Reflective approach to attracting investment for projects of development of industrial enterprises
DOI:
https://doi.org/10.21847/1728-9343.2018.2(154).132804Keywords:
reflexive approach, investment, development projects, industrial enterpriseAbstract
The definition of investment attractiveness of enterprises in domestic science is traditionally studied in terms of factors of an economic nature. Researches that present scientific approaches that reveal non-economic factors of attraction of investments are practically absent in Ukraine. In this article the possibilities of attracting investment for projects of development of industrial enterprises on the basis of a reflexive approach are explored.
To do this, a preliminary review of scientific works, representing the traditional model of attracting investment to an industrial enterprise, is called an assessment of the effectiveness of projects and assessment of their investment attractiveness. The stages of such assessment are revealed depending on the source of the advanced funds, the economic factors of the external and internal investment attractiveness of the industrial enterprises, which are contained in the works of domestic researchers, are analyzed. On the basis of the analysis it is proposed to supplement the classification of external factors with two other factors of an economic nature.
The possibilities of a reflexive approach in attracting investment for industrial enterprises development are shown. The corresponding algorithm of investment attraction has been substantiated and developed, which includes blocks of preparation, consideration and practical realization of financing of selected projects in the choice of strategic behavior of all participants of investment and distribution of risks between them. An example of the effect of reflexive strategies on solving conditional investors about investing, which identifies wins and losses from certain investment decisions, is considered.
References
Tkachenko, A.M. and Kushnir, O., 2015. Economic assessment of investment attractiveness of the enterprise. Available at: http://www.zgia.zp.ua/gazeta/evzdia_4_154.pdf (Accessed: 15.01.2018).
Goncharov, V.M. and Bilousova, M.M., 2012. Investment attractiveness of an enterprise: the essence and factors of influence. Scientific works of the Poltava State Agrarian Academy. Sir: Economic Sciences. Issue. 4. Volume 3: 31-35. Available at: https://www.pdaa.edu.ua/sites/default/files/nppdaa/4.3/31.pdf (Accessed: 11.01.2018).
Fesenko, N., 2011. Methodical principles of estimation of investment and innovation attractiveness of the enterprise in modern conditions. Actual problems of the region’s economy development. Vp. 7 (1). Pp. 276-283. Available at: http://www.pu.if.ua/depart/Finances/resource/file/%D0%97%D0%B1%D1%96%D1%80%D0%BD%D0%B8%D0%BA/2011-1/%D0%A4%D0%B5%D1%81%D0%B5%D0%BD%D0%BA%D0%BE.pdf (Accessed: 04.01.2018).
Taranukha, O.M., 2012. Formation of investment attractiveness of enterprises. Bulletin of the National Transport University. № 26 (1). Pp. 524-527. Available at: http://publications.ntu.edu.ua/visnyk/26_1_2013/524-527.pdf (Accessed: 11.01.2018).
Lorin M., Hitt, D.J., Wu & Xiaoge, Zhou, 2002. Investment in EnterpriseResource Planning: Business Impact and Productivity Measures. Journal of Management Information Systems. Volume 19, Issue 1: 71-98. DOI: 10.1080/07421222.2002.11045716
Skrenkovsky, R. M., 2013. Analysis of approaches to assessing the investment attractiveness of industrial enterprises. Effective economy. No. 4. Available at: http://ena.lp.edu.ua/bitstream/ntb/35962/1/14_74-79.pdf (Accessed: 03.01.2018).
Stakhurskaya, S.A.and Romanyuk, O.V., 2012. Methodological approaches to assessing the investment attractiveness of an enterprise. Scientific works of NUKHT. No. 42. P. 157-163. Available at: http://dspace.nuft.edu.ua/jspui/bitstream/123456789/8782/1/txt.pdf (Accessed: 03.01.2018).
Mykytiuk, P.P., 2013. The main criteria for evaluating the effectiveness of investment and innovation projects. Economic space. №71: 125-134.
Yaremenko, O.V., 2012. Estimation of economic efficiency of investment of enterprises of consumer co-operation. Bulletin of the Khmelnytsky National University. №1: 102-105.
Zhdanova, N.A., 2010. Assessment of methods and techniques for determining the effectiveness of investments in energy saving measures. Science and Economics. No. 1 (17): 205-205.
Degtyar, A.O. and Goncharenko, M.V., 2010. Evaluation of the effectiveness of innovative projects: the methodological aspect. State building. № 2. Available at: http://www.kbuapa.kharkov.ua/e-book/db/2010-2/doc/1/01.pdf (Accessed: 08.01.2018).
Rotheroe, N., Richards, A., 2013. Social return on investment and social enterprise: transparent accountability for sustainable development, Social Enterprise Journal, Vol. 3 Issue: 1, pp.31-48. DOI: 10.1108/17508610780000720.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2018 Olga Rusinova, Tetiana Zhovkovska
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
1. Authors bear responsibility for the accuracy of facts, quotations, numbers and names used.
2. Manuscripts are not sent back.
3. The publisher does not always agree with the authors' opinion.
4. The authors reserve the right to authorship of the work and pass the first publication right of this work to the journal under the terms of a Creative Commons Attribution Non-Commercial License, which allows others to freely distribute the published research with the obligatory reference to the authors of the original work and the first publication of the work in this journal.
5. The authors have the right to conclude separate supplement agreements that relate to non-exclusive work distribution in the form in which it has been published by the journal (for example, to upload the work to the online storage of the journal or publish it as part of a monograph), provided that the reference to the first publication of the work in this journal is included.
