scholarly journals METHODOLOGY FOR EVALUATING THE EFFECTIVENESS OF INVESTMENTS IN THE EXPANSION OF UNIVERSITY HOUSING INFRASTRUCTURE

THE BULLETIN ◽  
2021 ◽  
Vol 389 (1) ◽  
pp. 202-207
Author(s):  
Z.N. Chikibayeva ◽  
U.Zh. Shalbolova
Keyword(s):  
Doctoral Students ◽  
Economic Efficiency ◽  
Housing Stock ◽  
Investment Project ◽  
Student Housing ◽  
Infrastructure Investment ◽  
University Housing ◽  
Investment Projects ◽  
Qualitative And Quantitative ◽  
Funding Sources

The article deals with the problem of assessing the socio-economic efficiency of investment in the expansion of University housing infrastructure. Evaluating the effectiveness of investment design solutions is the main approach to determining the return on investment of financial resources in expanding the Fund of student dormitories, in which both investors and all participants in the implementation of investment projects for the construction and modernization of student dormitories are interested. To determine the socio-economic efficiency of the investment project for the construction of housing infrastructure of higher education institutions, a system of indicators was formed. Methods for calculating the socio-economic efficiency of housing infrastructure investment projects based on qualitative and quantitative criteria are considered. A step-by-step implementation of methods for assessing the socio-economic efficiency of projects for the modernization of student housing stock is presented. Since all regions of Kazakhstan set the task of expanding the University's housing infrastructure through the construction of new and reconstruction of existing dormitories with the use of public-private partnerships, there is a need to expand student housing Fund, which is based on the data of the operator of the state program of JSC "Financial center" of the MES RK, which determines the need, funding sources, manage cash flow to ensure the introduction of new places in hostels for students, undergraduates and doctoral students, draws up contracts with investors.

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 Methods of multi-criteria evaluation of economic efficiency of investment projects

2021 ◽  
pp. 93-98
Author(s):  
Oksana Isai ◽  
Olha Romashko ◽  
Andriy Semenov ◽  
Tetiana Sazonova ◽  
Ivanna Podik ◽  
...  
Keyword(s):  
Economic Efficiency ◽  
Investment Project ◽  
Optimal Investment ◽  
Stable Operation ◽  
Investment Activity ◽  
Investment Projects ◽  
Advantages And Disadvantages ◽  
Investment Option ◽  
Fierce Competition ◽  
High Level

In the context of globalization and fierce competition in world markets, the high level of investment activity in the country is a key to economic and innovative development. The high level of wear and tear of fixed assets in developing countries gives special relevance to solving the problem of attracting investments for production development. Hence, for the investment management system choosing an optimal variant among several available investment projects is one of the most responsible stages of ensuring the stable operation and sustainable development of an enterprise. In this regard, the aim of the article is to develop a comprehensive multi-criteria approach to choose the best investment option. The article analyzes the existing methodological approaches to assess the economic efficiency of the investment projects, identifies their advantages and disadvantages. A multi-criteria method of investment project evaluation is proposed, which is characterized by the absence of restrictions on the number of individual evaluation indicators and the possibility for the investor to determine the significance of every indicator using weights independently. The use of the proposed methodology by enterprises will improve the quality of management decisions at the stage of choosing the optimal investment option.

scholarly journals NSR and NSTC projects: environmental and economic efficiency assessment of the goods’ overseas transportation

2021 ◽  
Vol 112 ◽  
pp. 00025
Author(s):  
Sergey Nikonorov ◽  
Alexander Krivichev ◽  
Vladimir Sidorenko
Keyword(s):  
Economic Efficiency ◽  
Investment Project ◽  
Payback Period ◽  
Fuel Oil ◽  
Environmental Damage ◽  
Investment Projects ◽  
Efficiency Assessment ◽  
Digital Format ◽  
State Corporation ◽  
Cargo Transportation

The authors attempt to assess the environmental and economic efficiency of investment projects for the goods transportation by the northern seas of Russia taking into account the relevance of the topic of cargo transportation by means of the “Northern Sea Route” (NSR) and new concept of the digital format of the “Northern Sea Transit Corridor” (NSTC) implemented by the “Rosatom” State Corporation. The structure of import-export and transit traffic by the NSR in 2020 is considered. The goal of the article is to evaluate the efficiency of investment project for the goods transportation forwards and backwards by the NSR from Murmansk city to PetropavlovskKamchatsky city using the example of the “Andrey Osipov” shipping facility. Some indicators were assessed: planned revenue, payback period; NPV, environmental damage. The following results are obtained: the payback period is 10 years; by using the naval fuel oil over a ten-year period, 1101.6 tons of SOx, 143.1 tons of CO2, 288.9 tons of NOx will be emitted. In addition, the authors propose an innovative approach to creation of ships from new materials and technologies based on the modern paradigm of “Accelerated Digital Certification”.

scholarly journals INVESTMENT DESIGN AS A BASIS FOR THE FORMATION OF INVESTMENT ATTRACTIVENESS OF AN INDUSTRIAL ENTERPRISE

2021 ◽  
pp. 36-40
Author(s):  
Ірина Федоренко ◽  
Євгенія Шкарупа ◽  
Катерина Шляпцева
Keyword(s):  
Economic Efficiency ◽  
Investment Decision ◽  
Market Competition ◽  
Investment Project ◽  
Business Plan ◽  
Industrial Enterprise ◽  
Investment Projects ◽  
Industrial Enterprises ◽  
Project Analysis ◽  
Definition Of

The article investigates the financial and economic essence of investment design and proves that having the diversity and abundance of sources of financing of various projects and programs in industrial enterprises there is an urgent need to form their investm ent attractiveness, which should be embodied in the form of an investment project. The main approaches to the definition of the concept of investment project are analyzed and the author's definition of this concept is given. The groups of methods for assessing the economic efficiency of investment projects, which allow to assess its economic efficiency, which increases the investment attractiveness of prospective domestic and foreign investors. Typical errors that may occur in the calculation of performance indicators of the investment project and adversely affect the investment attractiveness of an industrial enterprise are highlighted. It is proved that one of the most important and defining stages of the project cycle of investment design is project analysis, which is a set of methodological measures and techniques used for the preparation and justification of investment decisions. The main types of analysis that should be included in the project analysis of the investment project ar e defined. It is concluded that after all the studies preceding the investment decision, it is necessary to draw up a certa in final document that will allow the investor and the entrepreneur not only to accept, but also to fix, and when to be done to justify the hopes for the effective ness of the investment project. For this purpose, a standard document is drawn up, in which the concept of a real investment project – a business plan-is substantiated in detail. The business plan developed in the article makes it possible to find out the viability of the project in the conditio ns of market competition, contains guidelines for the further development of the enterprise, and is the main condition for the formation of investment attractiveness of an industrial enterprise in the modern investment climate of Ukraine.

scholarly journals ESTIMATING ECONOMIC EFFICIENCY OF ENTERPRISESE FUNCTIONING

2021 ◽  
pp. 7-10
Author(s):  
Юліана Шеянова ◽  
Еліна Шеянова
Keyword(s):  
Economic Efficiency ◽  
Investment Project ◽  
Cost Benefit ◽  
State Regulation ◽  
Investment Projects ◽  
Industrial Enterprises ◽  
Production Activity ◽  
Basic Approaches ◽  
Evaluation Mechanism ◽  
Social Environmental

The article analyzes the essence and importance of the mechanism of estimation of production activity efficiency in a modern industrial enterprise. The main aggregated indicators of complex evaluation of economic efficiency of enterprises are determined. In accordance with the prevailing instruments and means of public administration, the main mechanisms of state regulation of the analyzed industry are identified. The theoretical principles of the concept of "enterprise efficiency" as a property and ability of the enterprise to formulate and achieve their goals, taking into account the influence of external factors and using internal conditions of functioning, to achieve the set tasks, using all available resources and means for solving social, environmental, budgetary and other problems of both society and enterprise at the established cost-benefit ratio. The basic theoretical and methodological approaches to the estimation of economic efficiency of enterprises are considered. The basic approaches to the estimation of efficiency of production activity of the enterprise are analyzed and systematized. It is proposed to use econometric modeling to improve the reliability of the estimation of the efficiency of production activity. The expediency of carrying out such an assessment by determining the dependence of the production activity efficiency on the partial indicators of the evaluation mechanism in modern industrial enterprises based on traditional and multifactorial approaches is substantiated. The basic elements of estimation of efficiency of production activity of the enterprise are selected and the integral index of estimation of efficiency of production activity is defined. The main approaches to establishing the essence of economic attractiveness and economic efficiency of investment projects are investigated in the article. It is established that the purpose of assessing economic attractiveness is to determine the efficiency of use of public resources within the project, economic efficiency - to assess the feasibility of using scarce (limited) resources of society in the framework of a specific project. The views of scientists on the choice and characteristics of indicators of evaluating the economic efficiency of functioning of enterprises for the purpose of conducting a comprehensive analysis are investigated. Methodical approaches to assessing the economic attractiveness and cost-effectiveness of investment projects are explored. The main stages of evaluating the economic attractiveness and efficiency of the investment project have been established.

scholarly journals Preliminary criteria for the energy sector: environmental and economic efficiency of investment projects

2021 ◽  
Vol 343 ◽  
pp. 07014
Author(s):  
Anzhelika Karaeva ◽  
Elena Magaril ◽  
Vincenzo Torretta ◽  
Elena Cristina Rada
Keyword(s):  
Economic Efficiency ◽  
Global Economy ◽  
Selection Process ◽  
Investment Project ◽  
Economic Assessment ◽  
Energy Sector ◽  
Assessment Process ◽  
Energy Investment ◽  
Investment Projects ◽  
Efficiency Assessment

Ecological and economic assessment is a key stage in the selection process of investment projects as it defines their efficiency and allows to forecast their likely impact on the environment and the socio-economic situation of the territory. Approaches to the efficiency assessment of investment projects include only basic criteria and do not sufficiently consider industryspecific. The energy sector is a significant primary sector in the global economy that directly affects the standard of living, energy resources availability for population and for the productive sector of economy and has a considerable impact on the environment. Therefore, the efficiency assessment process of investment project in the energy industry should comprise criteria which will respond to the branch specificity and provide accurate data about potential environmental and socio-economic consequences of project’s implementation in both the short and the long-term run. The paper aims to propose a list of environmental criteria for improving the process of the ecological and economic efficiency assessment of energy investment projects, considering also the Circular Economy concepts. The list is based on the results of the expert survey carried out by the authors and might be used for multiple-criteria decision analysis of the investment projects.

scholarly journals Assessment of the impact of the duration of construction on the effectiveness of the investment project

2019 ◽  
Vol 135 ◽  
pp. 04021 ◽  
Author(s):  
Elena Mikhaylova
Keyword(s):  
Economic Efficiency ◽  
Capital Investment ◽  
Investment Project ◽  
Mathematical Expression ◽  
Analytical Description ◽  
Mathematical Apparatus ◽  
Investment Projects ◽  
Investment Process ◽  
Quantitative Indicators ◽  
The Impact

The article discusses the relevance and necessity of assessing the impact of the duration of construction on the economic efficiency of investments. Using a mathematical expression, the profit received by the investor during the life cycle of the direct investment process is described. The peculiarity of investment projects involving the creation of capital investment (real estate), is the period of time during which profit is impossible. This period of time is equal to the duration of construction, including installation of technological equipment and commissioning. An analytical description of the degree of influence of the duration of construction on the indicators of economic efficiency of the investment project (profitability and profitability of property) is proposed. On the basis of the learned expressions, a numerical experiment was performed and graphs were constructed. The results of the research prove the possibility of analytical description of the degree of influence of the duration of construction on the quantitative indicators describing the investment project (profitability (Bank interest), profitability of the created property). It seems that the described approach allows to carry out forecasts which reliability surpasses the results obtained, for example, by means of expert estimations. The proposed mathematical apparatus is much simpler than the methods of probability theory and fuzzy set theory.

scholarly journals JUSTIFICATION FOR CHOOSING THE DISCOUNT RATE IN INVESTMENT ANALYSIS

2021 ◽  
pp. 21-28
Author(s):  
Светлана Викторовна Кузина ◽  
Павел Константинович Кузин
Keyword(s):  
Discount Rate ◽  
Economic Efficiency ◽  
Methodological Approach ◽  
Investment Project ◽  
Cash Flows ◽  
Present Value ◽  
Investment Projects ◽  
The Future ◽  
Value Of Cash ◽  
Future Value

Статья посвящена вопросам выбора ставки дисконта для приведения будущей стоимости денежных потоков к настоящей стоимости с помощью коэффициента дисконтирования. Целью исследования является анализ и обоснование выбора численного значения ставки дисконта в зависимости от источников финансирования инвестиционного проекта. Авторами приведены практические рекомендации по выбору метода оценки экономической эффективности привлечения инвестиций как для экономически обособленного инвестиционного проекта, так и для инвестиционного проекта, интегрированного в действующее предприятие. Научная новизна полученных результатов заключается в разработке методического подхода к выбору численного значения ставки дисконта для приведения будущей стоимости денежных потоков к настоящей стоимости с помощью коэффициента дисконтирования и к выбору приоритетного метода оценки экономической эффективности для экономически обособленных и интегрированных в действующее предприятие инвестиционных проектов. The article is devoted to the issues of choosing the discount rate for bringing the future value of cash flows to the present value using the discount coefficient. The purpose of the study is to analyze and justify the choice of the numerical value of the discount rate depending on the sources of financing of the investment project. The authors provide practical recommendations on the choice of a method for assessing the economic efficiency of attracting investment both for an economically isolated investment project and for an investment project integrated into an operating enterprise. The scientific novelty of the obtained results consists in the development of a methodological approach to the choice of the numerical value of the discount rate for bringing the future value of cash flows to the present value using the discount coefficient and the choice of a priority method for assessing economic efficiency for both economically isolated and integrated investment projects in an operating enterprise.

scholarly journals Analysis of the Possibility of Using Dynamic Methods for Assessment of Investment Projects in the Domestic Foundry Industry

2014 ◽  
Vol 14 (3) ◽  
pp. 103-106 ◽  
Author(s):  
J. Szymszal ◽  
T. Lis ◽  
B. Gajdzik ◽  
J. Kliś
Keyword(s):  
Economic Efficiency ◽  
Investment Project ◽  
Metallurgical Industry ◽  
Random Parameters ◽  
Investment Projects ◽  
Dynamic Methods ◽  
High Dynamic ◽  
Capital Intensive ◽  
High Uncertainty ◽  
Selection Of

Abstract A comparative analysis involving the evaluation of the effectiveness of investment projects can be based on various rules indicating selection of the most favorable decisions. The dynamic methods for assessment of investment projects discussed in this article, which consider the possibility of modifying the predetermined investment options, are quite complex and difficult to implement. They are used both in the construction phase of the new company, as well as in its subsequent modernization. The assessments should be characterized by a high coefficient of the economic efficiency. The, observed in practice, high dynamic variability of both the external and internal conditions under which the company operates is the reason why in the process of calculating the economic efficiency of investment projects, there is a significant number of random parameters affected by high uncertainty and risk. Investments in the metallurgical industry are characterized by a relatively long cycle of implementation and operation. These are capital-intensive projects and often mistakenly taken investment decisions end in failure of the investment project and, consequently, in the collapse of the company. In addition, the applied methods of risk assessment of investment projects, especially the dynamic ones, should be fully understood by managerial staff and constitute an easy to use, yet accurate tool for improving the efficiency of the company.

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