Abstract
The author considers features of influence of finance solutions of management of the Russian public companies on debt policy. In a research are included indicators of internal growth and dividend payments by means of which it is possible to estimate corporate financial policy. Internal growth is the indicator of regulation of debt strategy, the including mechanism of precautionary motive. The dependence of the share price on the market value of assets defines installation of communication between the economic interests of shareholders and finance solutions of management. The indicator of dividend payments allows to estimate influence of external negative effects (shocks) on behavior of investors at profit assessment. Increase in dividend payments is connected with their financing from an external source. Management works in logic of precautionary motive, keeping a part of profit for further debt repayment before creditors. The management of the Russian companies not only influences the share price, but also regulates the level of a debt load. The company can use dividend payments on reinvestment of assets (as an investment resource). The author shows as the Russian public companies, solve a problem of adverse selection, switching to cheaper financing sources. The value of a debt is connected with the level of investment into the company. Pledge (property providing) is a guarantee for creditors. As, getting access to debt financing, the company provides to the creditor the complete information about property, thereby, reducing the risks connected with attraction of a debt. The Russian public companies react to changes of debt increase in value of size of assets that will be approved with recapitalization of the company (change of the capital structure due to debt increase and its use for dividend payouts to shareholders).