Financial Economics. FE. Высшая школа экономики, 2013. No. WP BRP 20/FE/2013.
Романенко К. Р., Козлов Д. В., Лешуков О. В. и др. Вып. 2: Уроки международного опыта слияний университетов. М.: НИУ ВШЭ, 2015.
Shakina E. A., Barajas A. Management. MAN. Высшая школа экономики, 2014. No. WP BRP 17/MAN/2014.
This study investigates factors of corporate success over the crisis period of 2008-2009. We advocate the idea that investments in intangibles allow a company to be better off, even if the markets go down. The hypothesis put forward in this paper was tested on a sample of more than 300 companies which operate in developed and emerging European markets, and belong to traditional and innovative industries. The application of statistical tools showed a robust significant link between the companies’ investment decisions and their performance before and during the crisis. This study contributes to empirical corporate finance as it provides evidence that investment restriction is not the best response to an economic recession.
Багаев А. С., Кочугуева М. Н. Корпоративные финансы. 2011. № 1. С. 68-75.
This article is intended to summarize the key works on Quality Management in order to obtain a unified theoretical basis. Applicability to Russian companies is discussed. Differences between the classic quality paradigm and the TQM ideas are focused and studied thoroughly. Basing on the most recognized works of Crosby, Juran and Deming, the history of Quality Management ideas development is shown. Mechanisms of impact of implemented quality management systems on company results are shown, since it is required in order to perform an empirical study of quality management effectiveness. Also several aims for empirical studies are proposed. Possibility of Quality Management implementation for Russian companies is also discussed.
Chirkova E. V. NY: McGraw-Hill Education, 2015.
Many books have been written about Warren Buffett’s value-investing strategy, and volumes more have been written about becoming a top-tier value investor. Even so, no one can touch the success Warren Buffett has achieved. Why? In this revealing examination of Buffett’s success, practitioner, professor, and bestselling author Еlena Chirkova proposes the key to replicating his achievements is found in his acquisition practices as well as his investment strategy.
Additionally, readers are treated to extraordinary coverage of how Buffett strategically set up Berkshire Hathaway to suit his personal long-term investment strategy and provide almost cost-free leverage. See how Buffett’s singular acquisition tactics and portfolio investments earned Berkshire Hathaway the distinction as “the right home for the right people,” which gives him access to deals unobtainable by other companies and investors.
You’re only investing with half a strategy until you take your value investing to the next level with The Warren Buffett Philosophy of Investment.
Голованова С. В., Корнеева Д. В. Современная конкуренция. 2013. № 5(41). С. 24-35.
This paper is devoted to the analysis of mergers and acquisitions in Russia. Using the statistical and econometric methods the estimation of macroeconomic and industry factors influence on the intensity of mergers and acquisitions processes by sectors of Russian industry is carried out. As a result the relationship between the activity of the redistribution process of the corporate control rights and some industry characteristics such as an involvement into the foreign trade, the relative industry size, the concentration of production is revealed.
Акбулатова Д. Р. In bk.: Global Business Conference 2013 Proceedings: Socially responsible business and global/local competitiveness. Zagreb: Innovation Institute, 2013. P. 13-16.
Did relational capital matter during the financial crisis?
This paper aims to contribute to the body of empirical studies that address the importance of investments in companies’ relationships and the way in which they influence value creation in the global economic crisis. We employ linear panel analysis using the Hausman–Taylor model to analyse panel data for companies from the five largest European countries in the period 2004–2011. Different types of exogenous and endogenous links which a company could have in different stages of the crisis are investigated. The findings suggest that there is a statistically significant and positive link between relational capital and a firm’s value. Moreover we identify several differences in the significance of the inputs during different crisis periods. The study provides both theoretical and practical insights into investments in intangibles for framing strategy decisions with a particular focus on the role of relational capital. This could provide scholars and practitioners with a working basis for understanding connections and the implications of strategizing in the context of a company’s networks.
Gridneva N. N. St. Petersburg: OOP, 2011.
This study guide, being a logical continuation of the book by N.Gridneva and S.Solntsev ‘Business English’, is for the students of non-linguistic departments who study Business English. Its structure consists of several sections including a text on one of the five topics, a series of pre- and after-reading tasks on its understanding, and also a range of various vocabulary and grammar exercises. This book helps students work on the topics more profoundly either in class or all by themselves. Besides, it can be also useful for all people studying Business English.
This study investigates the factors that support or obstruct market value creation through intangible capital. We explore the impact of intangibles and exogenous shocks on corporate attractiveness for investors measured by Market Value Added (MVA). Specifically we analyze relationship between intangible-driven outperforming of companies, measured by Economic Value Added (EVA) and a number of intangible drivers on macro, meso and micro level. We suppose that the process of value creation is confined not only by companies’ performance. It is established in our study that investment attractiveness is affected by intangibles. Our empirical research is conducted on more than 900 companies from Europe and US during the period of 2005-2009. We found out in this study that a company’s experience, size and innovative focus facilitate value creation. An unexpected result was revealed concerning countries’ education level, which appears to be an obstructive condition for intangible-driven value creation. Our findings extend the understanding of the phenomenon of intangible capital and enable the improvement of investment decision-making.
Zavertiaeva M. A., Naidenova I. N. In bk.: EBES 2011 Conference - Zagreb. Zagreb: University of Zagreb, 2011. P. 1311-1325.
Value-based management concept regards corporate value growth for all stakeholders as the main company purpose which nowadays is primarily provided by intangible assets. However analysis of the process of converting intellectual capital (IC) and its components into the company financial performance is still a challenging research area. The main aim of the current study is to investigate the intellectual capital transformation into the company value on the basis of available information.