scholarly journals Formation of Investment Behavior Strategy using the Game-theoretic Method

TEM Journal ◽  
2021 ◽  
pp. 673-681
Author(s):  
Andrey Zaytsev ◽  
Nikolay Dmitriev ◽  
Rinat Fayzullin ◽  
Ekaterina Mihel

This work is aimed at developing the behavior strategy of an economic entity involved in investment activities using the game-theoretic method. To build a qualitative model, the authors considered the economic aspects of game theory and developed an algorithm for adopting the game-theoretic criteria to investment planning. The authors analyzed the investment portfolios available for business entities on the Russian market to test the model. The outcome of the article is the formation of the authors’ approach to rationalizing the behavior of an economic entity in the course of investment activities. A practical example is given in which the suggested method is used when various investment portfolios are available. The approach was tested to prove that it can be practically applied and further used in the construction of investment strategies.

Author(s):  
Vera Shumilina ◽  
Veronika Talanina

This article examines certain areas that ensure the economic security of business entities, the most relevant in modern economic conditions. It also reveals the main directions of state policy to create conditions for business entities in order to safely conduct their business.


2018 ◽  
Vol 3 (2) ◽  
pp. 119-162 ◽  
Author(s):  
Tihana Škrinjarić

Herding investment behavior on stock markets has consequences for practitioners, theorists, and policy makers. Thus, empirical research on this topic in the last couple of years has grown exponentially. However, there exist only a few papers dealing with herding behavior that consider the Croatian stock market. This study employs the quantile regression approach of estimating several herding investor behavior models of this market for the first time in the literature. Based upon daily data for the 37 most liquid stocks in the Zagreb Stock Exchange (ZSE) for the period September 22, 2014 to May 8, 2018, several model specifications are determined using quantile regression. Because the quantile regression approach deals with specific characteristics of financial data (stylized facts) better than the OLS method, more robust results can be achieved for evaluating if herding behavior is present in the Croatian market. The results indicate very weak to almost nonexistent evidence of herding behavior in the ZSE. Moreover, market volatility does not have any effect on herding behavior. Finally, the economic and political crisis (regarding concern Agrokor) in 2017 was controlled for in the model and the crisis was found insignificant. It seems that herding behavior does not need to be taken into account when tailoring investment strategies on the ZSE.


Author(s):  
Марина Чараева ◽  
Marina Charaeva

Covers the basics of real investment in the Russian Federation as the basis of economic development of the country. Examines the major categories of investments, investment policy, investment climate in Russia, the basic approaches and techniques. Highlights the features of investment activity of commercial enterprises, the formation of investment strategies, strategic human resource management in the investment process. In the conditions of innovative development of the Russian economy the special relevance of investment planning and business planning at the enterprises. Reveal the financial potential of investment activity and portfolio investment projects. The wide range of topics related to the evaluation of the effectiveness and riskiness of investment projects. Meets the current requirements of the Federal state educational standard of higher education. For undergraduate and graduate students in the areas of economic and managerial profile of the students, teachers and listeners of system of additional professional education.


2020 ◽  
pp. 27-32
Author(s):  
Tetiana MORHUNOVA

Introduction. Issues of legal liability for abuse of monopoly (dominant) position in the market are quite relevant in connection with the dynamic development of legislation, as well as given the active law enforcement practice of the Antimonopoly Committee of Ukraine. In the current conditions, the necessary guarantee of stable development and functioning of domestic commodity markets and economic entities operating in them is the effective counteraction to the negative manifestations of monopoly. Among modern types of violations of the legislation on protection of economic competition by business entities, abuse of monopoly (dominant) position in the market is quite common. The purpose of the paper is to investigate the features and grounds for legal liability for abuse of monopoly (dominant) position in the market. Results. The criteria and conditions of monopoly position of business entities in a certain market are shown. The types of actions that constitute an abuse of the monopoly (dominant) position in the market and the types of prohibitions of this abuse are indicated. The results are summarized and the main directions of work of the Antimonopoly Committee of Ukraine are outlined. Important aspects of prosecution for violation of the legislation on protection of economic competition and the process of determining the monopoly (dominant) position of the subject in the market are highlighted. The most common types of abuse of monopoly (dominant) position in the market and the relevant types of legal liability are considered. The grounds for legal liability for abuse of monopoly position in the market, the object and subject of this offense are identified. Conclusion. The abuse of monopoly (dominant) position in the market should be considered as actions or omissions of the economic entity that holds a monopoly (dominant) position in the market, which have led or may lead to the prevention, elimination or restriction of competition. For committing an offense in the form of abuse of monopoly (dominant) position, the legislation provides for the application of legal liability of the following types: economic, legal and administrative, which can be applied in the form of fines and compulsory division. The basis for legal liability for abuse of monopoly position in the market is the establishment of factual, legal and procedural grounds. The purpose of legal liability for abuse of monopoly (dominant) position in the market is to prevent such negative manifestations in the economic sphere as unfair competition. Continuous development and improvement of legislation on protection of economic competition in combination with economic and organizational measures contributes to the creation of unified system and effective mechanism for combating the abuse of monopoly (dominant) position in the market, including through prosecution. The key function of the Antimonopoly Committee is not to fill the budget with fines, but to effectively protect economic competition, including through active advocacy for competition in Ukraine.


The development of investment processes in all areas is the most necessary condition for the effective organization of farming in a transitive economy. Investment analysis provides an information base for making important decisions on the inclusion of projects in investment portfolio, analysis of the structure of sources and its financing, the feasibility of investing in various conditions, thereby ensuring an increase in the efficiency of investment activities of business entities. The main goal of the work is to systematize the classifications of investment portfolios, substantiate the choice of models for diversifying the investment portfolio, analyze the methodological and practical approaches of the strategic directions of interregional interaction and integration, economic and statistical assessment of investment activity at the regional level.


2020 ◽  
Vol 65 (227) ◽  
pp. 67-94
Author(s):  
Oleg Salmanov ◽  
Natalia Babina ◽  
Marina Samoshkina ◽  
Irina Drachena ◽  
Irina Salmanova

The aim of this article is to identify patterns of profitability volatility and to establish the degree of dynamic conditional correlation between the stock markets of developed countries and those of Russia. This issue is important for investment strategies and the international diversification of investments. We use the BEKK-GARCH, CCC-GARCH, and DCCGARCH models and show that the correlation between the Russian stock market and the markets of the USA, UK, Germany, and France has decreased significantly in recent years. We find that while the correlation between the Russian market and the mature European markets is bidirectional, the relationship between the US market and the Russian market is unidirectional. An assessment of the transfer of volatility from all of the mature markets to the Russian market establishes its statistical significance and shows that feedback from the Russian market to the UK and German markets is insignificant. Diversification of international portfolios in the Russian market is recommended.


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