Abstract

The aim of the article. The aim of the article is to identify the problems and prospects of the application of the enterprises value-based management concept in Ukrainian economic conditions on the basis of the analysis of the target function of value management, indicators and enterprise valuation models. The results of the analysis. It is considered the concept of value-based management of enterprises from the standpoint of its application in Ukraine. The role of market value and market capitalization of enterprises in the formation of target function of value management is defined. There are analyzed possibilities of implementation of value management approach based on maximization of market capitalization of enterprises through determination of the level of its indicative character and controllability in Ukrainian economic conditions. There are given reasons for the use of the target criterion of maximization of the fundamental stakeholder enterprises value in value-based management. There are studied the indicators and models of enterprises value assessment. There are also determined the peculiarities of contemporary models of assessment of enterprise value. There are revealed the problems of the use of the models for the assessment of enterprise value in value-based management under economic conditions of Ukraine. There are given proposals to improve the indicators and models of assessment of enterprise value in Ukrainian environment. Conclusions and directions of further researches. Practical significance of this article lies in justification of the necessity to identify the indicator of the fundamental stakeholder enterprise value for the purpose of value-based management by way of improving the enterprise value assessment models. Prospects for further studies deal with the development of the model to assess the fundamental stakeholder value of enterprises and on its basis to build an effective system of value management at the micro level of Ukrainian economy.

Keywords: enterprise value, enterprise value management, market value of enterprises, market capitalization of enterprises, maximization of fundamental stakeholder value of enterprises, indicators and models of enterprise value assessment

JEL Classification: G30, G32.

Cite as: Davydov, O. (2016). Problems and prospects of the application of the enterprise value-based management concept in Ukraine. Marketing and Management of Innovations, 1, 170-182. https://doi.org/10.21272/mmi.2016.1-15

This work is licensed under a Creative Commons Attribution 4.0 International License

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