МАТЕМАТИЧНІ МЕТОДИ ДЛЯ ДОСЛІДЖЕННЯ ВАРТОСТІ КОМПАНІЙ В УГОДАХ ЗЛИТТЯ ТА ПОГЛИНАННЯ (M&A TRANSACTIONS)

Abstract

The results of the research of mathematical methods used to determine the value of companies during the implementation of merger and acquisition agreements (M&A Transactions) are highlighted. The theoretical and practical aspects of the application of methods for assessing the value of companies in mergers and acquisitions are summarized, their essence is revealed, the differences between the methods are highlighted, indicating the special characteristics of these methods, the application criteria and the main prerequisites under which the use of each method will be most effective and give the best result are defined. Particular attention is paid to the disclosure of the advantages and disadvantages of each method of assessing the value of companies, which are used in accordance with the characteristics of gas companies in which mergers and acquisitions take place. Modern scientific works of domestic and foreign scientists, devoted to the application of mathematical methods of estimating the value of companies in merger and acquisition agreements, were studied. The methods of applying mathematical methods to calculate the value of companies-potential targets of mergers and acquisitions are clearly shown, namely the Discounted Cash Flow model (DCF), the Precedent Transactions Analysis (PTA), the Comparable Companies Analysis (CCA) and Machine Learning algorithms (ML). On the basis of the conducted research, promising directions for improving the research of mathematical methods and models for determining the value of companies in merger and acquisition agreements were determined.