Теоретичні основи оцінювання та зростання вартості підприємства
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Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
ДВНЗ «Київський національний університет імені Вадима Гетьмана»
Abstract
В статті було розглянуто економічну сутність підприємства як об’єкта оцінки його активів і були визначені передумови оцінювання його вартості. Також знайшов відображення порівняльний аналіз та еволюція відомих і наявних підходів до оцінки вартості компанії. Особливої уваги заслуговує дослідження факторів формування вартості підприємства, а також детальний аналіз впливу кожного з них на загальну капіталізацію компанії. Разом з цим було проаналізовано потенціал зростання вартості підприємства в розрізі розвитку внутрішньої конкурентоспроможності та підвищення інвестиційної привабливості на прикладі компанії Phillip Morris.
The article reflects on the theoretical aspects of the definition of the concept of the value of the enterprise in terms of different stakeholders: suppliers, customers, investors, their own personnel, the state and society as a whole. In turn, the value of the enterprise was identified through the prism of the general theory of value as the fundamental definition of economic theory with theallocation of three basic concepts: the labor theory of value, the theory of marginal utility and the theory of market value. Also, the actual trends of the transformation of the theory of value were analyzed in the conditions of dissemination of the theory of information society, noting that in today’s conditions of development of the innovation sector in the leading countries of the world the main source of value is the intellectual potential and knowledge of the worker. In the article authors of the category of cost of the enterprise was presented in terms of its intended purpose. Including the article was considered and arranged the contradiction that arises in the triad of value-cost-price of capital. Special attention of the authors was focused on the modern theory of formation of the value of the company, which is to assess the strategic expected cash flows of the company, as well as the assessment of factors of external and internal influence with a detailed description of their impact on the cost of the enterprise. For a clearer understanding of the real manifestation of the influence of external factors on the cost of the enterprise, an analysis of the socio-cultural aspects of the company Phillip Morris with the further identification of the above dependence was carried out. In contrast to external factors, the authors of the article outlined the internal factors that affect the value of the company, which are the internal aspects of its activities, which collectively determine the potential and capabilities of the enterprise.
The article reflects on the theoretical aspects of the definition of the concept of the value of the enterprise in terms of different stakeholders: suppliers, customers, investors, their own personnel, the state and society as a whole. In turn, the value of the enterprise was identified through the prism of the general theory of value as the fundamental definition of economic theory with theallocation of three basic concepts: the labor theory of value, the theory of marginal utility and the theory of market value. Also, the actual trends of the transformation of the theory of value were analyzed in the conditions of dissemination of the theory of information society, noting that in today’s conditions of development of the innovation sector in the leading countries of the world the main source of value is the intellectual potential and knowledge of the worker. In the article authors of the category of cost of the enterprise was presented in terms of its intended purpose. Including the article was considered and arranged the contradiction that arises in the triad of value-cost-price of capital. Special attention of the authors was focused on the modern theory of formation of the value of the company, which is to assess the strategic expected cash flows of the company, as well as the assessment of factors of external and internal influence with a detailed description of their impact on the cost of the enterprise. For a clearer understanding of the real manifestation of the influence of external factors on the cost of the enterprise, an analysis of the socio-cultural aspects of the company Phillip Morris with the further identification of the above dependence was carried out. In contrast to external factors, the authors of the article outlined the internal factors that affect the value of the company, which are the internal aspects of its activities, which collectively determine the potential and capabilities of the enterprise.
Description
Keywords
вартість капіталу, капіталізація, управління вартістю капіталу, вартість підприємства, capital cost, capitalization, capital cost management, cost of an enterprise
Citation
Майборода Є. С. Теоретичні основи оцінювання та зростання вартості підприємства / Майборода Є. С., Смирнов Є. В. // Економіка та підприємництво : зб. наук. пр. / М-во освіти і науки України, ДВНЗ «Київ. нац. екон. ун-т ім. Вадима Гетьмана» ; [редкол.: І. М. Рєпіна (відп. ред.) та ін.]. – Київ : КНЕУ, 2018. – № 41. – С. 15–26.