This article evaluates the peculiarities of current corporate ratings systems and addresses specific issues of the development of econometrical rating models for emerging market enterprises. Financial indicators, market-value appraisals, industrial as well as macroeconomic factors of different countries were used as explanatory variables. Ratings of the Standard & Poor's, Moody's Investors Service and Fitch Ratings agencies were considered and used for modelling. The predictive power of the econometrical models was examined. A comparison of the methodologies of the three leading agencies was discussed.
The development of the company via the procedure of mergers and acquisitions (M&A) can have the negative impact on its appreciation by business groups, analytics and investors, and it can be estimated as value destruction.
The purpose of this paper is to estimate the motives of the M&A, that is aimed to form the optimal business portfolio for the diversified company, via its influence on the firm value. The article examines the theoretical aspects of the M&A procedure. It discloses some important issues linked with the corporate diversification.