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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Veronika Galkina
Factor Analysis and Estimation of Investment Attractiveness for Oil Companies
Finance
(Master’s programme)
2018
The study aims to identify the factors affecting the investment attractiveness of Russian oil & gas production companies and to define the power of influence of these factors. Return on equity (ROE) is one of main indicators of company performance and the measure of how effective the management generate profit with own capital. In other words, ROE is the indicator of investment attractiveness for a firm. Therefore, multiplier ROE has been chosen for evaluation of investment attractiveness. In this study ROE is compared to the largest production companies within oil and gas sector in Russia, tracking the dynamics of the indicator for several periods (5-6 years). The regression analysis is used as the main method to define the indicators and their degree of influence ROE. The components from modified DuPont model and additional two ratios – earnings-to-price and current ratio are used as independent variables. According to obtained results, operating margin, asset turnover, tax burden, financial leverage are the most relevant indicators with regard to evaluation of ROE for oil and gas industry

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