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Finance and Credit

Problems of assessing the formation of sustainable development of economic entities

Vol. 29, Iss. 8, AUGUST 2023

Received: 16 May 2023

Received in revised form: 30 May 2023

Accepted: 13 June 2023

Available online: 30 August 2023

Subject Heading: BUSINESS VALUE

JEL Classification: G17, O12

Pages: 18731897


Darya M. KORSHUNOVA Tula State University (TulSU), Tula, Russian Federation

ORCID id: not available

Subject. The article addresses the specificity of economic entities sustainable development of Russia.
Objectives. The focus is on identification of problems in assessing the formation of sustainable development, substantiation of the need to develop a methodology to determine the sustainability of development.
Methods. The study rests on general scientific methods, like scientific abstraction, analysis and synthesis, approaches to determining the impact of behavioral aspects of decision-makers on management decisions when assessing the effectiveness of economic entities development.
Results. The paper underpins the expediency of using the market value of an enterprise to determine the influence of internal and external factors on the efficiency of socio-economic and environmental development; establishes the dependence of such development on industry affiliation; states that the assessment of results of economic entities development should consider their value, and the value management should be aimed at company growth. It is important to consider the discontinuity of market development and the continuity of enterprise development, and the principle of decomposition of company value into the cost of growth prospects and the cost of flow of its benefits. The expansion of tools for strategic financial assessment of sustainable development based on the use of indicators of dynamic abilities and difficult-to-simulate resources is crucial.
Conclusions. Factors influencing the choice of sustainable development strategy at the micro level should be supplemented by factors characterizing behavioral motives. I offer a methodological approach enabling to improve the financial assessment of sustainable development based on identification of relationship between dynamic abilities and the market value of the analyzed economic entity.

Keywords: market value, sustainability, behavioral motives, ecology, difficult-to-simulate resources


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