Journal of Applied Economic Research
ISSN 2712-7435
DIFFERENTIATED APPROACH TO THE MANAGEMENT OF REGIONAL INVESTMENT PROCESS
Kochegarova L.G., Zakirov R.Sh.
Abstract
This article gives an analysis of existing methodologies for assessing investment attractiveness, highlighting their main features and shortcomings. An estimation method for attracting investment into a region is proposed which is based on the provisions of existing methodologies. Valuation of investments is carried out by a combined indicator of investment potential and risk that are calculated on the basis of statistical data. Specific investment potentials and risks are determined through factorial indicators. The significance of particular potentials and risks are determined by statistical methods based on the weights determined in accordance with the rank of indicators on the value of the Pearson correlation coefficient. Statistical methods will reduce subjectivity in assessing performance. The values of integral indices are the basis for differentiation of regions in terms of investment potential and risk. Twelve investment groups are allocated as a result of such differentiation. Statistical dependence is determined for each group of regions. It enables regional authorities to assess the value of the investment when the main factor indicators are changed. Thus, the individual factorial indicators are target characteristics for regulation. It is necessary to carry out development activities aimed at improving the values of the basic target characteristics in order to regulate the value of the investment at the regional and federal levels. The results of the study can also be used by outside investors for choosing projects to finance by assessing the investment potential and risk of regions. The presented approach differs from the existing ones thanks to a high degree of formalization of criteria for classification and makesit possible to draw a conclusion about the regions’ different response to an administrative impact.
Keywords
Key words: investment attractiveness, investment potential, investment risk, foreign investments, regional investments.
About Authors
DOI: http://dx.doi.org/10.15826/vestnik.2015.14.6.050
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