SCIENTIFIC-METHODOLOGICAL PRINCIPLES OF ESTIMATING THE EFFICIENCY OF INNOVATIVE-INVESTMENT DEVELOPMENT PROGRAM OF COMMUNICATIONS PROVIDER
Journal Title: Економіка розвитку - Year 2012, Vol 63, Issue 3
Abstract
The current stage of civilization development of socioeconomic systems at any level and scale is characterized by the increasing role of telecommunication systems. The expansion of communication services, providing new ones under the conditions of high competition and fast technological innovation expects systematic development and implementation of innovation and investment development programs of communication operators. Thus the main problem is the development of assessment methods of such programs efficiency and their optimization through simulation.One must have the criterion of development programs efficiency. In the paper a formula for calculating the value of NPV notion is designed which allows assessing the efficiency of the program projects in any area of development, profitability, to obtain financial profile of the program, to evaluate the payback period of investment. Optimization of the given indices development programs efficiency can be implemented in the simulation, using the control parameters, volume periods of investment and their number for each area of development individually. Thus cash flows (CF) should be represented as a function of investment, basement on the expert assessments or statistical data.It should also be noted that the proposed formula for calculating NPV includes the changes of internal standard of profitability RRR on each partial range of the program life cycle. It should be done because in the process of implementation of the program the cost of the capital can vary significantly and the use of its weighted average capital cost (WACC) is not allowed.The prospect of future research consists in studying the effect of service market vagueness factors on the program efficiency indices.
Authors and Affiliations
Yuriy Burimenko, Irina Babur
Keywords
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