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2014 | 7 | nr 1 | 39--47
Tytuł artykułu

Problems of the Analysis of Strategic Financial Value-Based Benchmarks of the Ukrainian Enterprises

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Article is devoted to problems of the organization of effective monitoring of financial indicators as a part of strategic financial value-based management by the enterprise. The main goals of offered research are to describe some analytical approaches and to modify them for effective valuation of the emerging markets enterprises (in particular, to valuate the strategic financial benchmarks of the unprofitable Ukrainian oil refineries which are absent on stock market). Finally, the author offers discriminant model which includes the main financial benchmarks of strategic corporate development (cash value added as an indicator of operating activity; total shareholders' return as a basic indicator of current quality of corporate governance; Z-score as an indicator of corporate default probability). (original abstract)
Rocznik
Tom
7
Numer
Strony
39--47
Opis fizyczny
Twórcy
  • State Higher Educational Institution Kiev, Ukraine
Bibliografia
  • Knight, J. (1998), Value-Based Management: Developing a Systematic Approach to Creating Shareholder Value, McGraw-Hill, N.Y., USA, 307 p.
  • Murrin, R., Jarell, S. (2001), Driving Shareholder Value: Value-Building Techniques for Creating Shareholder Wealth, McGraw-Hill, N.Y., USA, 399 p.
  • Friedl, G., Kettenring, T. (2009), A Note on the War of Metrics, Control TUM Business School, Munich, Germany, available at: http://www.controlling.wi.tum.de/fileadmin/w00bel/layout/downloads/vorlesungsunterlagen/SS10/VBM/Note_on_War_of_metrics.pdf (Accessed 15 September 2013).
  • Volkov, L. (2005), Pokazateli rezultatov deyatelnosti: ispolzovanie v upravlenii stoimostyu kompanii [Economic results: using in corporate value management], Vol. 3, No 2, Moscow, Russian Federation: pp. 3-42, available at: http://www.rjm.ru/archive/list/t_3_2_2005_g/novye_issledovaniya/d_l_volkov_pokazateli_rezultatov_deyatelnosti_ispolzovanie_v_upravlenii_stoimostyu_kompanii/(Accessed 15 September 2013).
  • Weissenrieder, F. (1997), Value Based Management: Economic Value Added or Cash Value Added? Gothenburg Studies in Financial Economics: Study No. 1997:3, Gothenburg University, Gothenburg, Sweden, available at: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=156288 (Accessed 15 September 2013).
  • Stern, J.; Stewart, G.B. & Chew, D. (1995), The EVATM Financial Management System, Journal of Applied Corporate Finance, Vol. 8, No. 2, Rochester, UK, pp. 32-46, available at: http://ssrn.com/abstract=6704 (Accessed 15 September 2013).
  • Zavorotniy, R. (2012), Finansovaya otsenka biznesa: teoriya, praktika ta innovatsiyni pidhody: Monografiya [Financial valuation: theory, practices and innovative approaches: Monograph], KNEU, Kiev, Ukraine, 295 p.
  • Scott, M. (2000), Faktory stoimosti: Rukovodstvo dlya menedzherov po viyavleniyu richagov sozdaniya stoimosti [Factors of value: Managers' guide about identification of factors of value], JSC Olymp-Business, Moscow, Russian Federation, 432 p.
  • Bier, S. (2009), Mozg firmy [Firm brain], Libricom, Moscow, Russian Federation: 416p. The official site of FSTS Stock Exchange (2013), Trading Index, available at: http://pfts.com/uk/shares-indexes/ (Accessed 15 September 2013).
  • The official site of Deutsche Boerse Stock Exchange(2013), Market Data + Services, available at: http://deutsche-boerse.com/mda/dispatch/en/kir/qdb_navigashion/mda/ (Accessed 15 September 2013).
  • The official site of FSTS Stock Exchange (2013), Trading results, available at: http://pfts.com/uk/trade-results/ (Accessed 15 September 2013).
  • Damodaran, A. (2005), Investitsionnaya otsenka [Investment valuation], 2nd ed. Alpina Business Books, Moscow, Russian Federation, 1341 p.
  • Copeland, T., Koller and Murrin, J. (2005), Stoimost kompaniy: otsenka i upravlenie [Valuation: measuring and management], 3rd ed., JSC Olymp-Business, Moscow, Russian Federation, 576 p.
Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171297345

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