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1
Polyakov, K. L., M. V. Polyakova, and M. I. Vasilevskii. "Evaluation of Investment Attractiveness of Russian Oil Refining Industry Companies." Voprosy statistiki 27, no. 6 (December 11, 2020): 56–65. http://dx.doi.org/10.34023/2313-6383-2020-27-6-56-65.
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This publication reflects the results of the authors’ research aimed at finding ways to reduce the complexity of appraising the investment attractiveness of potential recipients of investments. The purpose of the research is to create a methodology that will effectively manage not only the process of determining the recipients of investments but also the development of organizations to increase their investment attractiveness. The authors provide an overview of the most significant publications that consider existing methods for appraising investment attractiveness, based on both financial statements and the market value of a business. In the main part of the article, the authors conclude that data envelopment analysis (DEA) may be used to aggregate several different criteria of the investment attractiveness appraising in one number. The section that presents the empirical results of the study contains a description of a number of indicators of Russian oil refining companies and their aggregation based both on the method of expert assessments and a formal approach using the DEA. The examples only apply criteria calculated based on organizations’ financial statements. It is emphasized that in real practice the first method is a very expensive and time-consuming procedure in comparison with the second, which provides a formalized agreement of the criteria used in the former method, and takes into account the situation in the entire market segment under study. It is shown that the calculations made based on these two methods give approximately the same results. This indicates that the methodology proposed by the authors can be considered as an effective alternative to existing expert approaches to appraising investment attractiveness. In the final part of the article, recommendations are formulated for improving the proposed methodological approach by including a number of market indicators that characterize the activities of potential recipients of investments.
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Ilyash, Olha, Osman Yildirim, Liubov Smoliar, Dariia Doroshkevych, Taras Vasylciv, and Ruslan Lupak. "Evaluation of enterprise investment attractiveness under circumstances of economic development." Bulletin of Geography. Socio-economic Series 47, no. 47 (March 25, 2020): 95–113. http://dx.doi.org/10.2478/bog-2020-0006.
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AbstractThis article introduces a step-by-step methodology for evaluating an enterprise’s investment attractiveness in the context of economic development, using appropriate valuation parameters at macro, meso and micro levels. A system of indicators of macro-level investment attractiveness has been formed based on the criteria of socio-economic and legal attractiveness and investment risks. The indicators for assessing investment attractiveness of the industry have been grouped by the criteria of: prospects of the industry, positioning of the enterprise in the industry market, and sectoral investment risks. The indicators of investment attractiveness have been systematised with the use of three-dimensional current and operational analysis, as well as the method of risk assessment, which helped to determine the area of reaction to risk zones of the enterprise’s investment potential. The research allowed us to assess the position of a company in the market and to predict the risks of investing in the chemical industry.
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Blakyta, Ganna, Nataliia Guliaieva, Iryna Vavdijchyk, Olena Matusova, and Anastasia Kasianova. "Evaluation of investment environment security in Ukraine." Investment Management and Financial Innovations 15, no. 4 (December 14, 2018): 320–31. http://dx.doi.org/10.21511/imfi.15(4).2018.26.
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World economic crises, internal economic and political instability have led to declining the level of investment attractiveness and investment security of Ukraine. The aim of the article is to propose an integral index in order to assess investment environment security and determine factors affecting the investment environment security of Ukraine. The suggested assessment is based on the data of World Bank’s indexes with the following blocks of factors: the availability of economic freedom, favorable organizational conditions for doing business, political and legal freedom, supply of resources and infrastructure development. The assessment of Ukrainian investment environment security and its Western neighbors – the European Union member states – has shown that it has lowest rank and highest volatility in Ukraine. The article identifies a direct statistical relation between the volume of foreign direct investment flows in Ukraine and the indicator of political stability and the absence of violence in the country. The main reasons of investment attractiveness reduction in Ukraine were as follows: conservative attitude of investors towards risks due to political instability, manifestations of violence and terrorism; deterioration of the overall financial situation of enterprises, which are the recipients of investments. The article substantiates that conditions for the investment attraction and secure environment in Ukraine have not been formed yet. The system of indicators and criteria for assessing the level of investment environment security should be expanded.
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N. Steblyuk and V. Oparenko. "The matrix model for assessing the investment attractiveness of industrial enterprises." Herald of the Economic Sciences of Ukraine, no. 2(37) (December 23, 2019): 176–78. http://dx.doi.org/10.37405/1729-7206.2019.2(37).176-178.
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The article defines the role of evaluation of investment attractiveness of the enterprise. The main directions of methodological approaches to the assessment of investment attractiveness of the enterprise are given, their peculiarities and purpose are defined. The main disadvantages of methodological approaches to the assessment of investment attractiveness are revealed. It is proposed to use a matrix model to evaluate the investment attractiveness of an industrial enterprise. The necessity of using precisely a matrix model of complex nature to assess the investment attractiveness of industrial enterprises based on the use of quantitative and qualitative factors is substantiated. The main advantages of the matrix model of estimation of investment attractiveness of the enterprise are determined. A methodological toolkit for estimating the investment attractiveness of an industrial enterprise on the basis of a matrix model has been improved, taking into account the current state of domestic industrial enterprises and identifying problematic areas of activity. The matrix model has been supplemented with a matrix of quantitative indicators by a group of property condition indicators, which will allow the investor to take a more objective approach to assessing the investment attractiveness of an industrial enterprise. Quantitative indicators of investment attractiveness are grouped and their marginal evaluation criteria are given. The general index of quantitative characteristic of investment attractiveness of industrial enterprise and possible variants of estimation of its financial condition are determined. The qualitative indicators of estimation of investment attractiveness on the basis of the matrix model are given, they are given weighting coefficients and their boundary intervals are defined. On the basis of qualitative and quantitative indicators, the levels of the generalized index of investment attractiveness of an industrial enterprise according to the matrix model have been formed, which will allow to prove to the investor the expediency of investing in an industrial enterprise. Keywords investment; investment attractiveness; investment potential; enterprise; matrix model.
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Obuhova, E. A. "Multi-Criteria Approach to Assessing the Investment Attractiveness of Innovative Projects." World of Economics and Management 21, no. 4 (December 22, 2021): 103–23. http://dx.doi.org/10.25205/2542-0429-2021-21-4-103-123.
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Realistic evaluation of the investment attractiveness of the financed project is the basis for the successful functioning of a venture investor. At the same time, investors often have to act in conditions of a severe lack of information, especially when it comes to projects at an early stage of the life cycle. In these cases, they use multi-criteria methods for assessing investment attractiveness, often also called scoring methods. The aim of this work is to develop a methodology for assessing the investment attractiveness of innovative projects at the early stages of the life cycle, both based on an analysis of theoretical approaches in the field of venture economics, and based on an analysis of existing business practices.We have proposed a method for assessing the investment attractiveness of a project based on dividing the criteria into three macro groups (market and entry strategy, team and product). At the same time, we used a concept that allows us to interpret the value of each of the assessed parameters (seven in each macro group) as a positive or negative signal given by the project to a potential investor.An important difference between the presented methodology and others described in the professional literature is the combination of the use of theoretical models with an in-depth analysis of the criteria used in practice by various players in the venture capital market (funds, business angels, etc.), which together form the methodological basis of the work. This combination of the use of sources of information on the criteria for evaluating projects determines the scientific novelty of the study. The practical significance lies in the possibility of applying the proposed methodology both by venture investors and other actors of the venture capital ecosystem for making specific financial decisions.
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Vinichenko, Ihor, and Tetiana Shutko. "THE MATRIX MODEL FOR ASSESSING THE INVESTMENT ATTRACTIVENESS OF AGRICULTURAL ENTERPRISES." Baltic Journal of Economic Studies 5, no. 3 (August 1, 2019): 9. http://dx.doi.org/10.30525/2256-0742/2019-5-3-9-16.
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The purpose of the paper is concerned with the relevant problem of regional development – the development of methodological instruments for assessing the investment attractiveness of agricultural enterprises. The article discusses the concept of “investment attractiveness” and justifies the author’s position of its content. It has been established that the enterprise is an open system, so its appeal includes both internal and external environment, so the analysis of investment attractiveness of the enterprise is proposed to be carried out in stages, revealing its real and potential opportunities and threats at every economic level. Methodology. The analysis of existing domestic and foreign approaches to assessing the investment attractiveness of agricultural enterprises was carried out and the use of an integrated approach in conducting this investigation was argued. The algorithm of forming an integral indicator for assessing the investment attractiveness of an agricultural enterprise is substantiated. Results. The authors have proposed a methodical approach, the peculiarity of which is the construction of a matrix model for assessing the investment attractiveness of agricultural enterprises on the basis of a generalized indicator of quantitative and qualitative criteria for evaluating their production and financial position and investment potential. Methodical research instruments include mathematical methods of statistical data processing and expert evaluation using the weighing coefficient theory. Practical implications. Approbation of the methodological instruments was carried out on the example of agricultural enterprises of the Dnipropetrovsk region, as a result of which the most acceptable forms of attracting investment capital were proposed. Those companies can expect investments that have high investment attractiveness, which is 10.5% of the investigated producers. Enterprises of the first group are the most preferred for all types of investors: the largest land and labour potential, high results of economic activity. Agricultural enterprises of the second group have significant resource potential and provide 48.6% of gross output; they can be attributed to “strong middle peasants.” Agricultural enterprises with low investment attractiveness can also count on investment funds. We believe that the most acceptable form of their attraction is the creation basis of unprofitable farms of enterprises with the participation of domestic and foreign capital.
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KOMAROVSKA, Andželika, Leonas USTINOVICHIUS, Galina SHEVCHENKO, and Lukasz NAZARKO. "MULTICRITERIA EVALUATION OF COMMERCIAL INDUSTRIAL ZONE DEVELOPMENT." International Journal of Strategic Property Management 19, no. 1 (April 1, 2015): 84–95. http://dx.doi.org/10.3846/1648715x.2015.1027321.
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The article presents the results of the analysis of Vilnius district commercial-industrial zones. The criteria of analysis are: geographic location, plots and/or groups of plots in the area, operating and planning activities of companies as well as the infrastructure and transport communications development at the engineering level. A theoretical model for investment strategy selection is introduced to identify the possibilities of investment attractiveness. The principle of the investment option with the system of characterizing indicators for development is offered to reflect the lack of cohesion between practical investment promotion and sustainable development of the territories’ indicators.
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Ziyadin, Sayabek, Elena Streltsova, Alex Borodin, Nataliya Kiseleva, Irina Yakovenko, and Elmira Baimukhanbetova. "Assessment of Investment Attractiveness of Projects on the Basis of Environmental Factors." Sustainability 11, no. 9 (May 1, 2019): 2544. http://dx.doi.org/10.3390/su11092544.
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This article is devoted to the creation of intelligent modelling tools for decision support in the evaluation of intellectual projects submitted for financing, as based on qualitatively defined characteristics. The economic and mathematical models that form the basis of the toolkit are constructed using the mathematical apparatus of fuzzy logic, which allows for the description of poorly structured knowledge of specialists, as well as their application in solving questions about the extent of the impact of the proposed projects on the environment. The authors classify investment projects according to the degree of impact on the environment, the environmental criteria required by the investor for the evaluation of investment projects, and the formal formulation of the problem of evaluation of investment projects when taking into account the environmental factor. The toolkit was created based on the concept of intellectualization, where economic and mathematical models for the evaluation of investment projects are programmatically implemented via the tools and functions available in the MATLAB package.
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Silva, Cláudio Moura, Sérgio Ronaldo Granemann, Patricia Guarnieri, and Gladston Luiz Da Silva. "Measuring the Attractiveness of Cities to Receive Investments in Regional Airport Infrastructure." Mathematics 10, no. 10 (May 19, 2022): 1734. http://dx.doi.org/10.3390/math10101734.
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The vast Brazilian territory and the accelerated economic growth of the cities of the country’s interior in recent years have created a favourable environment for the expansion of regional aviation. In 2015, the Brazilian Government launched a program of investments in regional airports equipping them to receive commercial flights. However, the economic crisis and the scarcity of resources drive the prioritisation of projects with a greater economic and social return. This article aims to present a multicriteria decision aid (MCDA) model to measure cities’ attractiveness to receive investments in regional airports. The MCDA approach can deal with multiple indicators and different points of view and provide systematised steps for supporting decision-makers. For this purpose, we selected 12 criteria among the evaluation parameters identified in the literature, which led to the construction of the evaluation model and elaborating the ranking of the localities participating in the investment program. This study can contribute scientifically by proposing the use of an MCDA approach to support decisions related to logistics and infrastructure. It can help managers and practitioners provide a structured and systematised model to address decisions related to airport investments.
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Kapros, Seraphim, Konstantinos Panou, and Dimitrios A. Tsamboulas. "Multicriteria Approach to the Evaluation of Intermodal Freight Villages." Transportation Research Record: Journal of the Transportation Research Board 1906, no. 1 (January 2005): 56–63. http://dx.doi.org/10.1177/0361198105190600107.
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An integrated methodological process was developed to evaluate the expected effect of freight villages. Because the criteria differ as do their measurement units, multicriteria analysis is proposed. The process required an in-depth analysis of the decision-making process for creating a freight village, the operations and the actors involved, and the most recent best practices. The methodology identifies a set of decision criteria, including environmental quality; contributions to local, regional, and national economies; attractiveness for private financing; contribution to land use changes; and complementarity with other policy plans. In addition, the methodology defines the most appropriate corresponding indicators. The identification of stakeholder categories and decision criteria provides added value to the proposed methodological process. The importance of European transport policies on freight villages and terminals development could mean that the process would be the main contributor in developing a pan-European decision tool to assess such investments, especially if private and public funds were involved. The pilot application is an evaluation of investment in a freight village development in northern Greece. The location was selected because it is at the crossroads of important road and rail axes of trans-European transport networks and the interest expressed by the European Commission and Greek private investors.
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Rodionov, Dmitriy G., Evgenii A. Konnikov, and Magomedgusen N. Nasrutdinov. "A Transformation of the Approach to Evaluating a Region’s Investment Attractiveness as a Consequence of the COVID-19 Pandemic." Economies 9, no. 2 (April 15, 2021): 59. http://dx.doi.org/10.3390/economies9020059.
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The global COVID-19 pandemic has caused a transformation of virtually all aspects of the world order today. Due to the introduction of the world quarantine, a considerable share of professional communications has been transformed into a format of distance interaction. As a result, the specific weight of traditional components of the investment attractiveness of a region is steadily going down, because modern business can be built without the need for territorial unity. It should be stated that now the criteria according to which investors decide if they are ready to invest in a region are dynamically transforming. The significance of the following characteristics is increasingly growing: the sustainable development of a region, qualities of the social environment, and consistency of the social infrastructure. Thus, the approaches to evaluating the region’s investment attractiveness must be transformed. Moreover, the investment process at the federal level involves the determination of target areas of regional development. Despite the universal significance of innovative development, the region can develop much more dynamically when a complex external environment is formed that complements its development model. Interregional interaction, as well as an integrated approach to innovative development, taking into account not only the momentary effect, but also the qualitative long-term transformation of the region, will significantly increase the return on investment. At the same time, the currently existing methods for assessing the investment attractiveness of the region are usually heuristic in nature and are not universal. The heuristic nature of the existing methods does not allow to completely abstract from the subjectivity of the researcher. Moreover, the existing methods do not take into account the cyclical properties of the innovative development of the region, which lead to the formation of a long-term effect from the transformation of the regional environment. This study is aimed at forming a comprehensive methodology that can be used to evaluate the investment attractiveness of a certain region and conclude about the lines of business that should be developed in it as well as to find ways to increase the region’s investment attractiveness. According to the results of the study, a comprehensive methodology was formed to evaluate the region’s investment attractiveness. It consists of three key indicators, namely, the level of the region’s investment attractiveness, the projected level of the region’s investment attractiveness, and the development vector of the region’s investment attractiveness. This methodology is based on a set of indicators that consider the status of the economic and social environment of the region, as well as the status of the innovative and ecological environment. The methodology can be used to make multi-dimensional conclusions both about the growth areas responsible for increasing the region’s innovative attractiveness and the lines of business that should be developed in the region.
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Mandych, I. A., A. V. Bykova, and O. B. Gaiman. "Features of assessing the investment attractiveness of high-tech projects." Russian Technological Journal 10, no. 2 (April 3, 2022): 75–86. http://dx.doi.org/10.32362/2500-316x-2022-10-2-75-86.
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Objectives. The creation of high-tech projects is one of the main stages of the transition to an innovative economy. This can further be explained by the intensive development of globalization processes in the economic system of Russia. High-tech projects have lower profitability when compared to venture projects, but a higher probability of commercial success. In Russia, there are currently six areas of support programs for high-tech projects. Moreover, there are a large number of operators supporting high-tech projects actively working in the Russian market. The acceleration of the technological development requires an intensification of innovation policy and a revision of the portfolio of its acting instruments. In turn, this makes the matter of analyzing their significance and relevance for participants in innovation processes more pertinent. The purpose of this work is to identify features of the investment process in the Russian Federation, and determine criteria for selecting priority high-tech projects and methods of evaluating high-tech projects, in the aim of making informed investment decisions.Methods. Models for assessing the investment attractiveness of high-tech projects were constructed using economic and mathematical modeling methods, in particular, nonlinear and dynamic programming methods.Results. The general principles and approaches to methods of evaluating the efficiency were analyzed. A model of the priorities of high-tech projects was presented. Models which take into account cash flows after the expiration of the payback period were also considered (by means of the nonlinear programming of calculation of the discounted payback period of investment costs and the modernized discounted payback period of investment costs). An algorithm for assessing the investment attractiveness of high-tech projects was demonstrated.Conclusions. To date, there has been no single algorithm for assessing the investment attractiveness of high-tech projects. However, the integrated application of the methods and models proposed in this work will allow investors to make informed investment decisions despite the complexity of project financing in innovative developments.
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Rykova, Inna, and Denis Taburov. "Tools Improvement for Stimulating Investment Attractiveness of the Energy Complex of Russia." Vestnik Volgogradskogo gosudarstvennogo universiteta. Serija 3. Ekonomika. Ekologija, no. 1 (March 2019): 92–99. http://dx.doi.org/10.15688/jvolsu3.2019.1.9.
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The article deals with the investment forecast for the energy sector of Russia in the long term for the period up to 2030, analyzes the dynamics and identifies cause-effect relationships. The hypothesis of growth of investment attractiveness is formed on the basis of revenue assessment of the largest companies of the fuel and energy complex of Russia. The authors describe the possibilities for the use of financial instruments for the development of the real sector of the economy. The indicators of evaluating the effectiveness of investment projects in the field of oil exploration and production are given. The potential of the world leaders in the field of oil supply to the international energy market is studied. Methods, forms and sources of financing of the real sector of economy are defined. The measures to stimulate economic growth and increase the investment attractiveness of the studied industry are recommended. The analysis of the oil and gas complex is carried out on the following economic indicators: criteria of return on capital and sales, coefficients of business activity, financial leverage, liquidity and capitalization of assets of companies operating in a single industry. This made it possible to identify inefficient producers of raw materials whose investment strategies are in dire need of adjustment and optimization of sources of financing. As a result of the study, proposals are formulated to redistribute investments into more profitable segments of the extractive industry, to combine the mechanisms of taxation of mineral extraction with the extraction of economic benefits from the expansion of the range of export duties levied on foreign trade operations. The article traces the economically significant idea of the need to modernize infrastructure organizations, the construction of new facilities in the activities of generating industries based on the optimization of investment flows in the companies of the real sector of the economy. As a result of the research, the authors substantiate the proposals for linking the economic growth of the country with the processes of investment in oil production and exploration taking into account the elimination of imbalances in the structure of revenue and capital.
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SLEPOV, Vladimir A., and Kirill E. PIVNYK. "Development of a methodology for evaluating the effectiveness of financial policies of companies." Financial Analytics: Science and Experience 14, no. 4 (November 15, 2021): 364–75. http://dx.doi.org/10.24891/fa.14.4.364.
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Subject. This article presents an analysis of the essence of financial policy as a factor of effective development of companies. Evaluation of the effectiveness of the implemented financial policy of companies is a significant scientific and practical problem. It determines the choice of the main criteria used to calculate the financial policy effectiveness. Objectives. The article aims to develop a comprehensive methodology for assessing the effectiveness of financial policy of companies in modern conditions, and define criteria for its evaluation. Methods. The Due Diligence approach is the basis for solving the research tasks: comparing the current standards and methods for assessing the financial policy of companies and simplifying its implementation through the proposed method of multivariate coefficient analysis. Results. The article offers a comprehensive approach to assessing the effectiveness of financial policy, considering electric power companies as a case study. The practical significance of the results obtained lies in the use to increase the investment attractiveness of companies that are considered as potential investment objects. Conclusions. The research proposes a methodology for assessing the financial policy of companies based on a multivariate, customizable system of financial coefficients. An indicator of the effectiveness of financial policy of companies was calculated. It can be recommended for practical application. The obtained results of evaluating the effectiveness of financial policy can be used by the companies’ management to make management decisions, investors to choose the best investment option, market participants to rank companies by efficiency, and determine industry benchmarks.
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Dabbaghi, Azadeh. "Utilization of grey madm methodology in technology attractiveness assessment: a case study in upstream industry." Independent Journal of Management & Production 11, no. 7 (December 1, 2020): 2872–87. http://dx.doi.org/10.14807/ijmp.v11i7.1015.
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Technology assessment help managers to accomplish an overall evaluation of technologic options and to identify investment priorities. Making such priority has become of great importance owing to ever-increasing costs of technological research and development and resource scarcity. Technology Attractiveness Assessment, as a primary step of Technology assessment process, has been considered in this paper. Based on the multi-criteria decision-making approach and because of the inherent uncertainty in the preference information on attributes, a Grey-MADM based methodology has been utilized in this paper to assess the technology attractiveness and rank the upstream industry technological options. Its application to a real case problem has been described step by step. The results of the case study showed that "Nano Coating for Drilling Tools", "Petroleum Systems Model Building" and "Integrated Asset Modelling" are the most attractive upstream technologies.
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Shemet, M., and O. Kolontaievskyi. "INDICATORS OF EVALUATION OF EFFICIENCY OF DEVELOPMENT OF HOTEL ENTERPRISES." Series: Economic science 7, no. 160 (November 27, 2020): 48–52. http://dx.doi.org/10.33042/2522-1809-2020-7-160-48-52.
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The purpose of the article is to determine the system of indicators for assessing the effectiveness of hotel enterprises. It is determined that the main criterion of the value of the investment project is the criterion of net discounted income. It is noted that the modified internal rate of return (MIRR) eliminates the lack of internal rate of return of the project, which occurs in the case of repeated outflows. It is noted that today there is no single approach to assessing the effectiveness of investment in hotel enterprises in accordance with the forms of ownership and their size, which is due to the need to ensure compliance with performance evaluation criteria and a system of indicators. Statistical and dynamic indicators of investment evaluation are considered Indicators are analyzed: simple (accounting) rate of return on the project (ARR), payback period (PP) Performance indicators taking into account the time factor are considered: discounted payback period (DPP), net discounted income (NPV), discounted profitability index (DPI), internal rate of return (IRR) and some others. The disadvantage of the discounted payback period has been identified - it does not take into account subsequent cash inflows, and therefore may serve as an incorrect criterion for the attractiveness of the project. The main advantages of static and dynamic indicators of investment project efficiency assessment are determined. It is noted that one of the main criteria of investment advantage of a project is profit maximization. Break-even analysis allows you to calculate the volume of sales at which the company's income equals costs. It is proposed to use the indicator modified internal rate of return (MIRR) It is determined that the most popular methods of assessing the effectiveness of the investment project today are the definition of such static indicators as simple rate of return, simple payback period and dynamic indicators, namely: discounted payback period, net present value, profitability index, internal rate of return and modified internal rate profitability. The most accurate results are given by dynamic indicators, as they take into account the value of money over time. Although dynamic methods are more accurate, all the considered methods of evaluating the effectiveness of the investment project have their pros and cons.
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Juškaitė, Lina, and Laura Gudelytė-Žilinskienė. "INVESTIGATION OF THE FEASIBILITY OF INCLUDING DIFFERENT CRYPTOCURRENCIES IN THE INVESTMENT PORTFOLIO FOR ITS DIVERSIFICATION." Journal Business, Management and Economics Engineering 20, no. 01 (May 11, 2022): 172–88. http://dx.doi.org/10.3846/bmee.2022.16883.
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Purpose – the main aim of this article is to identify cryptocurrencies suitable for investment and portfolio diversification. Research methodology – the methodology of empirical research includes methods of scientific literature analysis, statistical data analysis, multicriteria evaluation, correlation analysis. Findings – Bitcoin is the leading cryptocurrency, but this result could have been due to an exceptionally high market capitalization. Based on the results of the analysis, the inclusion of Bitcoin, Etherium and Dogecoin in the investment portfolio of S&P500, Euro Stoxx 50, DAX and CAC 40 indexes could be considered. Terra could be an interesting investment when considering the benefits of diversification. Research limitations – based on the results of the study, the inclusion of all studied cryptocurrencies in the investment portfolio could be considered in order to diversify the portfolio, taking into account their investment attractiveness. Practical implications – Cryptocurrencies attract investors not only because of the returns they receive, but also because of the absence of intermediaries, which allows them to reduce transaction costs. High returns are associated with high risks, so it is necessary to conduct as much research as possible to identify the benefits of cryptocurrencies and to find risk management strategies. One such benefit of cryptocurrencies highlighted in research is diversification. Originality/Value – the novelty of the study lies in evaluation of 10 selected cryptocurrencies according to different criteria using a multi-criteria valuation method to identify cryptocurrencies that are non-correlated or weakly correlated with traditional assets and the most suitable for investment and for portfolio diversification.
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Makarova, V. M. "Stakeholder approach in benchmark of corporate risk management." Strategic decisions and risk management, no. 4-5 (October 29, 2017): 16–29. http://dx.doi.org/10.17747/2078-8886-2017-4-5-16-29.
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Decision-making regarding cooperation with a particular company requires a sufficiently in-depth analysis of the attractiveness and prospects of such cooperation. Standard methods of analysis, such as analysis of economic activity, investment attractiveness and efficiency of investment projects, undoubtedly remain the main ones in the organization of interaction, but due to the fact that most companies deviate from the normative values of activity and still remain attractive enough for cooperation, the analysis of the efficiency of intrafirms corporate processes is becoming increasingly popular. The huge variety of risk management methods, along with the inability to obtain reliable information about the methods used within the firm, force stakeholders to pay attention to indirect signals of effectiveness evaluation. In the course of the research, it was suggested that stakeholders have their own judgment about the effectiveness of intracorporate management processes that are different from common valuation techniques and conducted their own research. Based on the survey data conducted with representatives of the top management of various sectors of the economy, a list of relevant criteria for the effectiveness of intra-corporate risk management was obtained. The use of statistical methods of analysis and methods of scientific knowledge allowed to develop a mathematical methodology for evaluating these criteria, and empirical data of 88 Russian companies in the non-financial sector were used as a basis for calculating control points for application in practice. The theoretical significance is the identification of points of control of the effectiveness of risk management from the perspective of stakeholders; practical relevance reflects the toolkit for comparing the company with the best practices.
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NAUMOVA, Larisa, Oleksandr NAUMOV, and Olga NAUMOVA. "INSTITUTIONAL TOOLS FOR ENHANCING FOREIGN INVESTMENT IN THE DEVELOPMENT OF THE NATIONAL ECONOMY." Ukrainian Journal of Applied Economics 4, no. 3 (August 30, 2019): 77–85. http://dx.doi.org/10.36887/2415-8453-2019-3-9.
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Introduction. Attracting foreign investment in the country's economy is a priority for its economic development and strengthening independence. Ukraine needs to form qualitatively new ways and methods of developing international investment activity. They should be based on a continuous study of international investment processes and their relationships. The purpose of the study is to assess the current state, determine the conditions, ways and mechanisms of attracting foreign investment in the country's economy. Results. In the article we have done an analytical study of the volume and structure of foreign investment in the economy of Ukraine. The negative phenomenons in the investment process and their main causes were identified. The main problem is the lack of innovative investments. The composition of the criteria for evaluating the effectiveness of investment was determined. The factors which determine the attractiveness and prospects of investment were identified: macroeconomic; regulatory policy; favourable market entry; openness of the economy; tax system; inflationary stability; accessability of resources; political stability. The composition of investment risks was determined: low rates of reform; insufficient protection of the rights of foreign investors; imperfection of the legislative base; corruption. Recommendations on increase of foreign investment were formulated: providing legislative guarantees for investors; observance the legal rights of investors and decision of the disputes; stabilization of the legal base; information support; stabilization of the political situation, etc. Conclusions. Difficult economic conditions do not guarantee a sufficiently high profitability of projects to cover country-related risk. To improve the investment climate, it is necessary to reduce the number of formal procedures, their cost and time. Key words: foreign investment, national economy, risks, state guarantees.
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Sheveleva, G. I. "Corporate Governance in Russian electric power industry in terms of consumer requirements to its funding sources." E3S Web of Conferences 58 (2018): 02004. http://dx.doi.org/10.1051/e3sconf/20185802004.
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The paper highlights a strong interest of energy consumers in attracting investment in the development of Russian power generation companies. The importance of corporate governance for enhancing the investment attractiveness of these companies is emphasized. An in-depth evaluation of their current corporate practices was carried out within the framework of the existing ownership structure. The study identified the indicators of corporate governance quality for the benefit of modern investors that are the least observed by the overwhelming majority of power companies. The indicators were obtained on the basis of whether or not the companies satisfy the criteria of the new Russian Corporate Governance Code, and the criteria of the methodologies of Standard & Poor’s, Spencer Stuart and Transparency International. The study shows a slight increase in the transparency of the companies in the post-reform period and compares it with the information disclosure by the major corporations of Great Britain, the USA and Europe. The study shows high correlation of the approach and composition of the identified indicators of the corporate governance quality for Russian power generation companies with the 2017 Russian Corporate Governance Index. This Index is based on the international Good Governance Index methodology adapted to the Russian conditions.
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A.F. Ferreira, Fernando, Sérgio P. Santos, Carla S.E. Marques, and João Ferreira. "Assessing credit risk of mortgage lending using MACBETH: a methodological framework." Management Decision 52, no. 2 (March 11, 2014): 182–206. http://dx.doi.org/10.1108/md-01-2013-0021.
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Purpose – Considered the largest investment for most households, buying a house requires careful and transparent analysis by all parties involved in the transaction. The aim of this paper is to propose a methodological framework allowing for the readjustment of trade-offs among risk evaluation criteria, considered of extreme importance in the lending decision process of mortgage loans. Design/methodology/approach – Multiple criteria decision analysis (MCDA) has proved over the years to be effective and versatile in handling compensations among criteria. Measuring attractiveness is applied by a categorical based evaluation technique (MACBETH) to a pre-established structure of credit-scoring criteria for mortgage lending risk evaluation. This pre-established structure is currently used by one of the largest banks in Portugal. Findings – The framework allowed the authors to provide the credit experts who participated in the study with a more informed, transparent and accurate mortgage-lending risk-evaluation system. The sensitivity and robustness analyses carried out also helped in promoting discussion and supporting the readjustments made. Research limitations/implications – The study shows the usefulness of using the MACBETH approach to assist credit analysts in making better informed decisions, and opens avenues for further research. However, due to the dependence on the participants involved, extrapolations without proper caution are discouraged. Practical implications – The credit analysts who participated in this study considered the framework more discerning in terms of Basel directives. Originality/value – The integration of MACBETH and credit-scoring mechanisms holds great potential for risk assessment and decision support. No prior work reporting the application of MACBETH in terms of mortgage-lending risk-evaluation is known.
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Milčiuvienė, Saulė, and Julius Paškevičius. "The Investment Environment for Renewable Energy Development in Lithuania: The Electricity Sector." Baltic Journal of Law & Politics 7, no. 1 (June 1, 2014): 29–48. http://dx.doi.org/10.2478/bjlp-2014-0003.
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Abstract The article analyzes the investment environment in renewable electricity generation capacities, evaluating the credibility of long term renewable energy targets, the stability of promotion schemes and the impartiality of national administrative procedure. The article explores two main questions: (i) are the EU and Lithuanian energy policy targets and promotion schemes credible enough to convince private investors to put their money in renewable energy development; (ii) does national administrative procedure put a disproportional burden on renewable energy investors or on certain group of investors? The assessment of the investment environment includes a large number of criteria, but we analyze three of them: the stability of long term strategy; the attractiveness of promotionmeasures; and the simplicity and transparency of administrative procedure. Two further criteria are investigated: the stability of targets in renewable energy and the stability of promotional measures. The greatest uncertainty for investors occurs because of constantly changing support schemes of renewable energy sources-schemes that are not harmonized among the member States. At the national level the main driver in the development of small generators is the feed-in tariff. However, the high feed-in tariff does not always guarantee the smooth development of small scale generators of renewable energy.
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Ivut, R. B., P. V. Popov, P. I. Lapkovskaya, and I. V. Emelyanovich. "Evaluation of Motor Transport Infrastructure Influence on Socio-Economic Indicators of Minsk Region." Science & Technique 17, no. 4 (July 31, 2018): 314–19. http://dx.doi.org/10.21122/2227-1031-2018-17-4-314-319.
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The paper substantiates the necessity to study a transport infrastructure in the context of its impact on socioeconomic indicators pertaining to the development of a certain region. The importance of this study is confirmed by the goals and objectives of the transport system development of the Republic of Belarus, which are outlined in the National Strategy of the Republic of Belarus for Sustainable Socio-Economic Development for the period until 2030, and they are considered as well as priority areas for the development of Minsk region, presented in the Sustainable Development Strategy of Minsk Region for 2016–2025. The influence of eight indicators for transport infrastructure development of Minsk region on four key socio-economic indicators of the region development such as gross regional product, investment in fixed assets, revenues of consolidated budgets, average wage level has been investigated in the paper. A multiple regression analysis has been applied for assessing a relationship between dependent and independent variables. A step selection method has been used as a method of multiple regression analysis. All calculations have been carried out in the IBM SPSS Statistics 20 program. As a result of the study correlation indicators have been established between dependent and independent variables, relationships between variables and dependencies have been determined in the paper. The reliability of the obtained results have been verified with the help of the Fisher and Student's criteria. The obtained results have made it possible to identify key indicators for a transport infrastructure of Minsk region which have the greatest impact on socio-economic development of this region and can be used to analyze an investment attractiveness of Minsk region.
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Stankovic, Jelena, Vesna Jankovic-Milic, and Marija Radosavljevic. "Improving the business environment in cities and municipalities in Serbia." Zbornik Matice srpske za drustvene nauke, no. 146 (2014): 105–18. http://dx.doi.org/10.2298/zmsdn1446105s.
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One of the ways to determine the benefits of a particular municipality and indicate its readiness to cooperate with potential investors is to promote standards of effective and transparent local administration. This task can be realized through the certification of cities and municipalities with a favorable business environment. Certification is a process that, among other things, allows the assessment of quality of services and information that municipalities provide for investors and businessmen. It is a process aiming at improvement of business environment in Serbia through institutional reforms with the active participation and cooperation of industry, municipalities and citizens. One of the key questions is to determine the importance of the criteria relevant for evaluating the attractiveness of municipality in terms of potential investors. Analysis of criteria importance for certification of cities and municipalities with a favorable business environment, shown in this paper, aims to identify those who have played a key role in the efficiency of municipalities and cities in attracting foreign direct investment. This paper presents three alternative ways of determining the importance of the criteria. The results of this analysis should indicate to the authorities of cities and municipalities possible ways of improving their position at the list of those with a favorable business environment.
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Шипрагић, Милош. "Маркетиншка анализа атрактивности Босне и Херцеговине за стране инвеститоре и улога маркетинга у њиховом привлачењу // Marketing analysis of the attractiveness of Bosnia and Herzegovina for foreign investors and role of marketing in their attracting." ACTA ECONOMICA 10, no. 17 (June 10, 2012): 127. http://dx.doi.org/10.7251/ace1217127s.
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Резиме: Данас, у условима глобализације, присутан је специфичан облик конкуренције између локација (држава, регија, општина и градова) у привлачењу људи (посебно оних високообразованих и талентованих), предузећа иинвеститора, туриста и посјетилаца, организатора и учесника различитих догађаја, као и других актера који позитивно утичу на привредне активности, повећање прихода и развој тих локација. Рад се фокусира на сегментмаркетинга локације који се односи на привлачење страних инвеститораи идентификовање степена атрактивности БиХ у односу на конкурентскеземље. На основу резултата релевантних истраживања идентификованоје које земље се могу сматрати конкурентима БиХ у привлачењу странихинвеститора у ужем и ширем смислу, те које факторе страни инвеститори сматрају најважнијим у процесу вредновања појединих земаља и доношењуодлуке о избору локације за инвестирање. Компаративна анализа осам земаља по шест критеријума је указала на релативно лош положај БиХ, па јестога сугерисано да је потребно унаприједити факторе који у највећој мјеридетерминишу одлуку страних инвеститора о избору државе. На неке од тихфактора (нпр. величина тржишта) није могуће значајније утицати, док нанеке друге (нпр. законски оквир који регулише инвестиције и пословање)јесте, што је у надлежности државе односно њених ентитета. У том смислу дају се препоруке за унапређење релевантних фактора који би повећали инвестициону атрактивност и прилив страних директних инвестиција у Републику Српску и БиХ. SummaryNowadays, with an ongoing globalization, there is a specifi c form of competitionbetween locations (countries, regions, municipalities and cities) in attractingpeople (especially highly educated and talented ones), companies and investors, tourists and visitors, organizers and participants of various events, as well asother stakeholders that have a positive impact on economic activities, increaseof revenues and development of these locations. Focus of this paper is on segment of the place marketing which is related to attraction of foreign investorsand identifi cation level of BiH attractiveness in comparison to competing countries. On basis of results of relevant studies, countries which could be consideredas competitors of BiH in the narrower and wider sense in attracting of foreigninvestors were identifi ed. Also, factors which foreign investors consider as themost important in process of evaluation of respective countries and deciding on alocation for investment were identifi ed. Comparative analysis of eight countriesby applying six criteria pointed to relatively poor position of BiH and therefore itwas suggested that it is necessary to improve factors that to a great extent determinedecision of foreign investors on the choice of the state. It is not possible toachieve a signifi cant infl uence on some of these factors (e.g. market size), whileon the other factors (e.g. legal framework related to investment and business) it is,which is under authority of state i.e. its entities. In this sense, recommendationsfor improvement of relevant factors that could increase attractiveness of Republika Srpska and BiH as investment locations and increase infl ows of foreign directinvestments were provided.Key words: place marketing, attracting foreign direct investments
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Майорова, Елена, and Elena Mayorova. "Soft assets as a competitive advantage of retail enterprises." Services in Russia and abroad 8, no. 5 (July 31, 2014): 3–17. http://dx.doi.org/10.12737/5360.
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The article is devoted to the study of soft assets and their potential as a tool for creating retail-enterprise competitive advantage. The issue is gaining momentum due to the growing competition in the retail market, which makes it imperative for individual retail enterprises to look for new competitive practices, and the low rate of soft-asset usage by retail enterprises. The purpose of the study is to identify additional retail-enterprise competitive strengths derived from a more efficient management of soft assets (case study: OAO Magnit, and X5 Retail Group). The methodology applied to the analysis of the efficiency of soft-asset use includes: an analysis of soft assets as part of organizational assets; a conventional-criteria-based analysis of soft assets; an evaluation of the value of soft assets and of the business in general; an analysis of retail enterprises’ private brands; an analysis of soft-asset franchising-based transfer. The study has revealed that soft assets are a potent means of improving a retail enterprise’s competitiveness through cost reduction, retail emotional gravitation, differentiation and enhancement of a retail enterprise’s investment attractiveness, etc. The results obtained can be deployed by retail enterprises to improve soft-asset management practices with the view to enhancing competitive advantage.
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SHPILEVA, Vira, Yurii KRAVCHYK, and Inna YASHCHENKO. "MANAGEMENT OF COMPETITIVE POSITIONS OF THE ENTERPRISE." Herald of Khmelnytskyi National University 302, no. 1 (January 2022): 23–30. http://dx.doi.org/10.31891/2307-5740-2022-302-1-4.
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The article focuses on the management of competitive positions of the enterprise, in particular, analyzed and developed a number of proposals on the example of financial and economic and management activities of the enterprise, which specializes in providing construction and repair services. The purpose of the article is to substantiate the new methodological and applied principles of evaluation and policy formation to improve the competitive position of the enterprise. Modern scientific research in the field of managing competitive positions of enterprises is analyzed and it is concluded that constant change of business conditions, high dynamics of changes in market conditions and market positions of enterprises, emergence of new methods and valuation methods and strategies for competitiveness require new theoretical and methodological developments in terms of improving the management system of competitive positions of the enterprise. A method of comprehensive analysis of the competitive position of the company, including analysis of investment attractiveness of the industry, calculation of the structure and dynamics of the Herfindahl-Hirschman index, the dynamics of the capacity of the target market segment in which the company specializes. The method of compiling a competitive map of competing companies in the market of construction and repair services in the region has been developed and tested. The matrix “Level of attractiveness of the industry in which the company operates” is proposed, calculated and built according to the criteria: (1) the intensity of competition in the industry; (2) stage of development of the industry. The applied significance of the research results is that priority measures have been identified to strengthen such components of enterprise competitiveness as financial, intellectual and personnel, technical and technological and others. The scientific novelty of the research results is the substantiation of new methodological approaches to the analysis of the competitive position of the enterprise in the market.
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Borodin, Alex, Manuela Tvaronavičienė, Irina Vygodchikova, Galina Panaedova, and Andrey Kulikov. "Optimization of the Structure of the Investment Portfolio of High-Tech Companies Based on the Minimax Criterion." Energies 14, no. 15 (July 30, 2021): 4647. http://dx.doi.org/10.3390/en14154647.
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A model has been developed for the optimization of the share structure of an investment portfolio in high-tech projects supported by the leaders of the leading industry companies in Russia. Several indicators (financial leverage, integrated rating of companies, industry rating) were applied in the decision support system for the shared distribution of investments. High-tech production is based on innovative technologies for saving resources, the resiliency of systems for transporting and transferring raw materials and finished products within Russia, so the main income will remain within the country. It is possible to export high-tech products, rather than raw materials, which will increase export revenues. Investors will invest in high-tech projects of Russian companies, taking into account the targeting of investment development. The guarantee is the stable financial position of the companies and the competitiveness rating. Methods: The authors propose a new approach that does not contradict modern rating scales, based on a hierarchical rating procedure and fuzzy logical rules that allow you to build an integral rating in the form of portfolio shares from the whole. A higher share shows an indicator of the higher investment attractiveness of companies. The industry rating is obtained based on the principle of the company’s first affiliation to the highest rating indicator. The final minimax portfolio is based on the initial ratings in a circular convolution and is then adjusted by industry. A software package has been compiled that allows the testing of the method of capital allocation between investment projects for the largest companies’ leaders of high-tech industries in Russia. This software uses the author’s method of multi-stage analysis, the evaluation of financial coefficients, the integral ranking and the correction of the solution taking into account the industry attributes. Results: The results are presented with computer-aided design (CAD) in the form of an algorithmized decision support system (DSS). The CAD system is based on a hierarchical algorithm, based on the use of a multi-level redistribution of investment shares of high-tech companies, taking into account the adaptation to the requirements of the return on investment portfolio. When compiling the portfolio, the minimax optimality criterion is applied, which allows the stabilization of the risk by purposefully redistributing funds between the companies involved in the analysis. The authors of the article have compiled an algorithm for the software implementation of the model. Features of the rating approach: the use of the author’s mathematical apparatus, which includes a hierarchical analysis of the ranked indicators of the financial and economic activity of companies, taking into account their priority, and the use of a minimax approach to obtain a rating assessment of companies, taking into account the industry attributes. Development: The proposed approach should be used for targeted financing of large industry companies engaged in the implementation of high-tech projects.
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Levkina, Elena V., Zhanna I. Lyalina, and Ekaterina A. Kurasova. "Methodological Aspects Concerning Evaluation of the Financial Stability of Companies in the Crisis Economy Conditions." REICE: Revista Electrónica de Investigación en Ciencias Económicas 8, no. 16 (December 31, 2020): 513–27. http://dx.doi.org/10.5377/reice.v8i16.10720.
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The financial stability of a company is one of the most important criteria for assessing the situation of enterprises both for the current period and for subsequent periods of functioning. Of course, every enterprise wants to have business liquidity, otherwise the basis of entrepreneurship collapses; however, the purpose of doing business is to make a profit. An enterprise can make good profits, but at the same time have large liabilities, that is, debts. In this case, it is difficult to call the company financially stable. The onset of the economic crisis in the Russian Federation only prompts the conduct of such studies. Firstly, because it is necessary to understand how the situation in the country's economy as a whole affects a single enterprise, and secondly, what the prerequisites for this influence can be noticed in advance and how to try to prevent them. The relevance of this study lies in the fact that today in Russia there are a number of difficulties with assessing the status of organizations and their adequate comparison with reality. There are many different methods for assessing the financial condition and, in particular, the financial stability of a company. However, when choosing one of them, it is necessary to consider them in order to identify the shortcomings of their application to certain market conditions. Identification of these disadvantages of different theories will allow us to competently and reliably analyse the financial condition of various companies. It is also worth noting that this topic is relevant not only for the companies themselves. The presence of positive dynamics of financial stability indicators as an integral part of the financial condition of the enterprise is one of the most important bases of investment attractiveness. Therefore, not only a company itself is interested in such studies in the inside, but also other market entities from the outside.
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Pishdar, Mahsa, Fatemeh Ghasemzadeh, and Jurgita Antuchevičienė. "A MIXED INTERVAL TYPE-2 FUZZY BEST-WORST MACBETH APPROACH TO CHOOSE HUB AIRPORT IN DEVELOPING COUNTRIES: CASE OF IRANIAN PASSENGER AIRPORTS." Transport 34, no. 6 (December 19, 2019): 639–51. http://dx.doi.org/10.3846/transport.2019.11723.
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Hub airports are the ones that model networks in which most journeys go via a few central points. Famous hub airports deliver positive social and environmental impact to the communities along with economic effects. This paper is about to investigate indicators related to hub performance excellence from various angles, considering leading hub airports performance while determining the priorities in order to help airports especially in developing countries to find the way of progress. A list of Key Performance Indicators (KPIs) is prepared from the literature, which is prioritized using Best-Worst Method (BWM). The weights of these criteria are specified via application of interval type-2 fuzzy BWM. Then using five most important criteria, MACBETH (Measuring Attractiveness by a Categorical Based Evaluation TecHnique) ranking approach is used to analyse 19 Iranian international airports and find the most appropriate one for being hub airport. The results show Kish airport with the International Civil Aviation Organization (ICAO) code “OIBK” is prior to other airports and can be chosen as the hub airport that means Iran airports holding company is suggested to focus more investments in this airport to gain fastest possible benefits of an international hub airport.
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Kiciński, Marcin, and Katarzyna Solecka. "Application of MCDA/MCDM methods for an integrated urban public transportation system – case study, city of Cracow." Archives of Transport 46, no. 2 (June 30, 2018): 71–84. http://dx.doi.org/10.5604/01.3001.0012.2107.
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The paper presents the application of the Multiple Criteria Decision Aid/Making (MCDA/MCDM) methodology in the assessment of the development of different scenarios for an urban public transportation system (UPTS). This methodology allows considering several conflicting objectives and performing the evaluation process in a comprehensive manner. This approach also corresponds to the holistic philosophy: different aspects (economic, technical, social etc.) and interest groups – stakeholders (operators, passengers, city government etc.). The MCDA/MCDM methodology is specifically customized to the real life case study – urban public transportation system in the city of Cracow (Poland). A family of 10 criteria is proposed to evaluate several solutions (W) for a UPTS in terms of their usefulness and attractiveness for different stakeholders. These criteria take into account: travel time and standard, effectiveness of the fleet use, environment friendliness, the level of integration and reliability of the UPTS, safety and security, the profitability and availability of the UPTS, investment costs. Considering the possible solutions, the 6 alternatives were designed heuristically and compared with the current state (denotation of alternative W0). Based on the analysis, for the final considerations compared with the current alternative, 7 new solutions of the integrated urban public transportation in Cracow were adopted, denoted as: W1 (bus/rail alternative: integration of high-speed agglomeration rail with bus transportation), W2 (rail/tram/bus alternative: integration of high-speed agglomeration rail with tram and bus transport system), W3 (alternative with the underground: integration of the underground with high-speed agglomeration rail and with tram and bus transport system), W4 (tram/rail alternative: integration of high-speed agglomeration rail with tram transport), W5 (Tram alternative: integration of tram transport with bus transport), W5A (tram alternative: sub-alternative to the alternative W5, integration of tram transport), W6 (dual-mode tram alternative: integration of dual-mode tram transport). The variants of the scenarios for the urban public transportation system were generated by VISUM computer macro-simulation software. The computational experiment was carried out with the practical application of different Multiple Criteria Decision Aid/Making methods: AHP (Expert Choice program) and Electre III (software package Diviz).
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Данилова, Надежда Леонидовна, and Евгений Алексеевич Иванов. "CRITERIA FOR ANALYZING THE EFFECTIVENESS OF ACCOUNTING POLICIES." Вестник Тверского государственного университета. Серия: Экономика и управление, no. 4(52) (December 23, 2020): 30–40. http://dx.doi.org/10.26456/2219-1453/2020.4.030-040.
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Учетная политика регулируется одноименными стандартами как российского бухгалтерского учета, так и международного. Несмотря на это при раскрытии сущности и назначения учетной политики в РСБУ и МСФО расставляются разные акценты. Если в национальном стандарте во главу угла ставится непосредственно бухгалтерский учет, принципы его ведения, то в МСФО больше внимания уделяется правилам и принципам финансовой отчетности, а, следовательно, интересам ее пользователей. Цель исследования - акцентировать внимание на необходимости соблюдения в максимальной степени норм законодательства, а при стремлении снизить трудоемкость учета в целом - не игнорировать интересы собственников и инвесторов. Эффективность учетной политики оценивается авторами как дополнительный метод для повышения интереса со стороны потенциальных инвесторов к деятельности организации. Этого можно достичь, если в учетной политике предусмотреть раскрытие в бухгалтерской (финансовой) отчетности определенной информации. Для увеличения интереса к учетной информации со стороны внутренних пользователей авторы предлагают расширить в методическом аспекте учетной политики раскрытие вопросов учета затрат и других объектов для осуществления управленческого учета. Элементами научной новизны являются, во-первых, уточнение целей разработки учетной политики с выделением особенностей бухгалтерского, налогового и управленческого учета для дальнейшей оценки эффективности ее положений. Во-вторых, - описание основных проблем при обосновании содержания учетной политики для целей бухгалтерского учета, вызванных стремлением хозяйствующих субъектов к снижению трудоемкости учетных процедур в целом, что приводит, как правило, к приоритетному выполнению задач налогового учета в ущерб целям бухгалтерского (финансового) и управленческого учета. Смещение акцента на принцип рациональности при разработке учетной политики может способствовать снижению инвестиционной привлекательности бизнеса вследствие более низкого финансового результата, формируемого по данным бухгалтерского учета, и минимального объема информации, раскрываемой в бухгалтерской (финансовой) отчетности. The accounting policy is regulated by the same standards of both Russian and international accounting. Despite this, when disclosing the nature and purpose of accounting policies in RAS and IFRS, different emphasis is placed. If the national standard focuses directly on accounting and the principles of its management, then IFRS pays more attention to the rules and principles of financial reporting, and, consequently, the interests of its users. The purpose of the study is to focus on the need to comply with the legislation to the maximum extent, and in an effort to reduce the complexity of accounting in General, not to ignore the interests of owners and investors. The effectiveness of the accounting policy is evaluated by the authors as an additional method for increasing interest in the organization's activities from potential investors, which can be achieved if the accounting policy provides for disclosure of certain information in the accounting (financial) statements. To increase the interest in accounting information from internal users when making management decisions, the authors propose to expand the methodological aspect of accounting policy disclosure of issues of cost accounting and other objects for management accounting purposes. Elements of scientific novelty are clarification of the goals of accounting policy development, highlighting the features of accounting, tax and management accounting for further evaluation of the effectiveness of its provisions, as well as a description of the main problems in justifying the content of accounting policies for accounting purposes caused by the desire of business entities to reduce the complexity of accounting procedures in General, which usually leads to priority implementation of tax accounting tasks to the detriment of accounting (financial) and management accounting goals. A shift in the focus on the principle of rationality in the development of accounting policies may reduce the investment attractiveness of a business due to a lower financial result generated from accounting data and a minimum amount of information disclosed in accounting (financial) statements.
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Perkova, M. V., I. N. Chechel, A. M. Dubino, and I. P. Chechel. "Reconstruction with using a comprehensive assessment." E3S Web of Conferences 281 (2021): 02025. http://dx.doi.org/10.1051/e3sconf/202128102025.
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The relevance of the topic is determined by the need to solve a complex of problems related to the reconstruction of cultural heritage objects of regional significance with adaptation to modern use, taking into account investment attractiveness. The problem of preserving cultural heritage in a post-industrial society is due to the preservation of the memory of the place, its history and traditions. Preservation and restoration with the cultural heritage objects adaptation to a new function preserves the urban identity, makes the urban environment unique and attractive for residents.Urban planning and space-planning analysis of the cultural heritage object was carried out with the aim of its reconstruction and adaptation for modern use. Options for reconstruction and adaptation were developed. The decision options are justified by a comprehensive assessment for decision-making. The list of criteria and questions for quantitative assessment were clarified specifically for the process of reconstruction of the cultural heritage site.As a result of the quantitative analysis, an objective result was obtained that allows evaluating the effectiveness of the developed proposals from the point of view of the population, authorities, business and other participants in urban development. The optimal conceptual project proposal was identified. The proposed measures will help to preserve the object of cultural heritage, create new jobs, and implement cultural and social projects for various consumer groups.
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Chechel', I., M. Per'kova, A. Dubino, and I. Chechel'. "RECONSTRUCTION WITH THE ADAPTATION OF THE OBJECT OF CULTURAL HERITAGE OF THE BUILDING OF THE OFFICE AND THE CITY ESTATE OF THE MAGISTRATE KURCHANINOV IN BELGOROD." Bulletin of Belgorod State Technological University named after. V. G. Shukhov 7, no. 3 (December 16, 2021): 52–60. http://dx.doi.org/10.34031/2071-7318-2021-7-3-52-60.
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The relevance of the topic is determined by the need to solve a set of problems related to the reconstruction of cultural heritage sites of regional significance with adaptation to modern use, taking into account investment attractiveness. The problem of preserving cultural heritage in a post-industrial society is due to the preservation of the memory of a place, its history and traditions. Preservation and restoration with the adaptation of cultural heritage sites to a new function preserves the urban identity, makes the urban environment unique and attractive to residents. The town-planning and space-planning analysis of the cultural heritage object is carried out with the aim of its reconstruction and adaptation for modern use. Options for reconstruction and adaptation have been developed. Decision options are justified by a comprehensive assessment for decision making. The list of criteria and questions for quantitative assessment have been specified specifically in relation to the process of reconstruction of a cultural heritage site. As a result of quantitative analysis, an objective result is obtained. It allows evaluating the effectiveness of the developed proposals from the standpoint of the population, authorities, business and other participants in urban development. The optimal conceptual design proposal has been identified. The proposed activities will help preserve the cultural heritage site, create new jobs, and implement cultural and social projects for various consumer groups.
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IGNAT'EV, V. G. "CRITERIA FOR INVESTMENT ATTRACTIVENESS OF THE REGION." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 2, no. 6 (2020): 114–17. http://dx.doi.org/10.36871/ek.up.p.r.2020.06.02.016.
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Today, sustainable development of any region of the Russian Federation is impossible without effective investment activities. It is the active investment activity of a particular subject of the Russian Federation that is a prerequisite for its development. Attracting investment to the region is a key task, which actualizes the study of theoretical and methodological features of investment attractiveness of the region and its criteria. The article summarizes the conceptual apparatus of investment attractiveness and systematizes the criteria for investment attractiveness.
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Яна Сілова and Вадим Пустовіт. "SYSTEMATIZATION OF FACTORS AND CRITERIA OF INVESTMENT ATTRACTIVENESS." Bulletin of the National Technical University "Kharkiv Polytechnic Institute" (economic sciences), no. 1 (December 28, 2021): 88–94. http://dx.doi.org/10.20998/2519-4461.2020.1.88.
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In conditions when own resources are limited, enterprises need cash receipts from investors, which will serve as a necessary complement to their own funds. For this reason, at the present stage, the relevance of scientific research and practical development in the field of research of investment attractiveness of enterprises is increasing. However, the issue of assessing the investment attractiveness of an enterprise has not yet been fully considered; there is no single theoretical and methodological base, which is due to the lack of an accurate interpretation of the term "investment attractiveness of an enterprise" itself, as well as the methodology and methodology for its assessment. Thus, the relevance of the study is due to the need to analyze and systematize existing approaches to the study of investment attractiveness of enterprises. In economic studies, investment attractiveness is understood as a complex indicator characterizing the feasibility of investing in an economic entity. The investment attractiveness of the enterprise depends both on external factors characterizing the level of development of the industry and the region in which the enterprise in question is located, and on internal factors - the results of the enterprise itself. Thus, an assessment of the investment attractiveness of an enterprise can be carried out by various methods aimed at identifying positive and negative factors of influence. The investment attractiveness of the enterprise is characterized by a set of indicators of its activity, which determines for the investor the area of the desired values of investment behavior. Investment attractiveness has a number of basic aspects: scientific, technical, commercial, environmental, institutional, social, financial and investment. The conclusions presented in the scientific article are the initial stage in the study of this topic.
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Palyvoda, Olena, Oksana Karpenko, Valentyna Vlasova, Nataliia Bondar, and Olga Mishulina. "Evaluation of seaports’ investment attractiveness." Investment Management and Financial Innovations 17, no. 3 (September 18, 2020): 160–74. http://dx.doi.org/10.21511/imfi.17(3).2020.13.
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Ukraine’s European integration requires the involvement of seaports in the international TEN-T network, so it is extremely important to create favorable investment conditions to develop port infrastructure. This study aims to make a comprehensive assessment of the seaports’ investment attractiveness to use it for increasing the efficiency of attracting investment in the development of Ukrainian seaports, which are part of the European transport network. The study was conducted using the Saati method and the method of calculating the integrated indicator of seaports’ investment attractiveness. The integrated indicator includes assessing indicators of business activity in the region and consolidated indicators of financial and property status, logistical attractiveness, and prospects for port development. According to the results of calculations, the seaports of Ukraine were divided into three groups. The ports of Yuzhne, Odesa, Illichivsk, and Mykolaiv have a high level of investment attractiveness. The ratio of investment attractiveness ranges from 3 to 2.6. The ports of Izmail, Mariupol, Oktyabrsk, and Kherson have an average level (ratio from 2.2 to 1), and other ports have a low investment attractiveness (coefficient from 0.9 to 0.7).
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Irynchyna, Inna. "ECONOMIC ANALYSIS AS A TOOL OF TRANSFORMATION OF THE FORMAT OF ACTIVITY OF MEDICAL INSTITUTIONS." Economic Analysis, no. 30(1, Part 2) (2020): 53–59. http://dx.doi.org/10.35774/econa2020.01.02.053.
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Introduction. The formation of a modern model of development of the national health care system presupposes the existence of economically efficient and financially viable medical institutions. The collaboration of economics and medicine is designed to facilitate the transformation of existing hospitals into medically and economically efficient actors in the national health care market in the face of global threats to human health and budget deficits. Methods and tools of economic analysis should be the basis for the formation of a model of profitable medical business. Goal. Substantiation of the algorithm for the formation of cost-effective medical business entities based on economic analysis in terms of reforming the national health care system. Method (methodology). Methods of analysis and synthesis, induction and deduction are used in determining current trends and problems of development of a new format of self-financing of medical institutions in the formation of the national health economy and the formation of an algorithm for profitable medical institutions. Results. It is proposed to apply the criteria for evaluating decisions to achieve financial and economic efficiency of medical institutions: effectiveness - medical efficiency; cost effectiveness - economic efficiency; necessity - necessity; feasibility probability of realization / feasibility. Factors of potential success of medical business and investment attractiveness are singled out. A model of calculating the potential profitability of a medical institution according to the ratio of available resources (value of medical services and medical technologies) and the time required to implement the updated idea (mission) of the medical business is proposed. An algorithm for forming a medical business or improving the existing format of a medical institution in the conditions of the national health economy has been built on the basis of methods and tools of economic analysis.
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Ignatiev, Vladimir G., and Marina R. Shamsutdinova. "FACTORS AND STRATEGY OF STIMULATING ENTREPRENEURIAL ACTIVITY IN THE REGION." EKONOMIKA I UPRAVLENIE: PROBLEMY, RESHENIYA 5, no. 11 (2021): 130–34. http://dx.doi.org/10.36871/ek.up.p.r.2021.11.05.019.
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Today, the sustainable development of any region of the Russian Federation is impossible without effective investment activity. It is the active investment activity of a particular subject of the Russian Federation that is a prerequisite for its development. Attracting investments to the region is a key task, which actualizes the study of the theoretical and methodological features of the investment attractiveness of the region and its criteria. The article summarizes the conceptual apparatus of investment attractiveness and systematizes the criteria of investment attractiveness.
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Fyliuk, Halyna, and Kateryna Akulenko. "METHODOLOGICAL PRINCIPLES OF EVALUATION OF INVESTMENT ATTRACTIVENESS OF THE ENTERPRISE." Baltic Journal of Economic Studies 4, no. 5 (February 11, 2019): 387. http://dx.doi.org/10.30525/2256-0742/2018-4-5-387-395.
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The purpose of the research is a complex of theoretical and applied provisions on the formation, evaluation, and improvement of the methodology of evaluation of the investment attractiveness of enterprises. Methodology. In the process of research, the following methods were used: methods of comparison, analysis and synthesis is used in determining the features of conceptual approaches to the concept of investment attractiveness of an enterprise and the formation of the author’s definition of this category; method of diagnostic evaluation is used in the evaluation of existing models for analysing the investment attractiveness of enterprises; method of expert evaluation is used for the building of flexible limits of levels of investment attractiveness of the enterprise; methods of system and structural analysis is used for developing the basic elements and the general structure of the model of interpretation of the method of graphical integration; the method of graphic integration is used within the construction of graphs of investment attractiveness of enterprises A and B. The aim of the study is to justify of the approach to create a model that can justify of the feasibility of investing and determine the factors and conditions of investment attractiveness of the enterprise for different participants of the investment process. The findings of the study. The results of the research suggested an improved definition of the concept of investment attractiveness of the enterprise, which took into account the following disadvantages of existing approaches to the present essence of the concept: the investment attractiveness of the enterprise is often associated with the system of financial and economic indicators of the activity of enterprise, while not taking into account also an important social and psychological factor, since the very name of the term “investment attractiveness of the enterprise” includes the social-psychological element in the form of the concept of “attractiveness”, which is widely used in economic literature; the subjective view of the potential investor on the fact that the object being considered for investing to satisfy the investor’s expectations regarding the economic or social effect is significant. This aspect is key in determining of concept of investment attractiveness of the enterprise, when choosing an investor of an enterprise to invest its capital for the purpose of investing; it is necessary to achieve consistency and symbiosis between the evaluation of financial and economic, socio-psychological, industrial, innovative, environmental and other factors, which in the complex form the investment attractiveness of the enterprise; using the expression “high level of profitability on investment with minimal risks” is partially incorrect in some definitions of the investment attractiveness of the enterprise since obtaining high profits involves a certain level of risk and each investor knows about this; the importance of increasing the investment attractiveness of the enterprise has the level of involvement of innovation in the activities of the enterprise in the frames of use of investment capital; the targeting of almost all definitions only on high financial and economic indicators, which, depending on the situation, are not always correct. A complex system of indicators for evaluation of the investment attractiveness of an enterprise is proposed, consisting of six groups of indicators (market position, property complex, profitability, financial stability, risks, innovative potential), each of which includes six coefficients determining the level of investment attractiveness for this group. The features and advantages of this system of indicators are: complexity and complementary to standard methods with indicators of the level of investment risk and innovative potential of enterprises; standardization of indicators; unidirectionality of indicators; Flexibility of the recommended limits for each coefficient. The method of graphical integration of the investment attractiveness of the enterprise, which has several advantages over other methods, proposed in the scientific literature, is offered because: it is a combination that includes the advantages of an integral method, as well as a market, and partially matrix method; it allows quantifying various aspects of economic activity of the enterprise by the elementary calculation of a certain number of coefficients; it does not require significant time to spend on the evaluation; it has a mathematical justification since the final indicators for comparing the investment attractiveness of several enterprises are calculated using the numerical integration method; it has the flexibility of determining the level of investment attractiveness of an enterprise by incorporating into the methodology in accordance with the socio-psychological component of the concept of investment attractiveness and the interests of the investor; gives a visual interpretation of the results of investment attractiveness assessment.
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DOTSENKO, INNA, and LESYA MATVIICHUK. "MODEL OF EVALUATION OF INVESTMENT ATTRACTIVENESS OF THE ENTERPRISE." MODELING THE DEVELOPMENT OF THE ECONOMIC SYSTEMS 2, no. 2 (August 2021): 6–11. http://dx.doi.org/10.31891/mdes/2021-2-1.
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In the modern financial and economic conditions of business entities, ensuring the investment attractiveness of the enterprise is the key to its profitability and long-term development. The article considers the essence of investment attractiveness of enterprises. Based on the analysis of literature sources, the concept of investment attractiveness of the enterprise is clarified, which can contribute to a more accurate and clear definition of the processes associated with this activity. Under the "investment attractiveness" as an economic category should be understood as the level of efficiency of the available financial and economic resources of the enterprise, the indicators of which allow potential investors to draw conclusions about the need and feasibility of investing in the enterprise. It is found that the main components of the formation of investment potential of the enterprise are indicators of profitability, liquidity and solvency, business activity, financial stability. In the process of analyzing the literature and conducting a theoretical study identified various methodological approaches to assessing the investment attractiveness of the enterprise, among which are such classic tools as the method of sum of coefficients, the method of complex assessment, the method of sum of places. Their critical analysis is carried out, the advantages and disadvantages are determined. It is proved that the most clear and substantiated assessment of the level of investment attractiveness of the enterprise is considered in the methods based on the definition of the integrated indicator of investment attractiveness of the enterprise. This is the simplest method of analyzing the level of investment attractiveness, which requires the least time, and also allows you to quickly track negative trends in the enterprise, based on the calculation of financial ratios. It is substantiated that the assessment of the level of investment attractiveness of the enterprise should be carried out through rapid assessment, which is based on the calculation of an integrated indicator and provides analysis of the effectiveness of the main coefficients of financial condition based on comparison of marginal (critical and normal) and actual values. The proposed model of rapid assessment allows you to get an objective picture of the financial condition and efficiency of the existing investment attractiveness of the enterprise.
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Lyulyov, Oleksii V., and Bogdan A. Moskalenko. "Assessment of Country Investment Attractiveness Evaluation Approaches." Mechanism of an Economic Regulation, no. 4 (2020): 119–28. http://dx.doi.org/10.21272/mer.2019.86.12.
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Investment attractiveness of a country, and approaches to its evaluation have been thoroughly debated over few last decades. Initially, the key question concerned the reasons as to why large number of resource holders (financial funds, technologies, management systems etc.) would locate their assets, especially research and development projects, in other countries rather than remaining in their home economies. Increasing the quantity and quality of contacts with developed countries within investment process is crucially important for the development of Ukrainian economy. As follows from that point, the authors have identified features of approaches to investment attractiveness evaluation on a macroeconomic level analyzing latest works of scientists and researchers around the world. It is believed, that the most valuable type of investments for future GDP growth is funds from multinational corporations: they bring not only money, but technologies, and decision how make new businesses profitable. Thus, the fundamental consideration for countries competing for investments is the influencing and improvement of such factors through effective investment incentives policies. Within this work, we researched recent studies of investment attractiveness evaluation around the world, and assumed key points for improving and applying those approaches in Ukrainian economy. Within literature analysis the authors structured approaches to the evaluation based on the methods and subjects those approaches used. The most common methods are related to econometric analysis of statistical data that is collected and published by international institutions and rating agencies. Current analysis shows a tangible dependence between country investment attractiveness and the dynamics of FDI inflows. This dependence is not always straightforward, which is explained by influence of many other determinants within decision-making process. The authors suggest that involving independent experts from respective sectors of the economy could help to optimize the results of statistical data analysis. The expert survey provides the necessary correction coefficients which are to increase the accuracy and relevance of the investment attractiveness evaluation. The authors proposed a generalized approach to assessing the country investment attractiveness, taking into account international experience and features of the Ukrainian economy. Key words: investments, country investment attractiveness, foreign direct investment, investment attractiveness evaluation.
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Grishina, Irina, and Vladimir Myakshin. "Interregional differentiation of investment attractiveness in Russia: new evaluation tool." E3S Web of Conferences 301 (2021): 01004. http://dx.doi.org/10.1051/e3sconf/202130101004.
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The insufficient validity of the positioning of regions in different Russian investment ratings, in particular, the observed convergence of regional assessments, is due to a number of methodological problems. The purpose of the study is to develop a tool to determine the impact of various components of investment attractiveness on the growth of investment activity in the regions and to ensure a balance of interests of the actors of the investment process (regional government bodies, private investors, the population). We developed an original system of indicators for comprehensive assessment of the investment attractiveness of regions including productional, financial, socio-economic, natural, innovative, infrastructure, and personnel components and proposed the balanced assessment method. Based on the matrix of integral indicators we show significant interregional differentiation of investment attractiveness for the North-Western Federal District and determine the key factors of investment attractiveness formation for those regions, including natural resources - for 5 regions, innovations, infrastructure and personnel for 3, production-financial factors for 2, and socio – economic factors for 1 region. The developed methodology allows to justify the priority directions of increasing investment attractiveness aimed at activating investment processes in Russia’s regions.
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Matsybora, Tetiana. "Evaluation of investment attractiveness of agricultural enterprises." Ekonomika APK, no. 1 (January 31, 2019): 50–55. http://dx.doi.org/10.32317/2221-1055.201901050.
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Fefilov, Alexey, and Elena Shсhetinina. "EVALUATION OF THE ALTAI REGION INVESTMENT ATTRACTIVENESS." Economics Profession Business, no. 1 (2019): 71–76. http://dx.doi.org/10.14258/201910.
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Boarin, Sara, and Marco E. Ricotti. "An Evaluation of SMR Economic Attractiveness." Science and Technology of Nuclear Installations 2014 (2014): 1–8. http://dx.doi.org/10.1155/2014/803698.
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The nuclear “renaissance” that is taking place worldwide concerns the new build of GW size reactor plants, but smaller GenIII+ NPP (Small Modular Reactors, SMR) are on the verge to be commercially available and are raising increasing public interest. These reactor concepts rely on the pressurized water technology, capitalizing on thousands of reactor-years operations and enhancing the passive safety features, thanks to the smaller plant and equipment size. On the other hand, smaller plant size pays a loss of economy of scale, which might have a relevant impact on the generation costs of electricity, given the capital-intensive nature of nuclear power technology. The paper explores the economic advantages/disadvantages of multiple SMR compared to alternative large plants of the same technology and equivalent total power installed. The metrics used in the evaluation is twofold, as appropriate for liberalized markets of capital and electricity: investment profitability and investment risk are assessed, from the point of view of the plant owner. Results show that multiple SMR deployed on the same site may prove competitive with investment returns of larger plants, while offering, in addition, unique features that mitigate the investment risk.
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Prunenko, Dmytro, Yevhenii Hrytskov, and Abolkhasanzad Alyreza. "ANALYSIS OF THEORETICAL AND METHODOLOGICAL PRINCIPLES OF ENTERPRISES INVESTMENT ATTRACTION EVALUATION." Economic Analysis, no. 28(1) (2018): 18–22. http://dx.doi.org/10.35774/econa2018.01.018.
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The purpose of the article is to systematize theoretical and methodological principles and justify the application of an integrated approach to assess the investment attractiveness of enterprises. Among the approaches we can highlight the following ones: cost, spatial, income, factor, matrix, integral, analytical, approach, which is based on determination of the current and future status of investment attractiveness of enterprises, comparative, approach, which is based on the system of qualitative and quantitative indicators that is applied to assess the investment attractiveness of enterprises, approach, which is based on the application of the correlation and regression analysis method, an investment-based approach. In order to determine the investment attractiveness, it is proposed to use an integral approach based on appropriate methods and models that allows us to estimate the integral indicator for the formation of the estimated basis for increasing the investment attractiveness of the subjects of management. The methodological approach to the integrated assessment of the investment attractiveness of enterprises is proposed. It is based on the definition of the integral indicator and the application of analytical, expert and hierarchy analysis methods by modelling the investment attractiveness indicators. This approach enables to form informational and analytical support for the development of the enterprise management strategy. It has been determined the information and analytical support for estimating the investment attractiveness of enterprises on the basis of accounting and financial reporting, data on the application of technologies and means of production, level of preparation and use of workers, features of the material and technical base, directions of interaction between different groups of interested persons, information regarding the application of scientific and technical development, which ensures the security of the corporate information system, the quality and completeness of information.
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Petrov, A. M., R. V. Savkina, A. A. Kuzmina, M. V. Poluleh, and T. A. Belousova. "ASSESSING INVESTMENT ATTRACTIVENESS THROUGH SUSTAINABILITY CRITERIA IN TURBULENT ECONOMY." BULLETIN 4, no. 386 (August 15, 2020): 181–88. http://dx.doi.org/10.32014/2020.2518-1467.118.
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TRUSOVA, Natalia V., Tetiana A. CHERNIAVSKA, Yurii Y. KYRYLOV, Viktoriia H. HRANOVSKA, Svitlana V. SKRYPNYK, and Liubov V. BOROVIK. "Investment Attractiveness of the Economy of the World Countries in the Polystructural Space of Foreign Direct Investments." Journal of Advanced Research in Law and Economics 11, no. 2 (March 31, 2020): 645. http://dx.doi.org/10.14505/jarle.v11.2(48).35.
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The article deals with the theoretical, methodological and practical aspects of ensuring a safety level the investment attractiveness of the world countries economy in the polystructural space of foreign direct investments. In the context of the implementation of investment policy and factors in the field of international investment, an optimization model of the investment attractiveness of the national economy has been developed. The aggregate factors of the investment attractiveness index, which characterize the investment climate, investment activity and the state of economic development of the country, are highlighted. A methodical approach is presented to determine the synergistic impact of foreign direct investment on the country's investment attractiveness indicator. The criteria of normalization of investment attractiveness of the economy of the country by indicators of macroeconomic, monetary and currency status, which are formalized by indicators-stimulators, destimulators and interaction of bilateral boundary constraints are proposed. The criteria of identification of risks and threats of safe and dangerous state of development of the economy of the countries by the methods of prognostic extrapolation of foreign direct investment are taken into account. A comparative assessment of global foreign direct investment flows and global GDP, the value of net sales of cross-border mergers and acquisitions was made. The structure of foreign direct investment by regions of the countries of the world is considered, taking into account their external reserves of investment potential. The indicators of investment attractiveness of the Ukrainian economy and its cooperation with EU countries in terms of the volume of inflow and direct investments are presented. The scenarios for the growth of foreign direct investments in the polystructural space of the world and developing countries are proposed.
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Dzhioev, Vladimir Alekseevich. "Regulation for assessment of investment attractiveness of the Russian regions." Финансы и управление, no. 3 (March 2020): 29–38. http://dx.doi.org/10.25136/2409-7802.2020.3.29881.
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The subject of this research is the procedure for assessment of investment attractiveness of the Russian regions. A favorable investment situation is an important factor for investors in making their decisions, and this requires a transparent, information comprehensible and methodologically simple tool for assessment of investment attractiveness of a region. There is a need to develop criteria for assessment investment attractiveness of the Russian regions, which would allow determining the competitive advantages or underachievement of the specific regions and formulating recommendations based on the acquired results of assessment of investment attractiveness of the Russian regions. The author proposes a 6-stage assessment procedure of investment attractiveness of the Russian regions, which would calculate the final indexes of the integral assessment of investment attractiveness for each region under consideration, with the possibility of further comparison of the indexes and their ratings. Each index is calculated on the basis of 6 to 11 variables, and reflects corresponding subsystem of the factors of investment attractiveness of a region. The developed assessment procedure of investment attractiveness of the Russian regions can be valuable for the potential investors for the purpose of minimization of possible losses, as well as or public authorities for analyzing the development trends of a region and investors’ behavior.