Уральский федеральный университет имени первого Президента России Б.Н. Ельцина, Екатеринбург * Ст... more Уральский федеральный университет имени первого Президента России Б.Н. Ельцина, Екатеринбург * Статья предоставлена Информационным центром Издательского дома «ФИНАНСЫ и КРЕДИТ» при Уральском федеральном университете имени первого Президента России Б.Н. Ельцина. 42 (336)-2014 Международный бухгалтерский учет International accounting Проблемы учета Issues on accounting повысить результативность управления рисками, связанными с хозяйственной деятельностью организации. Ключевые слова: сбалансированная система показателей, управление, риск 42 (336)-2014 Международный бухгалтерский учет International accounting Проблемы учета Issues on accounting
Advances in information quality and management, Jul 1, 2024
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
Research background In the conditions of a modern developed market economy, a rather important ch... more Research background In the conditions of a modern developed market economy, a rather important characteristic of the activities of a public company is its activity in the stock market (market activity), which involves the development of a dividend policy, which, on the one hand, should contribute to the achievement of the main goal of financial management - maximizing the material well-being of shareholders, and, on the other hand, take into account the interests of all other stakeholders interested in the activities of a public company (including potential investors) to ensure its sustainable development in the long term. Fulfillment of this requirement is possible only within the framework of a neutral approach to the implementation of the dividend policy of a public company. Purpose The article is devoted to the consideration of the conceptual foundations for analyzing the sensitivity of key indicators of the activity of a public company in the stock market (market activity) to t...
The paper considers conceptual, methodical and practical aspects of the target financial analysis... more The paper considers conceptual, methodical and practical aspects of the target financial analysis at the micro level, i.e., the company level, as a new instrument of anticrisis financial management for a company to overcome its financial difficulties and enhance its financial position within a time-period of practically any length. The methodology of the research, the results being presented in the paper, is based on the concept of the financial ratio analysis, the concept of the company cash flows, and the concept of the Balanced Scorecard (in terms of its financial score). It is depicted that the procedure of the target financial forecasting comprises an appropriate information-accounting support, a target financial forecasting of the company financial position, a target forecasting of the company’s cash flows, a development of the specific events (managements’ decisions) aimed at overcoming the company’s financial difficulties and enhancing its financial position. The author has ...
Research background: In the present-day global economic environment overcoming financial difficul... more Research background: In the present-day global economic environment overcoming financial difficulties and enhance of financial position is an important goal of the anti-crisis financial management of almost any company. This goal is certain to be reached by using target financial forecasting at the company level. Purpose of the article: The paper considers conceptual aspects of the target financial forecasting at the company level, as a new instrument of anticrisis financial management for a company to overcome its financial difficulties and enhance its financial position within a time-period of practically any length. Methods: The methodology of the research, the results being presented in the paper, is based on the concept of the financial ratio analysis, the concept of the company cash flows, and the concept of the balanced scorecard (in terms of its financial score). Findings & Value added: It is depicted that the procedure of the target financial forecasting comprises an approp...
Academy of Accounting and Financial Studies Journal, 2021
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
In the unstable market conditions of today's economic development it is becoming increasingly... more In the unstable market conditions of today's economic development it is becoming increasingly critical to build a well-balanced approach to creating a system of risk management for companies and regions as a whole that constitute a significant environment for economic development. The absence of risk management at companies and in regional governance aggravate the negative impact of risks on the results of economic development both at the microeconomic and mesoeconomic (regional) levels. A search for ways of economic risk prevention at the corporate level can be considered ineffective if the possibility of overcoming typical risks that pose a threat to many companies and emerge on the regional scale is ignored. Regional risks, including economic, environmental and social ones are a complex phenomenon that requires systematic examination by regional governments. In terms of risk emergence and analysis of the risk system of a regional economy, the management of a complex system of...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevant scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
Accepted 21 February, 2013 AbstractThe article treats theoretical aspects of the applied strategi... more Accepted 21 February, 2013 AbstractThe article treats theoretical aspects of the applied strategic analysis (ASA) developed by the author as an instrument of the balanced scorecard (BSC) comprehensive study of the organization economic activity. ASA is assumed as a new, perspective method of both scientific research and practical activity in the field of strategic management. The development is aimed at the improvement of information support as well as at the substantiation of the strategic managerial decisions taken. The ASA concept has resulted from the further development of the BSC concept which defines a set of the analyzed indicators and the analysis sequence.
The balanced scorecard is one of the well-trialled management instruments that are familiar to al... more The balanced scorecard is one of the well-trialled management instruments that are familiar to all market participants in the world. The paper considers theoretical aspects of the applied strategic customer analysis based on the customer element of the balanced scorecard to be applied in the research process of the strategic organization distribution activity aspects and its sales management. The methodology of the research is the balanced scorecard concept as well as the concept of the applied strategic analysis concept having been developed by the author. The applied strategic customer analysis is depicted to encompass comparative assessment, variances diagnostics and indicators forecast of the customer balanced scorecard element within the strategic customer goals. It encompasses analysis of customer profitability level, analysis of products distribution market share, analysis of customer base volume, composition and structure, and analysis of customer demands satisfaction degree. The applied strategic customer analysis results in the ability to be employed for the long-term, medium and short-term management decisions in the field of the organization distribution activity in conditions of the modern world economy. The methodology instruments of the applied strategic customer analysis comprise an aggregate of techniques (ways, methods) to facilitate handling the essential problems of the analysis accomplished and, respectively, its goal reached. The basic methods of the applied strategic customer analysis include techniques of absolute, relative and average values, comparison, grouping, graphics and table methods, correlation-regression analysis, factoring analysis, cluster analysis and expert evaluation methods. The author draws a conclusion that the applied strategic customer analysis is a sufficiently effective instrument to research strategic aspects of the organization distribution activity and to form analytical support for its strategic sales management in a present-day economic environment.
Subject The contemporary market economy has no alternative but to go down an innovation developme... more Subject The contemporary market economy has no alternative but to go down an innovation development path, necessitating the research into the theory, methodology and methods of innovation in management analysis. This facilitates adequate and effective decisions concerning innovation management. Objectives The research reviews a conceptual and methodological framework for integrated management analysis of innovation, which constitutes an absolutely new kind of management analysis revealing the robust information about the innovation-driven performance, untapped resources and opportunities for their mobilization. Methods The methodological framework builds upon a conceptual approach to integrating innovative processes, conceptual basis of business-specific types of management analysis to study innovation, and the Balanced Scorecard concept (namely, its innovation component). Results The integrated management analysis of innovation is showed to comprehensively study the formation of relevant resources, costing, outcome of innovation, and crucial processes relating to consumers and competitors. The set of indicators includes metrics of innovation, investment, competitive and market analysis, which may serve for examining the innovative performance from operational, tactical and strategic perspectives. The integrated management analysis of innovation comprises the assessment, evaluation and estimation of indicators. Conclusions and Relevance The integrated management analysis of innovation is a fairly effective tool to supply the managing process with necessary information since it views innovation as a single construct.
The paper treats the practical and theoretical aspects of the applied strategic analysis develope... more The paper treats the practical and theoretical aspects of the applied strategic analysis developed by the author and utilized by an organization in the process of its strategic after-sales service aspects research; the after-sales service score being based on the score of the same name of the balanced scorecard. The methodology of the research consists of the concept of the balanced scorecard by Kaplan and Norton and the concept of the applied strategic analysis developed by the author. The applied strategic after-sales service analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard after-sales service score value within the organization's strategic goals. The results can be applied for long-, middle-and short-term managerial decisions development in the field of the after-sales service organization activity. The conclusion is drawn that the applied strategic after-sales service analysis is a new and sufficiently effective tool to research strategic aspects of the organization after-sales service activity and to form an analytical support for the strategic after-sales service management in the present-day economic environment.
The article treats a new methodological approach to the company cash flows target-oriented foreca... more The article treats a new methodological approach to the company cash flows target-oriented forecasting based on its financial position analysis. The approach is featured to be universal and presumes application of the following techniques developed by the author: financial ratio values correction techniques and correcting cash flows techniques. The financial ratio values correction technique assumes to analyze and forecast company financial position while the correcting cash flows technique is related to company cash inflows and outflows forecast enabling to improve its financial position. Basing on computation results one can put forward proposals to establish target-oriented company financial strategy with a view to improve its financial position.
The paper treats practical and theoretical aspects of the applied strategic analysis having been ... more The paper treats practical and theoretical aspects of the applied strategic analysis having been developed by the author utilized by an organization in the process of its strategic after-sales service aspects research, the aftersales service score, basing on the score of the same name of the balanced scorecard. The methodology of the research consists of the concept of the balanced scorecard by Kaplan R. S., and Norton D. P. and the concept of the applied strategic analysis developed by the author. The applied strategic after-sales service analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard after-sales service score value within the organization strategic goals. The analysis comprises the speed of billing, payment for the goods sold, arbitrations settlement as well as analysis of due updating of the goods delivered, speed of warranty and repair excellence, and speed of poor quality goods replacement (in case of the delivery). The applied strategic after-sales service analysis commences with the comparative assessment of the outcome indicators values for the speed of billing, payment for the goods sold, arbitrations settlement and is completed with the forecast of the factoring indicators values of speed of poor quality goods replacement (in case of the delivery). The results can be applied for long-, middle-and short-term managerial decisions development in the field of the after-sales service organization activity. The methodical instruments of the applied strategic aftersales service analysis includes methods of absolute, relative and average values, comparison, grouping, graphical and table methods, correlation-regression analysis, factoring analysis, cluster analysis, as well as expert evaluation method. The conclusion is drawn that the applied strategic after-sales service analysis is a new and sufficiently effective tool to research strategic aspects of the organization after-sales service activity and to form an analytical support for the strategic after-sales service management in the present-day economic environment.
Уральский федеральный университет имени первого Президента России Б.Н. Ельцина, Екатеринбург * Ст... more Уральский федеральный университет имени первого Президента России Б.Н. Ельцина, Екатеринбург * Статья предоставлена Информационным центром Издательского дома «ФИНАНСЫ и КРЕДИТ» при Уральском федеральном университете имени первого Президента России Б.Н. Ельцина. 42 (336)-2014 Международный бухгалтерский учет International accounting Проблемы учета Issues on accounting повысить результативность управления рисками, связанными с хозяйственной деятельностью организации. Ключевые слова: сбалансированная система показателей, управление, риск 42 (336)-2014 Международный бухгалтерский учет International accounting Проблемы учета Issues on accounting
Advances in information quality and management, Jul 1, 2024
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
Research background In the conditions of a modern developed market economy, a rather important ch... more Research background In the conditions of a modern developed market economy, a rather important characteristic of the activities of a public company is its activity in the stock market (market activity), which involves the development of a dividend policy, which, on the one hand, should contribute to the achievement of the main goal of financial management - maximizing the material well-being of shareholders, and, on the other hand, take into account the interests of all other stakeholders interested in the activities of a public company (including potential investors) to ensure its sustainable development in the long term. Fulfillment of this requirement is possible only within the framework of a neutral approach to the implementation of the dividend policy of a public company. Purpose The article is devoted to the consideration of the conceptual foundations for analyzing the sensitivity of key indicators of the activity of a public company in the stock market (market activity) to t...
The paper considers conceptual, methodical and practical aspects of the target financial analysis... more The paper considers conceptual, methodical and practical aspects of the target financial analysis at the micro level, i.e., the company level, as a new instrument of anticrisis financial management for a company to overcome its financial difficulties and enhance its financial position within a time-period of practically any length. The methodology of the research, the results being presented in the paper, is based on the concept of the financial ratio analysis, the concept of the company cash flows, and the concept of the Balanced Scorecard (in terms of its financial score). It is depicted that the procedure of the target financial forecasting comprises an appropriate information-accounting support, a target financial forecasting of the company financial position, a target forecasting of the company’s cash flows, a development of the specific events (managements’ decisions) aimed at overcoming the company’s financial difficulties and enhancing its financial position. The author has ...
Research background: In the present-day global economic environment overcoming financial difficul... more Research background: In the present-day global economic environment overcoming financial difficulties and enhance of financial position is an important goal of the anti-crisis financial management of almost any company. This goal is certain to be reached by using target financial forecasting at the company level. Purpose of the article: The paper considers conceptual aspects of the target financial forecasting at the company level, as a new instrument of anticrisis financial management for a company to overcome its financial difficulties and enhance its financial position within a time-period of practically any length. Methods: The methodology of the research, the results being presented in the paper, is based on the concept of the financial ratio analysis, the concept of the company cash flows, and the concept of the balanced scorecard (in terms of its financial score). Findings & Value added: It is depicted that the procedure of the target financial forecasting comprises an approp...
Academy of Accounting and Financial Studies Journal, 2021
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
In the unstable market conditions of today's economic development it is becoming increasingly... more In the unstable market conditions of today's economic development it is becoming increasingly critical to build a well-balanced approach to creating a system of risk management for companies and regions as a whole that constitute a significant environment for economic development. The absence of risk management at companies and in regional governance aggravate the negative impact of risks on the results of economic development both at the microeconomic and mesoeconomic (regional) levels. A search for ways of economic risk prevention at the corporate level can be considered ineffective if the possibility of overcoming typical risks that pose a threat to many companies and emerge on the regional scale is ignored. Regional risks, including economic, environmental and social ones are a complex phenomenon that requires systematic examination by regional governments. In terms of risk emergence and analysis of the risk system of a regional economy, the management of a complex system of...
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevant scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the a...
Accepted 21 February, 2013 AbstractThe article treats theoretical aspects of the applied strategi... more Accepted 21 February, 2013 AbstractThe article treats theoretical aspects of the applied strategic analysis (ASA) developed by the author as an instrument of the balanced scorecard (BSC) comprehensive study of the organization economic activity. ASA is assumed as a new, perspective method of both scientific research and practical activity in the field of strategic management. The development is aimed at the improvement of information support as well as at the substantiation of the strategic managerial decisions taken. The ASA concept has resulted from the further development of the BSC concept which defines a set of the analyzed indicators and the analysis sequence.
The balanced scorecard is one of the well-trialled management instruments that are familiar to al... more The balanced scorecard is one of the well-trialled management instruments that are familiar to all market participants in the world. The paper considers theoretical aspects of the applied strategic customer analysis based on the customer element of the balanced scorecard to be applied in the research process of the strategic organization distribution activity aspects and its sales management. The methodology of the research is the balanced scorecard concept as well as the concept of the applied strategic analysis concept having been developed by the author. The applied strategic customer analysis is depicted to encompass comparative assessment, variances diagnostics and indicators forecast of the customer balanced scorecard element within the strategic customer goals. It encompasses analysis of customer profitability level, analysis of products distribution market share, analysis of customer base volume, composition and structure, and analysis of customer demands satisfaction degree. The applied strategic customer analysis results in the ability to be employed for the long-term, medium and short-term management decisions in the field of the organization distribution activity in conditions of the modern world economy. The methodology instruments of the applied strategic customer analysis comprise an aggregate of techniques (ways, methods) to facilitate handling the essential problems of the analysis accomplished and, respectively, its goal reached. The basic methods of the applied strategic customer analysis include techniques of absolute, relative and average values, comparison, grouping, graphics and table methods, correlation-regression analysis, factoring analysis, cluster analysis and expert evaluation methods. The author draws a conclusion that the applied strategic customer analysis is a sufficiently effective instrument to research strategic aspects of the organization distribution activity and to form analytical support for its strategic sales management in a present-day economic environment.
Subject The contemporary market economy has no alternative but to go down an innovation developme... more Subject The contemporary market economy has no alternative but to go down an innovation development path, necessitating the research into the theory, methodology and methods of innovation in management analysis. This facilitates adequate and effective decisions concerning innovation management. Objectives The research reviews a conceptual and methodological framework for integrated management analysis of innovation, which constitutes an absolutely new kind of management analysis revealing the robust information about the innovation-driven performance, untapped resources and opportunities for their mobilization. Methods The methodological framework builds upon a conceptual approach to integrating innovative processes, conceptual basis of business-specific types of management analysis to study innovation, and the Balanced Scorecard concept (namely, its innovation component). Results The integrated management analysis of innovation is showed to comprehensively study the formation of relevant resources, costing, outcome of innovation, and crucial processes relating to consumers and competitors. The set of indicators includes metrics of innovation, investment, competitive and market analysis, which may serve for examining the innovative performance from operational, tactical and strategic perspectives. The integrated management analysis of innovation comprises the assessment, evaluation and estimation of indicators. Conclusions and Relevance The integrated management analysis of innovation is a fairly effective tool to supply the managing process with necessary information since it views innovation as a single construct.
The paper treats the practical and theoretical aspects of the applied strategic analysis develope... more The paper treats the practical and theoretical aspects of the applied strategic analysis developed by the author and utilized by an organization in the process of its strategic after-sales service aspects research; the after-sales service score being based on the score of the same name of the balanced scorecard. The methodology of the research consists of the concept of the balanced scorecard by Kaplan and Norton and the concept of the applied strategic analysis developed by the author. The applied strategic after-sales service analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard after-sales service score value within the organization's strategic goals. The results can be applied for long-, middle-and short-term managerial decisions development in the field of the after-sales service organization activity. The conclusion is drawn that the applied strategic after-sales service analysis is a new and sufficiently effective tool to research strategic aspects of the organization after-sales service activity and to form an analytical support for the strategic after-sales service management in the present-day economic environment.
The article treats a new methodological approach to the company cash flows target-oriented foreca... more The article treats a new methodological approach to the company cash flows target-oriented forecasting based on its financial position analysis. The approach is featured to be universal and presumes application of the following techniques developed by the author: financial ratio values correction techniques and correcting cash flows techniques. The financial ratio values correction technique assumes to analyze and forecast company financial position while the correcting cash flows technique is related to company cash inflows and outflows forecast enabling to improve its financial position. Basing on computation results one can put forward proposals to establish target-oriented company financial strategy with a view to improve its financial position.
The paper treats practical and theoretical aspects of the applied strategic analysis having been ... more The paper treats practical and theoretical aspects of the applied strategic analysis having been developed by the author utilized by an organization in the process of its strategic after-sales service aspects research, the aftersales service score, basing on the score of the same name of the balanced scorecard. The methodology of the research consists of the concept of the balanced scorecard by Kaplan R. S., and Norton D. P. and the concept of the applied strategic analysis developed by the author. The applied strategic after-sales service analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard after-sales service score value within the organization strategic goals. The analysis comprises the speed of billing, payment for the goods sold, arbitrations settlement as well as analysis of due updating of the goods delivered, speed of warranty and repair excellence, and speed of poor quality goods replacement (in case of the delivery). The applied strategic after-sales service analysis commences with the comparative assessment of the outcome indicators values for the speed of billing, payment for the goods sold, arbitrations settlement and is completed with the forecast of the factoring indicators values of speed of poor quality goods replacement (in case of the delivery). The results can be applied for long-, middle-and short-term managerial decisions development in the field of the after-sales service organization activity. The methodical instruments of the applied strategic aftersales service analysis includes methods of absolute, relative and average values, comparison, grouping, graphical and table methods, correlation-regression analysis, factoring analysis, cluster analysis, as well as expert evaluation method. The conclusion is drawn that the applied strategic after-sales service analysis is a new and sufficiently effective tool to research strategic aspects of the organization after-sales service activity and to form an analytical support for the strategic after-sales service management in the present-day economic environment.
The article is generally theoretical in nature and is devoted to the consideration of the possibi... more The article is generally theoretical in nature and is devoted to the consideration of the possibility of using the applied strategic analysis of personnel training and development developed by its author, based on the balanced scorecard component of the same name, in the process of studying the strategic aspects of training and development of the organization's
The article deals with the author's approach to the analysis of corporate financial statements as... more The article deals with the author's approach to the analysis of corporate financial statements as a tool of financial management in modern conditions, which is based on the concept of compromise between risk and profitability, is characterized by universality and relative simplicity, involving the use of well-known financial ratios. It is shown that the analysis of corporate financial statements should include the calculation and analysis of financial ratios of risk and profitability according to its actual performance, evaluation of their relationship, adjusting the values of financial risk and profitability (if necessary), forecasting indicators of corporate financial statements, determining their absolute deviations from actual values and developing decisions on financial management of the enterprise based on these deviations. A special emphasis in the article is placed on the focus of the author's approach to the analysis of corporate financial statements as a tool of financial management to ensure an acceptable ratio of risk and profitability associated with the activities of the enterprise.
Research background-Learning and growth is one of the essential tools that companies ought to use... more Research background-Learning and growth is one of the essential tools that companies ought to use in today's market economy in order to ensure their sustainable development in the long-term and, consequently, to achieve their maximum market value. Purpose-This article is predominantly of theoretical nature and considers the possibility of using the applied strategic analysis technique that was developed by the author to analyze learning and growth in the course of a study of strategic aspects of learning and growth. The
The article treats a concept of the formalized modeling of the dividend policy scores and company... more The article treats a concept of the formalized modeling of the dividend policy scores and company marketing performance scores derived (stock market position) within neutral dividend policy implementation approach conditions as an instrument of the scores analysis and forecasting. The methodology of the research consists of the Dividend Irrelevance theory, Dividend Policy Significance theory and sustainable company development concept. It has been stated that a formalized approach of the dividend policy implementation presumes a construction of the basic relevent scores models characterizing the company dividend policy and its marketing performance as Dividend Payout, Dividend Cover, expected Share Price, Dividend Yield, Price / Earnings Ratio (common stock price/earnings ratio). The formalized models of the scores mentioned are applicable for a forecast-analytical scores evaluation and their variances as well by estimating an impact of the models defining factors exercised by the appropriate factoring analysis method within the neutral dividend policy implementation approach conditions. The conclusion is drawn, that the formalized models of the dividend policy scores and company marketing performance scores derived, having been developed, are an effective instrument for their forecasting and analysis so that proactive decisions to manage the company dividend policy implementation within neutral approach conditions are ensured.
The paper treats practical and theoretical aspects of the applied strategic analysis having been ... more The paper treats practical and theoretical aspects of the applied strategic analysis having been developed by the author utilized by an organization in the process of its strategic after-sales service aspects research, the after-sales service score, basing on the score of the same name of the balanced scorecard. The methodology of the research consists of the concept of the balanced scorecard by Kaplan R. S., and Norton D. P. and the concept of the applied strategic analysis developed by the author. The applied strategic after-sales service analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard after-sales service score value within the organization strategic goals. The analysis comprises the speed of billing, payment for the goods sold, arbitrations settlement as well as analysis of due updating of the goods delivered, speed of warranty and repair excellence, and speed of poor quality goods replacement (in case of the delivery). The applied strategic after-sales service analysis commences with the comparative assessment of the outcome indicators values for the speed of billing, payment for the goods sold, arbitrations settlement and is completed with the forecast of the factoring indicators values of speed of poor quality goods replacement (in case of the delivery). The results can be applied for long-, middle-and short-term managerial decisions development in the field of the after-sales service organization activity. The methodical instruments of the applied strategic after-sales service analysis includes methods of absolute, relative and average values, comparison, grouping, graphical and table methods, correlation-regression analysis, factoring analysis, cluster analysis, as well as expert evaluation method. The conclusion is drawn that the applied strategic after-sales service analysis is a new and sufficiently effective tool to research strategic aspects of the organization after-sales service activity and to form an analytical support for the strategic after-sales service management in the present-day economic environment.
The paper considers conceptual, methodical and practical aspects of the target financial analysis... more The paper considers conceptual, methodical and practical aspects of the target financial analysis at the micro level, i.e., the company level, as a new instrument of anticrisis financial management for a company to overcome its financial difficulties and enhance its financial position within a time-period of practically any length. The methodology of the research, the results being presented in the paper, is based on the concept of the financial ratio analysis, the concept of the company cash flows, and the concept of the Balanced Scorecard (in terms of its financial score). It is depicted that the procedure of the target financial forecasting comprises an appropriate information-accounting support, a target financial forecasting of the company financial position, a target forecasting of the company's cash flows, a development of the specific events (managements' decisions) aimed at overcoming the company's financial difficulties and enhancing its financial position. The author has stated that in the present-day environment the target financial forecasting is an effective instrument of the financial forecasting that enables to set up the base for overcoming the company's financial difficulties and strengthening its financial position. The major fields of the target financial forecasting application are an anticrisis bankrupt company management, a management of the company at the verge of its bankruptcy, as well as a company's investment appeal enhancement (in terms of its financial aspect).
The article is dedicated to the problem of improving information and analytical support of innova... more The article is dedicated to the problem of improving information and analytical support of innovation management. For that, the author proposes a conceptual and methodological framework of integrated management analysis of innovation which constitutes an absolutely new kind of management analysis aimed at providing the company's management and owners with full, accurate and quality information about the effectiveness of its operation on the principles of innovation, about untapped resources and opportunities for their mobilization. The methodological framework of the research builds upon a conceptual approach to the integration of the processes of innovation, the conceptual basis of business-specific kinds of management analysis used for studying innovation, and the concept of the Balanced Scorecard (namely, its innovation component). The article shows that integrated management analysis of innovation implies an overall study of the entire set of processes of formation of relevant resources, costs and results obtained in the course of innovation as well as the most important processes taking place on the consumer market and among the company's competitors. Its system of indicators includes the indicators of innovation, investment, competitive and market analysis which may be used for the study of innovation performance in its operational, tactical and strategic aspects. The procedure of integrated management analysis of innovation includes the assessment, diagnostics and forecast of the values of its indicators. The obtained analytical results may be used not only
As the modern world economy is becoming increasingly globalized, its development requires the uti... more As the modern world economy is becoming increasingly globalized, its development requires the utilization of well-trialled management instruments that are familiar to all market participants It is fair to say that today International Financial Reporting Standards (IFRS) are the most important globalization tool in the field of accounting and financial reporting. Preparing financial statements under IFRS make them more "transparent" and suitable for analysis by potential foreign lenders and investors who can provide the company with the capital it needs for further development. This adds to the already strong scientific and practical interest in improving the conceptual and methodological framework of analysis of financial statements prepared under IFRS. The improvements should increase the information value of the analysis results that gives a more accurate idea of the company's financial performance and financial standing, thus enabling interested users of analytical financial information (potential lenders and investors in the first place) to make management decisions. To solve the above problem, the author systematizes international and Russian practices and propose an original conceptual approach to analyzing financial statements prepared under IFRS that considerably improves the results of such analysis as regards the financial performance and financial position of companies. The approach proposes breaking down the analysis procedure into four consecutive stages: preparatory stage, interpretation, calculations and analysis, and forecasting.
The paper treats theoretical aspects of the applied strategic operational analysis based on the b... more The paper treats theoretical aspects of the applied strategic operational analysis based on the balanced scorecard operational element developed by the author and its likely application to research strategic organization operational activity aspects. The methodology of the research is the balanced scorecard concept of Kaplan R.S., and Norton D.P. as well as the author's applied strategic analysis concept. The applied strategic operational analysis is assumed to encompass comparative assessment, variances diagnostics and forecast of the balanced scorecard operational element within the strategic operational goals. Due goods delivery, manufacturing cost and products quality compliance with customer's demand are to be analyzed. The applied strategic operational analysis commences from the comparative assessment of the outcome due goods delivery indicators and is completed with the forecast of the products quality compliance with customers' demand indicators. The results can be applied for long-, middle-and short-term managerial decisions development in the field of an operational organization activity. The applied strategic operational analysis technique comprises methods of absolute, relative and average values, comparison, grouping, graphical and table methods, correlation-regression analysis, factoring analysis, cluster analysis, as well as expert evaluation method. The conclusion is drawn that the applied strategic operational analysis is a new and sufficiently effective tool to research strategic aspects of the organization operational activity and to form an analytical support for the strategic operational management in the present-day economic environment.
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Papers by Sergey Krylov