High Investment Attractiveness Research Articles

Venture investments into digital education in the conditions of industry 4.0: problems of attraction and directions of usage

Purpose The purpose of the paper is to develop a perspective mechanism of the investment and innovative activities of university in the conditions of industry 4.0, which allows supporting its high investment attractiveness and high effectiveness of usage of venture investments in digital education. Design/methodology/approach The research is performed by the example of modern Russia with application of the methods of trend analysis and regression analysis in two consecutive stages. The authors determine regression dependence of the efficiency of digital modernization of universities (on the basis of the indicator of fixed assets implementation) on the volume of investments into fixed assets. Dependence of the indicator of digital competitiveness of education (“training and education”), calculated within the part “knowledge” of the IMD rating “world digital competitiveness ranking,” on commissioning of fixed assets by universities is determined. For the purpose of representativeness of the selection of statistical data, which initial period is 2012, not only factual data for 2012-2018 are used but also forecast data for 2019-2024 (as the national program “digital economy of the Russian Federation” is due until 2024). Findings Low effectiveness of usage of venture investments in digital education in Russia is substantiated. As investments are provided in the form of target state financing, universities cannot independently determine the directions of their usage and have to use them for purchasing digital equipment and technologies. Other necessary measures for digital modernization of education, namely, training of digital personnel for university, access to digital infrastructure, development of new educational programs, conduct of research and development and marketing, are not implemented. Originality/value It is determined that attraction of private venture investments faces the problem of their large volume and high risk. Both problems could be solved by the developed mechanism of investment and innovative activities of a university in the conditions of industry 4.0. It shifts the initiative from university to digital business, which independently initiates the process of venture investing.

THE MATRIX MODEL FOR ASSESSING THE INVESTMENT ATTRACTIVENESS OF AGRICULTURAL ENTERPRISES

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.

THE FACTORS INFLUENCING ATTITUDE OF “ESPORTS” PEOPLE IN BANGKOK, THAILAND

Electronic Computer Sport is a video game competition, characterized by using virtual space competitive features, which are generated by computer programs. The development of e-sports, on the one hand, implies the emergence of new industries, forms of commercial activity with a high investment attractiveness. On the other hand, critics of the e-sports concept in Thailand are increasingly claiming the negative consequences of its development, such as an increase in the young people dependence on gadgets, a change in their consciousness and attitude, an increase of young people unreadiness to live in the real world. The article presents results of study of Bangkok residents and their relationship to the problem of electronic sports, outlined the prospects for its legalization and growth of attractiveness for Thai business.

About differentiation of regions of the Russian Federation on the level of investment attractiveness

The purpose of the article is consider in research of statistical methodology for studying regions of the Russian Federation in terms of investment attractiveness. The world practice shows that investment growth ensure the economy growth both at national level and regional level. The maxim is proved by the experience of most countries which have committed in the past decade a sharp spurt in its economic development. This realization has led to the fact that both developed and emerging economies try to attract investment in the economy on a national and regional scale and it is considered as one of the priorities of economic policy In the context of geopolitical instability, deteriorating economic conditions, the weakening of the Russian Federation in the global market need to pay more attention to the investment policy and the attractiveness of the regions. Investment activity and attractiveness of territories today – a reserve of development and real way to achieve strategic objectives. An important factor in the development of regions is their investment attractiveness. Meanwhile, at present there is no method of statistical research of investment attractiveness adapted to regional features. Regions of the Russian Federation have significant differences in investment attractiveness by various factors. The article analyzes factors which influence the inflow of investments in the regions of Russia and identifies groups of regions with similar characteristics of investment attractiveness. Materials and methods. The methods of evaluation of investment attractiveness of territories (regions and cities) are discussed. The reasons for the investment is proposed to be assessed by the production potential of the regional economy, the domestic market of the region, sectoral types of economy (agriculture, extraction of natural resources), and the infrastructure of the region. The methodological basis of the study consists of works on regional statistics, mathematical modeling, and econometrics. Graphic and tabular methods of visualization of research results, statistical methods of analysis of economic phenomena were used. To solve the tasks of the study, application packages SPSS, Statistica were used. Results. This paper provides an analysis of Russia’s investment attractiveness and demonstrates current investment situation in the country. In conclusion, this report addresses key challenges of attracting investment in Russia, clarified the essence of investment attractiveness as an object of statistical research; revealed features of the regions; recommendations on the formation of a system of statistical indicators characterizing the investment attractiveness of the region; identified groups of regions with similar characteristics of investment attractiveness. Conclusion. The article discusses differentiation of Russian regions in their investment activity, analyses the factors led to this differentiation. The heterogeneity of investment space in Russia is one of the features of its economy. High investment attractiveness is a key factor in improving the competitiveness of the country, a significant and sustained financial growth. Identification of regions with similar characteristics of investment attractiveness allows us to develop management solutions adapted to regional characteristics.

Complex systems of management of marketing activity of meat farming enterprises

The components of marketing management are systematized and definitions of th econcept of marketing management in the Ukrainian and foreign scientific literature are generalized. The components of marketing management at three levels of the organization a structure represented. The components of the marketing management process are presented: the mission of the enter prise; establishment of marketing objectives; collection, analysis and processing ofi nformation for the purpose of analyzing market opportunities (4C: company, context, client, competitors); identification of strengths and weaknesses, opportunities and threats enterprise; development of marketing strategy; realization of marketing strategy; periodic monitoring of marketing efforts and making necessary changes; development of strategic marketing programs for specific situations, assessment of marketing performance and staff motivation. Most marketing professionals consider managing a marketing process at three levels of organizational structure: on a corporate, business unit and functional and core activities –analysis, planning, implementation, and control. The process of marketing management is to implement functions, each of which is a set of analytical and appraisal tasks and strategic, tactical planning. When introducing marketing in to the enterprise management system, it is necessary to ensure the creation of marketing services with such functions as, studying markets, determining the market capacity, identifying buyers requirements for the product, ensuring product competitiveness, organizing product promotion on the market, for ming supply chain for high value added products, the processing of by-products and waste products. In order to ensure the high performance of the marketing unit at the enterprise it is expedient to form close relationships with other management departments and orient the management system to meet the needs of consumers in quality, price and other consumer properties. Features of the environment of functioning of domestic producers of poultry meat characterized by a high level of monopolization, increased uncertainty as factors of the internal and external environment of the supply chain, stable dynamics of growth in production volumes are considered. This situation is conditioned by the peculiarity of meat poultry farming, where the peculiarity of the technological process determines the rapid return on invested capital and the high investment attractiveness of the industry, which resulted in the construction of innovative poultry farms, mostly of a vertically integrated type. It was established that the basis for the creation of specialized divisions in the field of marketing were sales and supply departments, which in previous years functioned at these enter prises and performed a wide range of functions, including analytical ones. The basic requirements, which are presented to the structure of management of marketing activity are systematized: flexibility, efficiency, optimality, efficiency, reliability, stability. The structure of management of marketing activities of thee nterpriseis, in the most general form, the subordination of managerial links between objects and management entities, which characterizes the information communications of units that have hierarchical subordination and are endowed with certa in rights and responsibilities. In order to improve the management process of marketing activities of meat poultry enterprises, the flexible orientation of the final results of their activities to the requirements of consumers, approaches to assess the effectiveness of marketing activities areproposed. Effectiveness of the management process of the enterprise should be conducted on the basis of assessment of the factors of market orientation of the highest level of management of the enterprise, market orientation of staff, the establishment of interaction between staff and senior management, the level of openness of the external environment of the management system.The main factors restraining the management of the company in full implementation of the principles of the modern marketing concept are systematized, namely: a narrow unde rstanding of the essence of marketing, monopolization of the market, the lack of qualified specialists in the field of marketing, lack of financing of marketing activities. Key words: marketing management, marketing activity management system, marketing structure, meat poultry enterprises.

Polarity of the Regional Space – the Dilemma of Shaping the Investment Attractiveness of Poland

This study aims to show how the polarisation of the economic space can modify the investment attractiveness of the regional space. A thesis has been put forward that the polarisation of the economic space affects the investment attractiveness of the regional space by strengthening the polarising power of the regions with the highest investment attractiveness. This study uses the results of the parameterisation of investment attractiveness of Polish regions for 2015 by gmina; it also identifies growth poles in four five-year time periods: 2008–2012, 2009–2013, 2010–2014, and 2011–2015. The study shows that the permanent growth poles are created at a distance of several dozen kilometres from large cities. It indicates the depletion of development reserves of large and medium-sized cities, especially those with extensive space management. Smaller centres are gaining location attractiveness, especially those located in the vicinity of communication routes, where access to investment areas and lower costs of running a business attract investors. Special economic zones are also located in such places. The poles and their clusters usually form large agglomerations and industrial centres in the development phase. They are usually places with high investment attractiveness, adjusted by management decisions of large enterprises, local government units and the state government. The polarisation of the economic space affects the increase of the investment attractiveness of the regions, strengthening the succession of economic production and service functions in special economic zones. Investments in road infrastructure and revitalisation processes supported by special economic zones are essential.

Innovation and investment potential of region as a factor of its "smart transformation" – a case study of Kharkiv region (Ukraine)

Formulation of the problem. Kharkiv region has recently been increasingly positioned as a "smart region" and Kharkiv as a "smart city". Moreover, the emergence of "smart economy" and the availability of people with jobs is one of the strategic objectives for the city development by 2020. The formation of Kharkiv region as an "intelligent region" with "smart economy" implies, among other objectives, a comprehensive development of innovation and investment activities in the region, its transformation into a Ukraine's leading innovation and investment center. A mandatory condition of the region’s progressive socio-economic development is the economy of innovation type, which is impossible without investment. The purpose of the article is to analyze the innovation and investment potential of Kharkiv region as a factor of its smart transformation, to identify the features of its formation and use in the aspect of the formation of Kharkiv region as a "smart-region". Results. In this paper positioning of Kharkiv region and the city of Kharkiv as a smart region has been defined. The key goals and objectives of development towards a "smart economy", as well as basic factors of becoming "intelligent (smart) economy" are given. The authors analyze innovation and investment potential of Kharkiv region as a factor of its smart transformation; reveal the features of its formation and use in terms of Kharkiv region’s formation as a "smart-region". The place of Kharkiv region in the national dimension was determined according to individual indicators of innovation and investment activity and, in general, according to the innovation and investment potential with the help of the mathematical and statistical analysis. In particular, it is noted that Kharkiv region occupies the 2nd place in Ukraine in terms of the integral indicator of the formation and use of innovation and investment potential yielding only to Kyiv. According to the results of factor analysis, the factors of formation and use of innovation and investment potential of the Kharkiv region (socio-economic, resettlement, housing and trade and socio-demographic), their content (factor loadings) and intraregional peculiarities of influence (factor scales) were substantiated. Using a cluster analysis (Ward’s method, Euclidean distance), grouping of cities and districts of Kharkiv region was conducted based on the similarity of their innovation and investment activities (4 groups of cities and 5 groups of districts were identified). The results of cluster analysis made it possible to conclude that Kharkiv region is characterized by considerable territorial differentiation of the peculiarities of the formation and use of the innovation and investment potential of its administrative and territorial units, which is primarily due to the specifics of their socio-economic development. The undisputed leaders are the city of Kharkiv and Kharkivsky and Dergachivsky counties, which are characterized by the highest investment attractiveness and innovative activity, and in general, the largest innovation and investment po-tential. Thus, clustering allowed defining the features of innovation and investment potential in territorial distribution of the region, identifing problems and outline prospects for further use of the region’s available resources.

Development and Implementation of Energy Efficient Burners at Power Stations

The article deals with the coal thermal treatment for boiler firing with minimal consumption of fuel oil. The estimation of commercial effectiveness of innovation projects using this technology proves its high investment attractiveness.

Rozwój rynku venture capital/private equity w Polsce

The aim of this article is to present, extensively analyse in an empirical way and assess the development of Polish venture capital and private equity market from its beginning up to the present day, taking into account the issue of capital acquisition, investment and disinvestment. The research was conducted on the basis of the empirical data provided by the European Private Equity and Venture Capital Association, the establishment engaged in gathering the statistics of the high risk capital market in Europe. Conclusions drawn from the empirical part of the article suggest the dynamic development of the venture capital and private equity market in Poland and its possible further advancement. The results of the research indicate the growing trust of European investors in the Polish venture capital and private equity market and the high investment attractiveness of our country, particularly in the East-Central Europe. The substantial support to the development of the Polish high risk capital market is provided by the dynamic expansion and high activeness of Warsaw Stock Exchange.

Duch przedsiębiorczości w proinwestycyjnych działaniach władz lokalnych

The acquisition of new investors in a municipality is not a direct obligation of local govern-ments but rather one of the indications of the change in the philosophy of municipal manage-ment – from administration (local government) to management (local governance). Time andcost consuming comprehensive proinvestment activities can be implemented only in thosemunicipalities where among the local authorities the spirit of entrepreneurship is alive. G. Gorzelak (1998) indicated that on the local level the leadership quality is the most endogenic factor oflocal success, including luring new investors.To examine the significance and diversity of local authorities’ attitudes in their pro-investment activities in the local governments, in fourteen selected municipalities in Poland a compa-rative analysis was conducted. Pro-investment activities, implemented since 1990, and theireffects, in the form of arrival of new investors, were studied. Our research covered the municipa-lities distinguished by potentially high investment attractiveness which is hardly dependent onthe local authorities’ activities: good transportation availability, considerable real-estate resour-ces that are suitable for potential investors and good availability of qualified labor force. Conse-quently, we excluded the municipalities in which even very intense works of their local authoritiesfailed to develop new opportunities to attract many new businesses