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Regular version of the site

Article

Стейкхолдерский подход к управлению, ориентированному на приращение стоимости компании

Journal of Corporate Finance Research / Корпоративные финансы. 2012. Т. 6. № 1. С. 14-23.

This paper presents the  original model  for integrated value based management derived from  the principle of value creation for both - strategic financial and nonfinancial stakeholders.We show that stakeholder value creation assumes positive economic profit stream for non-financial stakeholders.The model requires the integration of management and corporate governance levels. The former is consistent with the proposed stakeholder value based management model (STVM), the latter is described by proposed new governance model, namely stakeholder’s value based corporate governance (STVG). The third component of integrated model is related to the strategic value reporting.