scholarly journals Organizational and financial features of business clusters formation

2018 ◽  
Vol 28 (4) ◽  
pp. 74-79
Author(s):  
O. Lisnichuk
Keyword(s):  
Foreign Investment ◽  
Investment Strategy ◽  
State Regulation ◽  
Investment Funds ◽  
Border Regions ◽  
Main Production ◽  
Financial Characteristics ◽  
Main Components ◽  
Effective Development ◽  
Investment Portfolios

The article describes the organizational and financial characteristics of business clusters formation in Ukraine and European countries. The author came to the conclusion that the cluster is a territorially limited system of enterprises, which provides a cycle from production to the sale of products, within which there are: enterprises of the main production, enterprises and organizations, serving the main production, financial organizations, as well as research institutions, which provide innovative development. The author also concluded that in Ukraine the clustered form of organization of the economy has not yet become sufficiently applied and disseminated. There are no perfect investments and innovation mechanisms for the formation and functioning of clusters, financial mechanisms of state regulation of their activities are ineffective. This includes, in particular, financing, direct financial assistance, subventions, subsidies, etc. The main components of the state economic policy - monetary, tax, depreciation and investment (especially in the field of foreign investment in the border regions attracting) - still do not perform functions of regional development stimulators. In general, the formation of clusters in Ukraine is slow because the proper state policy is not implemented. A separate complexity is the need to provide conditions for the effective development of small business. As it was already mentioned in this paper, the cluster association becomes the center of concentration of investment funds, which affects the formation of the investment strategy of the enterprises members of the cluster. Within the investment strategy, enterprises form investment portfolios in the direction of the sources of attraction or in the direction of investment of these funds.

China's International Investment Strategy

2019 ◽  
Keyword(s):  
Development Strategy ◽  
Foreign Investment ◽  
Developed Countries ◽  
Investment Strategy ◽  
International Investment ◽  
Bilateral Investment Treaties ◽  
Open Door Policy ◽  
Outward Fdi ◽  
Investment Law ◽  
Investment Treaties

The phenomenal story of China’s ‘unprecedented disposition to engage the international legal order’ has been primarily told and examined by political scientists and economists. Since China adopted its ‘open door’ policy in 1978, which altered its development strategy from self-sufficiency to active participation in the world market and aimed at attracting foreign investment to fuel its economic development, the underlying policy for mobilizing inward foreign direct investment (IFDI) remains unchanged to date. With the 1997 launch of the ‘Going Global’ policy, an outward focus regarding foreign investment has been added, to circumvent trade barriers and improve the competitiveness of Chinese firms, typically its state-owned enterprises (SOEs). In order to accommodate inward and outward FDI, China’s participation in the international investment regime has underpinned its efforts to join multi-lateral investment-related legal instruments and conclude international investment agreements (IIAs). China began by selectively concluding bilateral investment treaties (BITs) with developed countries (major capital exporting states to China at that time), signing its first BIT with Sweden in 1982. Despite being a latecomer, over time China’s experience and practice with the international investment regime have allowed it to evolve towards liberalizing its IIAs regime and balancing the duties and benefits associated with IIAs. The book spans a broad spectrum of China’s contemporary international investment law and policy: domestic foreign investment law and reforms, tax policy, bilateral investment treaties, free trade agreements, G20 initiatives, the ‘One Belt One Road’ initiative, international dispute resolution, and inter-regime coordination.

scholarly journals Modified Mean-Variance Risk Measures for Long-Term Portfolios

Mathematics ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 111
Author(s):  
Hyungbin Park
Keyword(s):  
Risk Measures ◽  
Risk Measure ◽  
Investment Strategy ◽  
Stochastic Volatility Model ◽  
Heston Model ◽  
Volatility Model ◽  
Variance Risk ◽  
Investment Portfolios ◽  
Mean Variance

This paper proposes modified mean-variance risk measures for long-term investment portfolios. Two types of portfolios are considered: constant proportion portfolios and increasing amount portfolios. They are widely used in finance for investing assets and developing derivative securities. We compare the long-term behavior of a conventional mean-variance risk measure and a modified one of the two types of portfolios, and we discuss the benefits of the modified measure. Subsequently, an optimal long-term investment strategy is derived. We show that the modified risk measure reflects the investor’s risk aversion on the optimal long-term investment strategy; however, the conventional one does not. Several factor models are discussed as concrete examples: the Black–Scholes model, Kim–Omberg model, Heston model, and 3/2 stochastic volatility model.

STRATEGIC PROSPECTS FOR INNOVATION DEVELOPMENT OF AGRICULTURAL SECTOR OF CHERKASY REGION

2017 ◽  
Author(s):  
Viktoriia Zhmudenko ◽  
◽  
Mykola Diachenko ◽  
Keyword(s):  
Development Strategy ◽  
Agricultural Sector ◽  
Raw Materials ◽  
Industrial Sector ◽  
State Regulation ◽  
Innovative Activity ◽  
Innovative Development ◽  
Agricultural Enterprises ◽  
Industrial Enterprises ◽  
Effective Development

The article analyzes the current state of production activities of the agricultural sector of Cherkasy region economy, its organizational and legal structures and identifies strategic directions for its development. It is proved that the priority solution of urgent problems, such as: redistribution of land and property; restructuring of enterprises and forms of management; development of cooperation; introduction of market management methods - management and marketing; state regulation of the agricultural economy, financial, credit and tax systems; development of markets for agricultural products, material and technical resources and services; intensification and diversification of foreign economic activity will contribute to the development of the agro-industrial sphere of Cherkasy region. It is determined that the years 2021-2027 should be considered the strategic period, during which the provision of the country's population with food at the level of scientifically sound standards, growth of export potential and reduction of imports should be achieved. The necessity of introduction of innovative activity and process of innovations introduction in the production activity of the agricultural enterprises which are a basis of economic growth is proved. Obstacles to the innovative development of the regional agricultural sector are analyzed. The priority directions of innovative development of agro-industrial enterprises are indicated. The need to develop an innovative policy of agricultural enterprises in order to increase the efficiency of their operation is determined. It is noted that the priority of the agro-industrial sector development of Cherkasy region and its leading industries will provide the population with food products, industry with raw materials, and foreign trade with the export goods. It is established that innovative activity in agricultural enterprises is a decisive factor in the effective development and increase of agricultural production, significant changes in its structure, reassessment of the motivation system that meet the current principles of the Cherkasy Region Development Strategy for 2021-2027, which determines key vectors of the region in the long-term.

scholarly journals Mechanisms for implementing state policy in the development of animal husbandry in european countries

2020 ◽  
Vol 8 (5) ◽  
pp. 62-71
Author(s):  
Alexander Lavruk
Keyword(s):  
Rural Areas ◽  
State Policy ◽  
Animal Husbandry ◽  
State Regulation ◽  
European Countries ◽  
Efficient Production ◽  
Livestock Industry ◽  
Global Trends ◽  
Livestock Products ◽  
Effective Development

Attention is drawn to the fact that the livestock industry occupies a leading place not only in the economy of many European countries, but also is crucial in ensuring their food security. Foreign experience of revival and development of the livestock industry is considered. It is indicated that an important component of ensuring the stable development of each country, the life of society and the livestock industry is state policy. The role of state policy of European countries and mechanisms for its implementation in this important process are defined. It is established that the state policy measures of various European countries focus on the development of programs for state assistance to the development of farms in order to increase their competitive ability, financial support for their producers and provide various types of resources. At the stage of developing a state policy and for the purpose of its effective implementation, a system of means, tools and methods is determined by which the policy implementation mechanism is formed. Common features in the development of animal husbandry in different European countries are identified and its features are highlighted. Taking into account global trends, priority areas for the development of such sub-sectors of animal husbandry as cattle breeding, pig breeding, and sheep breeding are identified. It is noted that for the further effective development of Agriculture and the maintenance of animal husbandry in the most vulnerable rural areas, an important role is played by state regulation mechanisms aimed at social security of existing producers, especially young farmers in areas where agriculture is their main source of income. It is proposed to continue creating appropriate conditions for the full entry of animal husbandry into efficient production and full provision of the domestic market with high-quality, competitive, environmentally friendly livestock products.

scholarly journals Quality Evaluation of Fritillaria thunbergii by High-Performance Liquid Chromatography Fingerprinting Coupled with Multicomponent Quantitative Analysis

2021 ◽  
Vol 25 (01) ◽  
pp. 131-138
Author(s):  
Ruoxu He
Keyword(s):  
Quantitative Analysis ◽  
High Performance ◽  
Quality Evaluation ◽  
Light Scattering Detection ◽  
Mobile Phases ◽  
Evaporative Light Scattering ◽  
Significant Difference ◽  
The Family ◽  
Main Production ◽  
Main Components

Medicinal Zhebeimu refers to the dried bulb of the plant Fritillaria thunbergii, which belongs to the family Liliaceae. Their main production sites are in Zhejiang, Jiangsu, and Anhui Provinces, with alkaloids as the main components. In this study, according to Chinese Pharmacopoeia, different mobile phases were investigated. Because most alkaloids in Fritillaria do not have UV absorption, evaporative light scattering detection (ELSD) was used instead of UV to produce the HPLC-ELSD spectra for five F. thunbergii samples and other samples, e.g. F. chuanxiensis, F. anhuiensis, and F. ussuriensis. Comparison showed significant differences exist among these species. There was no significant difference between the F. thunbergii samples produced in Zhejiang, which clustered together in both the cluster analyses. However, the F. thunbergii samples produced in Nantong, Jiangsu and the F. thunbergii samples produced in Zhejiang were separated in the clustering chart, which may be caused by different cultivation environments. The obtained results showed that the combination of quantitative analysis and chromatographic fingerprint analysis can be readily utilized for quality control purposes, offering a comprehensive strategy for quality evaluation of F. thunbergii and related products. © 2021 Friends Science Publishers

scholarly journals US INVESTMENTS IN PRIORITY SECTORS OF THE ECONOMY OF KAZAKHSTAN

THE BULLETIN ◽  
2020 ◽  
Vol 5 (387) ◽  
pp. 199-207
Author(s):  
G. Т. Shakulikova ◽  
◽  
Zh. K. Yerzhanova ◽  
Zh. Zh. Gabbassova ◽  
R. A. Karabassov ◽  
...  
Keyword(s):  
Comparative Analysis ◽  
Stock Market ◽  
Foreign Investment ◽  
Mining Industry ◽  
Raw Material ◽  
Key Factors ◽  
Investment Funds ◽  
The Public ◽  
Advantages And Disadvantages ◽  
Returns On Investment

In the conditions of self-isolation, a small and medium business suffered as a result of a pandemic, however, large business remained afloat due to large “long money”. Large business in Kazakhstan is mainly a raw material business, i.e., the mining industry, as a priority, has not suspended its activities. The tasks in the field of attracting investment remained the same. For Kazakhstan, in the direction of attracting foreign investment, firstly, it is worth identifying competitive sectors of the economy. Secondly, clearly understand the key factors in the development of these industries. Thirdly, to conduct a comparative analysis and assess the advantages and disadvantages in relation to other countries, which will be the main competitors in this industry. Fourth, identify potential investors. Fifth, optimize the activities of the coordinating agency or body that is responsible for investments in Kazakhstan. For US investors, the stock market in Kazakhstan is very small. It presents mainly companies in the mining and financial sectors of the economy, as well as the public sector. The limited financing opportunities in the stock market do not allow providing higher returns on investment funds, and this in turn negatively affects the influx of potential investors and investors.

scholarly journals FORMING OF THE MECHANISM OF THE ENTERPRISE’S MARKET CAPITALIZATION FOR ACHIEVEMENT OF ITS MAIN GOALS OF INVESTMENT ACTIVITY

2021 ◽  
Author(s):  
Igor Kryvovyazyuk ◽  
Oleksandr Burban
Keyword(s):  
Financial Analysis ◽  
Investment Strategy ◽  
Point Of View ◽  
Management Mechanism ◽  
Scientific Publications ◽  
Investment Activity ◽  
Business Valuation ◽  
Market Capitalization ◽  
Scientific Discussion ◽  
Main Components

The article summarizes arguments and counterarguments in the framework of scientific discussion on the formation of a mechanism for managing the market capitalization of an enterprise from the point of view of achieving its established investment goals. The main goal of the research is to create a new approach to the formation of the mentioned mechanism, which was implemented through a critical analysis of the modern scientific publications within the topic. A detailed analysis of the internal structure of the enterprise’s market capitalization management mechanism allowed to define its main components list which includes: a main goal of the mechanism (which is related to enterprise’s value maximization), management methods (financial, administrative, legal), principles (purposefulness, planning, competence, disciplines, incentives, hierarchy), tools (business valuation, financial analysis, benchmarking), subjects, objects, management factors (improving of financial, administrative or production system) and result (which is measured by enterprise’s market capitalization dynamics). Also, it was revealed that there’s a connection between internal components of enterprise’s market capitalization management mechanism and external factors, which can be microeconomic (are under direct enterprise’s influence) or macroeconomic (can’t be influenced from an enterprise’s side). Having summarized the main goals of an enterprise’s investment strategy, three main groups of the goals were selected to reveal the existence of a direct relationship between formation of a mechanism for managing the market capitalization of an enterprise and its main goals of investment activity. First one is related to improvement of enterprise’s value (based on changes in capital), second is related to level of enterprise’s profitability, and third is defined with achieving a positive social effect. The study empirically confirms and theoretically proves that the expression of the effectiveness of the market capitalization management mechanism of an enterprise is a direct identification of the achievement of the goals of its investment strategy.

SPORTS AND EVENTS TOURISM: DEFINITION AND POTENTIAL OF DEVELOPMENT IN THE KHARKIV REGION

2018 ◽  
Author(s):  
Mariia Pokolodna ◽  
◽  
Danylo Teslia ◽  
Keyword(s):  
Development Program ◽  
Golf Club ◽  
Sporting Events ◽  
Resource Base ◽  
Event Tourism ◽  
Tourism Enterprises ◽  
Main Components ◽  
Definition Of ◽  
Effective Development ◽  
The City

Diversification of tourist demand leads to the isolation of new types of tourism, which have their own resource base and a fairly solvent and constant contingent of consumers. One of such modern types of tourism is sports and event tourism. Having a sufficiently developed resource base for the development of this type of tourism, both Ukraine in general and Kharkiv region in particular do not yet occupy a prominent place in the structure of tourist flows in this area, although they have some achievements in world and European sporting events. Such circumstances require research of the situation and finding solutions for the development of sports and event tourism in the region. The research of the essence of sports and event tourism conducted in the article allowed to separate it from sports and health and sports professional tourism. The author's definition of this type of tourism is given in the article. The analysis of the resource base of sports and event tourism in Kharkiv showed the presence of many different components, including stadiums, swimming pools, ice arenas, golf club, equestrian schools, sports schools and organizations, developed a modern sports logo of the city. It is determined that sports and event tourism is a promising independent powerful direction of development of both domestic and international tourism for the city. For more effective development of this area, it is proposed to develop a strategy, for which three main components are identified, as well as promising areas for improving the tourism development program and consolidating the efforts of interested stakeholders - administration, sports infrastructure owner, tourism enterprises.

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