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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.
Teplova T., Sokolova T., Baklanova V. et al., Экономический журнал Высшей школы экономики 2026 Т. 30 № 1 С. 49–101
The article analyzes the impact of a wide range of deep ESG components (individual ESG practices) on the value of companies, measured by the Q-Tobin coefficient. Empirical estimates are shown on a sample of public companies in the Indonesian emerging capital market, for the period from 2018 to 2023. We apply an original authors’ approach, ...
Added: June 14, 2026
Anilov A., Ivashkovskaya I., Journal of Behavioral and Experimental Finance 2026 No. 49 Article 101157
This paper examines the moderating role of corporate governance in the relationship between Chief Executive Officer (CEO) overconfidence and corporate payout decisions. Using a panel dataset of 713 S&P 1500 firms from 2010 to 2019, we contribute to the behavioral corporate finance literature in several important ways. First, building on agency theory and upper echelons ...
Added: March 3, 2026
Anilov A., Ivashkovskaya I., Journal of Economics and Business 2025 Vol. 136 Article 106259
This paper examines the role of inside debt in shaping payout decisions in corporations. We show that higher CEO ownership of debt-like components of managerial compensation known as inside debt is associated with an increased likelihood and level of share repurchases, as well it motivates CEOs to choose share repurchases as a primary channel for payout policies. ...
Added: January 4, 2026
Kostochko A., Grigorieva S., Journal of Corporate Finance Research 2024 Vol. 18 No. 4 P. 51–65
TMT (Technology, Media and Telecommunications) companies account for the largest number of M&A deals worldwide. This stems from their need to constantly evolve due to their high dependence on technological change. Participation in M&As is one of the fastest and most strategically promising ways to accelerate product development, gain access to new technologies, and increase ...
Added: January 31, 2025
Grishunin S., Burova E., Suloeva S., International Journal of Technology 2023 Vol. 14 No. 8 P. 1685–1693
We investigated the impact of Economic Sustainability (ES) practices of digitally oriented industrial companies in BRICS (Brazil, Russia, India, China, and South Africa) in various horizons. The relevance is underpinned by numerous controversies in the literature on the topic. The sample included 257 industrial companies from BRICS in 2017-2021. Economic profit in the long-term and ...
Added: June 18, 2024
Ulanov V. L., Journal of Comprehensive Business Administration Research 2024 Vol. 1 No. 1 P. 19–26
Approaches to assessing economic development and growth in the context of transition to a green and low-carbon economy are considered on the example of the Russian raw materials business. The implementation of carbon regulation leads not only to the expected environmental results, but also to a change in market conditions. The company's value in the ...
Added: December 4, 2023
Molodchik M., Гагарин А. С., Елтышев Р. А., Российский журнал менеджмента 2023 Т. 21 № 1 С. 5–22
Goal: the paper evaluates the impact of a company’s digital image on its value. Methodology: the authors use panel data analysis applied to a large array of information on the news of the 25 largest US medias, the Google Trends web application and the Twitter social network for the period from 2017 to 2022 for ...
Added: November 28, 2023
Nazarova V., Churakova I., Ореховская М. А. et al., В кн.: Финансы устойчивого развития: вызовы и стратегии 2023 (SFCS2023): сборник статей IV Международной научно-практической конференции Российский университет дружбы народов им. Патриса Лумумбы.: М.: Издательство РУДН, 2023. С. 152–166.
Annotation. The impact of the global trend towards environmental protection, social human rights and support for strong corporate governance has been particularly noticeable in recent years. The present study focuses on assessing the differences in environmental, social and governance (ESG) factors affecting company value. Both the aggregate ESG rating and each factor (E, S, G) ...
Added: August 3, 2023
Sizykh N., Sizykh D., В кн.: Стратегии устойчивого развития: экономические, юридические и социальные аспекты.: Чебоксары: ИД «Среда», 2022. Гл. 5 С. 51–69.
The capitalization of a company and the assessment of its value are one of the most important factors for the successful implementation of various sustainable development strategies. The choice of methods and models for assessing the value of a company, as well as the indicators used in them, is an urgent problem in the modern domestic ...
Added: November 1, 2022
Чебоксары: ИД «Среда», 2022.
The monograph presents research materials of well-known scientists, cooperated by the main theme of the modern vision of the ways of economic development. The monograph can be useful for managers, economists, lawyers and other employees of enterprises and organizations, representatives of state authorities and local self-government, teachers, graduate students, undergraduates and students of higher educational ...
Added: November 1, 2022
Kirpishchikov D., Lopez Iturriaga F. J., Zavertiaeva M. A., Russian Management Journal 2021 Vol. 19 No. 2 P. 195–228
The paper is aimed to analyse the most recent and relevant research on boards of directors in BRIC. Existent reviews on the board of directors do not focus on BRIC and do not consider the specifics of their corporate governance model. Therefore, the current review fills this gap by analysing 111 research papers from Scopus/Web ...
Added: December 7, 2021
Voyko A. V., Войко Д. В., Менеджмент в России и за рубежом 2020 № 4 С. 70–77
In the modern world equipment, real estate, and money savings themselves have ceased to play the role of sufficient factors for the development and growth of companies. Human capital is becoming more and more a determining criterion for evaluating the prospects of companies in the competitive struggle. At the same time, the structure of human ...
Added: November 2, 2021
Grishunin S., Suloeva S. B., Burova E. V., , in: Innovations in Digital Economy. First International Conference, SPBPU IDE 2019, St. Petersburg, Russia, October 24–25, 2019, Revised Selected Papers.: Switzerland: Springer, 2020. Ch. 1 P. 3–18.
This study discusses the development of a mechanism for assessing cyber risks in investment projects aimed at digitalizing industrial enterprises. The relevance of the study is determined by the increasing susceptibility of companies to cyber risks due to the introduction of innovations, as well as by the growing complexity and frequency of cyber threats. The ...
Added: October 10, 2020
Grigorieva S., Kuzmina Svetlana, , in: Strategic Deals in Emerging Capital Markets. Are There Efficiency Gains for Firms in BRIC Countries?.: Switzerland: Springer, 2020. Ch. 5 P. 113–135.
This chapter contributes to the literature on M&A performance by examining the impact of M&A deals on company value over the long-run in developed and emerging economies. Examining a sample of 153 and 125 deals from Western European and emerging capital markets respectively, 2002-2013, and employing economic profit as a performance measure,we find that transactions ...
Added: October 31, 2019
Nazarova V., Panoeconomicus 2021 Vol. 68 No. 3 P. 375–396
This article deals with an analysis of the M&A strategy utilized by Unilever Group, as well as with issues relating to identifying the factors defining the value of a diversified company. This article includes an estimation of the effectiveness of Unilever Group’s mergers and acquisitions strategy, aimed at creating the optimum business portfolio within the ...
Added: October 8, 2018
Dolgopyatova T. G., Libman A., Yakovlev A. A., Journal for East European Management Studies 2018 Vol. 23 No. 2 P. 177–202
The paper investigates the role of corporate governance institutions at the subsidiary level in conglomerates in emerging markets. The literature typically highlights that these institutions are necessary to reassure minority shareholders and thus to attract investors. We show that corporate governance institutions, particularly supervisory boards, can be applied for a different purpose – to organize ...
Added: September 14, 2018
Zavertiaeva M. A., Lopez Iturriaga F. J., Kuminova E. V., Managerial and Decision Economics 2018 Vol. 39 No. 4 P. 447–461
The aim of this paper is to study the influence of chief executive officers' overconfidence on corporate research and development (R&D). We analyze a sample of 766 firms from the United Kingdom, France, Germany, Switzerland, Italy, Spain, and the Netherlands between 2008 and 2013. We use 3 measures of managerial overconfidence: the press coverage of ...
Added: May 24, 2018
Гаранина Т. А., Muravyev A., Вопросы экономики 2018 № 2 С. 142–155
This article studies the gender composition of corporate boards of Russian companies, including its relation to company performance. The analysis is based on a unique longitudinal dataset of virtually all Russian companies whose shares were traded on the stock market in 1998—2014. It shows a relatively small representation of women, just 12% of all the ...
Added: April 12, 2018
Kharitonov S., Дик В. В., Прикладная информатика 2013 № 3 (45) С. 122–126
В статье рассматриваются возможности применения MS Excel при решении задач линейного программирования. Постановка задачи осуществляется в рамках концепции управления стоимостью хозяйствующего субъекта. В рассматриваемом случае управление сводится к максимизации совокупного денежного потока компании путем оказания управляющих воздействий на подсистему частных денежных потоков хозяйствующего субъекта, где и возникает необходимость и возможность применения обозначенного инструментария. ...
Added: December 19, 2017
Yasargil H., Ulanovsky A. M., , in: Board Chairs’ Practices across Countries: Commonalities, Differences, and Future Trends.: Fontainebleau: INSEAD, 2016. P. 70–77.
The article describes specific practices and instruments used by professional board chairs in Turkey. ...
Added: April 14, 2017
Jensen S. B., Ulanovsky A. M., , in: Board Chairs’ Practices across Countries: Commonalities, Differences, and Future Trends.: Fontainebleau: INSEAD, 2016. P. 56–63.
The article describes specific practices and instruments used by professional board chairs in Denmark. ...
Added: April 14, 2017