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Determinants of Company Value

Student: Islam Saynaroev

Supervisor: Nikolay I. Berzon

Faculty: Faculty of Economic Sciences

Educational Programme: Financial Engineering (Master)

Final Grade: 7

Year of Graduation: 2019

The management concept directed to provide company's value growth is dominating at this moment. Moreover, the main management decisions in companies are taken on the base of analysis of determinants of company value. In this context the goal of our course study becomes relevant - definition and evaluation of the main significant determinants of creation company's value on developing market. As these empirical studies are not represented in the scientific literature especially for the data of Russian companies. In this research are used spatial data of 5194 companies from BRICs countries for 2017 financial year. The methodology of the research is represented by the standard OLS model with deep quality analysis of the estimators obtained for separate BRICs countries and their econometric diagnostics. The results show that such indicators as logarithm of company's size, cash ratio of the whole amount of assets, Ebitda/Revenue ratio and dividend status have a positive influence on logarithm of company's market capitalization. On the other side, indicators of debt ratio and current liabilities ratio affected negatively on company's market capitalization.

Full text (added May 27, 2019)

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