Abstract
The article is devoted to the consideration of theoretical issues and methodology for building an effective investment policy of an enterprise, taking into account that for enterprises operating in most fundamental sectors of the economy, including construction, oil and gas, transport, industrial production, etc., an important aspect that requires consideration in the development of investment policy is the impact on the environment. Environmental aspects impose restrictions on the choice of investment directions, applied methods and technical and economic indicators of projects and determine the potential competitive advantages of projects, including through the use of forms of state support. Environmental aspects of investment activity should be considered not only as basic constraints in the development of project solutions, but also as one of the factors of the enterprise’s competitiveness, which significantly affects its investment potential in the medium and long term. The authors also present a system of key principles for the formation of an enterprise’s investment policy taking into account environmental aspects and form a schematic diagram for the development of an enterprise’s investment policy taking into account environmental aspects. The use of the proposed methodological tools will help to increase the stability and efficiency of both the internal environment of the enterprise and its external environment, that is, the socio-economic system in which it operates.
Highlights
As part of the enterprise 's investment planning, it is necessary to carry out a comprehensive analysis of possible investment options, which determines the direction of investment that will give maximum profit, make the enterprise more stable in economic terms or achieve other significant results. [1,2]The efficiency of the investment activity of the enterprise is determined by the quality of a well-designed and developed investment policy
It is important that policies allow for the analysis of the returns of each project, taking into account its inherent risks. [6,7] In the theory of financial management, it is customary to distinguish three types of investment policy of an enterprise based on the criteria of investor's risk preferences: conservative, moderate, and aggressive
A moderate investment policy is aimed at selecting investment objects that have the highest level of current returns, capital growth rates, and risk levels that are close to the average market
Summary
As part of the enterprise 's investment planning, it is necessary to carry out a comprehensive analysis of possible investment options, which determines the direction of investment that will give maximum profit, make the enterprise more stable in economic terms or achieve other significant results. [1,2]The efficiency of the investment activity of the enterprise is determined by the quality of a well-designed and developed investment policy. - selection of priority activities, development directions for the enterprise; - analysis of projects, implementation of which will give maximum profit at permissible risk level; - development of plans and forecasts: technological, financial, marketing In his works, Yendovitsky D.A. formulated the definition of investment policy of a commercial company as a general guide, according to which a program of further investments is built. Aggressive investment policy is aimed at maximizing current income from capital investments in the near future In implementing this policy, the assessment and accounting of the level of investment risk and the possibility of increasing the market value of the enterprise in the long term is assigned a supporting role. The main task of the investment policy is to allocate limited resources among the selected areas and projects, to form an investment portfolio, which will include projects selected for implementation
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