Роль корпоративного риск-менеджмента в снижении последствий инвестиционной близорукости

Научный журнал НИУ ИТМО. Серия: Экономика и экологический менеджмент. 2018. № 3. С. 61–75.

Makarova V. A., Кальченко А. В., Пацей Л. А.

Within the framework of this work, the phenomenon of short-termism as an obstacle to the creation of a long-term strategy has been studied using the example of the Russian metallurgical industry. Disclosure of factors to strengthen the policy of short-term decisions occurs through the theory of information asymmetry. Speaking particularly about short-run planning horizons, we focused my attention on the topic of short-termism (investment myopic) and consequently information asymmetry as a cause of short-termism emergence. Further, we described instruments, which aimed to mitigate the outcomes of sort-termism negative impact in the light of risk-management theory. In this paper we want to explain how and in what extend do ERM instruments influence on the company’s attitude toward short-term strategy. In other words, we consider that information asymmetry existing between managers and investors creates short-termism. This fact means the obstacle to the company’s long-term value formation emergence.

Keywords: asymmetric information, инвестиционная близорукость, корпоративный риск-менеджмент, corporate risk management, investment myopia, теория ассиметричной информации.