The Analysis of Risk Management Methods Appropriate for a Strategic Investor

NATIONAL RESEARCH UNIVERSITY HIGHER SCHOOL OF ECONOMICSDepartment of EconomicsThe Analysis of Risk Management Methods Appropriate for a Strategic InvestorAlina BurkovskayaGroup 142 Academic AdvisorElizaveta Markovskayaassociate professor, candidate of economic scienceSaint-Petersburg 2014 Baccalaureate work on the subject "The Analysis of Risk Management Methods Appropriate for a Strategic Investor" contains 9 drawings, 4 tables and 3 appendices. The volume of work is 62 pages. For this work were used 33 sources. Keywords: investments, strategic investor, risk, control system of risks, risk management.Investment activity is always accompanied by a certain share of risk. The investment can be called peculiar "a life source" for the companies. But owing to uncertain quantity of factors and options of their interaction is impossible to give a guarantee of 100% positive outcome. Therefore, by means of control system creation it is possible to prevent, lower or localize a great part of risks which are possible for predicting. But the system in each separate case should be adapted for existing conditions. This work is devoted to identify how individual features of the strategic investor influence on risk. Moreover, basic conceptions of risk-management are illuminated here. It should be noted that the connection between this two topics is not as blurred as it seems at the first glance. Such type as strategic investor has a number of distinctive characteristics, and so standard models of risk management are little unsuitable for them. Relevance of work is that it shows the analysis of a risk control system taking into account specifics of transactions, with participation of the strategic investor. And for an example the transaction of the companies was chosen from the business sphere with high rates of development and level of complexity in telecommunication branch, the market of cellular communication.Thus, relevance of subject and lack of similar researches defined the purpose of this work. Research objective is the analysis of existing techniques and a choice of the techniques which are most suitable for risk analysis of strategic investments.Object of research are the specific conditions accompanying transactions with participation of the strategic investor, and the possible non-standard risks connected with it.Scientific novelty of work is that it is directed on check of an existing way of creation of a control system by risks and methods of decrease in risks in the conditions of carrying out strategic investments. The practical importance can be pointed as creation of one of possible algorithms for formation of the risk-management system which is based on the principle of comprehensive information processing.The methodological basis of work consists of deduction and induction methods, high-quality risk analysis, the financial analysis of the company, carrying out poll, systematization of the obtained data.Work consists of the introduction, three chapters, the conclusion, the list of references and appendices. In chapter 1 “Theoretical bases of functioning of process of strategic investment and a risk management” the review of sources connected with bases of investment, the strategic investor and risk management system is given. Chapter 2 “Methodical bases of creation of system of a risk management” contains the full and deep review of risk-management systems, qualitative and quantitative methods of an assessment of risks. In a chapter 3 “The analysis of the transaction of public company (PC) “Megafon” and limited liability company (LLC) “Yota” is carried out the analysis of the non-standard terms of transaction arising with the participation of the strategic investor. Identification and the qualitative analysis of possible risks on the basis of which offers on carrying out a number of actions for decrease in risks are created is carried out.On the basis of data of the transaction of “Megafon” and “Yota” research of process of creation of a control system by risks was conducted. It was revealed that the only option of decrease in risks for this transaction is localization of risks by means of carrying out certain actions. During work it was defined that carrying out other methods isn't possible, because of the specific conditions introduced by the strategic investor, the PC “Megafon” company. The analysis of existing techniques and choice of the techniques which are most suitable for risk analysis of strategic investments was the purpose of this work. Using the algorithm applied in chapter 3, it was succeeded to establish that at creation of a risk control system with transactions of strategic investment only the method of localization of risks is effective.