ECONOMIC EVALUATION OF INVESTMENTS AS A COMPOSITION OF THE PROCESS OF INNOVATION CLUSTERS

Oleksandr CHERNYSHOV

Анотація


Introduction. The market orientation of the Ukrainian economy led to significant structural changes, which primarily determined the changing balance between the industrial sectors and services within the gross domestic product. Such dynamics of structural processes is accompanied by no less dynamic changes in the investment potential of the country, in the structure of investment sources and investment objects. In the aspect of the foregoing, the availability of scientific and methodological support for the justification of investment becomes particularly relevant from the point of view of achieving the expected efficiency of investment processes.

Purpose. The purpose and objectives of the study are to maximally accurately analyze investment from the point of view of the enterprise. It should be noted that, at the same time, it is necessary to include on equal terms all important conditions, such as the risk associated with the implementation of the project, and the future structure of assets and liabilities, which will in part depend on the investment decision taken at the moment.

Methods. Scientists have differently approached a set of criteria for the cost-effective investments. But still, each of them necessarily allocates such indicators as net present value, internal rate of return, profitability index and the payback period of investments. All these criteria are based on cash flow discounting and they are also the main indicators recognized in world practice, accumulating the benefits from the implementation of the investment project. It is their calculation, first and foremost, points to the economic efficiency of the investment project.

Results. The proposed system will allow you to quickly get a primary assessment of the economic efficiency of investments in projects, lead to greater efficiency in managing the company's investment activities.

Originality. In addition to the economic effect, one can achieve a specific and environmental effect in implementation of an investment project. Therefore, there should be an assessment based on these criteria.

Conclusion. It is also necessary to develop market-based software products, taking into account the setting targets made above and international practice of estimating cash flows and selecting discount rates, depending on research objectives. If there are any conflicting results of the calculations, the decision about the best choice for the optimal implementation of the project, must be taken in personnel management, not forgetting about development strategies and projects.


Ключові слова


Internal Rate of Return (IRR); Net Present Value (NPV); investment project; economic efficiency; cash flows; discount rate

Посилання


Amosha, O.I., Zemlyankin, A.I., Pidorycheva, I.YU. (2012). Intehratsiya nauky, osvity i vyrobnytstva yak stratehichnyy napryam formuvannya innovatsiynoyi ekonomiky. Prometey: rehion. zb. nauk. pratsʹ z ekonomiky Donetsʹk: IEP NAN Ukrayiny, DEHI, 56-67 [in Ukrainian].

Balabanov H.V., Vyshnevsʹkyy, V.V. (2001). Terytorialʹnyy sotsialʹno-ekonomichnyy monitorynh v Ukrayini. K .: Nora-druk, 58 [in Ukrainian].

Byrman, H., Shmydt, S. (2002). Ekonomichnyy analiz investytsiynykh proektiv: per. s anhl. M.: Banky y birzhi, YUNYTY, 485, 125-127 [in Ukrainian].

Bondar, K. (2007) Otsinka ryzykiv realizatsii innovatsiinoho proektu [Electronic resource]. – Access mode : http://www.rusnsuka.com/20_PRNiT_2007/Economics/23668.doc [in Ukrainian].

Vprovadzhennia innovatsii na promyslovykh pidpryiemstvakh: materialy Holovnoho upravlinnia statystyky u Donetskii oblasti [Electronic resource]. – Access mode : http://donetskstat.gov.ua/ [in Ukrainian].

Kyzym, M. O. (2011). Promyslova polityka ta klasteryzatsiya ekonomiky Ukrayiny [Industrial policy and clustering of economy of Ukraine]. Kharkiv: INGEK, 176 [in Ukrainian].

Pidorycheva, I.Yu. (2014). Finansove zabezpechennia ta orhanizatsiino-ekonomichne suprovodzhennia innovatsiinykh protsesiv v ekonomitsi Ukrainy. Ekonomichnyi visnyk Donbasu, 3 (37), 154-170 [in Ukrainian].

Fedorenko, V.H., Tuhai ,A.M., Boiko, A.F. (2008). Kontseptsiia klasternoi polityky v Ukraini. Ekonomika ta derzhava, 11, 5–15 [in Ukrainian].

Tsuerman, V.A. (2008 Problems and possibilities of clusters as a method of activation of innovative development of the economy. Materyaly ХІІІ mezhdunar. nauch.-prakt. konf. po ynnovatsyonnoi deiatelnosty, Kyev– Symferopol–Sevastopol, 290–294 [in Russian].


Повний текст: PDF

Посилання

  • Поки немає зовнішніх посилань.
Архів
2015 4 12   24 33
2016 1 2   3 4
2017 1 2 2 (Ч.2) 3 4 (Ч.1) 4 (Ч.2)
2018 1 2   3 4  
2019 1          

Користувач

Інформація

Зміст журналу

Перегляд

Мова