Abstract

The current state for Russian higher education in the regions is aggravated by tougher requirements to higher education and outflow of potential students from towns to bigger cities. One of the aspects for reducing the negative impact of the revealed problem is to increase financial stability through knowledge production and monitor the factors influencing the sustainable development of the university. This management mechanism is to determine the factors allowing the university to remain competitive in the conditions of uncertainty and volatility. The application of the Cobb-Douglas production function and mathematical statistics for modeling the current state of financial stability of the university is represented in the article. The dependency of the intellectual factor increase on the university's remote education and its smart environment is revealed. The function of the rate of knowledge production is determined. The suggested mathematical model is to be used for investment strategies simulations at smart university in order to make decisions on both educational and financial strategy of university development. The obtained results and the suggested models have been tested in the Institute of Economics and Management at Togliatti State University. The findings and results can be used for smart university's development because of the achieved possibility to assess financial stability and level of the university's adaptation to the external environment.

Authors

Sherstobitova, A.A.;  Iskoskov, M.O.;  Kaziev, V.M.;  Selivanova, M.A.;  Korneeva, E.N.

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