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REDUCING THE RISKS OF THE INVESTMENT ACTIVITIES OF INDUSTRIAL ENTERPRISES ON THE BASIS OF THE METHOD OF REAL OPTIONS

https://doi.org/10.17073/2072-1633-2012-1-17-21

Abstract

In the article it is proved that in the conditions of an unstable financial and economic situation real options method is the major tool for increasing economic efficiency of investment projects and preventions of the crisis phenomena for the industrial enterprises. The way of adaptation of a real options method to conditions of anti-recessionary development by calculation of discount rates for each project behavior under the offered formulas is offered in this article. The research the results of which are presented in the article, is executed for JSC «Magnitogorsk Iron and Steel Works».

About the Authors

A. A. Boukreeva
Магнитогорский металлургический комбинат
Russian Federation


N. A. Kharitonova
Финансовый университет при Правительстве Российской Федерации, Москва


References

1. Лимитовский М.А. Инвестиционные проекты и реальные опционы на развивающихся рынках: Учеб.-практ. пособие. – М.: Дело, 2004. – 528 с.

2. Волков И.М., Грачева М.В. Проектный анализ: продвинутый курс: Учеб. пособие. – М. : ИНФРА-М, 2004. – 495 с.

3. Брусланова Н. Оценка инвестиционных проектов методом реальных опционов // Финансовый директор. 2004. № 4. С. 3 – 10.

4. Бирман Г., Шмидт С. Экономический анализ инвестиционных проектов / Пер. с англ. под ред. Л.П. Белых. – М.: Банки и биржи, ЮНИТИ, 1997. – 631 с.


Review

For citations:


Boukreeva A.A., Kharitonova N.A. REDUCING THE RISKS OF THE INVESTMENT ACTIVITIES OF INDUSTRIAL ENTERPRISES ON THE BASIS OF THE METHOD OF REAL OPTIONS. Russian Journal of Industrial Economics. 2012;(1):17-21. https://doi.org/10.17073/2072-1633-2012-1-17-21

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ISSN 2072-1633 (Print)
ISSN 2413-662X (Online)