Investment Activity Research Articles

Proof Of Criminal Origin Related To Money Laundering In Mutual Fund Investment Activities In Supreme Court Decision Number 2937 K/Pid.Sus/2021

The crime of money laundering in the form of mutual fund investments is a serious crime that can threaten the stability of the financial system and economy. Perpetrators use mutual funds as a means to disguise the origin of illegal funds resulting from criminal acts, such as corruption, which are then invested as if they were legitimate funds. This not only harms the country financially, but can also reduce investor confidence in the mutual fund industry. Therefore, it is important to examine the criminal liability of perpetrators of money laundering in mutual fund investments in order to maintain the integrity of the financial system and provide a deterrent effect for perpetrators of similar crimes. This research is aimed at analyzing the legal regulation of criminal acts of money laundering in mutual fund investment activities in Indonesia, proof of predicate crimes related to criminal acts of money laundering in mutual fund investment activities in Supreme Court Decision Number 2937 K/Pid.Sus/2021, as well as criminal responsibility for perpetrators of these crimes. money laundering crime in mutual fund investment activities in Supreme Court Decision Number 2937 K/Pid.Sus/2021.The research method used is normative juridical research, which is supported by primary and secondary data sources. All legal materials were collected using library research techniques using document study data collection tools. Apart from that, field studies were also carried out using interview methods and analyzed qualitatively.The results of the research and discussion concluded that the legal regulations related to the crime of money laundering in mutual fund investment activities in Indonesia are as regulated in Law Number 8 of 2010. Based on Supreme Court Decision Number 2937 K/Pid.Sus/2021, it can be concluded that the defendant Benny Tjokrosaputro proven to have committed a criminal act of corruption together with other parties in managing investments at PT Asuransi Jiwasraya (Persero) which caused state losses amounting to IDR 16.807 trillion, as well as a money laundering crime of IDR 6.078 trillion, so he was sentenced to life imprisonment and payment of compensation to the state, based on valid evidence at trial and the fulfillment of the elements of the criminal act in accordance with the articles charged.

A methodology to assess indicators of technological development of the industry: The electronics industry case

Subject. The article deals with assessing the technological development of the industry. Objectives. The focus is on development and testing of a methodology for evaluating indicators of technological development of the industry. Methods. The study rests on general scientific principles and research methods, like abstraction, generalization of approaches to industry’s technological development assessment, analysis, synthesis, systematization, and generalization of obtained results. Results. The developed methodology includes five stages: (1) assessment of preconditions for technological level change; (2) analysis of intensity of modernization; (3) analysis of staff development, growth of labor productivity and remuneration level; (4) assessment of innovation activity; (5) analysis of consequences of changes in the technological level as an increase in value added, return on capital, and sustainable growth. Conclusions. I tested the methodology on data from a sample of electronic industry enterprises (OKVED 26 Manufacture of Computer, Electronic and Optical Products). Calculations show that there are evolutionary, but not large–scale changes. However, there are no signs of noticeable innovative development. At the same time, there are significant changes in individual companies, like PAO Element, controlled by State Corporation Rostec Group. The analysis of the company's consolidated financial statements showed a significant inflow of resources, an increase in investment and innovation activity, staff development, an increase in value added, return on capital, and accelerated growth.

Outward direct investment as a shelter from external trade policy shocks: Firm‐level investigation of the US–China trade war

AbstractThis study examines the effects of external trade policy shock from the US–China trade war on firm value. Using a merged data set of Chinese‐listed companies, our empirical results reveal that Chinese firms conducting outward direct investment in the US have significantly higher stock returns around the date of the outbreak of the trade war as compared with the lower returns of exporting firms. This indicates a sheltering effect of pre‐existing outward direct investment activities. Moreover, we find that the sheltering effect is more pronounced for production‐oriented projects, high tech industries and tariff‐targeted sectors, while it is weaker for state‐owned companies.

The Determinants of Monetary Policy in Malaysia: Impact on Economic Activity

The overnight interbank rate is a key tool for central banks to influence economic activity and maintain financial stability. It represents the rate at which banks lend and borrow short-term funds from one another, often overnight, and plays a crucial role in monetary policy transmission. Changes in this rate can affect borrowing costs and credit availability, which in turn impacts consumption, investment, and economic activity. Bank Negara Malaysia (2021) highlights that overnight transactions in the interbank market operate alongside the Kuala Lumpur Interbank Offered Rate (KLIBOR). This study analyzes time series data from 1991 to 2021 to identify relationships between the overnight interbank rate and macroeconomic variables using the ordinary least square (OLS) method. The analysis focuses on unemployment (UR), domestic private credit (DGR), gross domestic product (GDP), foreign exchange reserves (FER), and inflation (I), with data sourced from the World Bank and the Federal Reserve Bank (FRED). The results show that unemployment and inflation significantly impact monetary policy. High unemployment suggests underused resources, often prompting lower interest rates to stimulate investment and economic growth. In contrast, rising inflation typically leads central banks to increase interest rates to slow spending, while falling inflation may result in rate cuts to spur economic activity.

Rationalization of Energy Expenditure: Household Behavior in Poland

Background: The implementation of the EU climate and energy policy, along with changes in the legal environment, has led to a significant increase in energy prices in Poland. Consequently, energy expenditures are now a larger part of household budgets. These rising energy costs and the evolving legal landscape are compelling households to invest in energy-saving solutions and modify their energy consumption habits. This article aims to identify the activities of households in Poland regarding the rationalization of energy expenditures. It formulates the following research hypothesis: households invest in energy-saving appliances to rationalize energy expenditures and/or change their behaviors to reduce energy consumption. Methods: The paper is based on primary research conducted using an online questionnaire survey on a sample of 331 respondents in Poland in March and April 2023. Results: A classification tree algorithm was used to identify the level of investment activities and behavioral changes made by households to reduce energy expenditures. The authors found that low-income households and people who fear further energy price increases are the first of all to change their behaviors for more energy-efficient ones. Medium- and high-income households take investment measures. They replace household appliances with more energy-efficient ones and install heat pumps and photovoltaic panels. These investments are motivated by responsible consumption, environmental protection, cleanliness, and the ease of use of the appliances.

Low-Carbon Rural Areas: How Are Polish Municipalities Financing the Green Future?

The main aim of the research was to assess Polish rural municipalities’ investment activity connected with the development of a low-carbon economy, supported with EU funds in the 2007–2013 and 2014–2020 financial frameworks. The empirical study was based on data from Poland’s Ministry of Development Funds and Regional Policy, Ministry of Finance, and Statistics Poland, analysed through basic descriptive statistics and a logistic model to identify key factors influencing investment activity. The study showed that the greatest number of agreements on funding were, in fact, signed by rural municipalities in the period under analysis. The predominant measures undertaken during this time were the promotion of renewable energy sources and the improvement in energy efficiency. In the earlier financial framework, low-carbon economy projects in rural areas were more often implemented by municipalities with developing demographic potential, including those characterised by a higher level of enterprise development. In the subsequent financial framework, human capital turned out to be of key importance for the investment activity of rural municipalities. Experience gained from 2007–2013 positively influenced fund absorption in 2014–2020, improving project value, number, and support. The study confirmed that rural municipalities play a vital role in advancing a low-carbon economy, as local actions are key to achieving sustainable development and reducing greenhouse gas emissions.

Psychological Determinants of Investment Decisions: Analyzing Financial Behavior in Personal Investments

Understanding the psychological factors that influence investor behavior is critical in the dynamic world of financial markets. Financial conduct encompasses the decisions and behaviors individuals exhibit in managing their finances, including investments in various asset classes. Factors such as risk tolerance, cognitive biases, emotional influences, and financial knowledge significantly shape investment outcomes. Gaining long-term financial success requires mastery over these behavioral aspects. This study investigates the influence of three psychological factors—information asymmetry, problem framing, and risk propensity—on the investment decisions of 220 active investors trading on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). A quantitative research approach was employed, utilizing a structured questionnaire to collect data. Statistical analyses, including regression and correlation analysis, were used to assess the relationships between these psychological variables and investment behaviors. The results reveal significant correlations between psychological factors and investment decisions. Information asymmetry, problem framing, and risk propensity were found to strongly influence individual investor choices. These findings shed light on the intricate role that cognitive biases and psychological processes play in shaping financial decision-making. The study's findings offer valuable insights into the psychological drivers behind investment behavior. By highlighting the impact of these factors, the research contributes to both academic understanding and practical applications for financial professionals. The results underscore the importance of enhancing financial literacy and investor education, enabling more informed decision-making and promoting improved financial outcomes.

Navigating Time-Inconsistent Behavior: The Influence of Financial Knowledge, Behavior, and Attitude on Hyperbolic Discounting

Hyperbolic discounting is a psychological phenomenon in which individuals prioritize smaller immediate rewards over larger future rewards. Time-inconsistent behavior is deemed irrational as it negatively impacts savings and investment, investment in financial knowledge, and long-term financial and personal well-being. This study hypothesizes that improving financial knowledge, promoting positive financial behavior, and fostering a future-oriented financial attitude can mitigate hyperbolic discounting bias and that these three components of financial literacy enable investors to make long-term economic decisions maximizing utility. We analyzed the responses of 114,170 active investors in Japan to examine the interactions between financial knowledge, behavior, and attitude. Our findings reveal a strong negative relationship between these dimensions and hyperbolic discounting, underscoring their crucial role in shaping individuals’ intertemporal preferences. For researchers, our results highlight the need to integrate multidimensional aspects of financial literacy into investigations of intertemporal discounting behaviors. Policymakers should implement holistic financial education programs that improve knowledge, transform behavior, and shape attitudes. Financial institutions and advisors should prioritize programs that mitigate hyperbolic discounting tendencies among clients. This study represents a significant advancement in the research on financial literacy, offering a comprehensive framework for future studies and practical applications aimed at improving financial decision-making outcomes.

Economic development and foreign trade: a сomparative analysis of the United States and China

The article presents a comparative analysis of socio-economic and foreign trade relationships between the United States and the People's Republic of China, two leading countries of the world economy, which exert maximum influence on global processes in economics and politicsas well as in world trade, investment activities and scientific and technical sphere. Today, the rivalry between the two powers has also intensified in the monetary and financial aspect due to the growing importance and share of the yuan in international settlements and government reserves of many countries. This situation continues to worsen smoothly, often having a negative impact on other countries, including the Russian Federation. The purpose of the article is to explore the current state of the demographic situation, the dynamics of GDP and trade turnover of the two countries, to characterize the current situation and identify trends in its development in the medium term, which will make it possible to form the positions and policies of other subjects of the world economy to ensure their stability and balance their actions. The article concludes that both countries are currently experiencing a period of socio-economic and foreign trade turbulence, and its range has not yet shown a tendency to decrease. It is often the United States that acts as the source of this turbulence, trying to overcome the negative processes in its own economy. Therefore, it is important for third countries, for example, Russia, to take consistent measures to ensure national, including foreign economic, security. The methodological basis of the research is statistical, comparative, graphical analysis, the study of reports and archives, calculations based on data from open international statistical databases and official websites of international economic organizations, the main purpose of which is to study the economic indicators of the United States and the People's Republic of China. The study period covers 2012–2023.

Perception of Women Towards Investment in Different Investment Alternatives

Women are empowered to take active participation in investment activities through financial education and an inclusive investment environment. Several alternatives to investing are available, including mutual funds, real estate, precious metals, savings accounts, and stocks, which offer potential returns through regular income or capital appreciation. Investment alternatives are differentiated by their unique features, risks, returns, and ease of management. Investors, before investing, must take these features into account in relation to their risk tolerance, goals, and time horizon when considering any particular alternative. As women are recognized for making risk-averse investment decisions, their investments are impacted by numerous factors. The primary goal of this study is to understand the investment perception of women towards different investment alternatives. While the main factors influencing investment decisions are return, risk, and liquidity, several other factors specifically influence women investors, such as social and cultural norms, peers, and family members. Primary data was collected through a well-structured questionnaire consisting of Likert scale questions. SPSS software was used for data analysis. The initial results of the survey showed that 70% of the respondents had an average understanding of different investment options, whereas only 5% had high knowledge of different investment alternatives. When it comes to interest in a particular investment, mutual funds are the most preferred alternative. Additionally, 72% of women respondents show a moderate level of risk tolerance among all respondents in the study.

China's Real Estate Market: Issues and Countermeasures

The real estate sector plays a vital role in China's economy and is a crucial engine of economic growth. The massive investment and construction activity has promoted the upgrading of infrastructure and the development of manufacturing, construction, and related services, thus strongly supporting the expansion of the overall economy. However, with the rapid growth of the real estate market, some problems that cannot be ignored have also been exposed, including rising housing prices, intensified real estate "speculation," and the environmental impact of real estate projects. These problems may threaten the financial system's stability and negatively impact social equity and the ecological environment. This article aims to delve into the main issues facing the real estate industry today, explore their causes, and propose practical countermeasures, aiming to promote the development of the real estate industry in a healthier and more sustainable model to promote long-term stable economic growth.

Technological progress in central and eastern Europe: Digitalization and business innovation leaders and outsiders

Innovation and the associated digitization of the global economy are becoming the foundation of competitiveness and development. This state of affairs affects all regions and countries of the world, especially enterprises, which need to adapt to stay in the market. The situation is particularly challenging in developing countries, whose economic potential is lower than that of developed economies. Addressing this issue, the article presents the results of a study on the degree of digitization and innovation of enterprises in the countries of Central and Eastern Europe (CEE), which are among the group of developing economies. The research included independent assessments of innovation and digitization in these countries, as well as a combined assessment of both processes. It was based on a set of 17 selected indicators characterizing the processes of digitization (9) and innovation (8). The CRITIC method was used to calculate the weights of these indicators, and the TOPSIS method was used to determine the digitization and innovation indices, as well as the final digitization and innovation index. Using the results of this analysis, relationships were determined between the digitization and innovation indices, as well as between the final index (innovation and digitization) and selected economic parameters of the countries under study (CEE). The results show that companies in the studied countries are highly differentiated in terms of their digitization and innovation. The best results in both dimensions were obtained by the Czech Republic and Slovenia, while the weakest were by Latvia and Romania. In terms of business innovation, the Czech Republic and Slovenia are the best performers, while Latvia and Romania are the weakest. On the other hand, Slovenia and the Czech Republic are the leaders in business digitization, while Romania and Bulgaria are the worst performers. The remaining countries fell within the area of average development in these dimensions. The obtained results should be a valuable source of knowledge for assessing the measures taken to date in CEE countries in the field of innovation and digitization. It would also be advisable to use them in the development and implementation of economic policy and the targeting of investment activities in the EU. A major opportunity, especially for improving the innovativeness of CEE countries, could be the Open Innovation concept. Its wider implementation in these countries should improve their performance in this regard.

The Significance and Practical Exploration of Financial Investment Management in Enterprise Operation and Management

Enterprises can carry out financial investment activity management, and through institutional control, risk prevention and other methods, ensure the stability of financial investment activities, enhance their own risk resistance ability, and provide support for the healthy and long-term development of enterprises. Based on this, this article briefly analyzes the significance and value of financial investment management in enterprise operation and management, elaborates on the current overview of enterprise financial investment management, and explores in depth the path of financial investment management in enterprise operation and management.

Protection of the rights of foreign investors during the state of war in Ukraine

The article is devoted to the study of the protection of the rights of foreign investors during the state of war in Ukraine. The author focuses on the fact that this topic is currently relevant due to the fact that the reconstruction of Ukraine will become necessary. The war caused the outflow of foreign investments from our country. In addition, corruption, pressure from the authorities, and unfair justice are the reasons why foreign investors leave Ukraine. Every investor aspires to work in a state where law and justice reign, so Ukraine, which aspires to membership in the European Union, should create just such a state. Therefore, its primary task is to create a favorable business climate for foreign investors to carry out their activities. Current Ukrainian legislation guarantees compensation and indemnification of losses to a foreign investor, guarantees are also provided in case of termination of investment activity; state guarantees for the protection of foreign investments are defined. In accordance with the Law of Ukraine «On State Support of Investment Projects with Significant Investments in Ukraine», the state provides support to large investment projects. In connection with the introduction of the state of war in Ukraine in 2024, the Law of Ukraine on the insurance of investments against war risks entered into force. The Cabinet of Ministers of Ukraine established a credit agency that provides investment insurance. Although the war made Ukraine unattractive to foreign investors, the authorities are taking all possible measures to improve the country’s investment climate. The author draws attention to the need to study and transpose the experience of successful countries in this regard. For example, Australia offers quite good conditions to foreign investors - consistent economic growth, highly qualified labor force, strategic location, efficient administration and judicial system, and good infrastructure. Mexico is also attractive to foreign investors, the «Invest in Mexico» business center has been created to assist investors. The war is an accelerant for positive changes in the state, and after its end, the reconstruction of Ukraine is an important task, therefore the efforts of all branches of government should be directed at overcoming all obstacles to the effective work of foreign investors in our state.

«Зеленая» экономика в контексте международных инвестиционных соглашений

The matters of green economics within the framework of the environmental transformation of the energy sphere (the energy transition), reduction of the anthropogenic impact on the environment in the course of socioeconomic development, give investment opportunities for international business but at the same time pose specific systemic and structural challenges to investors, states that receive investments, researches and individuals that witness the consequences of the dynamic change of the environment in the contemporary conditions. The presented article studies the evolution of approaches to international law regulation of investment activities from the standpoint of solution of environmental protection and conservation tasks in order to analyze opportunities with regards to the named challenges. Such analysis is used as a basis to conclude that the historical and legal method of studying the problems in question gives an opportunity for a systemic and structural evaluation of the original prerequisites for the logic of development of the international law architecture of regulation of investment activities in respect of goals and tasks of publicly significant environmental protection and conservation interests including the sphere of green economics and minimization of negative consequences of the anthropogenic impact as a result of investment activities, and evaluate the logic and limits of application of international investment agreements to achieve the environmental protection and conservation goals.

On the issue of finding a balance of private and public interests in establishing a zone of integrated development of the territory

Since 2021, the integrated development of the territory has been a key area of urban development designed to ensure the renewal and efficient use of territories, and represents a unique mechanism that includes many measures aimed at stimulating the activities of investors, citizens and authorities, allowing for a significant acceleration of the construction process, economic development, including through attracting private investment. The effectiveness of the implementation of the CRT is achieved solely by ensuring a balance of private and public interests. The article examines the grounds and consequences of establishing a zone of integrated development of the territory in the absence of the necessary legal regulation of the fact determining the moment of the beginning of the implementation of integrated development of the territory. The establishment of a zone of integrated development of the territory determines the formation of a special urban planning regime, the essence of which is revealed by the author. An analysis of legislation and judicial practice indicates that the establishment of a zone of integrated development of the territory significantly limits the variability of actions of right holders of land plots that fall into the zone of the KRT, and enters into dissonance with the purpose of the KRT, which involves attracting extra-budgetary sources of financing for the renovation of built-up areas. The need to improve the CRT mechanism has been identified, taking into account the needs of all stakeholders in ensuring sustainable and harmonious development of territories.

ФОРМУВАННЯ ФІНАНСОВО-ІНВЕСТИЦІЙНОГО ПОТЕНЦІАЛУ ПІДПРИЄМСТВА З ПОЗИЦІЇ СТРАТЕГІЧНОГО ПІДХОДУ

The article analyzes approaches to the concepts of "financial potential" and "investment potential", reveals their content and features. Based on the results of a critical analysis of scientific sources, it is justified that the financial and investment potential of the enterprise must be considered as a single definition, which is determined by a set of general characteristics. Based on the conducted research, the author's definition of the concept of "financial and investment potential" of an enterprise is proposed. The financial and investment potential of an enterprise is the ability of an enterprise to accumulate a set of internal and external financial and investment resources, to use them as efficiently as possible for the purpose of obtaining economic benefits, to ensure strategic and tactical development goals. It has been proven that the financial and investment potential of a business entity has a number of varieties. The classification features of the financial and investment potential of the business entity are singled out, namely: according to the time required to achieve a certain value of the financial and investment potential of the business; depending on the degree of realization of the financial and investment potential of the business entity; depending on the method of obtaining information necessary for assessing the financial and investment potential of the business entity; on the basis of the expected results of the realization of the financial and investment potential of the enterprise. The classification of factors affecting the financial and investment potential of a business entity is generalized. The sequence of development and implementation of the strategy for the formation of the financial and investment potential of the enterprise is proposed. It determines the priority directions of development, the sources of investment resources and the sequence of stages of realization of long-term financial and investment goals, which ensure the overall development of the enterprise's activities in the future. The formation of the financial and investment potential of the enterprise in the strategic perspective is aimed at restoring the stable state of enterprises, including as a result of investment. And it includes the effect of the joint action of financial and investment resources, combining current and strategic goals with the possibility of attracting internal and external sources for financial support of the enterprise's investment activities.

Die Wichtigkeit von Investitionen und Innovationen für den Wirtschaftsstandort

Abstract Investment is a prerequisite for innovation and technological progress. Investment activity in Austria is currently well below the average of the eurozone countries. In view of a decline in the relative competitive position as a result of restrained investment activity, the question of economic policy measures to improve innovation and investment activity arises. The economic literature identifies a number of factors that can have a positive influence on investment and innovation. These include, in particular, access to cheap capital, improvements in the education system to promote human capital, the reduction of bureaucratic obstacles and a reduction of taxation and public debt.

THE MAIN DIRECTIONS OF INCREASING INVESTMENT ACTIVITY IN AGRICULTURE OF THE REPUBLIC OF KARAKALPAKSTAN

Agriculture plays a pivotal role in the economy of the Republic of Karakalpakstan, yet it faces significant challenges that hinder investment activity. This article explores the main directions for enhancing agricultural investment in the region, emphasizing the importance of financial incentives, infrastructure development, technological innovation, and public-private partnerships. By examining the current state of agricultural investment and identifying barriers to growth, the article proposes targeted strategies to attract both domestic and foreign investments. Ultimately, increasing investment activity is essential for improving productivity, ensuring food security, and fostering economic resilience in the region.

Комплексный подход к оценке финансовой безопасности региона

The purpose of the article is to substantiate groups of indicators characterizing the financial component of economic security. At the same time, a comprehensive approach to assessing the financial security of the region based on the relationship with economic security is justified. The application of a multilevel structure of groups of indicators characterizing economic and social factors and threats to financial security is proposed, since they affect the stability and stability of the region’s economy. The main attention is paid to the substantiation of indicators of the financial stability of the region, including those characterizing the debt burden, the level of income of the population, investment activity and the availability of financial resources. The source of information is the integration of data from various sources, including statistical data, government reports and analytical studies.