Journal articles on the topic 'Capital investments'
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1
Savitska, O. Р., and N. V. Savitska. "Capital Investment in the Economy of Lviv Region: Rating, Tendencies and Directions of Revitalization." Business Inform 2, no. 517 (2021): 48–56. http://dx.doi.org/10.32983/2222-4459-2021-2-48-56.
Abstract:
The volume of capital investment in the economy of region is an indicator that signals the level of socio-economic development; standard of living of the population; direction of innovation renewal in any sphere of economic activity; the ability to implement investment programs and projects, and as result, the increasing competitiveness and investment attractiveness both in both the domestic and international markets. Precisely that is why every city or community, region or country should pay considerable attention to the processes of revitalizing investment and creating favorable conditions together with market infrastructure to attract and stimulate investor activities. To assess the current status and tendencies in the development of capital investment in the Lviv region, the authors determine the position of the region in the rating among other regions of Ukraine in terms of the main indicators of capital investments, which are in the public domain and published on the official websites of the State Statistics Service of Ukraine and the Main Department of Statistics in Lviv region as of 2019. In particular, a comparative characterization of Lviv region and Ukraine is provided in terms of volumes, the share of the region to the total volume in the country and region, as well as the position in the rating among the regions according to the following indicators: capital investments by types of assets; capital investments by sources of financing; capital investments by type of economic activity; capital investments per capita. In addition, the dynamics of volumes and growth rates of capital investments of Ukraine and Lviv region for the period 2010-2019 is analyzed. The authors found that the dynamics of growth of capital investments in the Lviv region almost duplicates the dynamics in Ukraine. The research showed that in many respects Lviv region occupies high rating positions among the regions of Ukraine, which justified the high investment potential of the region and the ability to attract significant financial resources for the implementation of investment programs and projects. As result of the study, the authors proposed directions of revitalization of capital investment and improvement of the investment climate of Lviv region.
2
Titman, Sheridan, K. C. John Wei, and Feixue Xie. "Capital Investments and Stock Returns." Journal of Financial and Quantitative Analysis 39, no. 4 (December 2004): 677–700. http://dx.doi.org/10.1017/s0022109000003173.
Abstract:
AbstractFirms that substantially increase capital investments subsequently achieve negative benchmark-adjusted returns. The negative abnormal capital investment/return relation is shown to be stronger for firms that have greater investment discretion, i.e., firms with higher cash flows and lower debt ratios, and is shown to be significant only in time periods when hostile takeovers were less prevalent. These observations are consistent with the hypothesis that investors tend to underreact to the empire building implications of increased investment expenditures. Although firms that increase capital investments tend to have high past returns and often issue equity, the negative abnormal capital investment/return relation is independent of the previously documented long-term return reversal and secondary equity issue anomalies.
3
PODOLIANCHUK, Olena, and Nataliya GUDZENKO. "CAPITAL INVESTMENTS: NORMATIVE LEGAL AND ACCOUNTING." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 2 (56) (June 29, 2021): 166–81. http://dx.doi.org/10.37128/2411-4413-2021-2-12.
Abstract:
The article evaluates the legal regulation and accounting of capital investments and determines that a single and precise term that would determine their essence has not yet been developed. The difference in the definitions of capital investments is outlined, which leads to confusion in their evaluation and reflection in the system of accounting accounts. There are two approaches to determining the nature of capital investment in the legal framework: economic and accounting. The dynamics and structure of capital investments by types of assets in terms of 2015-2019 are presented. Based on the results of elaboration of the regulatory framework and scientific opinions of scientists, their own opinion on the definition of capital investment has been expressed. It is noted that in the organization of accounting for capital investments it is important to assess, classify, justify objects, as well as the allocation of costs to current (to maintain the object in working order) and attribute investments to capital (improving the functional properties of the object ). A generalized classification of capital investments is proposed, which will help to timely and fully systematize the accounts and reflect in the reporting of objective and reliable information. It was found that one of the problems of accounting for capital investments is the distribution of costs and investments incurred between current costs and capital investments. Entities are invited to develop their own criteria for identifying capital investment objects and assigning the cost of repairs (capital repairs) to capital investments and approve them in the accounting policy and order. In order to ensure the objectivity of the information on capital investments, alternative changes to the Chart of Accounts have been proposed in the part of the Capital Investments account. The submitted proposals will provide an opportunity to consider capital investments as a separate object of accounting and to assess the rationality of investments.
4
Berezhnaya, O. V., E. V. Berezhnaya, V. N. Glaz, E. G. Strukova, and A. Н. Goshokov. "OPTIMIZATION OF THE SPATIAL DISTRIBUTION OF INVESTMENTS IN HUMAN CAPITAL IN THE REGIONS OF THE NORTH CAUCASUS FEDERAL DISTRICT." Scientific Journal ECONOMIC SYSTEMS 1, no. 181 (2021): 109–16. http://dx.doi.org/10.29030/2309-2076-2021-14-2-109-116.
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The article discusses some areas of optimization of the spatial distribution of investments in human capital on the example of the regions of the North Caucasus Federal District. Based on the study of the subjects of investment in human capital and the mechanisms of investment in human capital, the article identifies a number of problems that allow us to talk about a weak system of organization and management of investments in human capital, as well as stochastic returns on these investments, which requires the search for mechanisms to optimize the processes of managing the spatial distribution of investments in human capital. In order to solve the problems identified in the study and to optimize the spatial distribution of investments in human capital at the regional level in the context of limited financial capabilities of the regions, the proposed article develops a mechanism for forming priorities for regional investments in human capital, which will take into account the characteristics of a particular region, its priorities in terms of investment in human capital, the structure and sources of such investments, taking into account the capabilities of the region. Within the framework of the proposed study, it is determined that the formation of priorities for regional investments in human capital should be determined as the ratio of the required volume of investment investments to the costs of achieving specific results of socio-economic development, taking into account specific criteria for assessing the financial support of the regional investment process. The mechanism of formation of priorities of regional investments in human capital proposed in the scientific article will allow optimizing the distribution of investments in regional human capital, since the priority areas of investment are determined here taking into account the available resources of the region, as well as taking into account the assessment of their multiplier effect for sustainable regional development as a whole.
5
Benko, N. M. "Interrelationship between Human Capital Structure and Investment in Human Capital." Business Inform 10, no. 513 (2020): 96–104. http://dx.doi.org/10.32983/2222-4459-2020-10-96-104.
Abstract:
Empirical researches prove a relationship between investment in human capital and economic growth, but assessing human capital itself, as well as the effectiveness of relevant investments, presents a practical problem. The article is aimed at specifying scientific approaches to generalization of investment objects, components and schemes of human capital formation for the development of a modern theoretical ground for the development of investment in the human capital of the country’s economy. To achieve this aim, the article sets a task of research on types of capital, their content characteristics, structure of human capital, investments in human capital for the needs of management of the national economic system. Important for human capital research is that investments in human capital ensure the growth of the value of human labor, and this is the most important factor in the transformation of the economy, modernization of economic institutions. By this provision is stated that economic growth is not only achieved through technology transfer, investment in physical capital and accumulation of knowledge, but also depends on human capital, including improving people’s health, reducing crime, providing appropriate social climate and institutions, as well as education. Thus, under such conditions, economic development should be considered not only as an increase in economic growth, but also as an investment in human capital ? in the components of its structure. A system-component approach is substantiated, which, unlike the existing one, defines the composition of the structure of human capital and types of investments in human capital, strengths and weaknesses, opportunities and threats of investing in human capital as the main element of productive forces.
6
Tam Bang, Vu. "The Importance of Capital Controls in Vietnam." Journal of Asian Business and Economic Studies 215 (January 1, 2013): 32–46. http://dx.doi.org/10.24311/jabes/2013.215.11.
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This paper provides a simple theoretical framework on the restriction of short-term investments such as stocks, bonds, and other indirect investments while encouraging foreign direct investment (FDI) as a long-term investment. The theoretical results show that a developing country like Vietnam should maintain certain level of capital controls on short-term investments. The paper then provides an empirical study of the five ASEAN countries that are either in the negotiating process or willing to join the Trans-Pacific Economic Partnership with an emphasis on Vietnam. The empirical results show that FDI has positive effect on GDP per capita in these five countries as a group and as individual economies. In contrast, short-term investment has negative effect on GDP per capita in four economies with Singapore as the only exception.
7
Ptáček, Roman. "Capital-protected funds with fixing of realized appreciations." Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis 53, no. 6 (2005): 155–64. http://dx.doi.org/10.11118/actaun200553060155.
Abstract:
Capital-protected funds of collective investments can be adequate investment opportunity for higher risk aversion investors with lower liquidity requirements. These funds always guarantee mostly 100% investment recovery and an appreciation sometimes. It is provided by their investment strategy. The paper is focused on „Click“ funds. These funds do not build on values of underlying assets just on maturity; they allow fixing realized appreciations during duration of the funds. It means higher probability of investment’s appreciation.
8
Sakamoto, Takayuki. "Four worlds of productivity growth: A comparative analysis of human capital investment policy and productivity growth outcomes." International Political Science Review 39, no. 4 (June 11, 2017): 531–50. http://dx.doi.org/10.1177/0192512116685413.
Abstract:
Labor productivity is an important determinant of the wealth of national economies and standards of living, as its growth explains half of per capita GDP growth. I show that there are four worlds of productivity growth among industrialized countries, by decomposing labor productivity growth into multifactor productivity (MFP) growth and capital deepening. The four worlds that emerge from the analysis are: (1) human capital investment- and MFP growth-dominant Nordic countries; (2) physical capital investment- and labor productivity growth-dominant liberal countries; (3) continental European countries whose moderately high human capital investments create decently high MFP growth, but whose low physical capital investments push down their labor productivity; and (4) South European countries with both the lowest human capital investment and lowest productivity growth. The four worlds are a result partly of the countries’ partisan politics, economic growth strategies, and human capital formation policies – different policies add differently to the components of labor productivity.
9
Whittaker, Jean, Humphrey Maine, and Caroline Wilkinson. "Evaluating Capital Investments." Management Research News 13, no. 3/4 (March 1990): 38–40. http://dx.doi.org/10.1108/eb028072.
10
Philippov, A. G., and E. V. Gruzdeva. "Venture Capital Investments Models in Russia and the USA as Key Factor for Development of Innovative Enterprises." MIR (Modernization. Innovation. Research) 10, no. 4 (December 30, 2019): 501–15. http://dx.doi.org/10.18184/2079-4665.2019.10.4.501-515.
Abstract:
Purpose: this article aims to determine key characteristics features of venture capital investments models in the context of the development of innovative enterprises. For this purpose the authors conducted analysis of the current state and key differences of venture capital investments models in Russia and in the USA, determined fields and ways for further improvement of domestic models of venture capital investments.Methods: to achieve the stated goal, theoretical research methods - abstraction, analysis and synthesis were used. Adoption of these methods, led to analysis of the theoretical basis of venture capital investments models and identification of key features having the greatest practical significance. The models of venture capital investments in Russia and the USA were studied, and a quantitative and qualitative comparative analysis of the elements characterizing the models of venture capital investments was carried out. The study was based on the data published by the national associations of venture investors and the information database of venture capital companies Pitchbook.Results: this article reveals the importance of venture capital investments as the main factor affecting the innovative development of the Russian economy. In modern conditions, venture capital investments are a key tool that helps bring financial resources to young innovatively active companies. This article summarizes results of the study of the theoretical base of venture capital investments models and the historical dynamics of venture capital investments in Russia and the USA. A comparative analysis revealed similarities and differences between the following elements, characterizing the models of venture capital investments in Russia and the USA: stages of development of venture capital companies, types of investors and sources of venture financing, distribution of venture investments by industry, exit strategies and organizational forms of venture capital investments. The paper as well summarizes fields and ways for further improvement of models of venture capital investments based on a comparative analysis.Conclusions and Relevance: based on the conducted research and comparative analysis of venture capital investment models in Russia and the United States, the proposals for further improvement of Russian venture capital investment models were developed and presented in the article.
11
Behrman, Jere R., and Ryan Schneider. "An International Perspective on Pakistani Human Capital Investments in the Last Quarter Century." Pakistan Development Review 32, no. 1 (March 1, 1993): 1–68. http://dx.doi.org/10.30541/v32i1pp.1-68.
Abstract:
The objective of this paper is to place Pakistani human capital investments in the past quarter century in an international perspective. As background, a simple analytical perspective is presented first. Then empirical experience from various developing countries is summarised. This relates to some dimensions of the determinants and the impact of human capital investments and related policies. Next, various dimensions of Pakistani human capital investments in schooling and health are compared with the international experience of the past quarter century, controlling for per capita income and initial literacy rates and subject to caveates about such comparisons. These comparisons suggest that, in the aggregate, Pakistan has had relatively low investments in schooling and relatively high investments in health. Consideration of the composition of these investments suggests that, in a comparative sense, Pakistani investments have been skewed towards higher rather than basic education, towards physician-intensive curative rather than basic preventative health care, towards males relative to females, and towards middleand upper-income groups that tend to benefit more from post-primary schooling and from physician-related health services. The concluding section speculates on the implications of this perspective for Pakistani human capital investment policies.
12
Norton, Edgar. "Venture Capital as an Alternative Means to Allocate Capital: An Agency-Theoretic View." Entrepreneurship Theory and Practice 20, no. 2 (January 1996): 19–29. http://dx.doi.org/10.1177/104225879602000203.
Abstract:
The venture capital process is one of many methods of capital allocation. In a capital allocation process, investors acquire funds; potential investments are Identified and reviewed; Investment terms are negotiated; the investment must be monitored and ultimately harvested. The capital allocation process is full of potential agency problems. The venture capital process In particular provides a rich setting for the analysis of agency cost issues. This paper reviews the capital allocation process that occurs in venture capital investments. Suggestions are made for future research to study the role that agency cost issues play In the venture capital process.
13
Chen, Sheng-Syan. "The Economic Impact of Corporate Capital Expenditures: Focused Firms versus Diversified Firms." Journal of Financial and Quantitative Analysis 41, no. 2 (June 2006): 341–55. http://dx.doi.org/10.1017/s002210900000209x.
Abstract:
AbstractThis paper examines the role of focus versus diversification in explaining the economic impact of corporate capital investments. I find that the stock market's responses to announcements of capital investments are more favorable for focused firms than for diversified firms. I also show that focused firms exhibit significantly better post-investment operating performance than diversified firms. The overall findings in this study suggest that the investment opportunities hypothesis dominates the internal capital markets hypothesis in terms of the net economic impact of capital investments on the investing firms.
14
Anwer, Zaheer, Alam Asadov, Nazrol K. M. Kamil, Mehroj Musaev, and Mohd Refede. "Islamic venture capital – issues in practice." ISRA International Journal of Islamic Finance 11, no. 1 (June 17, 2019): 147–58. http://dx.doi.org/10.1108/ijif-06-2018-0063.
Abstract:
Purpose This paper aims to explore the structure and underlying contracts of Islamic venture capital (IVC) and to evaluate its prospects. VC can be perceived as an investment vehicle possessing most of the desirable attributes of a Sharīʿah-compliant investment vehicle. There are certain issues involved in the formation, operations and exit strategies of these investments that are discussed in detail in this paper. Design/methodology/approach A detailed review of relevant literature is performed to identify how IVC investments can be made and how related issues may be resolved. Findings IVC investment has potential of incorporating Sharīʿah-compliant investment modes. Additionally, it may offer higher than average returns. These attributes can be desirable for Islamic finance industry that is currently in need of equity-based financing products. The major causes of lesser growth of IVC investments are lack of awareness among the investors and the absence of viable investment opportunities for small- and medium-scale investors. IVC may attract general public if established after extensive research aimed at introducing innovative products. Originality/value This paper provides an overview of a truly Sharīʿah-compliant investment vehicle, furnishes a synthesis of various suggestions made by industry and academia and suggests viable solutions for valuation, risk management and exit strategies.
15
Olievska, Myroslava, and Arthur Romanov. "INVESTMENTS IN HUMAN CAPITAL DEVELOPMENT AND WAGES: RELATIONSHIPS AND PROBLEMS IN LOWER-MIDDLE-INCOME COUNTRIES." Baltic Journal of Economic Studies 7, no. 1 (January 22, 2021): 77–83. http://dx.doi.org/10.30525/2256-0742/2021-7-1-77-83.
Abstract:
The purposes of the article are to assess the impact of financing of education and health to human capital development, to consider the relationship among wages and investment in human capital, to establish directions of improvement of the investments in human capital development in Ukraine and other lower-middle-income countries. Methodology. Methodological basis of the research is the study of the dynamics of such indicators as the Human Capital Index 2020, wages, GNI per capita, education expenditure, government expenditure, financing of health, the wages of full-time employees. To solve the problems arising from the purpose of the study, systemic method (when analyzing the relationship of the investments in human capital development and wages), statistical methods of comparisons, economic analysis (when processing statistics), historical method (in the study of the evolution of Human Capital Index, expenditures on health and education), empirical and correlation-regression analysis (in the analysis of the practice of investments in human capital development) have been used. Results. The human capital is a central driver of sustainable growth and poverty reduction. The article proves that high-income countries can better finance the development of human capital; they are the leaders of the Ukraine Index 2020, more human capital in high-income countries is associated with higher earnings for people, higher income for countries, and stronger cohesion in societies. At the same time, the article substantiates that the low level of GNI per capita (3370 USD in Ukraine) and insufficient level of education and health expenditure negatively affect formation of human capital (the 53rd place in the Human Capital Index 2020). On the basis of the study of government and non-government expenditure on education and health, it has been concluded that investments in human capital are the effective tool to increase of the wages of full-time employees. Practical implications. Today human capital gains in many countries are at risk, especially in lower-middle-income countries. Features of the current socioeconomic situation require strengthening of investments in human capital development. The main steps that are necessary to undertake for implementing changes in the investments in human capital development have been determined in the article. They are the following: optimization of state financing of human capital; creation of fiscal space; creation of regional funds for financing human capital development; creation of strategic alliances and partnerships; supporting the demand for education and health care from households. Value/originality. The relationships between investments in human capital development and wages in the lower-middle-income countries are analytically proved. The complex of actions on optimization of financing of human capital has been generalized.
16
Harrison, Richard T., Babangida Yohanna, and Yannis Pierrakis. "Internationalisation and localisation: Foreign venture capital investments in the United Kingdom." Local Economy: The Journal of the Local Economy Policy Unit 35, no. 3 (May 2020): 230–56. http://dx.doi.org/10.1177/0269094220924344.
Abstract:
Venture capital plays a significant role in economic development through the emergence of new firms, technologies, industries and markets. This role, however, is associated with systemic uneven development regionally as both the supply of venture capital and the investment in new and growing ventures is highly concentrated regionally in the core economic regions of a country. Over the past decade, this intra-national regional concentration has been accompanied by an increasing internationalisation of the venture capital industry, as cross-border investment becomes more significant. In this paper, we explore the implications of this internationalisation for regional economic development in the UK. We conclude that the geography of venture capital in the UK has been shaped since the turn of the century by a significant increase in venture capital investments made by foreign funds, mainly in the form of co-investments with local funds. These foreign venture capital investments are primarily concentrated in London, Southeast England and East of England, which collectively attracted 82.5% of all foreign venture capital investments made to UK companies in 2017, strongly reinforcing the existing spatial concentration of venture capital investment. The paper concludes by questioning whether this increased dependency of these regions on foreign venture capital matters to regional development and draws out some of the implications for public policy.
17
Conradie, E., Frederik J. Mostert, and Jan Hendrik Mostert. "The financing of envisaged capital investments in South Africa." Corporate Ownership and Control 11, no. 2 (2014): 583–90. http://dx.doi.org/10.22495/cocv11i2c6p5.
Abstract:
The envisaging of capital investments is of prime importance for the economic growth and business development of a country, as it represents the starting point of the entire capital investment process. This paper focuses on the financing of envisaged capital investments and addresses amongst others the various sources of financing and the finance cost thereof, the related capital structure theories, as well as the determinants of the capital structure of an enterprise, which comprise of the economic and firm-specific factors. The objective of this research paper embodies the improvement of the financing decision-making when enterprises are envisaging capital investments. A literature study provided the secondary data and formed the basis of this research. To achieve the research objective, an opinion survey was done to obtain the perceptions of the business leaders in South Africa regarding the importance of the economic and firm-specific factors for the financing of envisaged capital investments, the associated problem areas as perceived by the firms, as well as the frequency of envisaging various types of capital investment projects by the respondents
18
GUZHEV, Dmitrii A. "Methodology for calculating the net present value of investment project, taking into account the variability of determining the cash flow of capital investments." Finance and Credit 28, no. 9 (September 29, 2022): 2016–31. http://dx.doi.org/10.24891/fc.28.9.2016.
Abstract:
Subject. The article considers the variability of determining the cash flow of capital investments and methodology for calculating the net present value (NPV) of an investment project, taking into account the said variability. Objectives. The aim is to propose a methodology to calculate NPV, given the influence of variability in determining the cash flow from investing activities in terms of outflows, i.e. the required volume of investments to create new fixed assets. Methods. The study employs generally accepted scientific methods of information analysis and synthesis. Results. I analyzed modern domestic and foreign approaches and methods for calculating NPV of an investment project, formulated the concept of cash flow of capital investments, offered my own methodology for its variable determination. The methodology for NPV calculation covers three scenarios of investment project implementation: baseline, optimistic and pessimistic. The paper includes the impact analysis of variability of the determination of cash flow of capital investments on NPV of investment project. Conclusions. The paper defines the nature of the influence of variability in determining the cash flow of capital investments on the NPV of an investment project. The findings can be used to calculate and plan targeted indicators of investment performance (NPV), when evaluating and implementing investment projects, regardless of sources of financing.
19
Tsiutsiak, Ihor, and Andriy Tsiutsiak. "ACCOUNTING OF REGISTERED CAPITAL IN ENTERPRISES WITH FOREIGN INVESTMENTS." Economic Analysis, no. 32(1) (2022): 95–101. http://dx.doi.org/10.35774/econa2022.01.095.
Abstract:
Introduction. The article analyzes the norms of current legislation in the field of foreign direct investment and taxation of transactions caused by the introduction of founding foreign investment. The essence of enterprises with foreign investments is revealed and the manifestations of foreign investment are determined. The procedure for making foreign investments in the authorized capital of business structures is outlined. Forms of foreign investment are described. The sources of equity formation of enterprises with foreign investments are given. Peculiarities of deposits to enterprises with foreign investments are determined. Emphasis is placed on the fact that the founders of enterprises with foreign investment have the opportunity to make contributions to the authorized capital with both cash and non-financial assets. The procedure for evaluating founding investments has been studied. The order of accounting reflection of formation of the authorized capital of the enterprises with foreign investments is outlined. The peculiarities of accounting and reporting of the founders' contributions to the authorized capital of enterprises with foreign investment are revealed. It is determined that the recognition of liabilities of non-resident founders for contributions to the authorized capital in foreign currency are both monetary and non-monetary balance sheet items. The method of accounting for positive and negative exchange rate differences is presented. Goal. Elucidation of the order of accounting reflection of the authorized capital at the enterprises with foreign investments and expression of offers on improvement of the account of the researched object. Method (methodology). General scientific methods (analysis, synthesis, induction and deduction), empirical theoretical (formalization, hypothetical) and empirical methodological methods of research (computational and analytical, implementation of results in practice, reporting of economic activity). Results. In order to accurately account for information on exchange differences, recognition of the founders' obligations on contributions to the authorized capital in foreign currency, it is proposed to reflect them in a separate analytical account, which should be opened in sub-account 423 "Accumulated exchange differences". Proposals have been made to improve the order of reflection in the accounting system of enterprises with foreign investment, exchange rate differences recognized as a result of revaluation of liabilities of non-resident founders on contributions to the registered capital.
20
Posza, Alexandra. "REAL OPTION ANALYSIS OF VENTURE CAPITAL INVESTMENTS." Balkans Journal of Emerging Trends in Social Sciences 3, no. 1 (June 30, 2020): 64–77. http://dx.doi.org/10.31410/balkans.jetss.2020.3.1.64-77.
Abstract:
Venture capital investments play an important role in the development and growth of start-up companies that are characterized by a high degree of uncertainty and growth potential, and venture capital is also one of the major sources of financing for entrepreneurial businesses. In the case of venture capital investment, staging has a huge potential, so the venture capitalists keep the right to participate in further financing rounds. The real option approach as an evaluation method provides an opportunity to evaluate this kind of investment with the help of flexibility in the case of a high degree of uncertainty. The paper puts the emphasis on the evaluation and the effectiveness of venture capital investments primarily from the aspect of real option theory tested on Hungarian venture capital cases. The paper concludes that the option-based valuation methods are more suitable for evaluating venture capital investments than others, especially the discounted cash flow method.
21
Khan, Arshad M. "Modelling venture capital investments." Technovation 6, no. 1 (April 1987): 25–35. http://dx.doi.org/10.1016/0166-4972(87)90036-8.
22
Zamaraev, B. A., and T. N. Marshova. "The effectiveness of the investment process of reproduction." Voprosy Ekonomiki, no. 5 (May 13, 2020): 45–68. http://dx.doi.org/10.32609/0042-8736-2020-5-45-68.
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The article analyzes the effectiveness of the investment process in Russian economy, which is assessed using indicators of specific capital investments for introduction of production capacities. The dynamics and characteristics of changes in specific capital investments for various types of economic activity of Russian industry are analyzed. The main groups of factors that determine the change in specific capital investments are identified. It is concluded that, in the medium term, the state of the economy with a significant share of extractive industries will continue to have a decisive influence on the dynamics of specific capital investments, and objective processes of depletion of the mineral resource base and worsening production conditions will increase specific capital investments. The continuation of the noted trends will determine the requirements for the volume and structure of investments to ensure the reproduction of the industrial potential and increase its technical and technological level.
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Laiko, Oleksandr, and Borys Burkynskyi. "METHODOLOGY OF INVESTMENT SYSTEM RESEARCH IN THE ASPECT OF UNPRODUCTIVE CAPITAL OUTFLOW: EXAMPLE OF UKRAINE AND INTERNATIONAL DIMENSION." Baltic Journal of Economic Studies 7, no. 1 (January 22, 2021): 57–68. http://dx.doi.org/10.30525/2256-0742/2021-7-1-57-68.
Abstract:
The relevance of the topic of development of theoretical and methodological approaches to investment system regulation under influence of unproductive capital outflow is justified by significance of financial capital movements from groups of countries to others, caused by inappropriate institutional support for strategic investments. Aim of the proposed research is the development of methodological approaches to study and regulation of investment system development that allow to provide analysis of actual modern tendencies of investment system development, to estimate the influence of capital outflow on financial provision of investment process and to design regulating framework for shortening of unproductive financial capital outflow. The work is dedicated to research of theoretical, methodological and applicable basis of investment system development regulation in aspect of reducing of unproductive financial capital outflow with calculation of possible effect from involvement of reduced volumes of capital outflow into investment process. The research methodology, which is based on sustainable development and principle of balance of the stakeholders’ interests, includes approaches of system, theoretical and empirical analysis that allows us to identify the sense and structure of investment system in a sample of Ukraine and other 11 countries. Due to the statistical and econometric methods the estimation of the dynamics and regularities of capital investments are explored and the role of financial capital outflow in economic development of the country is estimated as percentage of GDP and as potential implicit resource that can be involved in investment process. The authors propose the methodology of investment system research and regulating from positions of institutional support embittering for renewal of invested capital and for attraction of new strategic investors. The provided systematization of theoretical positions in the sphere of investments and capital migration allows to obtain the definition of sense of investment system, to discover the regularities of its development and to identify the phenomenon of unproductive outflow of financial capital. It is found that the main criteria of unproductivity of capital outflow is excess of losses and expenses for national economy, caused by such migration of resources, under possible benefits. Conclusion. The hypothesis of existence of direct positive dependence of unproductive outflow of financial capital from growth of the national economic is proved in a sample of Ukraine due to the use of empirical statistical study method. It is identified that the key factor that provokes capital outflow is inappropriate institutional support for strategic investments. The proposed model of estimation of correlation between capital investments and value added allows to calculate the possible economic, social, and budgetary effect from involving into economy of Ukraine investments saved from outflow, that can result in more than 22.6 bln USD of value added growth.
24
Jørgensen, Steffen, Peter M. Kort, and Engelbert J. Dockner. "Venture capital financed investments in intellectual capital." Journal of Economic Dynamics and Control 30, no. 11 (November 2006): 2339–61. http://dx.doi.org/10.1016/j.jedc.2005.07.005.
25
Waldman, Michael, and Ori Zax. "Promotion Signaling and Human Capital Investments." American Economic Journal: Microeconomics 12, no. 1 (February 1, 2020): 125–55. http://dx.doi.org/10.1257/mic.20180285.
Abstract:
In a world characterized by asymmetric learning, promotions can serve as signals of worker ability, and this, in turn, can result in inefficient promotion decisions. If the labor market is competitive, the result will be practices that reduce this distortion. We explore how this logic affects human capital investment decisions. We show that, if commitment is possible, investments will be biased toward the accumulation of firm-specific human capital. We also consider what happens when commitment is not possible and show a number of results including that, if investment choices are not publicly observable, choices are frequently efficient. (JEL D82, J24, J31, M12, M51)
26
Vaicondam, Yamunah, and Ramakrishnan Ramakrishnan. "Capital structure, capital investment and profitability among Malaysian listed firms." International Journal of Engineering & Technology 7, no. 4.9 (October 2, 2018): 14. http://dx.doi.org/10.14419/ijet.v7i4.9.20609.
Abstract:
Capital investments are referred as a critical managerial decision on firm's fixed asset for generating profitability. However, the empirical finding shows that not every capital investment has a significant positive effect on profitability. Literature indicates mixed results of examining the capital investment relationship with firm's profitability, which vary in respects to the debt structure. On the other hand, strong government reinforcement has pushed Malaysia up as one of the top ten countries with robust private capital investment in the year 2004. Since the capital investments are typically irreversible and hypothesized as profit generator, the first aim of this study is to examine the effect of the capital investment on the firm's profitability across firms and sectors. The second aim is to examine the moderating effect of capital structure on the relationship between capital investment and profitability across firms and sectors. This study utilized pooled ordinary least squares and fixed effect analysis across 708 non-financial Malaysian listed firms. The unbalanced datasets for the period 2001 to 2015 were employed to check the robustness of these results. This study suggested that capital investment has a strong significant positive effect on profitability measurements across Malaysian listed firms in non-financial sectors. On the other hand, the significant negative moderating effect of capital structure on the relationship between capital investment and return on capital across Malaysian listed firms reflected the perspective of empire building theory. In addition, the independent sample test engaged across sectors affirmed that moderating effect of capital structure are different across sectors. Thus, this study concluded the existence of moderating effect of capital structure on the relationship between capital investment and profitability. This study addressed the knowledge gap on the moderating effect of capital structure based on empire building theory.
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Xudoyberdiyevich, Xurramov Eshmamat. "Investment in Agriculture and Increasing Its Efficiency." International Journal for Research in Applied Science and Engineering Technology 9, no. 10 (October 31, 2021): 182–84. http://dx.doi.org/10.22214/ijraset.2021.38370.
Abstract:
Annotation: Investments are made in any socio-economic formations. Because they are spent on strengthening the state, the industry, enterprises, and, finally, the economic base of the population. It is an objective necessity to invest in the development of agriculture in the Republic of Uzbekistan, where a free market economy is gradually being formed. In this article, we will learn about investment and capital investment in agriculture and how to increase their efficiency. Keywords: investments, population, efficiency, capital investments.
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Vrachovska, Mariya. "Determinants of Security in Venture Capital Transactions." Socio-Economic Analyses 14, no. 1 (June 30, 2022): 82–90. http://dx.doi.org/10.54664/pduc9212.
Abstract:
In today’s modern, dynamically changing and globalized economy, venture investments as a specific technique for financial and organizational construction of investment ventures have established themselves as a significant segment of the market for economic activity. The thesis presented in this study is that, when being invested, venture capital does not bring a higher degree of uncertainty and risk in comparison to other traditional and alternative sources of capital investment. Venture investments are analyzed through the prism of the theory of information asymmetry, and, on this basis, the parameters ensuring security of the venture investor are identified.
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McGrattan, Ellen R., and Edward C. Prescott. "Technology Capital and the US Current Account." American Economic Review 100, no. 4 (September 1, 2010): 1493–522. http://dx.doi.org/10.1257/aer.100.4.1493.
Abstract:
The US Bureau of Economic Analysis (BEA) estimates that the return on investments of foreign subsidiaries of US multinational companies over the period 1982–2006 averaged 9.4 percent annually after taxes; US subsidiaries of foreign multinationals averaged only 3.2 percent. BEA returns on foreign direct investment (FDI) are distorted because most intangible investments made by multinationals are expensed. We develop a multicountry general equilibrium model with an essential role for FDI and apply the BEA's methodology to construct economic statistics for the model economy. We estimate that mismeasurement of intangible investments accounts for over 60 percent of the difference in BEA returns. (JEL F23, F32)
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Popov, Aleksei Yur'evich, and Tat'yana Vladimirovna Shutova. "Innovations in accounting for capital investments." Теоретическая и прикладная экономика, no. 1 (January 2022): 40–49. http://dx.doi.org/10.25136/2409-8647.2022.1.35271.
Abstract:
This article discusses the issues of identification, recognition, initial and subsequent assessment, write-off, as well as reflection in accounting and financial statements of capital investments in accordance with the current regulatory framework and the new federal accounting standard 26/2020 "Capital Investments", which is being implemented from 2022. The object of the study is the issues of improving the accounting of these assets, and the subject of the study is a set of provisions on accounting and financial reporting of capital investments in modern accounting of economic entities. Attention is paid to the problems and criteria for the recognition of these assets, the justification of the definition of costs that form the cost of capital investments, issues of impairment and other fundamental issues that need updating. The main conclusions of the study are the marked positive trend in the convergence of the Russian rules of accounting for capital investments in accordance with international financial reporting standards, which will make the reporting of Russian enterprises accessible to the international community, attract investment in the Russian economy and strengthen the security of the Russian Federation on the world stage. The scientific novelty of the research lies in the theoretical and methodological substantiation of the methodology of identification, recognition, evaluation and reflection in accounting and reporting of capital investments in accordance with the new federal accounting standard being put into effect. A special contribution of the authors lies in the comparative analysis and formulation of the directions of adaptation of the accounting policy of economic entities in accordance with changes in accounting legislation in relation to capital investments.
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Sotnikova, L. V. "Capital investments acquired under a barter agreement." Buhuchet v zdravoohranenii (Accounting in Healthcare), no. 12 (December 12, 2022): 15–25. http://dx.doi.org/10.33920/med-17-2212-02.
Abstract:
The article discusses the features of the evaluation of capital investment objects in the case when the acquisition, creation, improvement and restoration of such objects occurs under a barter agreement. The peculiarity is that the costs forming the object of capital investments should be assessed at fair value, depending on the situation — transferred or received property, property rights, works and services. Despite the declaration of convergence of Russian federal accounting standards with International Financial Reporting Standards on the valuation of capital investment objects under a barter agreement, there are discrepancies between the requirements of IFRS (IAS) 16 “Fixed Assets” and FSB 26/2020 “Capital Investments”. The article uses examples to reveal discrepancies in the estimates of capital investments in future fixed assets. The article uses examples to reveal discrepancies in the estimates of capital investments in future fixed assets. During the research, such methods as analysis and synthesis, comparison, grouping, analogy, logical and systematic approaches were used. The research results obtained in this article can be applied in the practical work of accounting departments of modern organizations, in the educational process of higher educational institutions and in the development and reform of regulatory documents on accounting and reporting. The results presented in this paper will also be useful to a wide range of readers interested in modern problems of accounting and reporting at the domestic and international level (including accounting problems in healthcare organizations).
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Izyumova, O. N., and T. A. Krylova. "ANALYSIS AND STRUCTURE OF RUSSIAN DIRECT INVESTMENTS ABROAD." Scientific bulletin of the Southern Institute of Management, no. 3 (September 30, 2017): 9–15. http://dx.doi.org/10.31775/2305-3100-2017-3-9-15.
Abstract:
This article analyzes direct investments. Currently, with the development of market relations and the strengthening of international relations, the objective trends in the growing volume of the export of Russian capital, the increase in its scale and the size of foreign assets, the consolidation of Russian companies in the promising segments of the world market, makes the article relevant and important for consideration. For a more precise presentation of the present situation, the structure of capital flows, in the context of economic entities, as well as statistical data on regulatory measures for foreign direct investment, are provided. The analysis revealed an unfavorable situation on the world investment market for the Russian Federation. The outflow of foreign direct investment from countries with economies in transition tends to decline. Carrying out the analysis of investments it is impossible to bypass. It should be noted that the structure of the capital exported from Russia differs from the similar structure of states with a progressive market by the fact that the share of other investments approximates to the share of foreign direct investment, and this trend increases dramatically in the period of instability. A clearer idea allows us to obtain a detailed analysis of the outflow of Russian investments and the inflow of foreign capital, as given in the paper. The article allows to consider the structure and present position of Russian direct investments and foreign capital.
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Vatamaniuk-Zelinska, Uliana. "Increasing the efficiency of budget investment of entrepreneurial activity in Ukraine." INNOVATIVE ECONOMY, no. 7-8 (November 2019): 85–91. http://dx.doi.org/10.37332/2309-1533.2019.7-8.12.
Abstract:
Purpose. The aim of the article is identification of budget investment trends in Ukraine and development of recommendations for increasing the efficiency of capital investments as the main form of budget investments in the development of domestic entrepreneurship. Methodology of research. The results of the study are based on the use of abstract and logical analysis (to determine the essence of capital investments as the main form of budget investment in the development of domestic entrepreneurship in Ukraine) and statistical analysis (to study the dynamics of budget investment from state and local budgets). Theoretical and methodological basis of the study is the key provisions, principles and methods of modern economic theory, finance and economics. Findings. It is established that in order to increase the efficiency of capital investments as the main form of budget investments in the development of domestic entrepreneurship, there is a need to apply transparency of evaluation and competitive selection of investment projects and programs for the development of territories aimed at activating and stimulating entrepreneurial activity in priority areas. The use of step-by-step financing of budget investments from the budget of development of local budgets is substantiated, provided that medium-term and therefore strategic expenditure planning is implemented. It is proposed to reimburse interest rates on loans for entrepreneurs who implement priority development projects of the territories, creating new jobs in accordance with the strategy of modernization of the system of social support for the population, which will allow to increase the efficiency of budget investment at the level of all regions of our country. Originality. Recommendations for increasing the efficiency of capital investments as the main form of budget investment in the development of domestic entrepreneurship by establishing the lease of land as the difference between the actual rent and the amount of a single tax from the entrepreneurs of group IV are developed. Practical value. The results of the conducted study can be used by domestic enterprises and local governments to stimulate the development of entrepreneurial activity. This will increase the financial and economic efficiency of local budget revenues from agricultural land operations, either at the lower rent level or at the lower single tax rate. Key words: capital investments; budget investments; budget; financing; strategic planning; entrepreneurship.
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Garkushenko, Оksana. "Economic and mathematical modelling of investments in Ukraine." Economy of Industry 3, no. 99 (September 30, 2022): 41–56. http://dx.doi.org/10.15407/econindustry2022.03.041.
Abstract:
Investments, primarily in manufacturing, are a guarantee that enterprises will be able to update their production assets in a timely manner and maintain or even strengthen their position in markets of goods and services. However, the issue of defining factors that affect the volume and dynamics of investments is quite problematic, which makes it difficult to create appropriate economic and mathematical models. Foreign and Ukrainian scientists have long been engaged in determining such factors. Usually, they include: GDP per capita of the country; the rate of economic growth; national savings; currency exchange rate; inflation; discount rate; the level of tax burden (primarily – corporate income tax); the price index for industrial products; the level of income on invested capital (return on investment coefficient); wages; labor productivity, etc. But in each country, the strength of influence of different factors may vary. The process of modeling investments is also complicated by the fact that some factors (for example, GDP per capita) are complex in themselves and depend on other factors. Therefore, the objective of this paper is to define the factors influencing investment in Ukraine and to develop appropriate economic and mathematical models, which are supposed to be used in the future to build a comprehensive system-dynamic model of the impact of digitalization on ensuring sustainable development of Ukraine. Such a comprehensive model can become not only a convenient tool for determining the consequences for industry of changes in investment volumes under the influence of various factors, but also the level of Labor morbidity and environmental pollution. According to results of the study, it was found that the volume of investment in the Ukrainian industry is most affected by the NBU discount rate. The paper suggests an appropriate investment model and justifies its adequacy. Investments in industrial digital capital are influenced by the factors of the US dollar index and tax burden, and investments in environmental digital capital are affected by factor of tax burden. However, due to the very approximate statistics on which the calculations were performed, the corresponding models are not reliable. Taking into account the results of the study, recommendations for the development of a methodology for collecting and presenting statistical information related to investments in digital equipment and technologies by enterprises of the country and digital capital for environmental and industrial purposes (by structure) are made. Their implementation will make it possible to make more accurate calculations in the future and create more reliable economic and mathematical models that can become a convenient tool for defining the directions of development of the country's economy.
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Kim, Sungsoo, and Brandon byunghwan Lee. "The value relevance of capital expenditures and the business cycle." Studies in Economics and Finance 35, no. 3 (August 6, 2018): 386–406. http://dx.doi.org/10.1108/sef-03-2017-0063.
Abstract:
Purpose This paper aims to clarify the relationship between corporate capital investments and business cycles. Specifically, a major purpose of this paper is to investigate whether there are inherent differences in corporate investment patterns and whether the stock market exhibits different reactions to the value relevance of capital expenditures across different business conditions. Design/methodology/approach The authors use pooled ordinary least square regressions with archival stock price data and financial data from CRSP and Compustat. The authors regress buy and hold returns on the main test variables and control variables that are identified to be related to the investment literature. Findings This paper provides empirical evidence that US firms’ capital expenditures are more value relevant to capital market participants during expansionary business cycles and, conversely, less value relevant during contractionary business cycles. This evidence validates previous literature that has found the information content of capital expenditures to be uncertain and cyclical in nature. Research limitations/implications The main limitation of this paper, as with other work dealing with stock returns and archived financial data, is that the authors try to match stock returns with contemporaneous financial data in an association study context. The precise mapping in this methodology is always challenging and has been questioned in the literature. Practical implications This paper has various implications for capital market participants. Capital expenditures are good news for investors, but they will make a better investment when firms make capital investments during an expansionary period. Creditors deciding whether to extend credit to firms would benefit from more accurate information on the viability of long-term investment. The results also suggest to creditors that an excessive number of loans during the contractionary period may be suboptimal because firms’ returns on capital investment are smaller in that period than in the expansionary period. Social implications Given the valuation of implications of long-term capital investments across different business conditions, this paper sheds light on asset allocations for mutual funds, institutional investors who are entrusted with investors’ investments including retirement funds. Originality/value This paper fulfils an identified need to study how capital investments are valued differently across different business conditions.
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Kovalchuk, N. О., K. A. Smolnikova, and K. I. Zhaloba. "The Value and Content of Investment and Innovation Activities of Domestic Enterprises." Business Inform 10, no. 513 (2020): 89–95. http://dx.doi.org/10.32983/2222-4459-2020-10-89-95.
Abstract:
The article is aimed at deepening the scientific-methodological principles of management of investment and innovation activities and analyzing its current status in Ukraine. Investment and innovation activity is peculiar to any enterprise, representing one of the most important aspects of its development. The article covers the peculiarities of interpretation of the concept of «investment and innovation activity». It is defined that a single point of view has not yet been yielded among both domestic and foreign scholars. On the basis of the analysis of their approaches to defining the concept of investment and innovation activity, the major key characteristics of the interpretation are allocated. A classification of forms of investment activity in the sphere of innovation has been formed. It is noted that today’s research on the problems of innovation and investment development becomes of particular relevance, because it is very important to find ways to improve the management of innovations, investments and the innovation-investment development. The current status of investment and innovation activity in Ukraine is analyzed. It is specified that nowadays the dynamics of investments in the economy of our country has gained a positive tendency. The dynamics of capital investments by sources of financing during 2010-2019 are characterized by the prevailing own funds of enterprises and organizations, whose share ranged from 60% and up to 70%. It is determined that the structure of capital investments by types of assets is characterized by the prevailing investments in tangible assets, while the least funds are invested in water supply, sewerage, waste management. The trend of fixed capital investing also has positive changes, although the turning point was 2008, after which there is no clear dynamics in the growth of fixed capital investments. After estimating the situation in the investment and innovation sphere of Ukraine, the authors have formed the main categories of problems that worsen its development.
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Mazelis, Lev S., Andrey A. Krasko, and Elena V. Krasova. "Distribution of financial resources by areas of investments in the human capital of the region." Economic Consultant 36, no. 4 (December 1, 2021): 4–16. http://dx.doi.org/10.46224/ecoc.2021.4.1.
Abstract:
Introduction. The study has been conducted within the framework of the urgent scientific and practical task of accumulation and development of human capital of Russian regions. Under the conditions of risks and limited resources, the regional management faces the task of optimal distribution of financial resources invested in the development of human capital and improvement of the quality of life. The study aims to build and test the dynamic optimization model of financial resources distribution by areas of investment in human capital through the example of the Primorye Territory (Russian Federation). Materials and methods. The multi-period economic and mathematical model describes the influence of the volumes and structure of public and private investments on the regional human capital in the form of recurrent dependencies. The target function of the model is an integrated index of achieving the objectives for the development of human capital in the region. The model is a mathematical programming problem, the optimization variables are the shares of investment resources distributed by investment areas and years. Results. In a practical sense, the proposed model is a management tool for searching the optimal structure of investments in human capital by areas of investment and periods. Based on the annual results of modeling and numerical calculations through the example of the Primorye Territory (Russian Federation), the structure of the investments that allow advancing in the achievement of target values of strategic indicators in the field of human capital development is offered. Conclusion. In the long term, the achievement of target indicators will be facilitated by a more even structure of investments in the following areas: along with education and health care, it is advisable to increase investments in other areas, first of all, in the issues of national importance, national security, public order, and social policy.
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Tikhonova, Anna V. "Development of Tax Incentives for Investments in Human Capital." Financial Journal 15, no. 1 (February 2023): 116–33. http://dx.doi.org/10.31107/2075-1990-2023-1-116-133.
Abstract:
The article discusses the basics of building a system of tax incentives for investments in human capital, capable of ensuring economic growth of the Russian Federation. The relevance of this issue is explained by three circumstances: first, investment in human capital is a key tool for protecting workers from the adverse effects of automation; second, human capital accumulation is closely correlated with income inequality and poverty levels; third, it is a key factor in stimulating rapid economic growth. The purpose of the study is to work out directions of development of tax incentives for investments in human capital on the basis of review and systematization of domestic and foreign literature. In accordance with the goal, the following tasks are defined: to identify areas of taxation influence on human capital formation; to formulate the principles of tax stimulation of investments in human capital; to characterize the tax instruments stimulating growth of investments in human capital; to highlight the state approaches to tax stimulation of investments in human capital of individuals. The scientific literature in the field of human capital development and tools for its regulation was analyzed, and the use of tax incentives was substantiated. The principles of tax stimulation of investments in human capital are formulated and described: the principle of risk minimization, the principle of multidirectionality by subjects of stimulation, the principle of differentiation by types and forms of human capital, and the principle of systemic measures of state support. The study presents three groups of tax incentives focused on the identified areas of impact and taking into account the formulated principles of stimulating investments in human capital.
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Rendel, J. M., A. D. Mackay, and P. Smale. "Valuing on-farm investments." Journal of New Zealand Grasslands 77 (January 1, 2015): 83–88. http://dx.doi.org/10.33584/jnzg.2015.77.488.
Abstract:
The challenge of maximising the value of an onfarm investment is dependent on two factors: first, ensuring the full potential of the investment is realised by adjusting current practices to capture the gains; and second, the challenge of isolating, quantifying and valuing the contribution that investment makes to the whole farm business. A new generation farm optimisation model (INFORM) addresses both these issues. Two distinctly different on-farm investments, planting of a forestry block and sowing a multi-year forage crop, both on a hill country sheep and beef operation, are presented to illustrate the capability the model has for first optimising the investment and then using this information to conduct a farm system capital investment investigation. The investment analysis includes consideration of the capital requirements, and also calculates the maximum amount that can be spent on each of the investments to add value to the current business. Keywords: farm system analysis, investment, NPV, optimisation, INFORM
40
Pinkovetskaia, Iuliia S., Natalia G. Komissarova, Anton V. Lebedev, and Larisa V. Tsybina. "Comparative analysis of fixed capital investments in the regions of Russia." Cuestiones Políticas 40, no. 72 (March 7, 2022): 297–312. http://dx.doi.org/10.46398/cuestpol.4072.16.
Abstract:
The aim of the research was to assess the specific levels of fixed capital investment per capita in all regions of Russia. The research was based on official 2019 statistics on the volume of fixed capital investments in 82 regions of Russia, as well as data on the population. In the research, the analysis of clusters associated with the unification of the objects studied in relatively homogeneous groups based on the study of the values of the compared indicators was applied. The normal distribution function was used in modelling to estimate the distribution of specific values for most regions. The following results and conclusions were obtained: it has been shown that the formation of five groups is optimal. In addition, it was shown that in 2019 nine regions were characterized by an extremely high level of investment due to the tasks of their strategic development to meet federal challenges. They also identified regions with relatively low values of specific investments in fixed assets. Everything indicates that specific investment values have a significant differentiation in several regions of Russia.
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Nzilani Muema, Jacinta, Job Omagwa, and Lucy Wamugo. "Equity Investments, Bond Investments and Financial Performance of Collective Investment Schemes in Kenya." International Journal of Finance & Banking Studies (2147-4486) 10, no. 3 (September 23, 2021): 104–14. http://dx.doi.org/10.20525/ijfbs.v10i3.1352.
Abstract:
The collective investment schemes in Kenya have witnessed increased volatility in their earnings, resulting in irregular growth in the industry. This necessitates the need to understand the factors contributing to poor financial returns from collective investment schemes. Hence this study sought to investigate the effect of equity investments and bond investments on Kenyan CIS’s performance. The specific objectives were: To assess the effect of equity investments, bond investments on financial performance of collective investment schemes in Kenya. The study was anchored on: modern portfolio theory and the efficient market hypothesis. The positivism philosophy was applied, with the firms adopting an explanatory research design. The target population was 17 Collective Investment Schemes registered by the Capital Markets Authority and were operational in the period 2010 to 2018. Secondary data was sought from the Capital Markets Authority Annual reports and from the respective websites of the CIS’. Data was analyzed using descriptive statistics, correlational analysis and panel regression analysis. Hypotheses were tested at a significance level of 0.05. Findings indicate that equity investment, bond investments have an insignificant effect on CIS’ return on assets. Further, equity investments had a positive and significant effect on liquidity whereas bond investments had an insignificant effect on liquidity. The study recommends that CISs actively revise their equity investments and bond investments to stimulate financial returns.
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Kuternin, Mikhail I., and Aleksandr A. Silaev. "OPTIMIZATION OF INVESTMENT PROCESSES FOR THE DEVELOPMENT OF THE OIL INDUSTRY." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 9/1, no. 129 (2022): 101–7. http://dx.doi.org/10.36871/ek.up.p.r.2022.09.01.010.
Abstract:
The article develops a methodology of determining the optimal indicators of the investment program for the development of the region oil industry. The issues of assessing the effectiveness of capital investments in the exploration and development of oil fields, taking into account the delayed and distributed over time impact of such investments on the volume of crude oil production, were investigated. The methodological basis of the study is mathematical modeling of investment processes in the oil industry using distributed lag models. Much attention is paid to the study of the influence of random factors on the effectiveness of capital investments and the parameters of the optimal investment program. The article develops a methodology that allows excluding the vector of unobservable system parameters from the equations of the mathematical model and takes into account the change in the nature of the influence of random factors when replacing endogenous parameters of the model. The proposed model of the investment process shows how the efficiency of capital investments in the development of the region oil industry increases depending on the accepted structure of such investments lag. The conclusion indicates the possibilities for improving the efficiency of investments using the developed model. The authors propose to synthesize the global optimization method with the included distributed lag model, which is used according to the method improved in the article.
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Bezerra, Jaldemir Santana Batista, Tiago de Melo Ramos, Maique dos Santos Bezerra Batista, and Robelius De-Bortoli. "importance of Intellectual Capital’s management to obtain the expected results in terms of investment in Human Capital." International Journal for Innovation Education and Research 9, no. 9 (September 1, 2021): 406–16. http://dx.doi.org/10.31686/ijier.vol9.iss9.3360.
Abstract:
This article has as goal to discuss the importance of Intellectual Capital’s management to obtain positive results from the investments of Human Capital from the sector of Human Resources of institutions of a private administrative nature and check what generates more positive results in Intellectual Capital: the investment in human resources for titration or new ways of management of Intellectual Capital. From the reach of these goals, the problem will be answered: How to obtain more results in terms of Intellectual Capital from the Human Capital? The hypothesis that guides this article are: the management of Intellectual Capital generates results so positive or more than the investments in human resources to obtaining the titration; Intellectual Capital’s management does not generate such positive results as the investments in human resources for titration. Inferences, deductions and inductions were built from a qualitative analysis of data in congruence to the theorized aspects and presented data. The results presented the need of having a management of Intellectual Capital for obtaining satisfactory results from human resources and that only the investment for obtaining titration does not provide the enlargement of Intellectual Capital.
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Bezerra, Jaldemir, Tiago de Melo Ramos, Maique dos Santos Bezerra Batista, and Robelius De-Bortoli. "The importance of Integrative Capital’s management to obtain the expected results in terms of investment in Human Capital." International Journal for Innovation Education and Research 9, no. 8 (August 1, 2021): 48–57. http://dx.doi.org/10.31686/ijier.vol9.iss8.3259.
Abstract:
This article has as goal to discuss the importance of Integrative Capital’s management to obtain positive results from the investments of Human Capital from the sector of Human Resources of institutions of a private administrative nature and check what generates more positive results in Integrative Capital: the investment in human resources for titration or new ways of management of Integrative Capital. From the reach of these goals, the problem will be answered: How to obtain more results in terms of Integrative Capital from the Human Capital? The hypothesis that guides this article are: the management of Integrative Capital generates results so positive or more than the investments in human resources to obtaining the titration; Integrative Capital’s management does not generate such positive results as the investments in human resources for titration. Inferences, deductions and inductions were built from a qualitative analysis of data in congruence to the theorized aspects and presented data. The results presented the need of having a management of Integrative Capital for obtaining satisfactory results from human resources and that only the investment for obtaining titration does not provide the enlargement of Integrative Capital.
45
Purdy, Mark J., and Jing Qiu. "China’s Real Capital Crisis." Global Economy Journal 14, no. 2 (June 2014): 235–48. http://dx.doi.org/10.1515/gej-2014-0013.
Abstract:
Investment in fixed assets – roads, buildings, machinery and other infrastructures – has powered China’s economy for the last two decades. It has driven success in manufacturing export markets and has transformed the physical face of China. At the same time, many commentators worry that China’s growth model relies too heavily on increasingly inefficient investments and that, as a result, its economy has become unbalanced. To sustain growth rates of 8% or higher, they argue, China must shift its economy toward consumption-led growth. While seemingly compelling, the conventional overinvestment story is misleading in certain respects. Our research shows that on some measures China may need more capital, not less. However, the key issue facing China is the distribution of capital and how it is used. In fact, investments in the right areas can stimulate household consumption and provide an entirely new source of balanced growth.
46
Cardoso, S. G., Frederik J. Mostert, and Jan Hendrik Mostert. "Financial incentives to enhance capital investments in the emerging market economy of South Africa." Corporate Ownership and Control 8, no. 3 (2011): 290–96. http://dx.doi.org/10.22495/cocv8i3c2p5.
Abstract:
Governments often provide financial incentives to enhance capital investments, as capital is one of the four main production factors in the business environment. Financial incentives may attract capital investments, which should increase economic development and job opportunities in the long run. The objective of this research embodies the improvement of financial decision-making with reference to financial incentives to enhance capital investments in emerging market economies. While there are a variety of financial incentives which can be applied, this research paper concentrates on the well-known financial incentives, viz. the wear and tear allowances, the initial and investment allowances, the investment tax credits, cash grants, as well as tax havens and tax holidays. South Africa is a developing country and is classified as one of the 21 emerging market economies of the world. As the empirical study focuses on the top listed South African companies, the conclusions of this study may also be valuable to other countries with emerging market economies, where the enhancement of investments is one of the key attributes
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Blandin, Adam, and Christopher Herrington. "Family Heterogeneity, Human Capital Investment, and College Attainment." American Economic Journal: Macroeconomics 14, no. 4 (October 1, 2022): 438–78. http://dx.doi.org/10.1257/mac.20200014.
Abstract:
From 1995 to 2015 the aggregate US college completion rate increased almost 50 percent, but completion trends differed markedly by family background. We consider whether changing college preparedness contributed to growth in aggregate completion and differences by family background. We first document parallel empirical trends in precollege investments, college preparedness, and completion. We use these moments to discipline a quantitative model of intergenerational human capital investment with heterogeneous families. Within the model, investment trends generate half of the empirical increase in college completion. The model implies that subsidizing precollege investments increases college completion and lifetime earnings more than college tuition subsidies. (JEL I23, I26, J12, J24, J31)
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Cannice, Mark V., and Cathy S. Goldberg. "Venture capitalists' confidence, capital commitments, and capital investments." International Journal of Technoentrepreneurship 2, no. 1 (2009): 79. http://dx.doi.org/10.1504/ijte.2009.027547.
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FELDMANN, HORST. "Economic freedom and human capital investment." Journal of Institutional Economics 13, no. 2 (October 17, 2016): 421–45. http://dx.doi.org/10.1017/s174413741600028x.
Abstract:
AbstractUsing data from 1972 to 2011 on 109 countries, this paper empirically studies the impact of economic freedom on human capital investment. Enrollment in secondary education is used as a proxy for such investments. Controlling for a large number of other determinants of education, it finds that, over the sample period, economic freedom had a substantial positive effect. This is probably because more economic freedom increases the return on investing in human capital, enables people to keep a larger share of the return, and, by facilitating the operation of credit markets, makes it easier for them to undertake such investments in the first place.
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PARTHASARATHY, V. R. PERRY. "Managing uncertainty: A case for using real options with option pricing model (OPM) to evaluate capital investment." TAPPI Journal 12, no. 7 (August 1, 2013): 69–77. http://dx.doi.org/10.32964/tj12.7.69.
Abstract:
The pulp and paper industry relies heavily on the traditional discounted cash flow-based net present value (DCF-NPV) for making capital investment decisions. The deficiency of the DCF-NPV model is that it is static; once a pattern of cash flow is established, management does not have the option to change the direction when new information is available. However, flexibility to alter the investment decision is a powerful strategic and capital investment tool. Abundant research has established strong precedence for applications of “real options” in operational and strategic settings to provide useful insights in the evaluation of irreversible investments under uncertainty. The binomial or Black-Scholes option pricing model (OPM) for strategic planning and capital investment has been used in many other industries but not in the pulp and paper industry. The pulp and paper industry, though very capital intensive, has provided poor to moderate return on investment or return on capital and has never used the OPM and the flexibility it offers for capital investment decisions. This paper makes a case for using OPM for capital investment decisions by using the example of a hypothetical North American mill considering investments to modernize its papermaking operation.