Abstract
Abstract
The article is devoted to the consideration of the conceptual foundations and practical implementation of deterministic factor analysis of models of the market price of an ordinary share and its elasticity with a neutral approach to the dividend policy of a public company as an artificial intelligence tool. The methodological basis of the research was formed by the concept of a neutral approach to dividend policy previously developed by the author of this article, models of the market price of an ordinary share and its elasticity in the context of a neutral approach to the dividend policy of a public company, as well as the conceptual foundations of artificial intelligence. It is shown that the factors determining the market price of an ordinary share and its elasticity indicators under the conditions of a neutral approach to the dividend policy of a public company include profit per ordinary share of a public company, return on investment of a public company, market capitalization level (average market discount rate used to determine expected cash flows), acceptable discount rate (profit margin, required by investors per ordinary share of a public company) and the growth rate of the dividend per ordinary share of a public company, assumed to be constant over time. The most universal method of deterministic factor analysis, the method of chain substitutions, has been chosen as a tool for predicting (calculating) the influence of these factors on the level of effective indicators determined by them. The calculation results can be used in predictive and analytical estimates of the impact of changes in their determining factors on the deviation of the market price of an ordinary share and its elasticity indicators in the context of a neutral approach to the dividend policy of a public company. The author comes to the conclusion that his approach to deterministic factor analysis of models of the market price of an ordinary share and its elasticity with a neutral approach to the dividend policy of a public company is a fairly new and effective tool for managing the market price of an ordinary share of a public company in a neutral approach to the implementation of its dividend policy.
JEL codes:
C38, G17, G35, G39