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THE MODERNIZATION OF THE FINANCE SOURCES FOR THE ELECTRICITY INDUSTRY COMPANIES ON THE EXAMPLE OF «ENERGO»

Abstract

Article is devoted to realize the choice of the optimal capital structure and financing instruments for Russian electricity distribution companies. The result of the study is the algorithm for determination of the optimal debt level and the selection of appropriate sources of finance for the local grid companies, as well as the following recommendations.

About the Authors

V. V. Nazarova
National Research University – Higher School of Economics, St. Petersburg
Russian Federation
Candidate  of Economic Sciences,  Assistant Professor,  Department of Financial Markets and  Financial Management


Y. Y. Ivleva
National Research University – Higher School of Economics, St. Petersburg
Russian Federation
Postgraduate


References

1. Брейли Р., Майерс С. Принципы корпоративных финансов: пер. с англ. Н. Барышниковой. М.: ЗАО «Олимп-Бизнес», 2010. – 1008 с.

2. Особенности ценообразования на рынке электроэнергии и мощности Российской Федерации. М.: Министерство Энергетики Российской Федерации, 2011.

3. Теплова Т.В. Моделирование стоимости корпоративного заимствования на российском рынке // Управление Корпоративными Финансами. – 2011. – № 05 (47). – С. 198–220.

4. Ross S. The determinants of financial structure: the incentive signaling approach // Bell Journal of Economics. – 1977. – № 8. – Р. 23–40.

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6. Официальный сайт ЛЭНЭНЕРГО [электронный ресурс] http://www.lenenergo.ru/


Review

For citations:


Nazarova V.V., Ivleva Y.Y. THE MODERNIZATION OF THE FINANCE SOURCES FOR THE ELECTRICITY INDUSTRY COMPANIES ON THE EXAMPLE OF «ENERGO». MIR (Modernization. Innovation. Research). 2013;4(3(15)):20-25. (In Russ.)

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ISSN 2079-4665 (Print)
ISSN 2411-796X (Online)