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Analysis of long-term shareholders value drivers: evidence from UC Rusal

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  • TRUSOVA NADEZHDA

    (Financial University)

Abstract

В статье раскрываются ключевые факторы создания стоимости бизнеса, их важность и особенности применения в принятии инвестиционных решений, а также анализе эффективности бизнеса. Раскрывается взаимосвязь между акционерной и стейкхолдерской стоимостью бизнеса. Инструментарий, используемый для анализа,это методы дисконтированных денежных потоков, добавленной экономической стоимости, а также анализ на базе справедливых мультипликаторов. В результате модификации и применения указанных моделей были проанализированы ключевые драйверы создания стоимости бизнеса. Результаты исследования были протестированы: была построена модель анализа стоимости бизнеса и выявлены ключевые драйверы роста стоимости бизнеса компании «РУСАЛ».The article shows key business value drivers, their importance and applicability in investment decision-making process and in business efficiency analysis. It also shows the correlation between shareholders and stakeholders value. The article presents such approaches of business valuation as market capitalization approach, DCF and EVA approaches of fair value analysis, and fair multiples valuation model. The use of these models shows the main value drivers which enable detailed value creation analysis. The results of models created in this work are tested: we built a real model of business valuation and key value drivers analysis, with evidence from RUSAL Group.

Suggested Citation

  • Trusova Nadezhda, 2015. "Analysis of long-term shareholders value drivers: evidence from UC Rusal," Review of Business and Economics Studies, CyberLeninka;Федеральное государственное образовательное бюджетное учреждение высшего профессионального образования «Финансовый университет при Правительстве Российской Федерации» (Финансовый университет), issue 4, pages 64-78.
  • Handle: RePEc:scn:031730:16485158
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