Open AccessFinancial resources as the factor intensity of the investment process in the region
Author(s) -
E. V. Gorshenina
Publication year - 2018
Publication title -
naučnyj vestnik ûžnogo instituta menedžmenta
Language(s) - English
Resource type - Journals
eISSN - 2618-8112
pISSN - 2305-3100
DOI - 10.31775/2305-3100-2018-4-5-11
Subject(s) - investment (military) , finance , supply and demand , return on investment , investment strategy , business , open ended investment company , process (computing) , economics , production (economics) , microeconomics , computer science , market liquidity , politics , political science , law , operating system
The article is devoted to methodological and practical issues of assessing the financial resources of the region as a factor of intensity of the investment process. The author evaluates the intensity of the investment process depending on two factors: first, the availability of demand and supply for financial resources: second, the nature of demand and supply for financial resources. The method of evaluation of financial resources on the first factor is based on the author’s approach to the allocation of factors of intensity of the investment process and includes the classification of financial sources of investment in five groups. Particular attention is paid to the structure of investments in fixed capital of the region by sources of financing, as well as comparisons in the dynamics of such sources as savings, profits of enterprises, foreign investment. The author’s method of assessing the intensity of the investment process for the second factor is based on the assertion that the long-term nature of the demand for financial resources does not correspond to the short-term nature of their supply. The most effective system would be to redistribute and combine the proposed financial resources through the establishment of intermediaries to meet demand through investment funds. The article presents the results of practical calculations by the author’s method, as well as the objective and subjective factors of the formation of a favorable investment climate, taking into account financial resources. Objective factors are very stable in dynamics and therefore are crucial in assessing the investment attractiveness of the region. This is the presence of industries with the most effective specialization; enterprises producing relatively cheap and high-quality products; well-developed transport infrastructure. Subjective factors have been formed in the region over the years of reforms: financial stability of enterprises, efficiency of the tax system, efficiency of the financial and credit system, inflation rate, regional priorities. The results of the study presented in the article can be used in the preparation of projects to support the financial security of the investment process at the regional and national level.