caa a22 4500 606217185 CHVBK 20210128101106.0 cr unu---uuuuu 210128e20150701xx s 000 0 eng 10.1007/s10598-015-9277-y doi (NATIONALLICENCE)springer-10.1007/s10598-015-9277-y Time-Dependent Model of Corporate Investments in Fixed Assets [Elektronische Daten] [A. Perevozchikov, I. Lesik] The article examines the simplest model of investment in fixed assets by a corporation using debt. The value of corporation's equity is the evaluation criterion. The value of equity can be determined by direct capitalization of gross profit in the income approach, which enables us to investigate the value of the corporation as a function of debt. This dependence called the financial management line may be studied from various angles. It has been previously shown that the financial management line is an increasing concave and piecewise-linear function and the formula for its generalized differential has been derived. The financial management line is constructed by using a steady-state model of income beyond the planning horizon. In the present article, we supplement the previous model with a general time-dependent model of income inside the planning horizon. We accordingly propose tools for estimating the dependence of the actual current value of equity on the potential value of the company beyond the planning horizon. Springer Science+Business Media New York, 2015 Corporate equity nationallicence value of equity nationallicence direct profit capitalization method nationallicence discounted income method nationallicence fixed-asset investment nationallicence long-term corporate debt nationallicence dependence of the value of the company on investment volume nationallicence financial management line nationallicence monotonicity nationallicence concavity nationallicence planning and post-planning horizons nationallicence Perevozchikov A. Faculty of Computational Mathematics and Cybernetics, Moscow State University, Moscow, Russia aut Lesik I. Faculty of Computational Mathematics and Cybernetics, Moscow State University, Moscow, Russia aut Computational Mathematics and Modeling Springer US; http://www.springer-ny.com 26/3(2015-07-01), 358-369 1046-283X 26:3<358 2015 26 10598 https://doi.org/10.1007/s10598-015-9277-y text/html Onlinezugriff via DOI BK010053 XK010053 XK010000 Metadata rights reserved Springer special CC-BY-NC licence nationallicence 1 research-article jats NATIONALLICENCE NATIONALLICENCE NL-springer NATIONALLICENCE 856 40 https://doi.org/10.1007/s10598-015-9277-y text/html Onlinezugriff via DOI NATIONALLICENCE 700 1- Perevozchikov A. Faculty of Computational Mathematics and Cybernetics, Moscow State University, Moscow, Russia aut NATIONALLICENCE 700 1- Lesik I. Faculty of Computational Mathematics and Cybernetics, Moscow State University, Moscow, Russia aut NATIONALLICENCE 773 0- Computational Mathematics and Modeling Springer US; http://www.springer-ny.com 26/3(2015-07-01), 358-369 1046-283X 26:3<358 2015 26 10598