The latest tendency has been featuring an increase in the number of Russian companies that follow the principles of Value-Based Management(VBM), which is essentially a synergetic combination of corporate finance and strategic management. Strategic decisions are the principal driving force of a...

The author's interpretation of concepts of fair and investment value of the company is given in article, and on this base the algorithm of adoption of the strategic decisions focused on growth of value of the company is described. Locate in the offered algorithm of management of the value of the...

For the management focused on growth of value of the company is important not only ability to apply the standard methods to an assessment of the companies, but also that is more important, to possess tools of diagnostics of fair value of the company. It will allow to carry out the analysis of...

Russian Abstract: Работа посвящена теоретическим и методическим вопросам оценки компаний и инвестиционных проектов в условиях растущей неопределенности внешней...

Russian Abstract: В рамках развития концепции менеджмента, ориентированного на рост ценности компании, предложен, в постановочном плане, алгоритм выработки...

In explaining economic phenomena, economic analysis concentrates on selected influences and fixes the host of other factors under a ceteris paribus clause. This view, which goes back to Alfred Marshall (1842-1924), is developed in the first part of the book. Aggregation is viewed as a particular...

Life annuities provide a guaranteed income for the remainder of the recipient’s lifetime, and therefore, annuitization presents an important option when choosing an adequate investment strategy for the retirement ages. While there are numerous research articles studying annuities from a...

Even 50 years after Modigliani/Miller’s irrelevance theorem, the basic question of how firms choose their capital structure remains unclear. This survey paper aims at summarizing and discussing corresponding recent developments in empirical capital structure research, which, in our view, are...

There has been a wide-spread misconception based on the imprecise wording of Art. 52 of the European Patent Convention (EPC) that the protection of business methods by patents is prohibited in Europe. This paper investigates the legal framework set by patent laws with respect to the...

Ein Großteil der Neugründungen in Deutschland ist auf staatliche Förderung von Existenzgründern zurückzuführen. Dieser Anteil hat sich nach Einführung des als „Ich-AG“ bekannten Existenzgründungszuschusses Anfang 2003 stark erhöht. Die Erfolgsfaktorenforschung hat diese Form von...