Distortion of the Fair Value of Russian Companies Depending on the Choice of the Source of the Discount Rate Calculation Source

Student: Testsova Anastasia

Educational Programme: Corporate Finance (Master)

Year of Graduation: 2019

From the correct calculation of the discount rate depends on the adequacy and accuracy of the results obtained and the effectiveness of decisions that are made on the basis of these results. There are questions about the use of the CAPM model in the Russian market, in particular, the choice of data for calculating the components of the rate. Can we use data from the Russian market? How will the results differ from the data from a developed market? The purpose of this study is to analyze the components of the discount rate, calculated on the basis of data from the Russian market and from a developed market.

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