The purpose of this research is revelation of mechanisms of emerging crisis, turbulent events in markets, with singling out the advantageous stable phase, turbulent phase and non-advantageous stable phase.The idea of this work was to research impact of change of assets market parameters in the...

When forming an investment portfolio two effect occur affecting its non-systematic risk. The first of them (diversification) is well studied, but the second one (inequality of specific risk of the portfolios components) remains at the periphery. In (Limitovsky and Minasyan 2009, 2010) it is...

In the original model constructed relations between the state and subsidized by them company, taking into account the level of subsidy, the value of the effort further by the company, as well as the possibility of an additional influence of the state on the resulting company cash flows. Assess...

The paper addresses a basic model of moral hazard (risk) (Gibbons, 2010, Gibbons, 2005) and suggests some of its modifications. In the basic model of moral risk, questions are put and examined that have not been considered in the previous researches. In particular, it is proved that the level of...

The theory of cost of capital (long-term) assets [Sharpe, 1964, Lintner, 1965, Mossin, 1966] based on G. Markovits's model [Markovitz, 1952,1059], for many years forms base for estimated calculations in the investment analysis and corporate finance. But it implicitly means an assumption that the...

When forming an investment portfolio there are two effects influencing its not systematic risk. And if the first of them – diversification – is well studied, the second – an inequality of specific risk of components of a portfolio – remained on the periphery. In works and by the...

How it is correct to estimate the capital and its market structure for separate projects and the companies in general? In work the iterative method of an assessment of reasonable structure of the capital offered in [4] is investigated and convergence of this method for very wide range of the...

Determination of structure and correct calculation of a company's capital value is an essential; theoretical and practical problem for corporate finance. The proportion between the company's equity and borrowed capital determines the risk and profitability of the company and, consequently, the...

When drafting a contract, it is often impossible for the parties to consider and specify in the contract all kinds of unforeseen circumstances. In particular, the parties may not be able to provide a detailed description of the global situation so that the outsiders (courts) could later verify...