Leasing as a practical instrument for financial design in Russia

Abstract

© 2019, Dorma Journals. All rights reserved. The solution to the urgent problem of financing a business, at first glance, is to attract a bank loan. However, at present, the receipt of borrowed funds from banks by companies in Russia is limited by a number of reasonable reasons: the distrust of banks in businesses due to their nontransparency, instability of the proceeds, lack of collateral. As a result, all this leads to higher interest rates. In this light, the use of leasing acquires additional benefits, among its main advantages. The paper explores relevant scientific discussions regarding the use of leasing as an instrument for financing fixed assets modernization projects in Russia. The authors investigated the problem of assessing the effective implementation of the project for the modernization of fixed assets using leasing instruments. The classification of existing methods for assessing the effectiveness of leasing transactions is developed. The main advantages of leasing are determined. The factors affecting the efficiency of projects on modernization of fixed assets at an enterprise using leasing instruments are identified. A methodology for assessing a leasing transaction based on economic indicator of added value, and an author's scheme for the use of leasing in financial design are proposed. The purpose of the study is to identify key features of leasing as a financial instrument in Russia.