METHODICAL APPROACHES TO ASSESSMENT OF THE IMPACT OF THE REPUTATION CAPITAL ON INVESTMENT PROCESSES IN THE REGION (ON THE EXAMPLE OF REGIONS OF THE VOLGA FEDERAL DISTRICT)

Purpose: In the paper, the need to study models of economic growth in territories in terms of the reputational economy theory is substantiated. The issue is relevant due to the fact that in modern conditions when economic development institutions are being transformed, primarily as a result of globalization of economic processes, the regional reputational capital begins to play an increasingly prominent and significant role. Methodology: The authors build the time series of the studied indicator for the regions of the Volga Federal District for the period of 2010-2017 based on the developed methodology for the formalized assessment of a territory’s reputation. Econometric assessments of a territory’s reputational capital influence on the parameters of their investment activity are carried out on the basis of those time series. The developed and tested methodological tools for quantitative assessment of the region's reputational capital form a stable basis for conducting research activities aimed at a multifactorial analysis of the key components determining the territory’s reputation. Result: This, in turn, forms stable preconditions for determining and system analysis of the development prospects of a competitive interregional environment and also forms the basis for the implementation of economic and mathematical assessments aimed at determining the impact of a territory's reputation on key parameters of its socio-economic development. Applications: This research can be used for universities, teachers, and students. Novelty/Originality: In this research, the model of Methodical approaches to the assessment of the impact of the reputation capital on investment processes in the region is presented in a comprehensive and complete manner.


INTRODUCTION
As a practice and empirical observations show, the reputational activity of economic agents forms a whole set of prospects for their development conditioned by stable positive or, on the contrary, negative expectations of counterparties interacting with them regarding the opportunities of their own development, both in conjunctural and institutional aspects. In this regard, reputation is very important and is becoming widespread in the scientific research field. Meanwhile, it should be noted that the study of the question posed in the space of scientific works and research mainly concentrates at the microlevel ( That is, the vast majority of works are devoted to the study of the reputation of firms as one of the most important "representatives" of economic agents. At the same time, the study of reputational capital and its influence on the development of regional/national economic systems is unfairly ignored. At the same time, it is necessary to state that in recent years the attention of scientists begins to be more and more concentrated on the problems set above (Manaman, Jamali, & AleAhmad, 2016; Ji, Li, North, & Liu, 2017; Dorčák, Markovič, & Pollák, 2017). However, the theory of the territories' reputational economy has not been developed as it is necessary and has not received due attention yet; this largely limits the research paradigm based on the study of intangible production factors in the system of socio-economic development of regions or national economic systems in general.
Formalized approaches to assessing the reputational capital of a region, its impact on the parameters of the socio-economic development of territories in the context of an actively transforming institutional and business environment are a multilevel complex task. Its solution will largely contribute not only to the development of comprehensive and generally accepted methodologies (tools) for diagnosing the reputation of economic systems at the meso-and macro-level, but also to update methods for modeling and forecasting them in terms of intangible factors of production, which importance in recent decades has become increasingly important in the system of macroeconomic transformations.

METHODS
The assessment of the region's reputational capital is based on 5 key sub-indices ( Figure 1).    ; (2) Where К ra -Reputational activity coefficient for the region according to the search query; T k --The tonality of the search engine; K p -The popularity of the query; Vi -The search engine share in RuNet.
The tonality of a search engine is understood as a system of assessments related to the analyzed subject of the region's reputational activity, which is determined based on an analysis of positive and negative assessments of the search query. With this, the value of the coefficient T k is determined according to formula 3 Where T + i -The number of positive assessments given for a search query in the analyzed search engine; T -i -The number of negative assessments given for a search query in the analyzed search engine; i -The number of search engines involved in the study.
The value in the denominator (10) is determined by the number of search engine responses to the query being analyzed and included in the analytical database. As it is previously mentioned, the inclusion in the analysis of the number of responses to a query in excess of 10 is not advisable due to the low probability of their click by users (less than 3-5%).

RESULTS AND DISCUSSION
Based on the above tools, the integral values of the reputation capital index for the Republic of Tatarstan for the period from 2010 to 2017 were obtained as a result of the estimates and calculations implemented (Table 2, Figure 2).  Guided by the principles and tools of the dummy variable's method, dummy variables were step by step added to the original model in order to increase the statistical significance of the resulting models.
As a result of these iterations, the regression model acquired the following form (1):

SUMMARY
In general, it should be noted that reputational capital plays a significant role in the process of socio-economic development of regions, as evidenced by the calculations obtained. Meanwhile, the significance of this factor is much differentiated, which can be clearly seen in the example of the presented calculations (table 6).
It is important to note that reputation has a more noticeable impact in regions with higher parameters of socio-economic development. This may be due to the effect expressed in the fact that the regions of this type have a high level of potential and opportunities for development. Taking into account the fact that, in accordance with our interpretation, the territory's reputational capital is a consequence of the set of opportunities it provides for the efficient development of business entities, the conclusion obtained quite fits into the boundaries of the logic outlined. At the same time, possessing special means and methods capable of increasing the level of the region's reputational activity in the information space, additional tools and opportunities open up to intensify socio-economic development. This effect will be reflected in the growth of business and economic activity.

CONCLUSION
Making the subtotal for the results obtained, which reveal a quantitative assessment for the generation of reputational capital in the regions (using the example of the Volga Federal District), it should be noted that the reputation building process consists of a number of components ("blocks"). Moreover, each of them has not only its own level but also a certain "weight" which largely determines the contribution of a component to the process of formation of the territory's reputational capital. It is also important to note that the differentiation revealed in the course of the study determines the reputational capital indices in the regions of the Volga Federal District, forms a kind of understanding of the processes and phenomena under study, but creates a stable basis for developing and adopting public policy measures aimed at creating an advantageous image and regions' reputations. This is important both from the point of view of social attractiveness and from the point of view of intensifying the process of economic development. The latter thesis is due to the fact that the reputation of any business entity (including a region, being adhered to the position that it acts as a quasi-corporation) determines the development potential of economic agents and their expectations regarding their future. This, in turn, forms the preconditions for the revitalization of business and economic activity in regions with a high level of reputational capital and, as the study showed, the activation of investment processes.