Practical aspects of the application of behavioral finance in assessing the investment attractiveness of the company

The article deals with the problem of the effectiveness of the application of the models of capital market analysis, developed within the framework of the neoclassical economic theory, in modern economic conditions. The aim of the work is to study the models of behavioral finance and assess the relevance of their application in modern conditions when assessing the value of a company. The paper proposes a hypothesis according to which, in order to obtain objective results of assessing the investment attractiveness of a company in conditions of the environment uncertainty, it is necessary to use models that can take into account the influence of various behavioral factors. The article demonstrates the use of behavioral economics tools in assessing the current value of a company using the example of PJSC "Magnit" and X5 Retail Group, in the conditions of the COVID-19 pandemic. The analysis of modern trends in the food retail market in Russia is carried out. The retailers сash flow were forecast, and the calculation of the behavioral discount rate was carried out using the Statman model to determine the current value of the analyzed companies. Based on the results of the assessment, the hypothesis about the need to use behavioral finance models in the analysis of the current value of the company in modern economic conditions was confirmed.