Enterprise value management based on the stakeholder approach

The paper studies the effects of information reporting in financial statements on values of Vietnamese firms. The study uses panel data with 1,070 observations from 214 firms, which are listed in the stock market of Vietnam in the period from 2012 to 2016. Multiple regression results show that the growth, firm size, profitability, auditing quality and timelineness are positively related to firm values, whereas the capital structure, auditing explanation negatively affect that indicator. The paper also indicates the inconsistency in measuring firms’ value by different measures including EV, Tobin’s Q or share price. Moreover, the research results reflect that measuring firms’ value by EV is more appropriate. The results of empirical research are instructive for enterprises to improve the usefulness of information in financial statements, thereby enhancing enterprises’ values.

The multidimensionality of transformations that take place, the diversity of destabilizing factors in the environment reduce reliability, sustainability, efficiency of both logistics processes and the entire production and economic activity, and they need their modern economic reflection. The successful activity in the unstable economic environment is impossible without proper strategic analysis and the formation of the effective management system that requires the search for new techniques, the development of logistics-oriented concepts, management approaches to logistics processes that can ensure the goals achievement under the continuous systemic development and disturbance flow. The goal of the research is to improve the technique and develop a management model for logistics processes, considering the effect of the disturbance flow. In accordance with the goal, it is necessary to solve the following scientific problems: to reveal the patterns of logistics processes for the formation of a signal system on management points within the framework of management structures; to develop components of the management technique for logistics processes, taking into account the disturbance flow; to systematize and supplement the principles of logistics processes for the formation of the rational totality of components in the management technique. Thus, the implementation of the proposed management technique for logistics processes will lead to the formation of optimal management impacts within each element, subsystem and the entire structure of the supply chain, ensuring the sustainable development vector at each time period and achieving the goals set under the influence of the disturbance flow, adaptability, flexibility and efficiency of processes.

The pace of digitalization of the insurance industry lags behind similar processes in the banking sector. The main tasks that a Russian insurer solves when using IT technologies are the automation of business operations and the formation of an online system of interaction with customers with the main focus on sales.
The purpose of this study is to systematize the effects achieved by insurance market participants when introducing IT technologies and identify incentives to accelerate the insurance sector digitalization. The goal of digitalization of Russian insurers should be the formation of a client interface with a full cycle of services; the transfer to a qualitatively new level of business processes while ensuring the required level of protection; formation of fundamentally new and timely renewal of the existing insurance products.
The priority areas of IT technologies used by Russian insurers are identified: cloud computing, chat bots, and information resources that provide online interaction with customers. Factors that have a stimulating effect on the digitalization of the insurance sector are identified: cost reduction, acceleration of business processes, improvement of the quality of customer service and increased competitiveness. The problems and risks of insurers that restrain the use of IT technologies are formulated: high costs of digitalization, lack of qualified personnel, cyber risks, moral and ethical problems.