  Introducing a source for a bi-local composite operator motivated by the
perturbative expansion in gauge couplings, we calculate its effective potential
in the renormalization group of Standard Model with no involvement of
technicolor. The potential indicates the breaking of electroweak symmetry below
a scale M due to a nonzero vacuum expectation value of neutral component for
the SU(2)-doublet operator. At virtualities below a cut off \Lambda we
introduce the local higgs approximation for the effective fields of sources
coupled to the composite operators. The value of \Lambda\approx 600 GeV is
fixed by the measured masses of gauge vector bosons. The exploration of
equations for infrared fixed points of calculated Yukawa constants allows us to
evaluate the masses of heaviest fermion generation with a good accuracy, so
that m_t(m_t) = 165\pm 4 GeV, m_b(m_b) = 4.18\pm 0.38 GeV and m_\tau(m_\tau) =
1.78\pm 0.27 GeV. After a finite renormalization of effective fields for the
sources of composite operators, the parameters of effective Higgs field
potential are calculated at the scale of matching with the local theory
\Lambda. The fixed point for the Yukawa constant of t quark and the matching
condition for the null effective potential at M drive the M value to the GUT
scale. The equation for the infrared fixed point of quartic self-action allows
us to get estimates for two almost degenerate scalar particles with m_H= 306\pm
5 GeV, while third scalar coupled with the tau lepton is more heavy: m_{H_\tau}
= 552\pm 9 GeV. Some phenomenological implications of the offered approach
describing the effective scalar field, and a problem on three fermion
generations are discussed.
