Makedon V. Conceptual approaches and instrumental methods of estimation of mergers processes and acquisitions by subjects of financial sector of economy

Abstract

The pressing question of research of effective approaches and methods of estimation of confluence processes and absorptions  financial entities is considered in the article. Within the framework of research cost approach that must be based on the calculation of market value of company  during realization of transaction on confluence or absorption is separately distinguished. It is well-proven that the formation of sinergistical effect arises, when market capitalization of financial sector entity exceeds the sum of market capitalizations of  its participants in comparison with previous capitalizations. Three approaches to the estimation of confluences and absorption of processes - profitable, comparative and expense were distinguished. The analysis showed that the basis of financial approach is the system of aims and tasks, and also indexes that determine the achievement of sinergistical effect. Within the limits of financial approach, an increase of net income and net money stream, an increase of profitability of activity and capital assets of financial sector entity are a criterion of efficiency. Certainly, that strategic approach must be based on  methodologies quality of estimation of the activity and processes results carried out by market participants. Leading methods must be: the balanced system of indexes, cost corporate accounting and matrix analysis. It is proved that the application of these methods forms the choice order of optimal variant that provides a maximum sinergistical effect.