Justification of the adjustment of business valuation methods in the conditions of sanctions restrictions (on the example of the timber industry)
https://doi.org/10.29030/2309-2076-2023-16-2-76-94
Abstract
In the article, on the example of the timber industry complex, the practical aspects of the formation of business value are considered, taking into account sanctions economic restrictions.
Materials and methods. The article uses the legal acts of the Russian Federation that regulate business valuation. information and analytical materials of Russian and international scientific publications, stock market data.
Results. The author examines the cost factors of business in the timber industry. Structured the impact of sanctions on business value factors. Methodological recommendations have been developed for building a financial model in order to assess enterprises in the field of wood processing and the production of wood and cork products, except for furniture, using an income approach.
Conclusions. Factors of fundamental cost of business in the field of timber industry complex have been identified and classified. The scheme of the impact of sanctions on business value factors in the timber industry is substantiated. The financial model defines the main indicators needed to calculate the operating cash flow, reinvestment in the form of capital expenditures and current assets. The measure of the systematic risk of the industry and the discount rate are calculated under the conditions of inversion of bond yield curves and a decrease in the market yield of the Russian market.
About the Author
I. I. Gulevich
Financial University under the Government of the Russian Federation, Eurasian Economic Commission
Russian Federation
Russian Federation
Ivan I. Gulevich – associate professor of the Department of corporate finance and corporate governance of the faculty of economics and business, adviser to the analytical support Department of the protocol and organizational support Department of the Eurasian Economic Commission
Moscow
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Review
For citations:
Gulevich I.I. Justification of the adjustment of business valuation methods in the conditions of sanctions restrictions (on the example of the timber industry). Economic Systems. 2023;16(2):76-94. (In Russ.) https://doi.org/10.29030/2309-2076-2023-16-2-76-94
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