Развитие стейкхолдерского подхода в методологии финансового анализа: гармоничная компания
This paper introduces the original author's concept of harmonized firm based on stakeholder approach. We show that creation of new capital structure based on the mix of financial and nonfinancial capital which we call capital architecture becomes one of the main characteristics of such a firm. We argue that capital architecture requires new value creation mindset based on stakeholder value added for strategic nonfinancial stakeholders as well new tools for financial analysis.
The tutorial discusses the practical computer analysis in the solution of problems in financial management topics . Included guidelines for the quantitative description of the planning system in financial management. An overview of key categories and provisions for asset management and capital. Revealed theoretical issues related to investment management . The material in this manual has a scientific and practical character and contains the information about the typical problems of financial management , which will be in demand by readers directly in research and professional activities. The manual is intended for students and undergraduates enrolled in the direction of "Economics" and "Management" , and may also be useful to managers and professionals , both financial and non-financial corporations.
The research was conducted based on the target prices for 6 liquid stocks issued by the 9 leading analysts. Analysis of absolute forecasting ability has not revealed any differences in forecasting ability across analysts. However, certain differences in forecastibility of stocks were found. Analysis of relative forecasting ability has identified the best performing analysts on each of the sub-period under investigation.