economy; marketing activities implemented within the framework of the company’s product policy. The strategic objectives of assortment policy are considered, which are largely determined by the elements that form the product offer, as well as the specific characteristics of the company’s  industry affiliation. 

The purpose of this study is to examine the key difficulties companies face when attempting to integrate marketing information generated across various internal and external systems. The research aims to clarify how differences in data formats, collection methods, update frequency and organizational practices influence the accuracy of market analysis, pricing decisions and overall management efficiency. Additional objectives include identifying the role of master data consistency, assessing how data quality affects user trust in analytical systems, and exploring technical and security-related barriers that complicate the unification of marketing information.
The study emphasizes that marketing data is inherently fragmented: different departments rely on separate digital platforms, while analytical indicators arrive in heterogeneous forms and at different time intervals. A detailed example from the titanium dioxide market demonstrates how building a single analytical model requires connecting several unrelated data groups – export quotations, logistics expenses, financial parameters and customs regulations. This case reveals the complexity of generating a correct import-parity price when data sources differ significantly in structure and reliability.
The findings indicate that integration of marketing information is associated not only with methodological and technological constraints but also with financial, organizational and strategic risks. Errors in classification, inconsistencies in master data, rigid security policies and lack of personnel expertise can distort market insights, reduce competitiveness and lead to misguided managerial decisions. The study concludes that successful integration requires a comprehensive approach combining data auditing, standardization, personnel training, enhanced security measures and modular architectural solutions. Ultimately, the ability to consolidate marketing information becomes a critical factor in increasing operational efficiency and ensuring the longterm resilience of companies operating in volatile and competitive markets.

This article comprehensively examines local advertising campaigns as a way to increase loyalty, trust, and the effectiveness of major sponsorship contracts, and analyzes the experience of the Kontinental Hockey League and its members – Russian hockey clubs.
This article has significant practical implications, as the problem of failing to increase consumer loyalty and trust through major sponsorship contracts is highly relevant. Such contracts are typically quite expensive. In a context of turbulence and declining marketing budgets, advertisers and their partners need to find ways to transform sponsorship agreements into a tool that not only achieves high reach but also enhances audience loyalty and trust in the product.

The objective of the study is to evaluate the performance of Russian and foreign oil companies based on a factor analysis of return on equity in the context of the financial, economic, price and sanctions shocks of 2007–2024. The relevance of the work is due to the systemically important role of the oil and gas sector in the Russian economy and the need to apply modern analytical tools to compare the results of Russian companies with foreign competitors and assess their resilience to crises.
The object of the study is the financial indicators of the selected vertically integrated oil and gas companies, the subject of the study is the methods of deterministic factor analysis that allow for a quantitative assessment of the contribution of individual financial ratios to changes in return on equity. The paper analyzes the ROE dynamics for the period 2007–2024, substantiates the choice of this indicator as a key performance indicator and considers the influence of the tax and interest burden, return on sales, asset turnover and financial leverage on the final result.
The methods of classification, decomposition, statistical, comparative and factor analysis were used; A five-factor decomposition was performed using the DuPont model and, using the LMDI-1 model, the impact of changes in each factor on ROE was calculated in the main crisis intervals of 2008–2009, 2013–2014, 2015–2016, 2019–2020 and 2023–2024.
It was concluded that the domestic company demonstrates a higher, but more volatile return on equity, while the foreign one is characterized by a more stable operating model. And also, the fact that the Russian company is more strongly influenced by changes in the external economic environment. Russia's tax system was also more unstable compared to China. In addition, if before 2016 the tax system took into account the interests of the development of the industry, then since 2019 it has been purely fiscal in nature, constraining the development of the industry.

Based on the analysis of indicators of development of the regional innovative economy, the problems of Russia’s innovative infrastructure are identified, the directions of increasing the efficiency of the innovative infrastructure are proposed. The concept of “innovative digital infrastructure” is specified. It has been shown that the development of digital platforms can be a driver of regional innovative growth and the basis for economic and technological national sovereignty.

Over the past ten years, the retail market has undergone a significant transformation. One of the transformative factors is the growing market power of marketplaces. Amazon and Alibaba currently shaping the vector of development of the global e-commerce market. The authors conducted a qualitative comparative analysis of the business models of Amazon and Alibaba and examined the dynamics of these companies’ return on equity (ROE). It was founded that ROE demonstrated high volatility, depending on the phases of the investment cycle and the return of invested funds. The authors conclude that Alibaba’s business model, being historically adapted to the conditions of the emerging Chinese market, demonstrates relatively more predictable margin dynamics, but in recent years has faced challenges limiting profitability. The Amazon model, which requires constant high investments, creates the potential for superprofits, but is associated with higher operational and financial risks, as evidenced by the greater amplitude of ROE fluctuations.

The article is devoted to the study of issues related to the development and effectiveness of innovations in industrial organizations by federal districts, and their contribution to the innovation-oriented growth of the Russian economy. The article shows the unevenness and high degree of differentiation in the innovation activity of industrial organizations in macroregions. As a result of a comparative analysis and evaluation of indicators characterizing the development and effectiveness of innovations, federal districts with leading and lagging positions have been identified; between the intensity of innovation spending (a resource indicator) and the effectiveness of innovation activities (a result indicator).
The trend of innovation development by federal districts is outlined: the focus of industrial production organizations is more on the development and implementation of product innovations than on process innovations. The need to further improve the mechanisms for the development of process innovations, which determine the intensity of the creation of new products and increase the efficiency of innovation activities, is noted.

Small and medium-sized businesses (SMEs) have traditionally been the backbone of the Russian economy, generating employment and innovation. However, 2025 presents entrepreneurs with unprecedented challenges related to tight monetary policy, changing consumer behavior, and economic restructuring.
The article analyzes key problems of SMEs based on the latest data from business associations and the media, examines adaptation practices and evaluates government support measures. The authors conclude that the current period is characterized not by a crisis of opportunities, but by a crisis of management models, requiring digital transformation, financial discipline, and customer centricity from businesses.

The article addresses the issue of changes in communication forms in the management processes of modern organizations. The purpose of the study is to analyze the new opportunities that electronic communications provide for organizations, as well as the challenges that employees face when using them. The article summarizes the applications of modern forms of business communication in the external and internal environments of organizations, identifies key issues related to the use of electronic forms of communication that affect management efficiency, and proposes an approach to addressing these issues.

The article examines the role of cultural and creative potential as a catalyst for the socio-economic development of small towns under conditions of depopulation and resource centralization. Based on the analysis of contemporary Russian practices, the producer approach is substantiated as an innovative methodology for territorial development management, enabling the transformation of cultural assets into economic and social outcomes. Institutional forms of implementing this approach (city producers, producer  clubs), along with their key functions and mechanisms of impact on the urban environment, are examined. In  conclusion, systemic challenges are identified, and recommendations for integrating producer models into  state policy for the development of small towns are proposed.

The article analyzes new approaches to the implementation of Russia’s state migration policy during its demographic reform, which is associated with population decline and aging, leading to an imbalance in the labor market, a slowdown in economic growth, and a threat to the country’s national security. The global demographic situation is such that today, about a quarter of the world’s population lives in countries where population growth has stopped. In recent years, birth rates have decreased in almost all regions of the world, including Russia. Russia faces the challenge of overcoming the demographic crisis, achieving sustainable demographic growth, and improving the quality of its human capital. Russia’s state migration policy, as a tool for demographic development, contributes to partially compensating for the c As a result, a set of measures for Russia’s state migration policy is proposed to address economic challenges and ensure that priority sectors of the Russian economy are staffed by foreign workers during the period of continued shortage of national labor resources, recognizing that natural population growth should remain the primary source of replenishing Russia’s population and providing it with labor resources. country’s population decline, maintaining its age structure, and meeting the labor market’s demand for workers.

The dairy sector of the agro-industrial complex of the Republic of Belarus is exportoriented and characterized by high capital intensity, dependence on herd management quality, chilled raw-milk logistics, and traceability requirements in international trade. The article substantiates a theoretical model for the implementation of cooperation and crowd-based financing tools in the Belarusian dairy sector in line with global economic trends, including the development of global value chains, digital platforms as infrastructure for reducing transaction costs, and diversification of financing sources for small and medium-sized enterprises (SMEs). The proposed model treats cooperation as an economic mechanism of joint ownership of infrastructure and data (quality control, veterinary services, logistics, and marketing), while crowdfunding is considered a mechanism of distributed project financing linked to measurable production indicators and supply contracts.
It is shown that the economic effect is achieved through reduction of losses and lower working-capital costs, increased productivity and improved quality management, expanded market access through compliance verification and traceability, and redistribution of risks among supply-chain participants. Particular attention is given to the constraints and conditions for implementation, including the institutional environment of cooperation, governance and trust, investor protection, cybersecurity risks, and compatibility with the existing regulatory framework.

This paper examines the specifics of managing a bank’s product portfolio in the context of digitalization . Key aspects such as big data analytics, process automation, digital sales channel development, ecosystem integration, rapid adaptation to change, enhanced cybersecurity, and regulatory compliance are explored. Particular attention is paid to the need for portfolio flexibility for successful operation in the context of digitalization.

This article explores the role of digital twins in the long-term development of energy companies and presents the author’s perspective on updating approaches to technological modernization under conditions of digital transformation. Particular attention is paid to the role of digital twins in structuring and managing production processes, as well as to their capacity to reshape traditional operational models. The study examines the key features, practical capabilities, and existing limitations of using dynamic digital representations of energy systems, including their potential impact on companies’ financial performance.
Research indicates that the adoption of digital twin technologies is influenced by several interconnected factors. Among them are the growing complexity of energy infrastructure, increasing expectations for reliability and continuous supply, and the push toward sustainability. Against this backdrop, an updated approach to technical management is emerging, where virtual models are gradually woven into decision-making, monitoring, and optimization processes. The theoretical analysis of organizational, economic, and environmental benefits positions digital twins as a promising tool for strengthening the competitiveness and sustainability of energy companies in a context of ongoing transformation.

The transition to a new technological paradigm is considered through a combination of large-scale digital transformation and the institutionalization of the development of artificial intelligence. The focus is not on individual technologies, but on the formation of a data economy in which control over the infrastructure for collecting, storing and processing information becomes the source of growth and power. It shows how national strategies and projects on AI and digital transformation consolidate a shift in priorities: from the modernization of industries to the construction of sovereign contours of data, computing power and national AI models.
Against this background, the mechanisms of global and technological inequality within the country are analyzed due to asymmetric access to digital infrastructure, competencies and markets, as well as the redistribution of resources in favor of actors controlling key platforms and algorithmic systems. Special attention is paid to the use of artificial intelligence as a tool of social control, from the introduction of algorithmic management in public administration to monitoring, profiling and selective access to services and information.
In the final perspective, artificial intelligence, being closely linked to the digital infrastructure, acts not as a set of applied solutions, but as a new configuration of power. The defining resource is the ability to create, accumulate, and interpret data. In practice, this is reflected in the redistribution of centers of influence, changing regulatory priorities and consolidating the advantages of those actors who control information flows and manage algorithmic systems.

The article provides a comparative analysis of data monetization models in the digital platform economy. The re levance of the study is due to the transformation of data into a key factor of production, coupled with the tightening of regulatory requirements for its use. The aim of the work is to identify the most sustainable and efficient data monetization models based on the author’s developed system of criteria, including profitability, scalability, regulatory risks, confidentiality, value distribution, and technological barriers. The research methodology is based on the principles of comparative analysis and case study of six different types of platforms (VK, Wildberries, Tinkoff, Yandex, Netflix, SimilarWeb).
As a result of the analysis, the commission-based (using Wildberries as an example) and “Data-as-a-Service” (DaaS, using SimilarWeb as an example) models took the leading positions in terms of the aggregate of criteria, demonstrating high resistance to regulatory changes and optimal value distribution within the ecosystem. The classic advertising model was recognized as the least sustainable under current conditions, being subject to high regulatory risks and declining user trust. The practical significance of the work lies in the developed system of criteria for evaluating and choosing data monetization models, as well as in the conclusions that can be used by digital platform managers to adapt business strategies.

Aim. To develop theoretical and methodological provisions and practical recommendations for forming an enterprise’s marketing strategy as the foundation for effective advertising management in the context of digital transformation.
Tasks. To analyze the evolution of approaches to advertising management in the context of marketing strategy implementation; to identify key elements of the advertising management system and their relationship with strategic marketing goals; to determine current trends and tools for integrating advertising communications into the overall enterprise strategy; to propose a methodological approach to assessing the effectiveness of marketing strategy implementation through advertising performance indicators.
Findings. The article substantiates that marketing strategy acts as a system-forming factor in advertising management, determining target guidelines, communication channels, budget constraints, and efficiency criteria. The evolution of advertising management from fragmented tactical decisions to a strategic integrated approach is examined. Features of the modern stage are identified: personalization of communications based on big data analysis, omnichannel, automation of advertising inventory purchases (programmatic), and the need to consider synergy, saturation, and carryover effects.
Results. A structural-functional model of advertising management integrated into the enterprise’s marketing strategy is proposed. Based on the analysis, factors for successful implementation of advertising strategies are identified: clear segmentation of the target audience considering sociocultural characteristics, use of data-driven approaches to budget planning, integration of online and offline communication channels, and application of automated systems for lead collection and analysis. The practical significance lies in the possibility of applying the proposed recommendations by enterprises in various industries to increase the efficiency of advertising investments.