Comprehensive application of methods of business valuation within analysis of innovative company by different stakeholders

As part of the research, an analysis of traditional and modern methods of innovative business valuation and monitoring was carried out. The specificity of each model from the point of view of different stakeholders was identifies. We suggest the comprehensive approach, that allows to analyze different categories of company’s value and indicators, derived from capitalization in order to substantiate a wide row of investment decisions within value based management of innovative company

Keywords: investment analysis, value of innovative company, value-based management, business valuation.

References

  1. A. Rappaport. Creating Shareholder Value: A Guide For Managers And Investors. Free Press, 1999.
  2. G. B. Stewart. The Quest for Value. N. Y.: HarperCollins Publishers, 1991.
  3. S. V. Valdaitsev. Business Valuation: textbook. 3rd ed. М.: Velbi, Prospect, 2008.
  4. Methodological Recommendations on Investment Projects’ Evaluation, adopted by Ministry of Economy, Ministry of Finance of RF. 21.06.1999. № VK 477.
  5. A. Rappaporot. Creating Shareholder Value: The New Standard for Business Performance. New York, Free Press, 1986.
  6. R. Turner. Projects for Shareholder Value: The Influence of Project Performance Parameters at different Financial Ratios//Project Management. № 4. 1998.
  7. V. V. Tzarev, A. A. Kantarovich. Business Valuation. Theory and Methodology: textbook. М.: Unity-Dana, 2007.
  8. A. Damodaran. Investment Valuation: Tools and Techniques for Determining the Value of Any Asset (2nd ed.). John Wiley&Sons, 2002.
  9. Е. А. Spiridonova. Business Valuation: Textbook for bachelor and master. М.: Urait, 2018.
  10. E. A. Spiridonova, A. A. Nosov. Application of Modern Business Valuation Methods for Intellectual Property Estimation and Management//Economy and Entrepreneurship. 2021. № 12 (137). P. 1042-1047.
  11. J. Tobin. A General Equilibrium Approach to Monetary Theory//Journal of Money, Credit and Banking. Vol. 1. № 1. Feb. 1969.
  12. I. I. Telechov. Problems of Real Options Application in Investment Project Analysis//Russian Entrepreneurship. 2013. № 6 (228). P. 143-148.
  13. F. Black, M. Scholes. The Pricing of Options and Corporate Liabilities//Journ. Polit. Econ. May–June 1973. P. 637-657.
  14. S. V. Krukov. The Choice of Methods and Models for valuation the Effectiveness of investment Projects under Conditions of Uncertainty//Terra Economicus. 2008. Vol. 6. № 3. P. 107-113.
  15. А. А. Perfiliev, L. P. Bufetova, S. V. Mutilin, I. O. Potaturkin. Methods and Models for Assessing the Innovativa Companies’ Strategies of Development//World of Economics and Management. 2022. Vol. 12. №. 2. P. 92-106.
  16. Е. А. Spiridonova, А. S. Prokopenko. Monitoring of Innovative Project’ Realization for Taking Major Investment Decisions//Innovations. 2017. №. 6 (224). P. 105-112.

Authors