The purpose of the paper is to assess the war impact on the market value of the industrial complex enterprises of Ukraine. This is an important task for determining the investment needs to restore the Ukrainian economy, substantiating the reparations for Russia’s aggression against Ukraine, which should include the damage caused after the unleashing of a full-scale war from 24.02.2022 , and losses in the early phases of military aggression (after 22.02.2014).The author’s method of assessing the market value is based on the CVA concept. The war impact on the enterprises market value should be manifested through changes in the effects of exploitation and financing liabilities, which show a differentiated effect from changes in the internal and external business environment of enterprises in wartime. Estimates should be based on the possibility of both negative and positive effects. The main direction of the negative influence is the financing effect, which is due to the action of the external business environment factor. The Kane-Essian argument should be considered in the estimates by calculating normalized effect sizes.The normalized cumulative war impact equaled 165.1 billion dollars, which corresponds to 44.4% of the total market value of industrial enterprises of Ukraine, estimated for the period 2014–2022. About 14.4% of the total war impact on the market value of Ukraine’s industrial enterprises is attributed to the financing effect. Loss assessments can be used to evaluate the investment needs to restore destroyed and damaged business property. To determine the amount of compensation for damage caused by the war, the market value of an enterprise according to the CVA method can be used.
The research is aimed at analyzing the value-oriented conceptions of business management and studying the possibility of their implementation in the activities of Ukrainian enterprises. The carried out analysis of the literature shows the considerable attention paid by the scientific community to the issue under research, since the use of value-based conceptions in Ukrainian realities is quite problematic due to a lack of understanding of their specifics and features. The publication carries out a chronological analysis of the interpretation of the essence of the conception of «business value» by various scientists during 2011-2020. The value of the business is a volume-based indicator, thanks to which it is possible to understand the further prospects of the enterprise development and its investment attractiveness. According to theoretical research, the value of business is understood as the value of invested labor and labor resources; as the results obtained by the company from operational, investment and financial activities; as an expression of the price at which the company positions itself in the market and can potentially be reorganized. The value-oriented management should be applied at all levels – from operational to strategic. It is determined that career growth, an effective system of motivation, exchange of information and knowledge are among the few factors that affect the formation of the value of enterprise. Among the methodological approaches that allow to conduct a thorough assessment of the value of business, attention is focused on earnings, value-based, market-based and optional methods. Prospects for further research relate to a more detailed analysis of the specifics of value-oriented conceptions and analysis of domestic market conditions for the possibility of spreading the value-based management approach among managers of Ukrainian companies.
According to an inclusive growth framework, the top objectives of the economic policy shift from increasing incomes themselves to well-being. While banking sector development has conventionally been considered a growth factor, there is no clear understanding of its impact on inclusive growth. This article explores how the banking sector’s qualitative development, measured in dimensions of the services availability, lending supply, stability, and reliability of banking activity, relates to inclusive growth. To define the relations between banking system development and inclusive growth, the panel regression was employed for a sample of 46 economies selected based on the prescribed principles of sources reputability, methodology consistency, limits in data blanks, and differentiated into groups according to the World Bank’s classification. The regressions’ assessment and involved tests show evidence of the quality of constructed models and present the following results. The banking availability, approximated with the number of automated teller machines, fosters inclusive growth regarding all groups of countries. In contrast, the increase in the number of commercial banking branches has inverse relations between high-income and upper-middle-income countries, and direct for lower-middle-income countries. The bank credit expansion negatively influences the inclusive growth for high income and lower-middle-income countries. The banking sector stability approximated with bank capital to assets ratio matters in terms of inclusive growth for high-income countries only, while this indicator for upper middle and lower middle economies is statistically insignificant.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.