When drafting a contract, it is often impossible for the parties to consider and specify in the contract all kinds of unforeseen circumstances. In particular, the parties may not be able to provide a detailed description of the global situation so that the outsiders (courts) could later verify...

In work the methodology of strategic management of the value of the company taking into account risks of the realized projects is offered. New measures of risks of projects, such as VaR of the project, ES project, marginal VaR of the project and cost of VaR of the project are considered and...

The theory of cost of capital (long-term) assets [Sharpe, 1964, Lintner, 1965, Mossin, 1966] based on G. Markovits's model [Markovitz, 1952,1059], for many years forms base for estimated calculations in the investment analysis and corporate finance. But it implicitly means an assumption that the...

When forming an investment portfolio there are two effects influencing its not systematic risk. And if the first of them – diversification – is well studied, the second – an inequality of specific risk of components of a portfolio – remained on the periphery. In works and by the...

Options of minimization of the company costs associated with the redemption of shares at the request of shareholders in accordance with the Article 75-76 of the Federal Law "On Joint Stock Companies" are analyzed

Business companies are often faced with unusual situations that are not regulated by law. In particular, what should be done in case when the quantity of candidates who have earned more than 50% of the votes from the Meeting participants exceeds the quantitative composition of the body of a...

The aim of this paper is to study the influence of nonlinear dependencies on a nonlifeinsurers risk and return profile. To achieve this, we integrate several copulamodels in a dynamic financial analysis (DFA) framework and conduct numericaltests within a simulation study. We also test several...

Dynamic financial analysis (DFA) has become an important tool in analyzing thefinancial situation of insurance companies. Constant development and documentationof DFA tools has occurred during the last years. However, several questionsconcerning the implementation of DFA systems have not been...

In this paper, we have presented a corporate valuation model. The model combine several valuation methods in order to get more accurate results. To determine the corporate asset value we have used the Gordon-like two-stage asset valuation model based on the calculation of the free cash flow to...