title: ÐÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ðµ Ð²Ð»Ð¸ÑÐ½Ð¸Ñ ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ Ð½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ 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: Research on the impact of transparency on company value
Creators: name: ÐÐµÑÐ¶Ð°Ð²Ð¸Ð½, ÐÐ¸ÐºÑÐ¾Ñ
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: 2021
Subjects: ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÑ
Ð¿ÑÐ¾Ð·ÑÐ°ÑÐ½Ð¾ÑÑÑ
Ð¸Ð½Ð´ÐµÐºÑ
ÐºÐ°Ð¿Ð¸ÑÐ°Ð»Ð¸Ð·Ð°ÑÐ¸Ñ
ÑÐµÐ³ÑÐµÑÑÐ¸Ñ
transparency
index
capitalization
regression

description: ÐÐ±ÑÐµÐºÑÐ¾Ð¼ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ñ ÑÐ²Ð»ÑÐµÑÑÑ Ð°Ð½Ð°Ð»Ð¸Ð· Ð²Ð»Ð¸ÑÐ½Ð¸Ñ Ð¸Ð½Ð´ÐµÐºÑÐ° ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ Ð½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸, Ð²ÑÑÐ°Ð¶ÐµÐ½Ð½Ð¾Ð¹ Ð² ÑÑÐµÑ ÑÐ°Ð·Ð»Ð¸ÑÐ½ÑÑ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»ÑÑ: ÑÑÐ½Ð¾ÑÐ½Ð°Ñ ÐºÐ°Ð¿Ð¸ÑÐ°Ð»Ð¸Ð·Ð°ÑÐ¸Ñ, ÐºÐ¾ÑÑÑÐ¸ÑÐ¸ÐµÐ½Ñ MTBV Ð¸ ÐºÐ¾ÑÑÑÐ¸ÑÐ¸ÐµÐ½Ñ Ð¢Ð¾Ð±Ð¸Ð½Ð°. ÐÑÐ½Ð¾Ð²Ð½Ð¾Ð¹ Ð·Ð°Ð´Ð°ÑÐµÐ¹ Ð´Ð°Ð½Ð½Ð¾Ð¹ ÑÐ°Ð±Ð¾ÑÑ Ð±ÑÐ´ÐµÑ ÑÐ²Ð»ÑÑÑÑÑ Ð²ÑÑÐ²Ð»ÐµÐ½Ð¸Ðµ Ð¿Ð¾Ð»Ð¾Ð¶Ð¸ÑÐµÐ»ÑÐ½Ð¾Ð¹ Ð·Ð°Ð²Ð¸ÑÐ¸Ð¼Ð¾ÑÑÐ¸ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÑÐ¸ÑÐ¼Ñ Ð¾Ñ ÑÐ²ÐµÐ»Ð¸ÑÐµÐ½Ð¸Ñ Ð¸Ð½Ð´ÐµÐºÑÐ° ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸, Ð° ÑÐ°ÐºÐ¶Ðµ Ð¾Ñ Ð´ÑÑÐ³Ð¸Ñ Ð½ÐµÐ·Ð°Ð²Ð¸ÑÐ¸Ð¼ÑÑ Ð¿Ð¾ÐºÐ°Ð·Ð°ÑÐµÐ»ÐµÐ¹, ÑÐ°ÐºÐ¸Ñ ÐºÐ°Ðº ÐºÐ¾ÑÑÑÐ¸ÑÐ¸ÐµÐ½Ñ ÑÐµÐ½ÑÐ°Ð±ÐµÐ»ÑÐ½Ð¾ÑÑÐ¸ Ð°ÐºÑÐ¸Ð²Ð¾Ð², ÑÐ¸Ð½Ð°Ð½ÑÐ¾Ð²ÑÐ¹ ÑÑÑÐ°Ð³, ÑÐ°Ð·Ð¼ÐµÑ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸, Ð¿ÑÐ¸ÑÑÑÑÑÐ²Ð¸Ðµ Ð³Ð¾ÑÑÐ´Ð°ÑÑÑÐ²Ð° Ð² Ð¾ÑÐ³Ð°Ð½Ð¸Ð·Ð°ÑÐ¸Ð¸, ÐºÐ¾ÑÐ¸ÑÐ¾Ð²ÐºÐ° Ð°ÐºÑÐ¸Ð¹ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸ Ð·Ð° ÑÑÐ±ÐµÐ¶Ð¾Ð¼ Ð¸ ÐºÐ¾Ð½ÑÐµÐ½ÑÑÐ°ÑÐ¸Ñ Ð°ÐºÑÐ¸Ð¹. Ð Ð´Ð°Ð½Ð½Ð¾Ð¼ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ð¸ Ð¿ÑÐ¾Ð²ÐµÐ´ÐµÐ½ Ð°Ð½Ð°Ð»Ð¸Ð· Ð¸Ð½Ð´ÐµÐºÑÐ° ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸, Ð° ÑÐ°ÐºÐ¶Ðµ Ð°Ð½Ð°Ð»Ð¸Ð· Ð¿ÑÐµÐ´ÑÐ´ÑÑÐ¸Ñ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ð¹ Ð½Ð° ÑÐµÐ¼Ñ Ð²Ð»Ð¸ÑÐ½Ð¸Ñ Ð´Ð°Ð½Ð½Ð¾Ð³Ð¾ ÐºÐ¾ÑÑÑÐ¸ÑÐ¸ÐµÐ½ÑÐ° Ð½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÑÐ¸ÑÐ¼Ñ. ÐÐ¾ÐºÐ°Ð·Ð°Ð½ ÑÐ°ÑÑÐµÑ Ð¸Ð½Ð´ÐµÐºÑÐ° ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ Ð¸ Ð¿Ð¾ ÐºÐ°ÐºÐ¸Ð¼ ÐºÑÐ¸ÑÐµÑÐ¸ÑÐ¼ Ð¾Ð½ Ð¿ÑÐ¾Ð¸Ð·Ð²Ð¾Ð´Ð¸Ð»ÑÑ, ÑÐ°ÐºÐ¶Ðµ Ð±ÑÐ»Ð° Ð¿Ð¾ÑÑÑÐ¾ÐµÐ½Ð° ÑÐµÐ³ÑÐµÑÑÐ¸Ð¾Ð½Ð½Ð°Ñ Ð¼Ð¾Ð´ÐµÐ»Ñ Ð´Ð»Ñ Ð²ÑÑÐ²Ð»ÐµÐ½Ð¸Ñ Ð·Ð°Ð²Ð¸ÑÐ¸Ð¼Ð¾ÑÑÐ¸ Ð¼ÐµÐ¶Ð´Ñ ÑÑÐµÐ¿ÐµÐ½ÑÑ ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸ Ð¸ ÐµÐµ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑÑ. ÐÐ¾ ÑÐµÐ·ÑÐ»ÑÑÐ°ÑÐ°Ð¼ Ð¸ÑÑÐ»ÐµÐ´Ð¾Ð²Ð°Ð½Ð¸Ñ Ð±ÑÐ»Ð¾ Ð²ÑÑÐ²Ð»ÐµÐ½Ð¾, ÑÑÐ¾ Ð¸Ð½Ð´ÐµÐºÑ ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ Ð¾ÐºÐ°Ð·ÑÐ²Ð°ÐµÑ Ð¿Ð¾Ð»Ð¾Ð¶Ð¸ÑÐµÐ»ÑÐ½Ð¾Ðµ Ð²Ð»Ð¸ÑÐ½Ð¸Ðµ Ð½Ð° ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÑ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸. Ð¢Ð°ÐºÐ¶Ðµ Ð±ÑÐ»Ð° Ð¾Ð¿ÑÐµÐ´ÐµÐ»ÐµÐ½Ð° ÑÑÐµÐ¿ÐµÐ½Ñ Ð²Ð»Ð¸ÑÐ½Ð¸Ñ Ð´ÑÑÐ³Ð¸Ñ Ð½ÐµÐ·Ð°Ð²Ð¸ÑÐ¸Ð¼ÑÑ ÑÐ°ÐºÑÐ¾ÑÐ¾Ð², Ð¿ÐµÑÐµÑÐ¸ÑÐ»ÐµÐ½Ð½ÑÑ Ð²ÑÑÐµ, Ð½Ð° Ð¾ÑÐµÐ½ÐºÑ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÑÐ¸ÑÐ¼Ñ. ÐÑÐ» ÑÑÐ¾ÑÐ¼Ð¸ÑÐ¾Ð²Ð°Ð½ ÑÑÐ´ ÑÐµÐºÐ¾Ð¼ÐµÐ½Ð´Ð°ÑÐ¸Ð¹ Ð´Ð»Ñ ÑÐ¾ÑÑÐ¸Ð¹ÑÐºÐ¸Ñ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¹ Ð¿Ð¾ ÑÐ²ÐµÐ»Ð¸ÑÐµÐ½Ð¸Ñ Ð¸Ð½Ð´ÐµÐºÑÐ° ÑÑÐ°Ð½ÑÐ¿Ð°ÑÐµÐ½ÑÐ½Ð¾ÑÑÐ¸ Ð¸ Ð´ÑÑÐ³Ð¸Ñ ÑÐºÐ¾Ð½Ð¾Ð¼Ð¸ÑÐµÑÐºÐ¸Ñ ÑÐ°ÐºÑÐ¾ÑÐ¾Ð² Ð´Ð»Ñ Ð¿Ð¾Ð²ÑÑÐµÐ½Ð¸Ñ ÑÑÐ¾Ð¸Ð¼Ð¾ÑÑÐ¸ ÐºÐ¾Ð¼Ð¿Ð°Ð½Ð¸Ð¸.
description: The object of the research is to analyze the influence of the transparency index on the company's value, expressed in three different indicators: market capitalization, MTBV ratio and Tobin's ratio. The main objective of this work will be to identify the positive dependence of the value of a firm on an increase in the transparency index, as well as on other independent indicators, such as the return on assets ratio, financial leverage, company size, government presence in the organization, quotation of the company's shares abroad, and concentration of shares. This study analyzes the transparency index, as well as previous studies on the impact of this coefficient on the value of the firm. The calculation of the transparency index is shown and what criteria it was made on. Also, a regression model was built to identify the relationship between the degree of transparency index and companyâs value. According to the results of the study, it was revealed that the transparency index has a positive effect on the value of the company. The degree of influence of other independent factors listed above on the assessment of the firm's value was also determined. A number of recommendations were made for Russian companies to increase the transparency index and other economic factors to increase the company's value.