TY  - JOUR
T1  - Taking Account of Managerial Options Within the Frameworks of Taking Investment Decisions
AU - A. Kalugin, Vladimir AU - A. Monakova, Elena AU - S. Pogarskaya, Olga AU - I. Korolkova, Darya 
JO  - International Business Management
VL  - 9
IS  - 5
SP  - 966
EP  - 968
PY  - 2015
DA  - 2001/08/19
SN  - 1993-5250
DO  - ibm.2015.966.968
UR  - https://makhillpublications.co/view-article.php?doi=ibm.2015.966.968
KW  - Discounted methods
KW  -investment decisions
KW  -cash flows within investment projects
KW  -managerial options
KW  -methodology of analysis of hierarchical structures
KW  -pairwise compassion matrix
KW  -ratio scale
AB  - The use of the traditional discounted methods as tools by taking investment decisions to a large extent relies on the ability of economists and financial analyst to provide substantiated estimates in respect of the expected cash flows within the investment projects being analyzed at each stage of the accounting period. The basis of these estimates is made of the initial assumptions in respect of: the future level of business activity, actions of competitors, cost of the factors of production, volume of sales, etc. Since, each of these elements is characterized by high level of uncertainty the estimated figures in the best case represent only the outlines of the future results of activity aimed at implementation of the investment projects. In the study, the improvement of the system of assessment of investment projects is proposed that is based on the methodology of analysis of hierarchical structures that allows estimating the investment projects by the ratio scale at each stage of the accounting period having included in the estimate the ‘cost’ of managerial options.
ER  -