• A
  • A
  • A
  • ABC
  • ABC
  • ABC
  • А
  • А
  • А
  • А
  • А
Regular version of the site
For visually-impairedUser profile (HSE staff only)SearchMenu

Estimation of Investment Attractiveness Based on Firm`s Life Cycle

Student: German Balianin

Supervisor: Oleg Tolstoguzov

Faculty: Faculty of Economics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2017

The aim of final qualifying work is to research the possibility of using five stage life cycle model based on cash flow patterns in estimation of investment attractiveness of firm on Russian capital market. The object of research is producing firms of Russian market. To accomplish this, regression analysis was used, namely panel data analysis with usage of least squares method. The result of analysis is significant positive marginal effect of maturity stage on future return on net operating assets. Also, it was discovered that growth stage does not differ significantly from maturity stage in its’ effect on RNOA. Other stages have negative effect on RNOA compared to maturity stage.

Student Theses at HSE must be completed in accordance with the University Rules and regulations specified by each educational programme.

Summaries of all theses must be published and made freely available on the HSE website.

The full text of a thesis can be published in open access on the HSE website only if the authoring student (copyright holder) agrees, or, if the thesis was written by a team of students, if all the co-authors (copyright holders) agree. After a thesis is published on the HSE website, it obtains the status of an online publication.

Student theses are objects of copyright and their use is subject to limitations in accordance with the Russian Federation’s law on intellectual property.

In the event that a thesis is quoted or otherwise used, reference to the author’s name and the source of quotation is required.

Search all student theses