Cost estimation of the enterprise is produced during fundamental analysis when the expected net profit of the enterprise is defined and the structure of the capital, quality of management, qualification of workers and other factors are analyzed. The analysis of these factors allows determining the cost of the enterprise. Share cost of the liquid enterprises, as a rule, is higher than share cost of the illiquid enterprises. The following rule is connected with next position: shares of public joint-stock corporations are more expensive shares of the private joint-stock corporations. The difference could achieve 35-50 %. It is caused by many reasons including the big expenses for public accommodation of shares. Investments in the private joint-stock enterprises are usually put on more long term, than in public joint-stock corporations. Besides in public joint-stock corporations it is easier to generate a diversification portfolio of investments, than in the private joint-stock enterprises. Accordingly the risk connected to investments in public joint-stock corporations is less than the risk of investments in the private joint-stock corporations. Lower cost of shares of the private joint-stock corporations is also connected to restrictions on the property rights which means the contracts on obligatory sale and purchase of shares by shareholders of the enterprise, the right of the first refusal, the requirement to free sale of shares, contracts on association. In most cases the private joint-stock corporations have rather small nomenclature of producing goods. It increases their risks connected, for example, with deficiency of raw material; limit their opportunities of overspecializing in comparison with public joint-stock corporations, which have big diversifications of production. It can influence the cost of these corporations. There are different methods of cost estimations of enterprises in literature. They could be grouped by three main approaches:

• The approach based on estimation of cost of property of the enterprise (the property approach);
• The approach from the point of profitableness of the enterprise (the profitable approach);
• The approach based on the analysis of market cost of the similar enterprises (the market approach).