The Problem of Terminological Uncertainty in Applied Economics
Abstract
For the last 20 years, thesaurus of Russian economic science has been changed dramatically. Firstly, some terms of market economy that were not used before have been actively introduced. Secondly, both the essence of some categories and methodology of calculation of many traditional indicators have been signifi cantly changed. Unfortunately, quite oft en these changes are not accepted in research papers and manuals. This leads to ambiguity, uncertainty and misleading of readers. The existence of this problem has been demonstrated by the author using some wide-spread accounting and financial terms and indicators.
Keywords:
balance sheet, capital, equity, reserve capital, cost of capital, company value, depreciation, profit, Tobin’s q-ratio, net assets, goodwill, neoclassical theory of finance, financial management, corporate finance
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Articles of the St Petersburg University Journal of Economic Studies are open access distributed under the terms of the License Agreement with Saint Petersburg State University, which permits to the authors unrestricted distribution and self-archiving free of charge.