SPECIFIC FEATURES OF COST ESTIMATION AND SELECTION OF INVESTMENT PROJECTS OF A COMPANY WITH A DEBT
This article discusses: the general formulation of the problem of assessing the value of the operating segment of a company with debt, cost factors and their impact on the market value of the corporation, discounted at the rate of the price of equity cash flows, generated in that segment; cost factors, among which the priority value of the profitability of the capital raised in the costs is justified: the impact on the cost of investment projects of modernization of the production segment and expansion of production. Within the framework of these studies, there has been developed a conceptual model for choosing a priority sequence of investment projects according to the “result-costs” criterion, planned for implementation in the company's operating segment, taking into account the potential of the segment's production and resource capabilities and taking into account ensuring its cost growth at the end of the investment cycle. The main results and conclusion of the work are, respectively, the formulation of the task of managing the value of the operating segment of the enterprise and the profitability of investments of shareholders and other owners, and the statement of the need to intensify efforts to develop economic and mathematical tools for assessing and managing the value of a company with debt before, at successive stages and upon completion of investment projects for modernization and expansion of production within the operational segment.