Risk Structure Depending on the Corporate- and Market Life Cycle.

      Аннотация: The corporate- and market life cycle can have a considerable influence on the rate of entrepreneurial risk. There are distinguished operational and financial risks. There are some quantities for measuring both kinds of risks, but for calculating their shares on the total entrepreneurial risk, there is necessary to use such measuring instruments, that use same units. For this purpose, there can be modified the constructional model, developed for calculation cost of equity, which is composed of five components in total, that can be assigned either to operational or financial risks. So there can be found out differences in the risk structure depending on market positions, derived from the combination of phases of the corporate- and market life cycle.

Ключевые слова: Cost of Capital, operational risk, Financial Risk, corporate life cycle, market life cycle, market positions