Comparative Efficiency Analysis of Capital Structure Management in the Russian and Foreign Companies
Keywords:
capital management, capital structure, optimum structure, financial management, corporate financeAbstract
In the article the features of domestic and foreign companies in the field of formation of capital structure are considered. The points of view of various scientists concerning approaches to formation and estimation of efficiency of capital structure are investigated. In the work it is noted, that achievement of strategic targets of the company activity is possible on the basis of achievement and maintenance of the optimum capital structure which is understood as a correlation of equity and loan capital involved to realize the enterprise activity and to guarantee the demanded level of profitability and financial stability. There is no certain correlation between various elements of capital in theory and practice of corporate finance, there are only recommended values. The direction of work of a financial manager is revealing of the structure peculiar only to the given company which would maximize the activity results and provide the desirable level of financial stability. In the article the results of the analysis of the actual capital structure carried out on the materials of financial reporting of domestic and foreign companies are presented. In the work such methods of research, as financial analysis, comparison and marketing survey are used. The object of the research is the companies of real economy sector. The subject of the research is corporate finance. The practical importance of the results of the research is in the fact that conclusions about the formation features of the capital structure of domestic and foreign business can be used by the managing subjects in the work of financial managers to increase the efficiency of the company activity.Downloads
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