CORPORATE VALUE MANAGEMENT OF RUSSIAN COMPANIES UNDER CONDITIONS OF GEOPOLITICAL INSTABILITY

Abstract

In today’s environment, Russian companies face a number of adverse factors, such as increasing geopolitical instability, fragmentation of the global capital market and restricted access to it, high market volatility, and rising borrowing costs. Under these conditions, adapting value management methodologies for domestic companies becomes crucial and is primarily aimed at ensuring their survival. A domestic company’s value management strategy should be based on implementing the Value-Based Management (VBM) concept and maximizing value. Achieving the main objective within a value-oriented strategy is closely linked to optimizing the company’s invested capital structure. The authors examine issues related to adapting value management policies for domestic companies and selecting relevant approaches, methods, financial models, indicators, and multiples in the context of imperfect markets and high turbulence. The article presents calculation results for each stage of the methodology proposed by the authors, based on data from the limited liability company Tatneft-AZS-Zapad LLC. The practical application of the proposed methodology can serve as an effective tool to improve business management efficiency and the quality of managerial decisions aimed at increasing company value.