Subject. This article examines the financial statements of companies in the focus of investment valuation as an effective mechanism for reducing risks in the context of global economic uncertainty. Objectives. The study aims to conduct an investment assessment of "young" companies that went public and entered the stock market after 2020 in the midst of the global pandemic. Methods. For the study, we used a systems approach, analysis, comprehensive investment assessment, and the table method. Results. The article presents the results of the investment evaluation of three companies that attracted the most interest among investors during the global pandemic, namely, Krafton Inc., Xpeng, and Airbnb Inc. Conclusions. Investment valuation of assets helps develop a competent investment strategy that can bring income in the future. In present-day developments, many investors pay more attention to some non-price indicators. However, if building a long-term investment strategy, one should rely on more objective indicators, for example, analysis of financial statements, ratio analysis, and investment evaluation.
Keywords: financial data reporting, investment valuation, economic uncertainty, Initial Public Offering
References:
Cui Z., Kirkby J.L., Nguyen D. A Data-Driven Framework for Consistent Financial Valuation and Risk Measurement. European Journal of Operational Research, 2021, vol. 289, iss. 1, pp. 381–398. URL: Link
Starovaya Yu.A. [Features of the investment valuation mechanism in the context of global economic uncertainty]. Auditor, 2021, vol. 7, no. 9, pp. 45–49. (In Russ.) URL: Link
Sukhareva E.V. [Methods for evaluating the value of assets of a generating company]. Finansovyi biznes, 2022, no. 1, pp. 66–69. (In Russ.)
Baig A.S., Chen M. Did the COVID-19 Pandemic (Really) Positively Impact the IPO Market? An Analysis of Information Uncertainty. Finance Research Letters, 2021, vol. 46, part B, 102372. URL: Link
Singh B., Dhall R., Narang S., Rawat S. The Outbreak of COVID-19 and Stock Market Responses: An Event Study and Panel Data Analysis for G-20 Countries. Global Business Review, 2020, no. 17, pp. 1–26. URL: Link
Kotlar J., Signori A., De Massis A., Vismara S. Financial Wealth, Socioemotional Wealth, and IPO Underpricing in Family Firms: A Two-stage Gamble Model. The Academy of Management Journal, 2018, vol. 61, no. 3, pp. 1073–1099. URL: Link
Vakhromeeva M.P. [Investment activity in Russia in 2020–2022]. Nauka Krasnoyar'ya = Krasnoyarsk Science, 2022, vol. 11, no. 3-3, pp. 12–17. (In Russ.)
Druzhilovskaya T.Yu., Druzhilovskaya E.S. [Improvement of the statement of financial results as an information base for strategic decision making]. Uchet. Analiz. Audit = Accounting. Analysis. Auditing, 2021, vol. 8, no. 4, pp. 69–79. (In Russ.) URL: Link
Uzdenova M.A., Gazieva L.R. [Assessment of the investment attractiveness of an enterprise using indicators of financial (accounting) reports]. Estestvenno-gumanitarnye issledovaniya = Natural and Humanitarian Studies, 2021, no. 35, pp. 316–319. URL: Link (In Russ.)
Efimova O.V., Rozhnova O.V. [Analytical capacity of financial statements against the backdrop of the COVID-19 pandemic]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2020, vol. 19, iss. 10, pp. 1794–1821. (In Russ.) URL: Link
Shageev D.A. [Increasing the efficiency of industrial enterprise investment projects through cash flow management]. Vestnik Moskovskogo universiteta. Seriya 6: Ekonomika = Moscow University Economics Bulletin, 2017, no. 2, pp. 90–106. URL: Link (In Russ.)
Efimova O.V. [Formation of information on cash flows for the purpose of investment decisions]. Vestnik Voronezhskogo gosudarstvennogo universiteta. Seriya: Ekonomika i upravlenie = Proceedings of Voronezh State University. Series: Economics and Management, 2020, no. 2, pp. 116–130. (In Russ.) URL: Link
Laktyushina A.P., Shcherbachenko P.S. [Role of “ethical investments” in increasing the level of investment attractiveness of corporations: Russian and foreign experience]. Vestnik Universiteta, 2022, no. 5, pp. 186–192. (In Russ.) URL: Link
Voronova E., Lukina Yu. Chapter 8. Investment Attractiveness of “Young” Companies in the Context of Global Changes Associated with the New Industrial Revolution. In: E.G. Popkova (ed.) Digital Technologies for Entrepreneurship in Industry 4.0. Hershey, PA, IGI Global, 2022, pp. 156–175. URL: Link
Efimova O.V., Rozhnova O.V. [The informational component of corporate social responsibility assessment: Results of empirical research]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2021, vol. 20, iss. 11, pp. 2089–2112. (In Russ.) URL: Link
Titov S.A. [Nature of the Initial Public Offering underpricing]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2017, vol. 11, no. 8-2, pp. 596–598. (In Russ.)
Belozertseva I.B. [The role of financial statements in the analysis of the investment attractiveness of an organization]. Transportnoe delo Rossii = Transport Business of Russia, 2020, no. 6, pp. 19–20. URL: Link (In Russ.)