Nedilska Larysa, PhD (Economics), Associate Professor of Finance and Credit Department, Polissіa National University, Zhytomyr, Ukraine

ORCID ID: 0000-0002-0528-9021
e-mail: larisa.nedelskaya@gmail.com

Kurovska Natalia, PhD (Economics), Associate Professor of Finance and Credit Department, Polissіa National University, Zhytomyr, Ukraine

ORCID ID: 0000-0003-3344-6079
e-mail: kurovska@gmail.com

Modification of the Assessment of Investment Attractiveness of the Enterprise

Abstract. Introduction. The need to find sources of funding, to attract new investors and expand the range of economic partners necessitates a constant review of approaches to assessing the investment attractiveness of enterprises in order to increase its reliability, transparency and objectivity.

Purpose. The purpose of the study is to identify the features of the assessment of investment attractiveness and improve its methodology.

Results. The investment attractiveness of the enterprise has been defined as a complex and multifaceted concept that covers economic, technological, financial, environmental and social components and gives a comprehensive description of the potential object of investment, thus justifying the investor’s decision to invest funds with the prospect to return them and raise more. Methodological approaches to determining the investment attractiveness of economic entities have been compared; and a modified methodology developed by the authors has been proposed. The proposed methodology summarizes the value of a number of important economic, social and environmental indicators. The integrated index of investment attractiveness of domestic agricultural holdings Astarta-Kyiv, APK-Invest and MHP has been determined according to the following indicators: increase of capital and capital investment; the share of bank loans in the capital of an enterprise; the level of taxation and protection of investors’ interests; the ratio of receivables and payables; the ratio of the average monthly salary at an enterprise with the corresponding indicator at the regional level; increase in greenhouse gas emissions. It has been substantiated that application of a complex approach in the process of assessment of investment attractiveness of an enterprise (taking into account economic, social and environmental parameters) makes it possible to make informed investment decisions and to promote active development of a modern enterprise.

Conclusions. This study suggests that the investment attractiveness of an enterprise is generated by a number of absolute and relative indicators, which are formed under the influence of all activities of the enterprise, as well as depend on its social, environmental and innovation policies.

Keywords: investment attractiveness; integrated index; capital investmen; capital; investor; indicators.

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