Essence Of Investment Research Articles

Strategic Investment Management for Enterprises in Uzbekistan's Economic Landscape

This paper explores the role and interdependence of information activity and investment in the enterprise but is devoted virtually to any existing research that focuses mainly on Uzbekistan itself. Research is relevant in the current economic conditions of the country due to the martial law. According to the study, there is a vital need for a well-structured investment policy that will stimulate the recovery of the economy by financial stabilization, restructuring, and market reforms. If existing material provides generally accepted information about the essence of investment, the questions of applying information systems for resource optimization remain open today. It seems appropriate to use a UNIDO qualitative analysis methodology that has been adapted for the goals of the research. As a fact, it makes clear who the main users of the resulting information are, if it is identified: shareholders, creditors, and enterprise administration, specifying its functions and creating a practically formulated algorithm. According to the study, such activities can substantially improve the quality of projects at the expense of considering both internal financial information and the measurements of external environmental influence. In conclusion, it states that the studied method allows for balancing the interests of all enterprise stakeholders, gaining a way to find a more successful way of functioning and investment policy form and perform the latter. It means that companies that use this method will also be able to make investments during the post-war period and in the coming years to ensure a stable economic future.

Analysis of the Current State of Investment Activity in Ukraine: Macro- and Micro-level

The article deals with the essence and significance of investment activity at the macro- and micro-levels as the main factor of changes in the economy and interdependence of countries and enterprises. The article’s authors prove that the development of investment processes in all areas of activity is a necessary condition for effective business organization. It is noted that the significance and essence of investments is reflected in their functions. The authors define functions of investments at the macro- and micro-levels. The authors consider variable factors of the macro- and microeconomic environment that affect investment processes in a particular industry. To determine the state of investment activity at the macro-level, the authors have conducted a research of foreign investment. The article discloses the dynamics of foreign direct investments in the economy of Ukraine and from the economy of Ukraine in other countries, their share in a total volume of foreign direct investment, the dynamics of capital investment and their share in the structure of GDP. The author studied and identified major objects for investing in Ukraine. The article describes the role of domestic investments as the most active element of economic growth in the country. The article highlights modern obstacles to its development. Since Ukraine remains geographically, economically, and socially attractive country for investing at both macro- and micro-levels, the authors suggest to identify prior areas for improving its investment climate.

Investment policy of the Russian Federation and its subjects

In the conditions of modern economic development, the subjects of the Russian Federation are given an increasingly important role in increasing the scale and priorities of their investment activities. The formation and implementation of the investment policy of the regions of the Russian Federation is becoming, in general, an important innovative and socially oriented direction of the economic policy of the Russian state. The primary and twofold goal of the regional investment policy is the mobilization of state investment resources while creating favorable and comfortable conditions for the activation of investment activity. It is in the constituent entities of the Russian Federation that projects are being implemented to modernize the production potential, structural shifts in the region’s economy are being laid and developed, and the necessary economic and social facilities are being created again. According to the majority of economists, the problems of investment policy, all its most important directions, have been and remain relevant, in general, for the Russian Federation and its regions: the emasculation of the economic essence of investment, investment recession, i.e. an increase in the number of subjects of the Russian Federation with decreasing volumes of investment activity.

State regional investment policy: instrumental support

The problems of investment policy, of all its most important directions, in the opinion of most economists, were and remain relevant, in general, for the Russian Federation and for its regions: the emasculation of the economic essence of investment, the investment recession, i.e. an increase in the number of constituent entities of the Russian Federation with decreasing volumes of investment activity. In the context of modern economic development, the constituent entities of the Russian Federation are assigned an increasing role in increasing the scale and priorities of their investment activities. The formation and implementation of the investment policy of the regions of the Russian Federation is becoming, in general, an important innovative and socially oriented direction of the economic policy of the Russian state. The primary and two-pronged goal of the regional investment policy is to mobilize state investment resources while simultaneously creating favorable and comfortable conditions for enhancing investment activity. It is in the constituent entities of the Russian Federation that projects for the modernization of production potential are being implemented, structural shifts in the region’s economy are being laid and developed, and the necessary economic and social facilities are being created again. The article presents the basic principles of the formation and implementation of the state regional investment policy.

ІНВЕСТУВАННЯ В ЛЮДСЬКИЙ КАПІТАЛ ЯК СКЛАДНИК КОРПОРАТИВНОЇ СОЦІАЛЬНОЇ ВІДПОВІДАЛЬНОСТІ

The article considers investing in human capital as a component of corporate social responsibility (hereinafter CSR). It is studied that human capital is the main strategic resource of any enterprise, and an extremely important component of intangible assets. The concept of corporate social responsibility for investing in human capital is highlighted. The essence of investments in human capital and their features are considered. The benefits of investing in human capital for the state, enterprise and employee. The research carried out by the center "Development of corporate social responsibility" is analyzed. The tendencies of introduction of corporate social responsibility at the enterprises of Ukraine are investigated. The essence of such concepts as "corporate social responsibility" and "human capital" is revealed. Modern problems of socially responsible investment development in Ukraine are outlined. The advantages of introduction of corporate social responsibility for economic growth of the enterprise and economy as a whole are defined. The analysis of scientific works and research shows that the problems of investing in human capital are studied by many domestic and foreign economists. It has been proven that investing in human capital is one of the key components of corporate social responsibility. Ways to increase the effective use of human capital in the business entity to obtain high results and motivate productivity, they can be: taking online courses, which will help improve skills without leaving the production; increase work motivation; investment by the company in human capital. With the help of these tools, the company will be provided with highly qualified personnel and will increase its competitiveness in market conditions. It is established that it is necessary to stimulate enterprises to introduce corporate social responsibility, because this is a concept that does not immediately, but over time provides additional financial benefits. Corporate social responsibility minimizes the non-financial risks that an enterprise may incur. It directly affects financial performance and competitiveness, but in the long run.

РОЛЬ ИНВЕСТИЦИЙ В РАЗВИТИИ МАКРОЭКОНОМИКИ

The scientific article reveals the essence of investment at the macroeconomic level. Investments in various fields of activity, regions, and the national economy as a whole are considered. The stages of the historical development of investment theory, the role of investment in macroeconomics, the dynamics of investment, and the prospects for investment development in Russia are described in some detail. A set of measures is proposed to stabilize the economy and improve the investment climate.

Становлення сучасного підприємницького середовища в аграрному секторі економіки України

Goal. To reveal the influence of innovations and investments on the formation of the modern business environment, to characterize the types of innovations in the agricultural sector, and to propose an algorithm for their implementation. Methods. Dialectical methods of cognition of processes and phenomena, monographic method (analysis of the evolution of scientific achievements of Ukrainian and foreign scientists on the introduction of innovations and formation of the innovative business environment in the agrarian sector of the economy), comparative analysis (the basic differences of innovations in agro-industrial production), empirical (complex analysis of the object of study), abstract (theoretical generalizations and conclusions). Results. Theoretical and practical provisions for the formation of the modern business environment have been further developed, and the impact of innovations and investments on this process has been studied. The necessity of innovative activity of economic entities in the agricultural sector of the economy is substantiated. It is proved that investments are the basis for the formation of the modern business environment with innovative processes. In the historical context, the mechanism of introduction of the innovative approach to agricultural commodity production offered by prince V. Kudashev is studied. A specific example shows the positive impact of the innovative approach to agricultural production. They proposed an algorithm for introducing innovations in the production activities of economic entities in the agricultural sector. Conclusions. The main differences in innovations in the agricultural sphere are investigated. The essence of investments and their influence on the formation of the business environment is revealed.

CONCEPT, ESSENCE AND LEGAL NATURE OF INVESTMENTS

Creating a favorable investment climate is one of the most important tasks of the economy, however, the legal regulation of investment activity in Russia has a number of serious shortcomings. The quality of legislation on investment relations depends on an objective and deep understanding of the legal nature of investments. In this regard, the author seeks to study various approaches to determining the legal nature of investments. The methodological base of the research was based on the methods of formal logic and concrete scientific methods, technical-legal and historical-genetic methods. The author's position is based on the current legislation and the opinions of legal scholars on the legal nature and essence of investments. Based on the analysis of current legislation, the author points out the problem of determining investments in normative acts and in legal science. Various approaches to the concept of «legal nature» and «legal essence» and opinions on the legal nature and essence of investments and investment contracts are outlined. The author's definition of the category «legal nature» is proposed. As a result, the author comes to the conclusion that in order to establish a unified legal and scientific definition of investments, it is necessary to determine their legal essence and legal nature, which in turn requires studying and describing the primary characteristics of investments in the context of economic science at the time of the emergence of this category.

Cash Flow Optimality and Investment Returns: Investors Expectations in Listed Manufacturing Firms in Nigeria

This study investigated the effect of cash flow optimality on investment returns in selected listed Manufacturing companies in Nigeria. The population consisted of listed 66 manufacturing companies on the Nigerian Stock Exchange. 25 of these manufacturing companies were purposively selected for a period of 10 years (2010-2019). The study employed data obtained from the published financial statement of the selected manufacturing companies. Panel data analysis was employed while diagnostic tests were carried out and an application of the Hausman test provided the criteria for choosing between Random Effect Models and Fixed Effect Models. Jarque-Bera Normality, Breusch, and Pagan Lagrangian multiplier tests were conducted to confirm the Hausman test results in order to decide between Random Effects and Pooled OLS. The study found that cash flow optimality had a positive statistically significant on return on assets, AdjR2 = 0.099; Wad-chi2 (4, 245) = 22.22; P-value = 0.000). Furthermore, the study revealed that cash flow optimality exhibited a positive statistical effect on Tobin’s Q, (AdjR2 = 0.130; F (4, 245) = 2.884; P-value = 0.025). Thus, the study recommended that since the essence of investment is the expected returns, managers of manufacturing companies should ensure that all strategic decisions are channeled towards this direction, and ensure efficient resources management and cash flow optimal management towards meeting investor returns expectations.

ОСНОВНЫЕ НАПРАВЛЕНИЯ ИНВЕСТИЦИОННЫХ СТРАТЕГИЙ И АНАЛИЗ РЫНКА ЦЕННЫХ БУМАГ ИНИВИДУАЛЬНЫХ ИНВЕСТОРОВ РЕСПУБЛИК БАШКОРТОСТАН И ТАТАРСТАН

The article is devoted to the implementation of individual investors' activities in the securities market. The main directions of investment strategies are defined. The formation and rapid development of the stock market in Russia creates the necessary prerequisites for large-scale and efficient use by investors of securities transactions. The functioning of the stock market provides for the acquisition, on certain conditions and for a certain period, of free cash resources, raising funds through the issuance and sale of securities and channeling them to the technical renewal of enterprises, their reorientation to the production of competitive products. The stock market creates the conditions for the movement of capital as a result of intersectoral competition, while forming a complex system of markets in which demand and supply for various means of payment are formed and concentrated. In recent years, due to certain historical and economic circumstances, new types of investors begin to dominate in the securities market in Russia – in particular, individual investors, who represent one of the most promising groups of investors in the securities market. The purpose of the work is to determine the directions of investment strategies of an individual investor in the securities market, as well as conduct investment analysis of the Republic of Bashkortostan and Republic Tatarstan. The object of the study is the activities of individual investors in the securities market. The objectives of the work are: 1. Definition of the main directions and essence of investment. 2. Identification of investor opportunities. 3. Analysis of investment in the Republic of Bashkortostan. 4. Analysis of investment in the Republic Tatarstan. The basis of this work is the work of foreign and Russian researchers in the field of investment. This paper analyzes the investment of the stocks market of the Republic of Bashkortostan and Republic of Tatarstan. Based on the results of the analysis, conclusions and proposals for attracting investors were formulated.

Theoretical essence of investment and investment-one process in investing firm energy enterprises

The article examines the theoretical nature of investment and the investment process in investing in agricultural enterprises. It is noted that the investment theory began to take shape simultaneously with the world market, the development of which was caused by the great geographical discovery of the XV-XVI centuries. The investment theory of the era of mercantilism is considered. It was proved that they identified the wealth of the nation with money, and money with precious metals. In the works of physiocrats, investment was considered as a process aimed at restoring and increasing capital, with the help of which not only production in agriculture is carried out, but national wealth as a whole grows. Representatives of the school of neoclassical direction, it was determined that the proposal is governed by the bank interest rate, which acts as the offer price in the capital market, and demand - the rate of return on invested capital, which gets the entrepreneur. It is proved that in the broad sense of Keynesian investment theory can be considered protectionist, since it promotes the protection of the national economy from foreign investment. Based on an analysis of investment research, leading foreign and domestic scientists have made certain conclusions in determining the nature of investments and the investment process in investing in agricultural enterprises. Considered the main factors affecting the volume of investment. Focused on an investment project. It has been proven that the development and implementation of an investment project (primarily a production focus) under market conditions consists of three phases: pre-investment (a preliminary study before the final investment decision); investment (design, contract, contract, construction) and production (phase of economic activity of the enterprise). In turn, these phases are divided into stages and stages: investment motivation, forecasting and programming of investments, rationale for investment, insurance of investments, government regulation of the investment process, investment planning, financing of the investment process, design and pricing, provision of investments with material and technical resources, development of investments, preparation for production, previous delivery and acceptance into operation, final Dacha facility. The significance of the investment component of the development and operation of an agricultural enterprise is described, the role of which is exacerbated in the context of the instability of the economic environment and the permanent lack of financial resources. Keywords:investment project, financial resources, net profit margin, lending rate, inflation.

HISTORICAL SIMULATION UNTUK MENGHITUNG VALUE AT RISK PADA PORTOFOLIO OPTIMAL BERDASARKAN SINGLE INDEX MODEL MENGGUNAKAN GUI MATLAB (Studi Kasus: Kelompok Saham JII Periode Juni - November 2017)

The essence of investment is a placement of a number of funds at one time in hope of gaining profits in the future. One of the most traded forms of investment is stocks. When investing in stocks, investors often run the risk of loss. This loss risk can be overcome by forming a portfolio consisting of several shares. To form an optimal portfolio, investors must first determine an efficient portfolio that produces a certain level of profit with the lowest risk, or a certain level of risk with the highest level of profit. One method for determining the optimal portfolio is to use the Single Index Model method. Whereas to calculate Value at Risk (VaR) using the Historical Simulation method. In this study, researcher used data from the daily closing price of shares incorporated in the Jakarta Islamic Index (JII) stock group in the period of June - November 2017. The shares which will be used were 9 shares in the JII stock group. According to the research result, there are three stocks that go into an optimal portfolio that is SMGR, UNTR, and KLBF with the value of each of its shares respectively by 48,54%, 46,18%, and 5,28%. While the value of the Value at Risk with initial capital of Rp100.000.000, 1 day holding period and a trust level of 95% for optimal portfolio and each stock that goes into optimal portfolio amounted Rp2.090.283, Rp2.258.600, Rp3.403.000, and Rp2.564.200. Keywords: Share, Portofolio, Single Index Model, Value at Risk, Historical Simulation, JII.

Логістика інвестиційних процесів як фактор економічного аналізу

Висвітлено підходи до дискурсивного пізнання інвестиційної діяльності в контексті реформування вітчизняної економіки. Конкретизовано дефініції інвестицій та логістики для потреб дослідження розглядуваних феноменів у перехідній економіці. Виділено особливості логістичного потоку. Відповідно до сутності інформаційних та фінансових потоків визначено завдання кожного з елементів логістичної інвестиційної структури. Досліджено питому вагу та значення інвестиційної діяльності поміж іншими видами звичайної діяльності підприємства. Окреслено характерні риси інвестування та специфіку інвестування логістичної сфери. Визначено загальні засади дискурсивного пізнання економічних процесів, на основі яких було вдосконалено методику аналізу ефективності інвестиційних проектів. Аналіз ефективності інвестиційних операцій у кожного з учасників (інвестор, позичальник, ринок (покупець)) дає змогу визначити загальну ефективність в економічній системі. Запропоновано методику логістичного аналізу ефективності інвестиційних проектів. Визначено та обґрунтовано концептуальні підходи до аналізу ефективності інвестиційних проектів на засадах логістики та запропоновано концептуальну схему логістичного аналізу ефективності інвестиційного проекту.

ІНВЕСТУВАННЯ У РИНКОВІ ЦІННІ ПАПЕРИ

В статті розглянуто сутність інвестицій в цінні папери через дослідження їх інвестиційної привабливості, цілей інвестування та етапів їх здійснення. Зазначено, що з розвитком фондового ринку у економічних суб’єктів збільшуються можливості інвестування коштів в цінні папери, що пов’язано з усвідомленням інвесторами інвестиційної привабливості цінних паперів. Обгрунтовано, що чим більш ефективним буде управління процесом інвестування, тим вищим буде ефект від здійснених вкладень, і, відповідно, швидше відбудуться позитивні зрушення в розвитку економіки.
 Інвестиційна привабливість цінних паперів досліджена через комбінацію їх інвестиційних якостей, які в сучасній економічній літературі також прийнято називати інвестиційними властивостями, характеристиками або споживчими властивостями. Вони визначаються інвесторами залежно від цілей інвестування. Задля аналізу особливостей інвестування було розглянуто види та причини інвестування в цінні папери. Зазвичай інвестор самостійно обирає будь–який з доступних шляхів інвестування. При цьому, важливо пам’ятати основне правило фінансів: чим вище доходність, тим вище ступінь ризику. Інвестування в різні цінні папери (акції, облігації і т.д.) різних компаній дає можливість встановити прийнятний ступінь ризику для інвестора.
 Інституційні інвестори, залучаючи кошти індивідуальних інвесторів, які потім вкладають у цінні папери інших емітентів, істотно впливають на функціонування ринку цінних паперів та його активність.
 Здатність інституційних інвесторів до ефективного перерозподілу тимчасово вільних ресурсів досягається шляхом оцінки можливих ризиків і мінімізації їхніх негативних наслідків.

ШЛЯХИ ФОРМУВАННЯ МЕХАНІЗМУ ІНВЕСТИЦІЙНОГО ЗАБЕЗПЕЧЕННЯ ВІДТВОРЮВАЛЬНИХ ПРОЦЕСІВ В КОСМІЧНІЙ ГАЛУЗІ

Article is devoted analysis of modern problems of financing of reproduction processes in space industry of Ukraine. The nature of reproduction process in space industry and its basic stages is analysed. The essence of investments is specified and their functions in provision of reproduction processes in space industry are characterised. The recent state of domestic space industry and its influence on competitiveness of national economy is analysed. The basic tasks of investment provision of processes of reproduction in space industry are specified. The nature of measures which can stimulate development of space industry in Ukraine and provide financing of the expanded reproduction in the given industry of economy are discovered. In particular, the mechanism of debt financing of space industry at the basis of issue of target bonds of an internal public debt, and also a direction of development of state-private partnership in financing of processes of reproduction in space industry are analysed. Possibility of creation of venture capital funds for investment financing in innovative development of space industry of Ukraine is considered.