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Article

Финансовая устойчивость и стоимость активов Российских компаний: итоги 2008-2012 гг.

Финансы: теория и практика. 2013. № 6 (78). С. 59-70.
Федотова М. А., Тихомиров Д. В., Гусев К. А.

In modern conditions crisis phenomena are inevitable as a company develops and goes through different stages of the economic cycle. At present time in the modern theory there is no common approach to the interpretation of financial sustainability and methods to manage company’s stability and company’s value using general factors. The crisis of 2008-2009 and a potential slowdown in economic growth make these issues particularly relevant. The paper reviews research carried out by the authors in 2008-2012 and analyzes data on stability and value management for the mentioned period. The paper presents the analysis of trends over the period spanning 2008-2012 in terms of financial stability, value of assets and capitalization of companies. It suggests measures to control stability and value at different development stages of the company. The authors have analyzed the relationship between main coefficients of financial stability, economic added value and capitalization of Russian energy companies. The projected slowdown in economic growth may require carrying out further stability analysis, introducing changes in the value of assets and the intense use of management measures to maintain company’s financial sustainability and increase its value. Materials and analysis data may be of interest to valuators and professionals of financial departments.