As company transfers through various stages of its life cycle, the priority of the key parameters, the types of agency problems, the availability and using certain sources of capital is in dynamics. And company’s performance is usually explored separately from its life cycle, which is basically defined by organizational parameters. The limitation of the methodology for the formation strategies of financing leads to their non-sustainability. The report is concerned with likelihood to company being at certain life cycle stage compared to baseline, when capital structure, profitability, liquidity changes. Based on logistic regression an increase in capital structure encourages transition from slow growth to boost growth stage and constrains further transition to maturity. Also, macroeconomic factors have significant influence economic activity and development. The coefficient q characterizes distribution of cash flows to investment and consumer sector. It was found by the model of shifting mode reproduction of fixed capital. High q-value reflects, that emission encourages more growth in inflation, than in real gross domestic product. Was approved, that expansionary monetary policy has an effect on decrease high q-value in Russia in terms of complex actions. Was found positive issue impact on shifting mode reproduction of fixed capital and economic growth, not on inflation. Finally, expansionary monetary policy could re-allocate resources in capital assets and the necessity in attracted capital is decreasing. These results can be used as a part of future monetary policy implementation.
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21 June 2021
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Social sciences, education and psychology, technology and education, economics and law, interdisciplinary sciences
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Krasilnikova, E. (2021). Microeconomic Factors Identifying Life Cycle Stage And Macroeconomic Factors Enhancing Development. In & N. G. Bogachenko (Ed.), Amurcon 2020: International Scientific Conference, vol 111. European Proceedings of Social and Behavioural Sciences (pp. 484-491). European Publisher. https://doi.org/10.15405/epsbs.2021.06.03.65