Formation of the enterprise investment strategy
https://doi.org/10.20914/2310-1202-2021-2-237-242
Abstract
Currently, modern methods used to evaluate the effectiveness of investment projects are most focused on quantitative assessment, do not take into account the peculiarities of project implementation at different stages, and also lack the ability to take into account investment risks in conditions of sectoral characteristics. Risks are associated with postponing the implementation of the investment project over time, so taking into account uncertainties should be an integral part of the assessment of the effectiveness of projects. When creating and implementing an investment project, it is necessary to take into account innovative, commercial, technical and technological, financial risks. Therefore, it is proposed to improve the methodology for assessing efficiency based on the risks taken into account in calculating the discount rate for each phase of the life cycle of the project. In the article, the authors substantiated the need to apply systematic analysis, modern methods, a methodological approach to assessing the effectiveness of investment projects in the electric power industry, taking into account the risks taken into account when 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. The main indicators of evaluation of investment projects efficiency and factors influencing decision-making on investment projects, such as inflation, discounting ratios of the corresponding investment sphere, are considered. 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.
About the Authors
Y. V. Pakhomova
Voronezh State Technical University
Russian Federation
Russian Federation
Cand. Sci. (Econ..), associate professor, economic security department, Moskovsky av., 14, Voronezh, 394036, Russia
N. N. Kudryavtseva
Military and air academy of a name of professor N.E. Zhukovsky and Yu.A. Gagarin
Cand. Sci. (Econ.), associate professor, air force logistics management department, Old Bolsheviks str., 54a, Voronezh, 394064, Russia
Y. N. Duvanova
Voronezh State University of Engineering Technologies
Cand. Sci. (Econ.), associate professor, economic security and the financial monitoring department, Revolution Av., 19 Voronezh, 394036, Russia
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For citations:
Pakhomova Y.V., Kudryavtseva N.N., Duvanova Y.N. Formation of the enterprise investment strategy. Proceedings of the Voronezh State University of Engineering Technologies. 2021;83(2):237-242. (In Russ.) https://doi.org/10.20914/2310-1202-2021-2-237-242
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