FEATURES MANAGING OF THE ENTERPRISES MARKET VALUE ON THE BASIS OF BUILDING A HIERARCHY OF THEIR PROPERTIES

Enterprises management requires prior establishment of the main purpose of their activities. One of the most generalized goals of enterprises is to maximize their market value. This criterion in some way combines a number of less generalized criteria, particularly the criterion of maximizing net profit. At the same time, the integral nature of such an estimated indicator as the market value causes a significant difficulty that arises in its calculation. This is related to the fact that the market value of business entities is influenced by a number of different factors that form a certain hierarchy. The allocation of this hierarchy allows not only to establish a reasonable dimension of the market value, but also to develop effective mechanisms for managing this value. Particularly, such management should provide some influence on the factors that directly or indirectly determine the enterprises value. Among other things, the quantitative or qualitative characteristics of these factors can be identified with certain object properties that are influence sources on the market value of companies. Such objects can be an enterprise as a whole property complex, its separate divisions, elements of resource provision, components of the external environment, etc. The research aim is to establish the managing features the market value of enterprises on the basis of building a hierarchy of their properties. The main types of the enterprise properties and its components were determined. The grouping of such properties was performed and their hierarchy was built as well. The mechanism of projection of one property on another was considered. The fact that the formation of the enterprises market value is a process that is reflected in the influence of their lower level properties on the higher level properties has been showed. The hierarchy of the studied properties is quite complex, which is reflected not only in the vertical but also in the horizontal relationships between them. The obtained results can be used by enterprises managers and specialists by the development of measures to ensure the growth of their market value, as well as enterprises appraisers in establishing the dimensions of their value on the basis of a profitable approach to their definition.