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Проанализируем оба варианта. В 1 случае физическое лицо продает акции по курсу 8,81 за акцию. Его доход в этом случае будет равен: 8,81 к 10.000 шт. По сделка не превышающим 100.000 руб. комиссионное вознаграждение брокеру составляет 0,2 %. Услуги депозитария по изменению счета ДЕПО составляют 36 руб. Получаем трансакционные затраты по продаже акций : 88.100 руб. * 0, 002 + 36 руб.=212,2 руб. Прибыль по сделке будет равна: 87.887, руб. Теперь посчитаем затраты на хеджирование, при учете опционной премии, уплачиваемой при покупки опциона. На рынке FORTS комиссионное вознаграждение составляет 1% по разовым сделкам. Сумма сделки по покупке опциона-put равна 578 руб. Далее суммируем все статьи затрат на хеджирование: 578 руб. + 4020 руб. + 5,78 руб. = 4603,78 руб, что составляет 5,24 % от прибыли от продажи пакета акций. Подсчитанная сумма является ценой ошибочного прогноза хеджера в случае выбора первого варианта. Это иллюстрирует классическую ситуацию, характерную для сделок хеджирования, которая показывает что при выгодном изменении цены базового актива хеджер не воспользуется данной выгодой, ее «съедают» затраты на хеджирование.
Анализируя второй вариант, хеджер поставляет акции депозитарно-клиринговой компании, обслуживающей биржу 10.000 акций, соответствующих 10 фьючерсным контрактам. В результате этого хеджер получает за каждый фьючерсный контракт цену, сложившуюся по данному фьючерсу или на момент наступления срока истечения опциона: 8902 руб. * 10 = 89. 020 руб. Но в результате отрицательного сальдо = - 4.020руб., хеджер получает за свои акции 85.000 руб. Отметим, что он получает сумму, зафиксированную им как страйковая цена при покупке опциона - put. С учетом всех затрат на хеджирование хеджер получает за свои акции: 89.020 руб. - 4.603,78 руб. = 84. 416, 22 руб. Следовательно, это будет та сумма, которую хеджер получит, выбрав второй вариант.
Сравнивая два варианта, видно, что предпочтительнее выбрать второй вариант, так как цена за акцию в первом случае равна 8,33 руб., а во втором - 8.44 руб. Так же сумма потерь в результате ошибки в ценовом прогнозе будет 87.887 руб. - 84.416,22 руб.= 3.471 руб., что составит 3,95% от той прибыли, которую получило бы физическое лицо, не осуществляя хеджирование.
Хотелось бы отметить, что при использовании опционов возможности для творческих, нестандартных решений будут появляться с увеличением опыта работы с опционами. Стоит начинать с элементарных действий на опционном рынке, не обращая особого внимания на мифы о перегруженности опционных сделок математической эквилибристикой.
Список использованной литературы:
1. Галанов В. А. Рынок ценных бумаг: учебник/В. А. Галанов. -М.:ИНФРА-М.-2016-379 с.
2. Натенберг Ш. Опционы. Волатильность и оценка стоимости. Стратегии и методы опционной торговли. Издательства: Альпина Бизнес Букс, Альпина Паблишерз, 2017г., 313 с.
3. Халл Джон. К. Опционы, фьючерсы и другие производные финансовые инструменты Изд: Вильямс, 2017., 265 с.
© Пасканова К. С., 2018
УДК 331.57
E. V. Perunkova
First-year student, Saint Petersburg State University of Economics
Saint Petersburg, Russian Federation E-mail: [email protected]
WOMEN'S UNEMPLOYMENT IN RUSSIA: ANALYSIS AND METHODS OF REDUCING
Summary
The problem of women's unemployment is one of the most urgent for our country. Despite the high level of development of social relationships, many women in Russia face difficulties in the employment process. The
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purpose of the article is to analyze the problem and suggest ways to solve it. Basing on official statistics there are some methods of reducing women's unemployment at the level of state policy.
Key words:
Unemployment, female unemployment, protection of women, employment, labor market, discrimination
The problem of women's unemployment is one of the most actual in the world today. It affects not only Russia but all the countries of the world to varying degrees. The peculiarity of women's unemployment is that it is usually higher than men's unemployment and the overall unemployment rate.
Obviously, the level of competitiveness of women in the labor market is not equal to the men's level. It is caused by a number of reasons. This inequality has developed historically. Earlier that situation was a social norm, but in the modern world, in the opinion of many people, this phenomenon is unacceptable. Therefore, today we should not only understand the reasons of the high level of women's unemployment, but also raise the question of forms of support for women in the labor market. Unfortunately, the measures taken by the state to solve this problem are not as effective as desired. Sometimes the result of these measures is opposite to what is expected: trying to improve the protection of women in the labor market it reduces their real opportunities to get a job.
A little over 35 million women are employed in Russia in 2017. This is 48% of the total number of workers. About three quarters of women of working age are employed [1]. Women between the ages of 30 and 49 have the highest employment rates. In Russia the demographic situation from 1996 to 2005 was special. The number of employable women gradually increased. Despite this, 70% of all registered unemployed people are women. Therefore in Russia there is the expression "Unemployment has a female face".
Women have a number of physiological characteristics and a special position in society, so social work with women is an important part of social policy in Russia and abroad. The reason why women need more social support is their ability of procreation. This factor is the most decisive in employment of women. Childbirth makes to suspend the professional activities for a long time. It is unattractive to the employer. Russia is characterized by high involvement of women in social production which is caused by a number of difficulties: the high cost of housing, paid education and medicine, etc. Women have to actively seek work.
It is important to notice that the level of education of employed women is slightly higher than that men's level. There are about 53% are women among the working population with higher education and 58% among people with secondary special education. It explains the existence of a "women's sector" in social production. It includes medicine, education, culture and social services.
The development of market relations has reinforced the differences in the social status of men and women which previously existed in more latent form. Gender inequality has become more open with the emergence of a market economy.
The active involvement of women in the labor force also explains the high unemployment rate among them. Women's unemployment is estimated at 7-8 million.
There are many reasons why employers don't want to hire women. It is difficult for women in a particularly difficult situation (with young children, disabled children, single mothers) to retain their jobs. Table 1 shows the employment rate of women with preschool children [1]. It is also difficult for young women who have recently been educated find a job as they do not have work experience. They often have to go to a low-paid job without the possibility of career growth.
Table 1
The employment rate of women aged 20-49 with children of preschool age (according to the labor force sample survey; percentage)
2014 2015 2016
Women with preschool children (0-6 years), total 64,0 64,0 64,9
Including those with children aged:
0-2 years 47,7 47,1 47,2
3-6 years 78,5 77,6 77,8
It is impossible not to mention about the social consequences of women's unemployment. A woman as a wife and mother loses her authority in the family and becomes more dependent after losing her job. Occupying previously
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high social status in the labor collective or in society, making a significant share in the family budget, she has to deal with difficult economic, moral and psychological difficulties. If woman loses her job, she loses the opportunity to realize her human rights.
The women's focus on the family and the maintenance of the home can hardly be justified from the point of view of family economy and the value orientation of women and society. The household can be viewed as a form of self-employment, but it does not help to solve existing social, economic and spiritual problems.
In this regard, it is necessary to develop a mechanism of employment policy which excludes the possibility of gender discrimination. Women should be able to realize their personal potential and be economically independent. They should be able to provide for themselves and their families. The state needs to develop the approach to the problem that will effectively enhance women's competitiveness in the labor market. Such methods can be:
• Application of flexible forms of employment (flexible schedule, remote work);
• Developing ways to improve women's skills;
• Assistance in mastering those specialties that are the most demanded;
• Measures to improve the professional mobility of women.
In our time, it is very important for women to have a good self-assessment in the field of labor, to be psychologically ready for their job and feel its importance in the organization. Employers should to pay attention on the many distinctive advantages of the female workforce: a high level of responsibility, conscientious attitude to disciplinary rules, precision and accuracy in the work process. Список использованной литературы:
1. http://www.gks.ru/ Официальный сайт Федеральной службы государственной статистики.
2. Атоян И. И. К вопросу о женской безработице // Социологические исследования. - 2005. - № 4.
3. Голубева Л.Ф. Особенности женского труда и проблемы трудоустройства незанятого женского населения. Монография. Москва: Знание. 2005.
4. Горбунова О.Н., Гладышева А.В. Ключевые особенности формирования трудового ресурса в информационном обществе. Социально-экономические процессы и явления, № 9. Тамбов: Издательский дом ТГУ имени Г. Р. Державина, 2013.
5. Захаров М. Е. У безработицы женское лицо // Вопросы экономики.- 2005. - № 7. Reference list:
1. Atoyan I. I. on the issue of women's unemployment // Sociological research sequences. - 2005. - No. 4.
2. Golubeva L. F. Features of female labor and problems of employment of unemployed female population. Monograph. Moscow: Knowledge. 2005.
3. Gorbunova O. N., Gladyshev A. V. Key features of the formation of human resource in the information society. Socioeconomic processes and phenomena, № 9. Tambov: Publishing house of TSU named after G. R. Derzhavin, 2013.
4. http://www.gks.ru/ Official website of the Federal state service statistics.
5. Zakharov M. E. Unemployment female face // Voprosy ekonomiki. - 2005.- yeah. No. 7.
© Perunkova E. V., 2018
УДК 657.2
Н.В. Потехин
магистр 1 курса, студент ОГУ, г. Оренбург, РФ
stena-55@mail. ги
УЧЕТ И ОЦЕНКА ФИНАНСОВЫХ ВЛОЖЕНИЙ Аннотация
Финансовые вложения входят в состав финансовых активов. В статье дается понятие финансовых
