В ходе данного проекта можно научиться на практике применять различные методы и подходы к оценке российских инвестиционных компаний и кредитных организаций, сравнить на статистической базе данных российского рынка различные инструментарии оценки рисковых премий, коэффициентов чувствительности, рыночных мультипликаторов, найти их плюсы и минусы, проанализировать связанные с этим ограничения, и научиться решать эти проблемы. Данные аналитические инструменты имеют самое широкое применение при работе с ценными бумагами, банковской, инвестиционной деятельности, деятельности по управлению активами.

In the course of this project, you can learn how to apply various methods and approaches to evaluating Russian investment companies and credit institutions, compare various tools for evaluating risk premiums, sensitivity coefficients, and market multipliers on the statistical database of the Russian market, find their pros and cons, analyze the associated limitations, and learn how to solve these problems. These analytical tools are widely used when working with securities, banking, investment, and asset management.

Целью проекта "Государственная поддержка инвестиционной активности: международный и российский опыт, выбор инструментов, повышение эффективности" является проведение детального обзора мер государственной поддержки инвестиционной активности и реализации инвестиционных проектов в России и в мире, сравнительный анализ и выбор оптимальных инструментов, повышение эффективности инструментов, расходования средств.

Планируемые результаты - формирование выводов по лучшим практикам мер государственной поддержки инвестиционной деятельности и инвестиционных проектов, рекомендации по повышению эффективности мер в России. 

The purpose of the project "State support for investment activity: international and Russian experience, choice of tools, efficiency improvement" is to conduct a detailed review of measures of state support for investment activity and implementation of investment projects in Russia and in the world, comparative analysis and selection of optimal tools, improving the effectiveness of tools, spending funds.

The planned results are the formation of conclusions on the best practices of state support measures for investment activities and investment projects, recommendations for improving the effectiveness of measures in Russia.

В исследовании, рассматриваются главные тенденции и особенности развития отечественной золотодобывающей отрасли, к которым в том числе относятся наращивание производственных мощностей, увеличение объемов ресурсной базы и положение на рынке российских золотодобывающих компаний по сравнению с зарубежными аналогами.

В рамках исследования будут изучены и представлены такие аспекты как:

• ключевые показатели золотодобывающей отрасли РФ по итогам 2019 и возможно первой половины 2020 года;

• анализ операционных и финансовых показателей крупных российских игроков, а также рисков, которые они выделяют как ключевые;

• результаты опроса, проводимого EY среди ведущих золотодобывающих компаний РФ, что позволяет получать все более полное понимание целей и стратегий крупнейших золотодобывающих компаний;

The study examines the main trends and features of the development of the domestic gold mining industry, which include increasing production capacity, increasing the volume of the resource base and the market position of Russian gold mining companies in comparison with their foreign counterparts.

The study will examine and present such aspects as:

• key indicators of the Russian gold mining industry in 2019 and possibly the first half of 2020;

* analysis of operational and financial indicators of major Russian players, as well as risks that they identify as key;

• results of the survey conducted by EY among the leading gold mining companies in the Russian Federation, which allows us to get a more complete understanding of the goals and strategies of the largest gold mining companies;

We propose to discover special industry-related characteristics of management corporate finance decisions. By corporate finance decisions we mean firm level investments and financing.

Academicians usually take a set of assumptions to motivate company level decisions to be efficient in theory. The very basic efficiency criteria are the enterprise value and shareholder wealth. In real life we usually meet with greater number of factors affecting management decisions than we usually control in financial modelling. Classic factors that we try to take into account in academic empirical efforts may include crisis, firm size, potential conflicts between debtholders and equityholders, etc.

By promoting this project to you we propose to investigate industry as a factor that we assume has potential to influence the efficiency of financial management practices

Areas of practice-related research may include:

1. Financial management issues in innovative companies: financing early stage investments, development of venture capital funds, project financing industry specifics, crowdfunding practices,
2. Industry peculiarities of specific financial decisions – investment, financing and payout
3. Best examples of company growth strategies and payout practices from real industries
4. Investigation of best practices and opportunity to develop real industry level cases.

Special topics include valuation modelling efforts in metallurgy, transport, retail, engineering, pharmaceutical, fuel and energy industries as examples. We want students to apply corporate finance principles to project company cash flows, payouts to equityholders, financing issues and modelling optimal capital structure. Students will be able to

• learn best practices in financial modelling
• perform a detailed study of a company case or set of companies and discover industry peculiarities
• gain experience in projecting decisions and modelling cash flows
• work with real data and use industry projections from professionals
• write a special report and present results to professionals

We invite students to work with real financial data, develop analytical skills taking into account specifics of particular industry case. Our project is will enable you to push your theoretical corporate finance knowledge closer to practice.

Project related seminars will be carried out with help of real practitioners from PWC. Enrolled students will be able to meet and study existing global business consulting practices.

Main objectives of the course are to provide students with knowledge, tools, and practical experience related to financial analysis and assessment of real estate investments and corporate real estate portfolio. The topics include: 

• Real estate investments overview (local and international context)

• Types of property (residential, office, retail, hospitality, industrial, recreational segments)
• Market players, investment vehicles, business models
• Financing structure, forms of equity and debt financing 
• Financial analysis of real estate investments, development projects and assets, CF structure, key ratios and investment indicators
• Valuation of property rights, development projects and real estate assets
• New trends and investment drivers – PropTech (Property Technology), Smart City, sustainable development and Green construction)

• Corporate real estate portfolios

• Approaches to real estate management – asset management, property management and facility management
• Financial aspects of site selection, business location and space planning 
• Portfolio optimization approaches, costs analysis 
• Valuation of real estate assets and financial reporting