European Proceedings Logo

Approaches To Risk Assessment In Financing Borrowers Of The Digital Economy Sphere

Table 2:

Component Name Calculation Information Source
R F As the nominal risk-free rate, an alternative rate on the Bonds of the federal loan with maturity 11/12/2019 with a yield of 7.51% was chosen. (Finam, 2019a)
ERP According to analytical data, 9,43% (Damodaran, 2019)
β Estimated data of the author. The period of shares observation was from 2017 to 2019, the number of observations – 508. Controversial is the choice of a market indicator (industry specifics of the IT industry are not taken into account). A decision was made to choose the RTSI index, as in its calculation there are companies from the IT segment. The estimated value is 0,34. (Finam, 2019b)
P1 Estimated value 2,69 Risk classification
Discount rate (CAPM) 1 (без P1) - 8,17
Discount rate (CAPM) 2 (c P1) - 10,86
Discount rate (cumulative method) 3 - 10
< Back to article