The article is devoted to the consideration of the conceptual foundations for assessing the level of financial risk through the analysis of the sensitivity of key indicators of the activity of a public company on the stock market (market activity) to the main determining factors under the conditions of a neutral approach to the implementation of its dividend policy.
The methodological basis of the study was the concept of a neutral approach to the dividend policy of a public company, developed earlier by the author of this article, and the concept of sensitivity analysis.
It is shown that the analysis of the sensitivity of key indicators of market activity to the main determining factors in the context of a neutral approach to the implementation of the dividend policy of a public company involves the construction of appropriate elasticity models that make it possible to determine the change in key indicators of market activity depending on the change in the factors that determine them, and, accordingly, to assess the level of financial risk associated with these factors.
The author comes to the conclusion that the models of elasticities of key indicators of a public company’s activity on the stock market based on the main factors that determine them, which he developed, are a fairly effective tool for assessing the level of financial risk caused by the degree of market activity of a public company under conditions of a neutral approach to the implementation of its dividend policy.
