Investment Attractiveness Research Articles

Fiscal Policy to Encourage Investment in the Marine Logistics Sector

The marine logistics sector plays a crucial role in a country's economic growth, particularly for archipelagic nations like Indonesia. However, investment levels in this sector remain low, which can hinder potential economic growth. This research aims to analyze various fiscal policies that can encourage investment in the marine logistics sector. The methods used in this research are qualitative and quantitative descriptive analysis. The results indicate that fiscal policies such as tax incentives, subsidies, and government funds allocated for maritime infrastructure development can increase the attractiveness of investment in this sector. Tax incentives, such as reductions in corporate income tax rates, exemptions or reductions in import taxes for equipment, and tax allowance facilities, can be effective instruments to attract investment. Subsidies, such as capital assistance, low-interest loans, and operational cost compensation, can also help reduce investment risks and encourage investor participation. Additionally, adequate allocation of government funds for the development of maritime infrastructure, such as ports, docks, and other logistics facilities, is crucial for enhancing the sector's efficiency and competitiveness. However, fiscal policies alone are not enough. Improved regulations and better law enforcement are also necessary to create a conducive investment climate in the marine logistics sector.

Конкурентоустойчивость экономики региона как квазикорпорации с позиции системного подхода

The presented article describes the essence and economic content of a quasi-corporate approach to the management of modern regions, which are independent subjects of economic relations with key stakeholders of their development. As part of the study, the author's approach to the formation of competitive sustainability of the regional economy is presented based on systemic management of the competitiveness and investment attractiveness of the territorial product. The result of the study was a strategic matrix of measures to achieve the competitive sustainability of the region, which can be implemented in the road maps of executive authorities to clarify plans for long-term socio-economic development in the constituent entities of the Russian Federation, and also a conceptual model for managing the competitive sustainability of the region has been developed from the perspective of a systems approach, which complements current economic research in this field.

Политическое инвестирование бизнеса как категория политической науки: теоретические версии в современном российском контексте

The article proposes a conceptual model of political investment of business, which reflects the political and economic realities of the modern Russian state. In the conditions of unprecedented external pressure on the national economy, political investment by representatives of business circles at the federal and regional levels is one of the effective tools that contribute to the strengthening of internal dialog between society and government represented by public institutions. Also, political investment provides an increase in stability and investment attractiveness of the economy as a whole, reduces the riskiness and corruption component. The author of the article proposes as an initial theoretical and methodological platform for the meaningful disclosure of political investment as a category of political science analysis the classical concept of corporation, which is historically linked to the concept of civil society. The central idea that political investment expresses is the mediation of private and public interests.

Peran Suku Bunga Sebagai Variabel Moderasi: Return On Asset, Debt To Equity Ratio, Current Ratio Terhadap Return Saham Pada Perusahaan Food Beverage yang Terdaftar di BEI 2019-2023

Food and beverage companies are considered attractive investment opportunities due to their extensive use across various societal sectors and their potential to generate substantial returns on invested capital. This study aims to investigate the impact of return on assets (ROA), debt-to-equity ratio (DER), and current ratio (CR) on the stock returns of food and beverage companies listed on the Indonesia Stock Exchange (IDX) from 2019 to 2023. Additionally, it examines how interest rates might moderate the relationship between these financial ratios and stock returns. The research relies on secondary data from the financial statements of these companies during the specified period. A purposive sampling method was employed to select 26 companies from an initial population of 29. The data analysis techniques include panel data regression, classical assumption testing, and multiple regression analysis (MRA) using Eviews 12. The findings reveal that ROA, DER, and CR significantly affect stock returns. Furthermore, the study demonstrates that the interactions between ROA, DER, CR, and stock returns in the food and beverage sector are significantly influenced by changes in interest rates.

Investment attractiveness as a generalized indicator of the competitiveness of a service sector organization

Subject. This article interprets the integral assessment and structures the investment attractiveness of the service sector organization. Objectives. The article aims to consider theoretical aspects and form a system of indicators for assessing investment attractiveness, as well as present an algorithm for calculating the integral assessment. Methods. For the study, I used the methods of systems and content analyses, comparison, and expert assessment. Results. The results of the study confirm the hypothesis that investment attractiveness is one of the indicators of the competitiveness of consumer cooperation organizations. The article presents a chain of values for optimal management of the competitiveness of consumer cooperation organizations on the basis of structuring the investment attractiveness of organizations. Relevance. The results of the study can be used by specialists of public administration when developing strategic policies in the field of cooperation with enterprises in the service sector of a diversified consumer cooperation system to make the investment attractiveness of regional organizations more effective.

Accounting statements in the investment strategies of retail investors

Subject. The article investigates accounting (financial) statements as a source of information for retail investors, and tools to analyze and evaluate the investment attractiveness of a company as a way to reduce the risk of inefficient investment. Objectives. We focus on identification of the place and role of accounting in investment strategies of retail non-professional investors seeking to improve their financial situation by investing in the shares of Russian and foreign companies. Methods. The study draws on general scientific principles of cognition, including the analysis of statistical information, induction, synthesis, etc. Results. The paper presents the results of a survey of retail non-professional investors with experience in investment activities. The responses of respondents involved in the survey on the basis of an electronic platform are presented in a tabular form. We demonstrated the advantages and disadvantages of using various sources of information. The study revealed the key factors of investment attractiveness that retail investors take into account when choosing optimal investment objects. Conclusions. The most competent investors use the tools of accounting analysis and investment attractiveness assessment to build an effective long-term investment strategy. In addition to accounting statements, investors consider some non-financial parameters, like company reputation, brand awareness, ESG rating, etc.

Information-analytical support to business processes for making investment decisions

The object of this study is the business processes of making an investment decision based on determining the state of the investment attractiveness of the enterprise. To support the adoption of investment decisions under the conditions of a fast-moving and dynamic environment, information-analytical support to the algorithm using intelligent information systems has been developed. The relevance of the study is justified by the continuous development of digitization processes, in particular in the financial realm. The traditional approach to the reproduction of management decision-making technology is complemented by the tools and methods of intelligent information systems. In particular, the modeling of the target subject area using UML made it possible to determine the main requirements for the projected information-analytical support (user roles, available options, types of connections and the logic of interaction between them). SQL queries to the information database speed up the process of processing and obtaining the necessary data samples. Business intelligence (BI) tools are used to create interactive reports that provide access to operational financial data. At the stage of making investment decisions, these tools make it possible to study a wide range of analytical data based on the results of the assessment of the investment attractiveness of the enterprise obtained at the previous stage of the developed algorithm. Monitoring of the main indicators of the enterprise's investment attractiveness is carried out on the basis of a dashboard, an information panel (display) with graphs, tables, and figures that clearly reflect the dynamics and rates of change of the investigated indicators. The results of the use of algorithmic information-analytical support make it possible to quickly prepare and make investment decisions. A visual description of the projected information-analytical support, visual content of the results of investment analysis, the validity of decisions due to the use of reliable retrospective information from an aggregated database

Stock market return and merger and acquisition activity in Poland

This article explores mergers and acquisitions trends in the Polish market in a period between 2019 and 2022, focusing on transactions exceeding one million dollars and their correlation with sector-specific stock market returns. The research reveals that the real estate sector, encompassing both development and property management, dominated M&A activity, comprising 25% of transactions in 2022. Significant positive correlations were observed between transaction volumes and average stock market returns, notably in sectors like real estate (R-Pearson = 0.75) and TMT (R-Pearson = 0.87). These findings indicate that sectors with higher returns attracted more M&A activity, reflecting investor confidence and strategic growth opportunities. Despite fluctuations in company valuations post-pandemic, the overall volume of M&A transactions continued to rise, driven by firms with strong cash reserves leveraging lower valuations for strategic expansions. The study anticipates sustained momentum in technology and real estate sectors, alongside emerging opportunities in energy and biotechnology, influenced by global trends and technological advancements. This research contributes valuable insights into the evolving landscape of M&A in Poland, highlighting sectoral attractiveness and strategic implications for investors and businesses.

Социально-экономическая устойчивость муниципалитетов: методика и опыт исследования

Introduction. The issue of socio-economic sustainability of territories has been studied in depth in the scientific literature. This concerns both the concept of socio-economic sustainability itself and its application to the analysis of regional and municipal development. Various aspects of socio-economic sustainability are also addressed in a significant number of territorial ratings currently available on the information market and published by both government agencies and non-governmental structures – analytical centers, rating agencies (RA), and mass media. Most of these information and analytical products relate to the constituent entities of the Russian Federation. A striking example is the rating of regions for the implementation of the federal project “Formation of a Comfortable Urban Environment” from the Ministry of Construction of the Russian Federation. This series also includes the rating of the quality of life in the regions from the Agency for Strategic Initiatives (ASI), the rating of the socio-economic sustainability of regions from the Civil Society Development Fund, the rating of the socio-economic development of regions from RIA Novosti, the rating of the investment attractiveness of regions from RA Expert, and a number of others. A significantly smaller number of such products relate to the municipal level. And this is a big problem of practical and scientific nature, which, in the author's opinion, can be overcome by the developed assessment of the socio-economic sustainability of Russian municipalities.Materials and methods. The presented study used indicators of socio-economic and electoral statistics of municipalities relating to 2022-2023. The main source is Rosstat data. In addition, information contained on the official websites or in the official publications of regional and municipal authorities was used. The work used universal methods of scientific knowledge: analysis, synthesis, generalization.Results. The result of the study was regional ratings of the socio-economic sustainability of municipalities in five subjects of the Russian Federation within the Ural Federal District: Sverdlovsk, Tyumen and Chelyabinsk regions, Khanty-Mansiysk – Yugra and Yamalo-Nenets Autonomous Okrugs.

INVESTMENT CLIMATE IN UKRAINE: SITUATION, PROBLEMSAND POSSIBLE WAYS OF IMPROVEMENT

The article presents the results of a study of the state, problems and possible ways to improve the investment climate in Ukraine in the new extreme conditions of doing business. Improving and stabilizing the investment climate in Ukraine during martial law is necessary to ensure economic development, attract international resources, rebuild infrastructure, strengthen the international image and protect national business. The purpose of the article is to study the state and problems of the formation of the country's investment climate in conditions of full-scale military operations, analysis of the main factors affecting the level of investment attractiveness of enterprises in conditions of uncertainty, study of the main ways and directions of improvement of the investment climate in Ukraine.As a result of the research, it was established that the investment climate should be defined as a set of political, economic, legal, social-cultural, scientific-technological, demographic, infrastructural and natural-geographical factors that form the degree of investment attractiveness and determine the level of investment risk. A model of the formation of the investment climate in Ukraine was built, taking into account the main factors of the internal and external environment of enterprises and organizations under martial law. The main threats and changes in the macro-environment of the country under the influence of the war are structured. It was found that there was not a single field of activity of economic entities that was not affected by the war. One of the main ways to improve the investment climate in Ukraine today is the insurance of military and political risks, which is an extremely important aspect for protecting capital investments and ensuring business development. It is the stabilization of the investment climate that will prevent the outflow of capital abroad and preserve resources for further development. In addition to large-scale infrastructure reconstruction projects, investments can be aimed at supporting small and medium-sized businesses, which are an important source of innovation and jobs.

Peculiarities of the food industry of Azerbajan and the possibilities of their expansion

The food industry is a vital area that has a direct impact on the economies of different countries. Using the example of the Republic of Azerbajan, the dynamics of the food industry and the possibilities of their expansion are analyzed, which reflects a wide variety and mass production of industrial enterprises, confirms the need to form the material and technical base of food production to the level of world standards, which will be a necessary condition for increasing the national competitiveness of the economy. It has been proved that the competitiveness of manufactured products is low, mainly due to a lack of professional staff, low investment attractiveness, weak financing institutions, and insufficient government support. Therefore, it is advisable to form an agrarian policy that will ensure specialization in this area. There are rich potential opportunities for this in the country.

FORMATION OF SPATIAL FACTORS ENSURING THE INVESTMENT ATTRACTIVENESS OF REGIONAL LANDS

It has been proven that modern directions and features of land relations at the regional level require a rethinking of approaches to their formation in the context of ensuring the investment attractiveness of regional lands. The purpose of the study is to identify spatial factors in ensuring the investment attractiveness of the lands of the regions. To achieve the goal, the following tasks were solved: to analyze the state and trends of changes in spatial factors; to substantiate the spatial factors of ensuring the investment attractiveness of the lands of the regions. In order to solve the problematic aspects, it is necessary to define and justify the spatial factors of ensuring the investment attractiveness of the lands of the regions, which is an urgent and timely task. A categorical apparatus for determining the investment attractiveness of the lands of the regions was formed, which is based on a set of interrelated spatial, economic, urban planning, ecological, innovative, security, regulatory and legal factors and modern tools of geo-information systems, methods, models, which made it possible to build a quantitative basis for the development of adoption reasoned decisions regarding the attraction of investments in the field of land relations at the regional level. As a result of the study, the factors of land formation and use that affect the investment attractiveness of the lands of the regions and build the foundation for the creation of spatial support are determined. Spatial factors ensuring the investment attractiveness of land at the regional level are determined. The presented factors are an element of a multi-level system of indicators for assessing the level of ensuring the investment attractiveness of the lands of the regions in the context of the development of the integral assessment method. Spatial factors as an important element of investment attractiveness of regional land use are used in mathematical modeling to establish cause-and-effect relationships and create a basis for characterizing further changes. This makes it possible to develop scientifically based recommendations for ensuring the investment attractiveness of regional land use. Keywords: land use, investment attractiveness of land, regions, spatial factor.

ТЕОРЕТИЧНІ ОСНОВИ УПРАВЛІННЯ ЗЕМЕЛЬНИМ КАПІТАЛОМ ФЕРМЕРСЬКИХ ГОСПОДАРСТВ

The efficiency of farmers' management significantly depends on the effective management of land capital. It has been established that the management of land capital of farms is a system that covers all social relations and generally determines the set of relationships between the elements of the management system aimed at the rational and environmentally responsible land use. The subsystems of land capital management of farms are economic, environmental, regulatory, administrative, innovation and management, and land management and technological. The structural model of the system of land capital management of farms includes the subject, object, subject matter, purpose, goals, principles, functions, methods and mechanisms of management. The subject of this system, i.e., the management subsystem, are farms and government authorities of all levels that implement the state land, agrarian and tax policies and supervise compliance with the norms of rational land use. The object of management is differentiated by the depth of the essential content of the definition of “land”, covering land and its fertility, land resources and their capitalization, land and its investment attractiveness, agricultural land (by type) and the efficiency of its usage. The economic interests of landowners, land users, the state, and society are the basis for making managerial decisions by a farmer. It has been shown that the system of land capital management of farms should be based on the following basic principles: systematicity; purposefulness; balance of interests of a farmer, landowners, the state and society in the use of land resources; payment for land use; sustainable development of agricultural land use; rationality and economic feasibility of land use; priority of land protection as the main means of production; responsibility and information. The functions of land capital management of farms include planning of land capital use; forecasting of land capital use in the short, medium and long term; organization of land capital use; motivation and control of rational use of land capital.

Оценка эффективности землепользования в городских агломерациях на основе регрессионно-игрового моделирования

Land use processes are the basic economic processes that determine the efficiency of the functioning of socio-economic systems. This is especially true for large urban agglomerations, for which these processes directly and indirectly significantly affect the volume of revenues to the budgets of various levels, as well as determine the investment attractiveness of the regions. As a result, the principles of rational land use should be based on the results of system analysis and mathematical modeling of the impact of external and internal environmental factors on all subjects involved in the processes of using land plots as the most important resource of the urban economy. The article is devoted to the development of two-level models that involve the use of regression analysis to determine the characteristics of the game matrix in the presence of a sufficiently large number of players with different interests. This approach is distinguished by the possibility of more complete consideration of factors influencing the efficiency of land use when assessing the intensity of land use in large cities and agglomerations, in conditions of external volatility. As a result, the construction of a multiple regression model describing the influence of factors, and the subsequent matrix modeling of game-theoretic conflict situations in land use makes it possible to support decision-making in the development of investment programs for the development of territories. The article discusses an example of the application of the proposed approach to the analysis of factors that have a significant impact on the efficiency of land use in the Moscow agglomeration. The results of the regression analysis led to the conclusion that the predicate of increasing financial and economic returns in the implementation of land use processes is the level of investment in fixed assets. On the example of the Moscow agglomeration, it is also shown that the obtained results of regression analysis can be used in the construction of game-theoretic models of land use, which, in turn, are expedient to apply to support decisions on state management of the market of land plots for various purposes.

Историко-культурное наследие малых городов Республики Крым в контексте конструирования имиджа города

At the current stage of development, towns are in a difficult socio-economic situation, when the slowdown in economic and social development is caused by multilevel processes of an internal, regional and national nature. In many ways, the successful existence and functioning of a city depends on its image, i.e. attractiveness both for investors and tourists, and for the inner society – its citizens. In modern conditions, historical and cultural heritage is the basis of identity and continuity of generations, which, among other things, largely determines the image of each city. The relevance of the work is determined by the significance of the historical and cultural heritage of towns of the Republic of Crimea in the socio-cultural and economic development of the region. The new economic reality actualizes the solution of a complex set of problems that hinder the attraction of investments in towns and are associated with the limited economic base, the low level of development of infrastructure facilities and the socio-cultural sphere. The study of the existing complex of monuments of historical and cultural heritage makes it possible to determine the cultural potential of towns in Crimea and the prospects for its use. The subject of the study is the analysis of the historical and cultural heritage of towns of the Republic of Crimea as an integral part of the urban image. The current development strategy of these cities is aimed at finding, developing and implementing effective methods of adaptation to modern realities, and creating more favorable living conditions for the population. As a result of historical-comparative and structural-functional analyses, the study identifies a close relationship between the cultural potential of towns in Crimea and external factors of influence (geographical and historical-cultural conditions of settlement development).

Аналіз економічного впливу регіонального туризму та рекреаційного потенціалу в Україні

The article is intended to analyze the economic condition of territorial communities and their recreational potential, identify problems of economic development. The main problems are the obsolescence of regulatory methods, insufficient coordination between different levels of government, and the lack of an effective mechanism for monitoring and evaluating the implementation of strategies. An analysis of the current state of tourism in Ukraine and the problems of the development of the tourism industry was conducted. An analysis of the current state of tourism in Ukraine shows that, despite the significant potential, the industry faces many challenges. The current state of the recreational industry of the Veliko Dalnytsia Territorial Community was analyzed and revealed that the region has significant recreational potential, but faces problems such as insufficient infrastructure, limited financial resources, and a low level of investor attraction.

Правове регулювання діяльності генеральних адвокатів у контексті євроінтеграції: виклики та можливості для України

This paper studies the problem of legal regulation of the activity of attorneys general in the context of European integration and its influence on the modern development of the legal system of Ukraine. The purpose of the article is to analyze the challenges that the country faces in the process of adapting national legislation to European standards in the field of advocacy, as well as to identify opportunities that this process can open up for Ukraine. The research used methods of scientific analysis and synthesis, in particular, systematization and generalization of existing scientific literature, analysis of the legislation of Ukraine and European countries, comparative analysis of legal systems, as well as study of the practice of applying European standards. In the course of the analysis, they were able to determine that the main conclusions of the study of the legal regulation of the activities of attorneys general in the context of European integration and challenges and opportunities for Ukraine take into account that the challenges that Ukraine faces in the context of European integration are the need to bring national legislation into line with European standards for activities of general advocates. This involves the revision and improvement of legal norms, the creation of transparent and clear rules regarding the professional conduct of lawyers, the establishment of effective mechanisms for licensing and control over their activities. On the other hand, European integration opens opportunities for Ukraine to improve the standards of providing legal services and improve the quality of legal aid. This can lead to an increase in the quality of the legal system, improved access to justice, increased confidence in the legal system, support for reforms in the judicial system, and attraction of investment and business support. Considering this, the solution of these tasks requires a systematic approach and active cooperation of all interested parties, both at the domestic and international levels.

Global Innovative Vision of WinWin Ukraine in the Education Sphere: Features of the Approval and Perspectives of Implementation

The article updates the issues of educational innovations, as well as the need for a global innovative vision in education to achieve the successful development of Ukraine. Considering the constant changes in the modern world and the need to adapt to them, Ukraine has prepared its global innovative vision in the field of education. The current state of innovations in education has been analyzed, weak points and problems that need to be solved have been identified; key areas of innovation are defined; and the use of modern innovative technologies in education is outlined. Considerable attention in the article is given to the Global Innovation Vision - a large-scale analytical document (almost 100 pages with details for each sector). Note that this document is an important factor in the transformation of Ukraine during the war and for post-war recovery. The key provisions of the Global Innovation Vision, the principles of state policy in the field of innovative activity are analyzed, since the implementation of innovations in higher, secondary, and primary education requires the development of specific strategies and the attraction of public and private investments in the education sector. Focused attention on supporting scientific research and innovation in the field of education and attracting international experience and partnership; to ensure the implementation of the Global Innovation Vision, the development of regulatory and legal acts on innovation activities has begun. Practical steps for the implementation of innovative activities are outlined. Three new initiatives launched by the European Commission aimed at strengthening scientific and innovative cooperation between the EU and Ukraine are considered.

Analysis of the Relationship between Privatization, Foreign Direct Investment, and Economic Growth in Azerbaijan

The solution of the main problems of the innovative development of the national economy directly depends on the attractiveness of foreign investments. In this study, the relationship between privatization, foreign direct investment, and economic growth is examined. In the analysis part, fully modified Least squares (fmols) and canonical cointegrating regress (CCR) tests, which show the cointegration rate, causal relationship, and correlation, were applied for statistical data reflecting the annual time series between 1996-2021. According to the results of the study, according to the FMOLS test results, it was concluded that a 1 percent increase in GDP led to 1.924,866 percent in privatization, and a 1 percent change in privatization led to a 0.906129 percent change in GDP. It also found that a 1 percent increase in privatization led to a 0.080900 percent (0.1811919 percent per CCR) increase in foreign direct investment. According to the CCR test, a 1 percent change in foreign direct investment also led to a 0.893101 percent change in privatization.

IMPACT OF THE WAR ON UKRAINE'S INVESTMENT CLIMATE: RISK ASSESSMENT AND PROSPECTS FOR FOREIGN INVESTORS

The article is devoted to a comprehensive analysis of the impact of the Russian-Ukrainian war on the investment climate in Ukraine. Based on current statistical data and expert assessments, the main risks for foreign investors caused by military actions on the country's territory are identified. Among them are: large-scale destruction of critical infrastructure, disruption of established logistics chains, a rapid decline in the purchasing power of the population, as well as a high level of uncertainty regarding the further course and duration of the armed conflict. At the same time, the author considers the potential prospects for restoring the investment attractiveness of Ukraine in the conditions of post-war reconstruction. Special emphasis is placed on forecasting the likely dynamics and sectoral structure of foreign investment in the Ukrainian economy starting from 2025, based on the assumption of the completion of the active phase of hostilities. Based on the identified competitive advantages of Ukraine, a set of measures is proposed to improve the national investment environment in the medium and long term. They include ensuring macroeconomic stability, carrying out structural reforms of the regulatory and judicial systems, strengthening the institutional protection of investors' rights, as well as attracting large-scale financial and technical assistance from international partners. At the same time, the author emphasizes the critical importance of forming a holistic strategic vision for the development of Ukraine as a competitive and investment-attractive state in the long-term horizon, which requires the implementation of a targeted policy to stimulate innovation, build modern infrastructure and integrate into global value chains. The article also analyzes the experience of other countries that have suffered significant economic losses due to military conflicts, and highlights the most effective strategies for restoring investment attractiveness in post-war reconstruction. In particular, successful examples of attracting foreign investment in the countries of the Balkan region and Southeast Asia, which managed to quickly overcome the consequences of armed confrontations and ensure sustainable economic growth, are considered. Based on this experience, the author proposes to adapt best practices to Ukrainian realities, taking into account the specifics of the national institutional environment and geopolitical context. Special attention is paid to the role of international financial institutions, in particular the International Monetary Fund, the World Bank, and the European Bank for Reconstruction and Development, in supporting investment processes in Ukraine in the context of post-war recovery. The importance of aligning their financial and technical assistance programs with national development priorities and ensuring effective coordination of efforts of all stakeholders is emphasized. In summary, the author concludes that restoring the investment attractiveness of Ukraine in the conditions of post-war reconstruction will require a comprehensive approach that combines urgent measures to overcome the devastating consequences of the war with strategic initiatives aimed at ensuring the long-term competitiveness of the national economy. Only under such conditions will Ukraine be able to fully realize its investment potential and become an attractive destination for international capital in the post-war world.