title: Ð­ÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾Ðµ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ðµ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ðµ ÐºÐ°Ðº ÑÐ°ÐºÑÐ¾Ñ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸
title: Ð²ÑÐ¿ÑÑÐºÐ½Ð°Ñ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð±Ð°ÐºÐ°Ð»Ð°Ð²ÑÐ°
titleType: Subtitle
title: Corporate governance as a method to enhance enterprise value
Creators: name: ÐÐ°ÑÑÑÐ½Ð´ÑÑÐµÐ²Ð°, ÐÐ°ÑÐ¸Ñ
Publisher: name: Ð¡Ð°Ð½ÐºÑ-ÐÐµÑÐµÑÐ±ÑÑÐ³ÑÐºÐ¸Ð¹ Ð¿Ð¾Ð»Ð¸ÑÐµÑÐ½Ð¸ÑÐµÑÐºÐ¸Ð¹ ÑÐ½Ð¸Ð²ÐµÑÑÐ¸ÑÐµÑ ÐÐµÑÑÐ° ÐÐµÐ»Ð¸ÐºÐ¾Ð³Ð¾
Year: 2022
Subjects: ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ðµ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ðµ
ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð¸
ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÑ
vbm
eva
corporate governance
enterprise value
value-based management
efficiency
economic value added

description: Ð¢ÐµÐ¼Ð° Ð²ÑÐ¿ÑÑÐºÐ½Ð¾Ð¹ ÐºÐ²Ð°Ð»Ð¸ÑÐ¸ÐºÐ°ÑÐ¸Ð¾Ð½Ð½Ð¾Ð¹ ÑÐ°Ð±Ð¾ÑÑ: Â«Ð­ÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾Ðµ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ðµ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ðµ ÐºÐ°Ðº ÑÐ°ÐºÑÐ¾Ñ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸Â». ÐÐ°Ð½Ð½Ð°Ñ ÑÐ°Ð±Ð¾ÑÐ° Ð¿Ð¾ÑÐ²ÑÑÐµÐ½Ð° Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ñ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ð² ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¸Ñ Ð¿ÑÐ±Ð»Ð¸ÑÐ½ÑÑ Ð°ÐºÑÐ¸Ð¾Ð½ÐµÑÐ½ÑÑ Ð¾Ð±ÑÐµÑÑÐ²Ð°Ñ, Ð² ÑÐ°ÑÑÐ½Ð¾ÑÑÐ¸ Ð¸ÑÐ¿Ð¾Ð»ÑÐ·Ð¾Ð²Ð°Ð½Ð¸Ñ Ð¸Ð½ÑÑÑÑÐ¼ÐµÐ½ÑÐ¾Ð² ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ð² ÑÐµÐ»ÑÑ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð¹. ÐÐ°Ð´Ð°ÑÐ¸, ÐºÐ¾ÑÐ¾ÑÑÐµ ÑÐµÑÐ°Ð»Ð¸ÑÑ Ð² ÑÐ¾Ð´Ðµ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ñ: 1. ÐÐ·ÑÑÐµÐ½Ð¸Ðµ Ð¿ÑÐ¸Ð½ÑÐ¸Ð¿Ð¾Ð² Ð¸ Ð¼ÐµÑÐ°Ð½Ð¸Ð·Ð¼Ð¾Ð² ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ; 2. ÐÑÑÐ²Ð»ÐµÐ½Ð¸Ðµ ÑÐ¿ÐµÑÐ¸ÑÐ¸ÐºÐ¸ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ð² Ð Ð¾ÑÑÐ¸Ð¸ Ð¸ ÑÐ¾Ð²ÑÐµÐ¼ÐµÐ½Ð½ÑÑ ÑÐµÐ½Ð´ÐµÐ½ÑÐ¸Ð¹; 3. ÐÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ðµ Ð²Ð»Ð¸ÑÐ½Ð¸Ñ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ð½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÐÐÐ Â«ÐÐ°Ð½Ðº ÐÐ¢ÐÂ»; 4. Ð Ð°Ð·ÑÐ°Ð±Ð¾ÑÐºÐ° ÑÐµÐºÐ¾Ð¼ÐµÐ½Ð´Ð°ÑÐ¸Ð¹ Ð¿Ð¾ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÑÐµÐºÑÐ¸Ð²Ð½Ð¾ÑÑÐ¸ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ñ ÑÐµÐ»ÑÑ ÑÐ²ÐµÐ»Ð¸ÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð¸. ÐÐ°Ð·Ð¾Ð¹ Ð´Ð»Ñ Ð½Ð°Ð¿Ð¸ÑÐ°Ð½Ð¸Ñ ÑÐ°Ð±Ð¾ÑÑ Ð¿Ð¾ÑÐ»ÑÐ¶Ð¸Ð»Ð° Ð³ÑÑÐ¿Ð¿Ð° ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¹ ÐÐÐ Â«ÐÐ°Ð½Ðº ÐÐ¢ÐÂ». ÐÐ° Ð¾ÑÐ½Ð¾Ð²Ðµ ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²Ð¾Ð¹ Ð¸ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½ÑÐµÑÐºÐ¾Ð¹ Ð¾ÑÑÐµÑÐ½Ð¾ÑÑÐ¸ ÐºÐ¾ÑÐ¾ÑÐ¾Ð¹ Ð±ÑÐ»Ð° Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½Ð° Ð·Ð½Ð°ÑÐ¸ÑÐµÐ»ÑÐ½Ð°Ñ ÑÐ°ÑÑÑ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ñ. ÐÑÐ» Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½ Ð°Ð½Ð°Ð»Ð¸Ð· ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²Ð¾Ð³Ð¾ ÑÐ¾ÑÑÐ¾ÑÐ½Ð¸Ñ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸, ÑÐ°ÑÑÐ¼Ð¾ÑÑÐµÐ½Ð¾ ÑÐ¾Ð¾ÑÐ²ÐµÑÑÑÐ²Ð¸Ðµ Ð½ÐµÐ¾Ð±ÑÐ¾Ð´Ð¸Ð¼ÑÐ¼ Ð½Ð¾ÑÐ¼Ð°Ð¼ Ð»Ð¸ÐºÐ²Ð¸Ð´Ð½Ð¾ÑÑÐ¸, Ð¾ÑÐµÐ½ÐµÐ½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð¸ Ð½Ð° Ð¾ÑÐ½Ð¾Ð²Ðµ Ð¼ÐµÑÐ¾Ð´Ð¸ÐºÐ¸ Value-based management Ð¸ Ð²ÑÐ´ÐµÐ»ÐµÐ½Ñ Ð¾ÑÐ½Ð¾Ð²Ð½ÑÐµ ÑÐ°ÐºÑÐ¾ÑÑ ÑÐ¾ÑÑÐ° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸. Ð ÐµÐ·ÑÐ»ÑÑÐ°ÑÑ Ð°Ð½Ð°Ð»Ð¸Ð·Ð° ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð²Ð½Ð¾Ð³Ð¾ ÑÐ¿ÑÐ°Ð²Ð»ÐµÐ½Ð¸Ñ Ð¾Ð±Ð¾ÑÐ½Ð¾Ð²Ð°Ð»Ð¸ Ð½ÐµÐ¾Ð±ÑÐ¾Ð´Ð¸Ð¼Ð¾ÑÑÑ Ð²Ð½ÐµÐ´ÑÐµÐ½Ð¸Ñ ÑÑÐ´Ð° Ð¼ÐµÑÐ¾Ð¿ÑÐ¸ÑÑÐ¸Ð¹ Ð² ÑÐµÐ»ÑÑ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾ÑÐ¿Ð¾ÑÐ°ÑÐ¸Ð¸. ÐÑÐµÐ´Ð»Ð¾Ð¶ÐµÐ½Ð½ÑÐµ ÑÐµÐºÐ¾Ð¼ÐµÐ½Ð´Ð°ÑÐ¸Ð¸ Ð±ÑÐ»Ð¸ Ð¾ÑÐµÐ½ÐµÐ½Ñ Ñ ÑÐ¾ÑÐºÐ¸ Ð·ÑÐµÐ½Ð¸Ñ ÐºÐ¾Ð½ÑÐµÐ¿ÑÐ¸Ð¸ VBM Ð¸ Ð±ÑÐ»Ð¾ Ð¾Ð¿ÑÐµÐ´ÐµÐ»ÐµÐ½Ð¾ Ð¸Ñ Ð²Ð»Ð¸ÑÐ½Ð¸Ðµ Ð½Ð° ÑÐ°ÐºÑÐ¾ÑÑ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ Ð¿Ð¾ Ð¼Ð¾Ð´ÐµÐ»ÑÐ¼ EVA Ð¸ MVA.
description: The subject of graduate qualification work is âCorporate governance as a method to enhance enterprise valueâ. This work is devoted to the study of corporate governance in Russian public joint stock companies, in particular the use of corporate governance methods to increase the enterpriseâs value. The research set the following goals: 1. Studying the principles and mechanisms of corporate governance. 2. Identification the specifics of corporate governance in Russia and determining the current transformations in corporate governance. 3. Analysis of the impact of corporate governance on the value of PJSC Bank VTB. 4. Development of the guidelines for improving the efficiency of the corporate governance to increase the value of the corporation. The group of companies PJSC "VTB Bank" served the basis for the work. Financial and management reports were studied to carry out the significant part of the research. An analysis of the financial condition of the company was carried out, compliance with the necessary liquidity standards was considered, the value of the corporation was assessed based on the Value-based management methodology, and the main factors of value growth were identified. The results of the corporate governance analysis substantiated the need to introduce measures to improve enterprise value. The proposed guidelines were evaluated in terms of the VBM concept and their impact on the cost factors for the EVA and MVA models was determined.