scholarly journals Safety in construction in the field of investment in urban infrastructure

2019 ◽  
Vol 97 ◽  
pp. 06034 ◽  
Author(s):  
Elena Lyapuntsova ◽  
Iulia Belozerova ◽  
Ilona Drozdova ◽  
Oleg Korol
Keyword(s):  
Urban Landscape ◽  
Investment Project ◽  
Urban Infrastructure ◽  
Integrated Approach ◽  
Positive Influence ◽  
Risk Tolerance ◽  
State Budget ◽  
Internal Markets ◽  
Investment Projects ◽  
The Impact

The purpose of the article is to review the theoretical foundations and practical examples of investor assessment with an integrated approach to the development of urban infrastructure. The article analyzes the conditions for reducing the investment costs of projects. For this purpose, methods of clarifying the conceptual apparatus, classification, systematization and an integrated approach are used. The significance of an investment project depends on its positive influence on at least one of the external or internal markets: material and financial products, services and labor, on the social environment and the environment. Examples are provided of the impact on urban planning and the ecology of the urban landscape of investment projects in the field of tourism in recent years, implemented at the expense of the Federal Target Program “Development of domestic and inbound tourism in the Russia for 2011-2018.” in Sarapul, Barnaul and Cherepovets. The authors conclude that in the examples cited there is a relationship between the risk tolerance of the project and the complexity of the approach to its implementation, and as a result, the amount of investment. Large projects are designed not only to solve specific problems of the investor, regions, economy, state and society, but also ensure the profitability of the state budget at various levels, create new jobs, ensure GDP growth in the country and investment in various sectors, create conditions for the development of the country’s regions. The narrowly focused investment projects are fraught with great risks for the investor due to the selectivity and limited scope of the manifestation of effects.

The development of the pension system of Russia: Challenges and opportunities

2021 ◽  
Vol 27 (11) ◽  
pp. 2548-2574
Author(s):  
Andrei I. MASTEROV
Keyword(s):  
Russian Federation ◽  
Pension System ◽  
Investment Project ◽  
Investment Climate ◽  
Demographic Trends ◽  
Investment Projects ◽  
Challenges And Opportunities ◽  
The Russian Federation ◽  
Low Efficiency ◽  
The Impact

Subject. This article analyzes the economic and demographic conditions for the Russian pension system’s development and the impact of the effectiveness of investment projects implementation on pension savings. Objectives. The article aims to analyze the Russian pension system’s development difficulties in terms of an unfavorable investment climate and negative demographic trends, and identify ways to propel the pension savings investing profitability increase. Methods. For the study, I used induction and deduction, and the methods of systems and statistical analyses. Results. The article offers recommendations for the development of a system of measures aimed at improving the methodological support for the preparation and implementation of management decisions on investment project management. Conclusions and Relevance. Solving the problems of the pension system through the development of voluntary pension savings is constrained by the low efficiency of the investment projects implementation. The results of the study can be used when developing legislative, organizational and methodological measures aimed at improving the efficiency of investing pension savings in investment projects implemented in the Russian Federation.

scholarly journals Simulation Modeling in Assessing the Effectiveness and Risk of Investment Projects

2020 ◽  
Vol 22 (1) ◽  
pp. 119-124
Author(s):  
Volodymyr Kharchenko ◽  
◽  
Hanna Kharchenko ◽  
Keyword(s):  
Monte Carlo ◽  
Monte Carlo Method ◽  
Agricultural Production ◽  
Random Number ◽  
Investment Project ◽  
Average Risk ◽  
Universal Method ◽  
Investment Projects ◽  
The Monte Carlo Method ◽  
The Impact

Introduction. The article deals with the modeling features in the implementation of investment projects using the Monte Carlo method. The purpose of the article is to substantiate the feasibility of using economic and mathematical models to identify the risks of investment projects in agricultural production, taking into account the randomness of factors. Results. The expediency of using this method during the analysis of projects in agriculture is determined. This type of modeling is a universal method of research and evaluation of the effectiveness of open systems, the behavior of which depends on the influence of random factors. Particular attention is paid in such cases to decisions on the implementation of investment projects. The expediency of using this method in the analysis of projects in agriculture is determined. The main characteristics of the investment project are considered: investments involve significant financial costs; investment return can be obtained in a few years; there are elements of risk and uncertainty in forecasting the results of the investment project. The algorithm of the analysis of investment projects consisting of various stages is offered. The importance of investigating the risks of investment projects in agricultural production is substantiated. It is investigated that the basis of the Monte Carlo method is a random number generator, which consists of two stages: generation of a normalized random number (uniformly distributed from 0 to 1) and conversion of a random number into an arbitrary distribution law. The task of choosing an investment project for a pig farm is proposed. The calculations revealed that the amount of the expected NPV is UAH 63,158.80 with a standard deviation of UAH 43,777.90. The coefficient of variation was 0.69, so the risk of this project is generally lower than the average risk of the investment portfolio of the farm. Conclusions. The results of the analysis obtained using the method of Monte Carlo simulation are quite simple to interpret and reflect the change of factors over a significant interval, taking into account the probabilistic nature of economic factors. Thus, this method allows the implementation of the investment project to assess the impact of uncertainty on the final result of the project.

scholarly journals DETERMINATION OF OPTIMAL FUNDING SOURCES FROM A SET OF ALTERNATIVES

2021 ◽  
pp. 55-63
Author(s):  
N. Koshevsky
Keyword(s):  
Capital Structure ◽  
Economic Efficiency ◽  
Investment Project ◽  
Point Of View ◽  
Practical Case ◽  
Baseline Scenario ◽  
Investment Projects ◽  
Funding Sources ◽  
Return On Capital ◽  
The Impact

The introduction provides a brief review of the literature on methods for assessing the effectiveness of investment projects, based on which the choice of optimal sources of financing is made. In the main part of the work, various scenarios for the implementation of an investment project are disclosed: sources of financing that are alternative to the baseline scenario are attracted. In the final part of the work, the considered scenarios are assessed and conclusions are drawn.For each enterprise, improving the financial and economic efficiency of its activities is one of the priority tasks. These tasks include the need to increase the return on capital, the choice of funding sources that have a positive effect on economic efficiency. This paper examines the ways of choosing the optimal, from the point of view of the impact on economic efficiency, instruments for financing an investment project. A practical case of project financing with an assessment of the effectiveness of the implementation of an investment project is considered. To analyze the alternatives, a financial business model was developed, which allows you to quickly make changes, update performance indicators and make decisions about the required capital structure. It is concluded that the optimal capital structure with the highest NPV indicator and that when assessing the efficiency parameters, it is necessary to make an adjustment for the possible presence in the company's capital structure of funding sources that distort the comparability of the project in relation to projects without such sources (for example, budget grants).

scholarly journals ASSESSMENT OF THE INVESTMENT PROJECT EFFECTIVENESS FOR THE ACQUISITION OF COMPANIES BY THE DIRECT INVESTMENT FUND

2020 ◽  
pp. 164-171
Author(s):  
G. G. Utenov
Keyword(s):  
High Performance ◽  
Private Equity ◽  
Investment Project ◽  
Operational Efficiency ◽  
Investment Fund ◽  
Investment Projects ◽  
Private Equity Fund ◽  
Equity Funds ◽  
Private Equity Funds ◽  
The Impact

The performance of investment projects in acquisitions of companies by private equity funds has been explored by assessing the financial and valuation results of such transactions in two directions: change in the valuation multiple of an acquired company over the period of the investment project and the impact of a fund on a company’s operational efficiency. As a result of the analysis, the hypothesis of the higher EV/EBITDA exit multiple of the private equity fund compared to the same entry multiple was not confirmed. However, the hypothesis that private equity funds are able to increase the operational efficiency of portfolio companies on average better than other types of investors, confirms the effectiveness of private equity funds and high performance of such investment projects.

scholarly journals Financial Diagnostics of Banks in the Process of Consolidation: The Goals, Methods, Analytical Approaches

2020 ◽  
Vol 12 (515) ◽  
pp. 361-368
Author(s):  
L. O. Prymostka ◽  
◽  
I. V. Krasnova ◽  
O. K. Lytvynenko ◽  
◽  
...  
Keyword(s):  
Weighted Average ◽  
Investment Project ◽  
Cash Flows ◽  
Economic Feasibility ◽  
Due Diligence ◽  
Investment Projects ◽  
Fundamental Value ◽  
Methods Analytical ◽  
The Impact ◽  
Analytical Approaches

The article is aimed at substantiating the economic feasibility and choosing from the methods of financial diagnostics of banks during consolidation in order to evaluate an agreement object as an investment project. The main directions of financial diagnostics of the M&A agreements for banks are defined. Emphasis is placed on the need to differentiate between the interpretation of the concepts of «financial diagnostics», «due diligence» and Financial Due Diligence (FDD). Taking into account the world and domestic experience, due diligence understanding is systematized and generalized through consideration of the related processes of the M&A agreement at the transaction level. The factors of the M&A agreement, which outline the areas of due diligence, are determined, the understanding of which ensures to have reduced the transactional risk of the transaction. It is specified that the main analytical instrumentarium for adequate substantiation and formation of an absolutely complete idea of the value of the agreed object is the FDD, which also serves as a quality basis for elaborating a strategy for the development of consolidated bank after the completion of the M&A agreement. The traditional FDD analytical instrumentarium, which covers both financial and institutional aspects, is proposed to be supplemented by including banks in the range of financial risks and sensitivity assessments. It is noted that to determine the internal value of the bank – the object of an agreement as a project for investment, approaches are used to forecast future activities, which include methods of discounting cash flows (DCF) and assessing the impact of the internal rate of return on the weighted average cost of capital (IRR / = WACC). On the basis of the generated sample of financial reports of 150 world banks, according to Refintiv, modeling of attractiveness of banks as investment projects through approaches (DCF) and (IRR / = WACC) is carried out. Criteria have been formed to choose an approach to assess the internal value of the banking business. On the basis of the allocated criteria, the results of modeling the attractiveness of projects according to the chosen approaches are compared. It is concluded that the most optimal in terms of accuracy of determining the internal (fundamental) value of the bank is the approach through the modeling of cash flows.

scholarly journals PUBLIC FINANCE INDICATORS AND THE VALUE OF INVESTMENT PROJECT DEVELOPMENT: A COMPARATIVE STUDY OF GCC COUNTRIES

2019 ◽  
Vol 20 (6) ◽  
pp. 1143-1167
Author(s):  
Faris Nasif Alshubiri
Keyword(s):  
Public Finance ◽  
Capital Expenditure ◽  
Investment Project ◽  
Current Account Balance ◽  
National Account ◽  
National Accounts ◽  
Project Development ◽  
Investment Projects ◽  
Gcc Countries ◽  
The Impact

This study aims to identify public financial indicators involved in the investment projects of GCC countries. The data was collected from the IMF and the MEED from 2011-2017. The study measured the impact of public finance based on eight variables and two proxies (national and trade accounts) on the investment project development proxy, which is measured by the total value of projects planned or currently underway and the value of the ten largest projects currently underway. The results showed that Saudi Arabia and the UAE rank high in both proxies of investment project development. The simple regression results also illustrated that real GDP, the real non-oil GDP variables of national account proxy, and the value of the exported goods and services variable of the trade accounts proxy have a significant impact on the total value of projects planned or currently underway. Meanwhile, only three factors of national accounts, gross national savings, CPI inflation, and current account balance, have a significant impact on the value of the ten largest projects currently underway. The overall conclusion of the study is that GCC countries have established high-value development projects in different cities that require a proper public policy to efficiently manage capital expenditure within the public sector.

REGIONAL INVESTMENT POLICY. PROBLEMS AND DIRECTIONS OF IMPROVEMENT

2017 ◽  
Author(s):  
Olena Churikanova ◽  
Keyword(s):  
Investment Project ◽  
Integrated Approach ◽  
Regional Level ◽  
Social Significance ◽  
Social Efficiency ◽  
Mathematical Methods ◽  
Investment Projects ◽  
Regional Investment ◽  
Building Models ◽  
Macroeconomic Indicators

The paper reviews the existing approaches to assessing investment projects at the regional level. Studies by both domestic and foreign authors are presented. The necessity of using an integrated approach in assessing regional investments is noted. The paper presents a scheme of indicators by which the assessment of regional investments is carried out. So, such indicators as: social efficiency, commercial efficiency and budget efficiency are highlighted. The purpose of the article is to identify the entire range of existing problems that arise when assessing regional investments with a view to their subsequent elimination. The whole complex of problems is presented in the form of a table where the problem is described, its brief description and directions for improvement. Thus, among the main problems, the following are highlighted: problems associated with the quantitative measurement of evaluating the effectiveness of investment projects; problems associated with assessing the risks of project implementation; problems associated with the choice of methods for calculating the effectiveness of an investment project; problems associated with the accuracy of financial and mathematical calculations; uncertainty issues; problems associated with the choice of indicators when building models for assessing the effectiveness of investments for the region. To solve certain problems, the author recommends such areas of improvement as: development of criteria for assessing the social significance of an investment project; application of modern economic and mathematical methods and models that would allow determining the influence of parametric indicators of regional investment projects on indicators of social efficiency; accounting in the model of the main macroeconomic indicators of the region's activity, both economic and social; in order to achieve accuracy in determining the effectiveness of an investment project in conditions of uncertainty, it is necessary to forecast changes in all factors that determine the implementation of an investment project at the regional level; To eliminate the existing contradictions about the optimal selection of factors when assessing the effectiveness of investments at the regional level, it is necessary to conduct a study to assess the significance of factors by means of economic and mathematical modeling. The work initiates further research towards the development of a new concept for assessing regional investments.

scholarly journals Motorway Route Planning with Regarding the Adverse Effects on Agricultural Production Space

2019 ◽  
Vol 11 (23) ◽  
pp. 6770
Author(s):  
Małgorzata Dudzińska ◽  
Stanisław Bacior ◽  
Barbara Prus
Keyword(s):  
Rural Areas ◽  
Agricultural Production ◽  
Agricultural Land ◽  
Route Planning ◽  
Investment Project ◽  
Design Stage ◽  
Space Module ◽  
Investment Projects ◽  
Production Space ◽  
The Impact

Designing and implementing investment projects are activities that have a direct impact on the natural environment and pose a threat to sustainable development of rural areas. The issue of agricultural production space protection during the implementation of linear projects in Poland is often only mentioned at the design stage as the final element. The aim of the study is to propose a tool to enable an assessment and modelling of a motorway design variant in order to minimise the impact on the agricultural production space. Four indicators introduced in the modelling procedure include the loss of agricultural land, a decrease of land productivity in the vicinity of an investment project, changes in the spatial structure of areas divided by the investment, and difficulties resulting from the accessibility of areas. The superiority of the proposed method over consolidations implemented in the vicinity of a motorway is due to the introduction into projects not only of elements organising the space but also attributes that prevent the reduction of the production capabilities of the land located in the vicinity of the motorway (Module I) and, secondly, the elements decreasing the re-organisation of the space (Module II).

scholarly journals Improving the Efficiency of Investment Project Selection Mechanisms at the Enterprise

2020 ◽  
pp. 228-237
Author(s):  
Serhii Nisfoian ◽  
◽  
Nataliia Sysolina ◽  
Hryhorii Savelenko ◽  
◽  
...  
Keyword(s):  
Theory Of Measurement ◽  
Hierarchical Structures ◽  
Investment Project ◽  
Multicriteria Decision Making ◽  
Project Work ◽  
Investment Projects ◽  
Product Demand ◽  
Hierarchy Analysis ◽  
Selection Mechanisms ◽  
The Impact

It is important for companies to choose the optimal project, considering the impact of the most important criteria on the common goal. The article investigates the mechanism of choosing the optimal of the three proposed investment projects at the production enterprise: production of foam blocks, production of paving slabs, production of concrete mix. To solve the problem of choosing the optimal project, the method of hierarchy analysis proposed by T. Saati was used. The method of analysis of hierarchies is considered to be a general theory of measurement, it is used to derive a scale from pairwise comparisons in multilevel hierarchical structures. Comparisons can be made on the basis of real or approximate values. The method is widely used in tasks related to multicriteria decision making, strategic planning, forecasting, etc. The method of hierarchy analysis allows to quantitatively and qualitatively compare alternative projects. The criteria for comparison were: the total amount of investment required for the project, product demand, expected profitability and payback period of the project. A multicriteria matrix model based on the method of hierarchy analysis is constructed. The relationship between the criteria was established and the consistency of results was assessed at all levels of the model. According to the results of the analysis, the optimal project was determined, which has the greatest value of the component of the vector of global priorities - 0.56529 (for the project involving the production of concrete mixtures). For this project, the criteria of "Demand" and "Profit" have the highest priorities of the vector of alternatives. The application of the method of analysis of hierarchies allows to reduce the amount of before the project work and numerically confirm the choice of the project.

scholarly journals Effectiveness assessment methodology financial processes in the digital economy

2021 ◽  
Vol 244 ◽  
pp. 10003
Author(s):  
Andrey Mandrykin ◽  
Yulia Pakhomova
Keyword(s):  
Methodological Approach ◽  
Investment Project ◽  
Electric Power Industry ◽  
Investment Efficiency ◽  
Efficient Operation ◽  
Investment Projects ◽  
Effectiveness Assessment ◽  
The Impact ◽  
Enterprise Investment ◽  
Positive Effect

In today’s rapidly changing world, the application of the achievements of scientific and technological progress, the development and implementation of investment projects become a competitive advantage and the key to the successful development of regions, clusters, corporations. In some of the most dynamic industries, investing becomes a matter of not just efficient operation, but also determines the presence of companies in the market. Applied research, and even more so fundamental, requires significant investments, the return on which at the first stages of the development and implementation of investment projects is difficult to predict. The end result is also obviously not predictable, which makes investing one of the most risky areas of activity of modern companies. Therefore, today the development and improvement of investment efficiency are the most important tasks. The institutional and economic environment of developing countries may not be the positive effect expected from attracting enterprise investment. These ambiguous results regarding the impact of investment form the motivation and problem of dissertation research. Identifying and improving methodological and economic parameters for increasing investment efficiency in the electricity industry will always be one of the main tasks for owners of enterprises and managers, which determines the relevance of the study. The article developed a methodological approach to assessing the efficiency of investment projects in the electric power industry taking into account the risks taken into account in calculating the discount rate for each phase of the life cycle of the project, which allows you to more accurately calculate the main indicators of the efficiency of the investment project.

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