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  • Financial Sustainability Assessment of Enterprises of Industries in Russia in the Conditions of Economic Instability

Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Vera Vasileva
Financial Sustainability Assessment of Enterprises of Industries in Russia in the Conditions of Economic Instability
Finance
(Master’s programme)
2017
The conditions of economic instability adversely affect the financial condition of companies and the role of the financial stability assessment increases in the process of making investment and credit decisions. In most cases, the risk of losing financial stability is equated with the risk of bankruptcy and is estimated by bankruptcy prediction models. However, these models ignore company's potential in the long term and sustainability of its fundamental value in conditions of economic instability. Thus, the need for an integrated financial sustainability assessment of the company, embracing bankruptcy prediction models and value approach, increases. Considering the different impact of the economic instability conditions on individual industries and the need to include the sectoral component in the company's financial stability assessment, the importance of sectoral methods of financial sustainability assessment increases.

The scientific novelty of this master's dissertation is to assess the financial stability of enterprises by using the MVA indicator and on the basis of it to identify the most sustainable industries in the conditions of economic instability. As a result of the research, it was proposed to assess the financial sustainability of industry enterprises based on three indicators - bankruptcy probability indicator, the change in capitalization and the MVA index, which allows for a deeper industry analysis that can be used in making investment and credit decisions.

Keywords: a financial stability assessment; the financial analysis; bankruptcy prediction models; fundamental value of the company; capitalization; MVA.

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