Methodological Approaches to Business Valuation in Condition of Sanctions Restrictions
( Pp. 271-277)
More about authors
Ivan I. Gulevich
Associate Professor of the Corporate Finance Department and Corporate Management of the Faculty of Economics and Business, Adviser of the Analytical Support Department of the Protocol Department and Organizational Support
Financial University under the Government of the Russian Federation; Eurasian Economic Commission
Moscow, Russian Federation; Russian Federation
Financial University under the Government of the Russian Federation; Eurasian Economic Commission
Moscow, Russian Federation; Russian Federation
Abstract:
The article deals with the problem of business valuation in condition of sanctions restrictions. To increase the confidence of investors both from outside and in the countries of the Eurasian Economic Union it is necessary to develop common approaches to business valuation in the current conditions. Materials and methods. The article uses the laws and regulations of the Russian Federation governing business valuation, as well as International standards for valuation activities, information and analytical materials of Russian and international scientific publications. Results. The authors consider the typology and examples of the impact of sanctions on the sectors of the Russian economy. The following types of sanctions have been identified: personal and financial and economic, including financial, energy, technological, transport and logistics. The critical analysis of the applicability of approaches and methods for business valuation in condition of sanctions restrictions is made. Conclusion. Actual relevant systemic sanction changes in the economy have been identified and classified, as a result of which it has become possible to justify the resulting business value formation factors. Not all approaches and methods are applicable to business valuation in condition of sanctions restrictions; in this regard, the urgent scientific and practical task is the development of theoretical, methodological and practical provisions for estimating the value of business under sanctions factors, taking into account industry specifics.
How to Cite:
Gulevich I. I. Methodological Approaches to Business Valuation in Condition of Sanctions Restrictions // ECONOMIC PROBLEMS AND LEGAL PRACTICE. 2023. Vol. 19. № 2. P. 271-277. (in Russ.)
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Dermine J. Bank valuation and value-based management: Deposit and loan pricing, performance evaluation, and risk management. New York: McGraw-Hill Book Co.; 2015. 528 p.
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Uskov V. V. Assessment of the impact of risks of foreign economic activity in the context of sanctions and the Covid-19 pandemic / V. V. Uskov, M. G. Kekutiya // Economics: yesterday, today, tomorrow. —2022. —V. 12, No. 9-1. –P. 680–690. —DOI 10.34670/AR.2022.73.65.004. —EDN SICPXU.
Akinfiev, V. K. Sanctions and modelling of the financial stability of companies / V. K. Akinfiev // Management of large systems: collection of works. —2022. —No. 97. —P. 29–57. —DOI 10.25728/ubs.2022.97.2. —EDN RBBZBM.
Treshchevsky, Yu. I. Analysis and forecasting of the impact of economic sanctions on the Russian economy in the short term—economic-statistical and expert approaches / Yu. I. Treshchevsky, A. Yu. Kosobutskaya, F. K. Maketche // Theoretical Economics. —2022. —No. 10(94). –P. 132–147. —DOI 10.52957/22213260_2022_10_132. —EDN DZIKNF.
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Boldova K. Manufacturing in Russia: results of 2022. URL: https://journal.open-broker.ru/research/promyshlennoe-proizvodstvo-v-rossii/?ysclid=le72np1ouu276686487 (date of access 15/02/2023).
Federal valuation standard «Types of value» (FSO II)», Order of the Ministry of Economic Development of Russia dated April 14, 2022 No. 200.
The Federal Law of July 29 1998 No. 135-FZ «On estimated activity in the Russian Federation» (as amended on 18.03.2020 No. 66-FZ).
Pomulev, A. A. Methodological aspects of the valuation of credit institutions in conditions of external uncertainty / A. A. Pomulev, N. S. Pomuleva // Finance: theory and practice. —2022. —V. 26, No. 6. —P. 212–232.
Pakhnovskaya N.M., Mishurova A.I. Features of using the Black-Scholes model in evaluating the effectiveness of investment projects / Economic analysis: theory and practice. —2018. V. 17, No. 7. —P. 1285–1301.
Chance, D.M. and Yang, T.-H. (2007), «Black–Scholes–Merton, Liquidity, and the Valuation of Executive Stock Options», Hirschey, M., John, K. and Makhija, A.K. (Ed.) Issues in Corporate Governance and Finance (Advances in Financial Economics, Vol. 12), Emerald Group Publishing Limited, Bingley, pp. 271–310. https://doi.org/10.1016/S1569-3732(07)12011-9.
Keywords:
business valuation in condition of sanctions restrictions, classification of systemic sanctions changes in the economy..
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