Valuation and the term value always were disputable issues in financial world. Different types of value, different techniques of value estimation, plenty of factors influencing value are the main issues of financial articles in various respectable financial magazines. Recent financial crisis increased the intense around these issues in all over the world and brought new momentum to the question on how reliable market value reflects real (fundamental) value of companies, what makes this value increase or decrease etc. This paper is focused on the defining the level of influence by fundamental value of company on its market value in BRIC countries. And as a basis for fundamental valuation the Residual Income Model was taken complemented by the value of intangible assets, whose role in value creation is raising in XXI century. Это и многое другое вы найдете в книге Value Creation in BRIC countries (Philipp Malik)