Аnalysis of the influence of value-forming components on machine-building enterprises market capitalization dynamics

Abstract

The article determines the importance of the impact of value-forming components on the dynamics of the market capitalization of Ukrainian machine-building enterprises. The main objective of the conducted research is to implement a scientific and methodological approach to realization of factor analysis of the influence of value-forming components on the dynamics of market capitalization of enterprises. A critical analysis of the content of scientific publications on the researched topic determines expediency of using factor analysis and sensitivity analysis in determining the influence of value-forming components on machine-building enterprises market capitalization dynamics. The relevance of solving the specified problem is due to the importance of determining the set of value components that are considered by the market as the most most valuable for machine-building enterprises from the standpoint of impact on market capitalization in order to identify potential reserves for its increase. The methodological basis is a system of methods used to obtain research results: theoretical generalization – to clarify the content of scientific publications with the aim of forming a scientific and methodological approach to the implementation of a factor analysis of an enterprise market capitalization; factor analysis – to reveal the influence of changes in the value-forming components of the representative machine-building enterprises on the target indicator of their market capitalization; sensitivity analysis – to determine the degree of responsiveness of the market capitalization to changes in the discount rate and the terminal growth rate; logical generalization – to summarize conclusions based on research results. The object of research is the market capitalization of enterprises, formed under the influence of changes in the main components of their value. The article presents the results of evaluating the impact of the value-forming components on the market capitalization dynamics of Ukrainian machine-building enterprises. The results were obtained through the proposed author’s scientific-methodological approach. The analysis and logical generalization of the research results served as the basis for determining the impact of value components on market capitalization dynamics, including the identification of those components that have the most significant impact, such as discount rate and terminal growth rate. The results of the study have practical value for the further development of a system of management solutions for increasing the market capitalization of the enterprise