Финансовый и инвестиционный анализ
Traditional Corporate Finance techniques are not up to evaluating the new risk and reward dynamics of developed and developing companies. The issue of real options efficiency when estimating company value is considered in the article.
The paper is devoted to an analysis of foreign and Russian articles that investigated life cycle of the companies through financial determinants. Analyzing the articles in a chronological order it is possible to see that earlier authors paid much attention to such parameters as management strategy, ethical culture, decision-making by top management, etc. Financial indicators were analyzed insufficiently; the analysis was consolidated to valuating of growth of profit of the companies. The theory of life cycle grew next years. Articles were devoted to consideration a life cycle through financial determinants these years.