Preview

Strategic decisions and risk management

Advanced search
No 2 (2014)
https://doi.org/10.17747/2078-8886-2014-2

НАУКА

52-62 3420
Abstract

The topics related to the financial stability assessment and market valuation of a business have received a detailed coverage in contemporary literature. However no approaches in meth-odology have been elaborated that would enable the quantitative assessment of the degree to which the financial stability indices and the market value of the company are linked together. Therefore, the econometric modelling of the dependence assessment between the cost factors and financial stability indicators poses a task relevant to present-day challenges.

The authors of the article present the proof that the company value is an integral indicator, which can replace the broad range of absolute and relative financial stability ratios in the assessment of the financial stability of a business.

Based on the econometric data analysis of the leading Russian and global energy companies that meet the profitability, financial stability and maturity criteria, the article proves the practical application of Modigliani—Miller theory as compared to D. Duran traditional theory of capital structure. The econometric regression correlations and the analysis of their statistical significance bring the con clusion of the ambiguity in the correlation between the Cost of Capital and Financial Leverage.

64-74 2186
Abstract

The purpose of the work is to assess the available opportunities and trends in the development of rehabilitation mechanisms of bankruptcy in Russia. There was conducted a study of the stages of development of the rehabilitation direction of the bankruptcy institution based on the analysis of the statistical results of bankruptcy procedures. The study concluded that there was no significant growth in the demand prospects of rehabilitation procedures under the existing approaches. The main reason is the lack of people interested in the rehabilitation of debtors in most cases of the procedures. The authors propose variants of the development of rehabilitation potential of bankruptcy institution based on actualization of debtor's right for filing of a bankruptcy petition and change of rehabilitation goals bankruptcy: instead of restoring the solvency of the debtor - the re-habilitation of its business during the anti-crisis restructuring.

76-82 1188
Abstract

The paper addresses a number of issues related to the functioning of the Russian sector of basic research and the need to implement a balanced public policy in this area. It contains an estimation of the managerial an organisational reform currently underway in the government academies of sciences and puts forward proposals for the establishment of mechanisms to overcome crisis phenomena in the Russian science sector, including basic research, which are impeding innovative development of the Russian economy.

84-91 996
Abstract

The crisis of the enterprises that develop science intensive defense articles is caused by the loss of the research-and-production potential of these enterprises during the reformation of the Russian economy. The state customer that applies economic-organizing approaches, which don’t correspond to the development, now complicates restoration of the research-and-production potential science intensive defense articles developers. State customer economic-organizing approaches to the development are applied using contract development management system on the formation of the price and volume of the state contract development funding. The contract development management system in price formation (and funding alike) of the development doesn’t correspond the development as an object of management. Such inconsistency is one of the main reasons of cur-rent crisis of the science intensive product developers. First of all, the crisis of the science intensive product developers shows in the drop of the quality and low profitability of the science intensive defense articles. The article proposes the antirecessionary economic-organizing approaches to the price formation of the defense articles development that correspond to the peculiarities of the development, provide the state support of the defense articles developers’ research-and-production potential recovery, provide the antirecessionary development management and should be used in contract development management system

92-101 2290
Abstract

The article covers the question of the complex crisis management system construction of the credit organization on the basis of the microeconomical and macroeconomical management tools range. It contains the data referring the place and role of the tools in the crisis management system and the complex model of the crisis management with the united statistical entity is built.



ISSN 2618-947X (Print)
ISSN 2618-9984 (Online)