Abstract:

The problem of increasing the value of the company is relevant not only for shareholders and owners, but also for all stakeholders in the business. The shareholder value of the company is the result of activities that will ensure the solution of financial, social, environmental problems at all levels of management. It is proved that the shareholder value is changeable under the influence of various factors. They are financial and non-financial in nature, reflect the quantitative and qualitative assessment of changes in shareholder value from the perspective of the sustainable development within the company, industry, region and country. The article discusses the method of factor analysis to form the shareholder value of the company. The authors offer to make a grouping of factors affecting shareholder value, taking into account the interests and needs of stakeholders. The market capitalization of securities in the stock market was chosen as the effective indicator reflecting the real assessment of the shareholder value. The authors show the formation concept of the companies’ joint-stock cost and research the pharmaceutical market and market capitalization of pharmaceutical manufacturers. The study, as well as the experience of international companies in the study of the pharmaceutical market, allowed to classify and systematize the company's stakeholders. The results of the analysis demonstrate the shareholder value under the influence of selected factors. The construction of the factor model depends on the characteristics of the production business model, so the results are shown on the example of the pharmaceutical company.