| Autor: |
Maximov, Sergey I., Rusinov, Dmitriy A., Bondar, Vladislav M. |
| Předmět: |
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| Zdroj: |
International Journal of COMADEM; Apr2023, Vol. 26 Issue 2, p55-58, 4p |
| Abstrakt: |
The NLMK company, located in the Lipetsk region, is one of the largest metallurgical plants in Russia, as well as a city-forming enterprise. Estimation of the future share price is performed in the work. The valuation of NLMK is of particular interest due to its unusual risk management policy and high environmental spending compared to its closest competitors. This is why the goal of this work is to evaluate the company's share price with paying close attention to these large environmental and social spending. In the article, environmental and social expenditure assessment was done. This is essential for applicability of the work since if the company does not have substantial environmental and social spending, it will be wrong to use the chosen method. The authors of the article tried to include these factors in the valuation model by using innovative valuation methods and modification of the classical DCF model. The results of the valuation showed that the company's shares, at the time of this writing, are undervalued. The theoretical business value and capitalization were also found to be higher than empirical ones. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Supplemental Index |
| Externí odkaz: |
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