SPECIFICS OF VALUATION OF SECURITIES OF AGRARIAN CORPORATIONS
The article investigates specifics of valuation of agricultural corporations' securities, the influence of factors specific to agriculture on the process of making investment decisions. The relevant to agriculture sector investment risks are specified. The revealed forms of influence of factors on financial reporting, risks - on the choice of evaluation tools. The choice of income approach to the estimation of agrarian corporations is substantiated. The most relevant financial indicators for the estimation of agrarian corporations are identified and their analysis and empirical research on their use are analyzed. A comparative analysis of the EBITDA, Cash Flow was conducted and the corresponding formulas were derived to improve the assessment process in agribusiness. On the basis of the study, a group of indicators was recommended for the relevant horizons of investment in agricultural corporations.
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Keywords: agriculture, land, corporation, profit, investment valuation, financial market, financial risk, EBITDA, Cash Flow, Free Cash Flow. |
CORPORATE FINANCE
Tymur Boiko
postgraduate SHEI «Kyiv National Economic University named after Vadym Hetman»
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