Management of strategic planning based on merger and acquisition deals and its impact on the efficiency of the Russian electric power complex

The article presents a set of solutions proposed by the author for managing strategic planning in the electric power industry based on merger and acquisition deals. The purpose of the study is to develop a methodological approach to the selection of mergers and acquisitions in the implementation of strategies for the development of electric power enterprises. A multi-step algorithm for developing and implementing a strategy is proposed and tested due to the limited number of potential participants in mergers and acquisitions in the electric power industry. The methodological approach is developed using the decision tree method and differs from existing approaches in that it simultaneously takes into account two main indicators of mergers and acquisitions, namely the price of the deal and the probability of its successful completion. The model for assessing the probability of successful completion of merger and acquisition deals as part of the proposed methodological approach is based on the stepwise regression method and confirmed by empirical data on transactions over the previous 20 years. Also, the features of the proposed model for assessing the probability of successful completion of deals include taking into account the type of strategy being implemented, the state of the debt market, as well as a complex of political, economic and social factors formalized in the form of components of the FSI index (fragile state index). To assess the impact of strategies on the state of the industry based on mergers and acquisitions, a system of indicators characterizing the economic and production efficiency of the electric power complex has been created. The calculation data have confirmed that an increase in the intensity of mergers and acquisitions as a result of using the proposed methodological approach can lead to solving the problem of updating fixed assets - one of the most important problems in the functioning of the electric power complex of the Russian Federation. The results of the study can be used in the practice of strategic planning of Russian power industry enterprises and for the purposes of developing state policy in the electric power industry.