Abstract
The value of the company is one of the key indicators of the investment attractiveness of the company’s securities and, as a result, an instrument of investment stimulation. In the context of the smart economy, the ways and principles of business entities activity suffer qualitative changes. In particular, financing models are transforming, which confirms the need to study the impact of the digitalization on the country’s investment climate and determines the current importance of this topic.
Analysis of the role of a company’s value indicator in the investment process and assessment of the impact of smart technology development carried out using the digital literacy index, digital consumption, digital competencies, and digital security subindices, affects the company’s value and capitalization performances and consequently the investment process.
The methodological background of the study is general scientific methods such as analysis and synthesis, as well as statistical methods such as correlation and regression analysis. The empirical background of the study includes 36 companies from various sectors in 5 federal districts of the Russian Federation (Central, Northwestern, Southern, Volga, and the Ural).
In the correlation and regression analysis of the impact of digitalization indices (digital literacy, digital consumption, digital competencies, and digital security) on the company’s value and capitalization figures we revealed a close relationship between the knowledge, skills, and abilities of employees in the field of smart-technologies and dependent variables. This allows us to conclude that human capital plays a key role in creating value for shareholders and raising investment efficiency within a digitalized economy.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Alekseenko, V.B., Strel’nikova, I.A.: Investicionnyj process: social’nyj i ekonomicheskij effekty [Investment Process: Social And Economic Effects], Vestnik RUDN. Eng. Res. Ser. 1, 114–116 (2007)
Vserossijskoe issledovanie Regional’noj obshhestvennoj organizacii “Centr Internet-tehnologij” (ROCIT, 2015–2018): Cifrovoj indeks gramotnosti grazhdan Rossii [All-Russian study of the Regional Public Organization “Center for Internet Technologies” (ROCIT, 2015–2018). Digital Literacy Index of Russian citizens]. https://rocit.ru/. Accessed 04 Feb 2020
NAFI analytical center: The level of digital literacy of Russians is growing (2019). https://nafi.ru/analytics/uroven-tsifrovoy-gramotnosti-rossiyan-rastet-en-digital-literacy-of-russians-is-growing-/. Accessed 04 Feb 2020
Brusov, P.N., Filatova, T.V., Orekhova, N.P., Brusov, P.P., Brusova, A.P.: Vliyanie inflyacii na stoimost’ kapitala kompanii i ee kapitalizaciyu [Impact of inflation on the company’s cost of capital and capitalization]. In: Finansy i kredit, vol. 47, no. 527, pp. 7–21 (2012)
Charaeva, M.V.: Issledovanie istochnikov finansirovaniya investicionnoj deyatel’nosti rossijskih organizacij [Study of financing sources of investment activities in Russian organizations]. In: Vestnik RGEU RINH, vol. 3, no. 47, pp. 154–162 (2014)
Dolgikh, Y.A., Stepanova, N.R., Khaynus, I.V.: Prinyatie upravlencheskih reshenij na osnove issledovaniya rynochnyh otklonenij stoimosti akcij kompanij [Making management decisions based on the study of market deviations in the value of company shares]. In: Nauchno-tehnicheskij vestnik Sankt-Peterburgskogo gosudarstvennogo politehnicheskogo universiteta, Ekonomika, vol. 1, no. 139, pp. 227–231 (2012)
Edronova, V.N., Maslakova, D.O.: Finansovye sostavlyayushchie investicionnogo processa v regionah: sushchnost’ i ocenka [Financial components of the investment process in the regions: essence and evaluation]. In: Finansy i Credit, vol. 24, no. 14, pp. 860–876 (2018)
Grishenkov, A.V., Rastegaeva, F.S., Karpunina, E.K.: Investicionnyj process: kategorial’nyj analiz [Investment Process: Categorical Analysis]. Vestnik TGU, no. 2, pp. 80–84 (2008)
Koltunova O.A. Analiz regional’nogo investicionnogo processa [Analysis of the regional investment process]. In: Bulletin of SFU. Technical science, no. 1 (2003). https://cyberleninka.ru/article/n/analiz-regionalnogo-investitsionnogo-protsessa. Accessed 04 Feb 2020
Mili, M., Gharbi, S., Teulon, F.: Business ethics, company value, and ownership structure. J. Manag. Gov. 23, 973–987 (2019)
Ogoev, A.U.: Etapnost’ osushchestvleniya regional’nogo investicionnogo processa [Staging of realization of regional investment process], Vestnik CHGU, 2010, no. 1. https://cyberleninka.ru/article/n/etapnost-osuschestvleniya-regionalnogo-investitsionnogo-protsessa. Accessed 21 Jan 2020
Pohlhausen, T.E.: Simplified valuation model. In: Technology Buyouts, Deutscher Universitätsverlag. Deutscher Universitäts-Verlag GmbH, Wiesbaden (2003)
Popov, E.V., Semyachkov, K.A.: Komparativnyj analiz strategicheskih aspektov razvitiya cifrovoj ekonomiki [Comparative analysis of strategic aspects of development of digital economy]. In: Bulletin of PSU, Economic Series, no. 1, pp. 19–36 (2018)
Saradzheva O.V.: Razrabotka metodiki ocenki rynochnoj kapitalizacii kompanii s uchetom vliyaniya osnovnyh faktorov stoimosti [Development of a technique of an assessment of market capitalization of the company taking into account influence of major factors of cost]. In: Bulletin of the Moscow University of the Ministry of Internal Affairs of Russia, no. 6, pp. 236–241 (2014)
Sharafoddin, S., Emsia, E.: The effect of stock valuation on company management. Procedia Econ. Finance 36, 128–136 (2016)
Trachenko, M.V.: Finansovaya gramotnost’ v epohu finansovogo neofuturizma [Financial literacy in the era of financial neo-futurism]. In: Zhilkina, A.N. (ed.) Finansovyj neofuturizm - 100 let teorii i praktiki upravlenija [Financial neofuturism-100 years of management theory and practice], State University of Management, Moscow, pp. 80–91 (2019)
Author information
Authors and Affiliations
Corresponding author
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 Springer Nature Switzerland AG
About this paper
Cite this paper
Trachenko, M., Volodina, A., Dzhioev, V. (2021). The Value of Corporations in the Investment Process of the Smart Economy. In: Popkova, E.G., Sergi, B.S. (eds) "Smart Technologies" for Society, State and Economy. ISC 2020. Lecture Notes in Networks and Systems, vol 155. Springer, Cham. https://doi.org/10.1007/978-3-030-59126-7_47
Download citation
DOI: https://doi.org/10.1007/978-3-030-59126-7_47
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-59125-0
Online ISBN: 978-3-030-59126-7
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)