Особенности оценки стоимости сделок слияний и поглощений в банковском секторе
Today, intellectual capital is one of the important directions in financial management. The article displays the degree of importance of this resource, both at the state level and at company level. Theoretical and methodological aspects of intellectual capital concerning the wording of its definition and critical analysis of the strengths and weaknesses of models for assessing intellectual capital are presented in this paper. The basic characteristics of the intellectual capital and its distinctive features in comparison with monetary-material resources are allocated. It is concluded that implementation of these propositions in the aggregate, may contribute to the goal of creating new levers of company value.
This article is devoted to the decision-making mechanism of vertical integration at a company level. Different approaches to the analysis of vertical integration transactions, which exist for today, are revealed. The estimation of existing ways of the analysis is given, relationships between the various factors, which influence the general result of vertical integration transactions, are determined. In the article the recommendations for the Russian car industry are given on the basis of the review of the vertically integrated companies, which exist for today, the mathematical model is described, which explains the logic of the firm's decision of integration.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.