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Enterprise investment attractiveness estimation methodology based on the balance of interests of the investment process subjects

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Category: Economy and management

Last Updated on 29 July 2014

Published on 17 October 2013

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Authors:

M.M. Markhaichuk, Donbass State Technical University, Postgraduate Student of the Economics and Management Department, Alchevsk, Lugansk region, Ukraine.

Abstract:

Purpose. To develop the enterprise investment attractiveness estimation methodology which is based on degree evaluation of the main investment process subjects‟ interests balance in order to formalize the decision procedure on expediency of investments imple-mentation.

Methodology. The enterprise investment attractiveness estimation methodology based on the investment process subjects‟ interests balance with the application of mathematical apparatus of the matrixes‟ theory has been developed. The methodology is grounded on the comparison of the enterprise investment development key indicators dynamics with the reference dynamics and subsequent ranking of investigated company among relevant classes of interests balance using fuzzy scale.

Findings. Development expediency of enterprise investment attractiveness estimation process methodi-cal supply in the direction of stakeholders‟ interests accounting has been proved and the problem of their balance degree assessment has been solved. The de-veloped methodology is fully formalized and allows evaluating the degree of the investment process subjects‟ interests balance in order to assess the investment attractiveness of a business entity using the financial statements of the company and other information in open access.

Originality. The methodical tools for making management decisions on investment expediency are improved by supplementing with methodology of enterprise investment attractiveness estimation, which unlike existing, is based on the degree assessment of the investment process subjects‟ interests balance that allows us to increase the validity of investment decisions and to estimate possibility of sustainable investment development of an enterprise.

Practical Value. Approbation of the developed methodology on the data reflecting results of the Ukrainian enterprises investment activity. The fact that calculated results are adequate to reality testifies the possibility of its application to estimation of stakeholders interests balance for the purpose of assessment of enterprise investment attractiveness. 

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