3.7. о прогнозировании изменения цены бизнеса на основе

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. 105-108.
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3.7. ABOUT THE
PROGNOSTICATION OF
BUSINESS PRICE ON THE BASE
OF MIXED DISCRETECONTINUOUS NON-STATIONARY
PROCESS
A.I. Lesik, Doctor of Science, Assistant
Professor of Mathematical Statistics and System
Analysis Department;
A.G. Perevozchikov, Doctor of Economics,
Professor of the Economics Department
Tver Institute of Ecology and Law
The task of calculating the prognostication of business
sale value within the framework of income approach is regarded. Earlier we regarded the prognostication method of
business sale value based on non-stationary model of
Brown’s process of share price change. Brown’s process
is a unique example of the continuous Winner’s independent increments. Thus, it would be interesting to consider
.,
.
the discrete processes which meet the needs of increments independence but they are only piecewise continuous functions. The example of such process is given by
Poison’s process which was regarded in our previous
work. Eventually, the idea of the same distribution combining the Winner’s and Poison’s processes occurred. Such
prognostication model is given in this work.
Literature
1. Valuation of Business: A Manual. Edited by A.G.Gryaznova,
M.A. Fedotova – M.: Finance and Statistics. 2002.
2. Methodology and Manual on Conducting Valuation of Business
and Assets of Public Limited Company «United Energy Systems
of Russia». Deloitte & Touche. Dec.2003-March 2005.
3. O.U. Baturina, U.M. Basaganov, A.G. Perevozchikov. The
Prognostication of the Net Operational Income from the Real
Estate Rent Depending on its Expected Cost Exchange. Financial Analytics. 2007, 5, p. 42-46.
4. A.G.Perevozchikov, A.I. Lesik. About the Prognostication of
Business Value Change within the Framework of Additive
Jumps Model on the Base of Brown’s Process. Audit and Financial Analysis. 2011, 3, p. 200-203.
5. A.G.Perevozchikov, A.I. Lesik. About the Additive Form of
Recurrent
6. Equation for Cash Flow Discounting. . Audit and Financial
Analysis. 2010, 4, p. 105-108.
7. A.G. Perevozchikov. About the Prognostication of Business
Value Change within the Framework of Additive Jumps Model
on the Base of Brown’s Process. Audit and Financial Analysis. 2011, 3, p. 200-203.
Keywords
Real estate evaluation; income approach; income discounting method; business sale value; discount rate; invested capital; equity; revenue; cash flow; cash flow
change rate.
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