Institutional tool of financial policy : contractual policy

Abstract

Under the market conditions, the most important role in economic subject belongs to the financial aspect – therefore, effective decisions at the micro-level are predetermined by financial policy, as realization of the strategy in the tactics of finances management is not possible if there’s none. Finances of economic subject are a component of the financial system of the Russian Federation. Together with the state financial policy, which is aimed at overcoming of consequences of the global financial crisis, there is financial policy of separate economic subjects and corporate structures. For the purpose of study of financial policy, the authors deem it expedient to clarify the definition of “policy”. According to M. Weber, policy is “striving for participation in authority or influencing the distribution of authority, be it between states or within a state between groups of people”.