Release:2017, Vol. 3. №2
About the author:Elena A. Chuveleva, Сand. Sci. (Tech.), Associate Professor, Department of Management and Marketing, Novokuznetsk Branch-Institute of Kemerovo State University; email@example.com
This article suggests the hypothesis of considering the healthy egoism of economic agents, who are limited by the negative impact on their predominant economic activity of uncertainty (risk-taking), the driving force behind the development of the economy, which requires the mechanism compensating acceptable levels of profitability underpaid to agents. A vector of development of such a compensation mechanism is set, defined by the model (ideal) state of the financial-economic equilibrium in the economy.
It is shown that the reproduction processes of mergers and acquisitions of non-financial corporations are able to distance the economy from named ideal (model) state. The reason for this is the effect of unwieldy and unmanageable (by the forces of corporate risk management) risks, including renewable, on the enterprises’ integration projects. In the context of the basic methodological principles of the neoclassical theory of economic equilibrium, the author shows the theoretical soundness and elegance of the idea of creating a mechanism of financial compensation, underserved to investors, in merger projects and acquisitions to an acceptable level of profitability.
The author shows that the establishment of a mechanism for financial compensation, underserved to selfish buyers in mergers and profitability acquisitions or losses from the negative impact of risks, can be an important element in the complex task of the national economy recovery. The operation of such a mechanism can prevent the displacement of the motivations of buyers of target companies within the scope of their consumer and speculative usage, harming the economy and society. Principles of identification of financial instrument for creation of such mechanism allow to recognize the insurance risks of mergers and acquisitions of non-financial corporations to be the only acceptable among the existing ones.