Analysis of investment attractiveness of the enterprise

Decision-making in connection with the attraction of investments to enterprises of any production or service is made on the basis of an analysis of the investment attractiveness of the enterprise. At the same time, it is worth noting that investment attractiveness as a special economic category is being interpreted differently today. This condition determines the complexity of developing a unified methodological approaches to its diagnosis and the need to clarify a detailed description.

The analysis of scientific and economic literature devoted to the study of this economic category shows that there are two main types of approaches to the interpretation of the investment attractiveness of the enterprise.

Investment attractiveness in accordance with the traditional approach is diagnosed on the basis of financial analysis of the activities of the enterprise.

In particular, a group of authors[1] emphasizes the evaluation of Enterprise Investment Attractiveness by the criteria of financial position. The main emphasis of the bond is on the ratio of their own funds and the share of borrowed funds, the effectiveness of their placement and use.

The second approach is characterized by versatility and multi-criterion. For example, a number of authors[2] give priority not to the accumulation of financial characteristics, but to the characteristics of a particular market environment in which the enterprise operates. They include in the SAR of the main factors that affect investment attractiveness: cash flow, the characteristics of the product being produced, the innovation of the Applied Technologies and the possibility of achieving a synergistic effect. The researchers also highlight the relationship between investment attractiveness and investment risk, which means that the investor is willing to invest in his or her financial and other resources with a certain degree of risk, taking into account the possibility of losing part or all of his or her funds.

It is worth noting that almost all researchers look at the investment attractiveness of the enterprise in harmony with the concept of investment attractiveness of the region, the country as a whole. Because the investment attractiveness of the enterprise is formed under the system of natural, territorial, social, political, economic and other factors that directly affect the decisions of investors on the mobilization of their funds.

Today, many factors that determine the level of investment attractiveness by different authors are interpreted, and these factors, characteristics or criteria are intended to be evaluated by potential investors. In addition, investors compare the level of investment attractiveness with their own goals, taking into account the possible level of profitability and the risk of investment.

Thus, the "investment attractiveness" of the enterprise will be inextricably linked with the goals of potential investors, the optimal theoretical and methodological aspects of determining investment attractiveness, the level of profitability and the risks associated with the introduction of investments. In other words, the investment attractiveness of an enterprise should be understood as the existing situation under the influence of internal and external factors Complex, which is characterized by the potential and risk of the investor to achieve investment goals.

Evaluation and diagnosis of investment attractiveness of the enterprise is an obligatory stage in determining the expected effect of any investment. Exactly such an approach to the organization of investment activities can be considered systemic. Within its framework, the investment potential of the enterprise is determined and determines the economic, social, environmental and other efficiency of the investment process.

In conditions of diversity and uncertainty of the factors that reflect the investment attractiveness of the enterprise A.Blank's point of view deserves special attention, according to which this category is directly related to the stage of the life cycle of the enterprise development. From the point of view of potential investors, economic entities that have achieved growth or maturity threshold are considered investment attractive[3].

Researchers studying some of the factors defining the investment charm only endogenous factors within the framework of the proposed method, but also the majority of them endogenous, and also exogenous factors they take into account. If internal endogen factors are directly influenced by the management of the enterprise, external they cannot control. One of the most important external factors is the factors that determine the investment attractiveness of the network belonging to the region and the enterprise.

To traditional approaches to explaining the essence of the category ”investment attractiveness", many authors include the financial position of the economic entity among the main internal factors. In their evaluation, traditionally, the coefficient method is used, and the financial statements of the enterprise serve as a database for analysis.

Models of diagnosis of investment attractiveness include all possible factors of quantitative calculation and evaluation. Diagnosis of investment attractiveness of the enterprise is based on the application of a certain assessment methodology, at the present time, various approaches, algorithms and technologies are used to conduct such diagnostics in the theory and practice of investment management.

V.Sevryugin and V. Kojukhar's [4] methodical approaches to the determination of investment attractiveness are universal, recognized as a reasonable way to study the peculiarities of the activity of the enterprise, to consider it from the point of view of its economic and market potential conception. At the same time, the potential should not be determined randomly by certain opportunities, means and resources, since it is a certain combination of factors that allows to achieve a synergistic effect on the basis of rational and rational use.

Thus, the diagnosis of investment attractiveness of enterprises should be based on the assessment of various components of the economic and market potential of the economic entity. In turn, the economic potential of the enterprise is represented by production, organizational, financial, innovation and labor potential.

The most important components of the economic potential of the enterprise, first of all, should be attributed to its innovation component. This is an important role in the introduction of new markets and the implementation of innovative discoveries to meet the growing needs of society. In the most general form, innovation capacity characterizes the ability and willingness of the enterprise to achieve leadership in optimization, updating and used equipment and technologies. At the same time, innovation component is not limited to technical and technological aspects, but also covers Personnel Management, Marketing and other areas.

In the diagnosis of investment attractiveness of the automobile transporti enterprise, omillarni integrated assessment, which is associated with the realization of certain production goals, is of particular importance. The production potential of the enterprise allows to determine the characteristics of the network, determine the type of transport services and establish priorities for further development.

The financial effectiveness of many investment projects is dependent on the financial resources and ownership status of the enterprise. These factors, in turn, determine its financial and property potential.

The organizational potential of the enterprise is a combination of management methods and technologies, resulting in the regulation, harmonization and effective use of all components of the economic potential of the enterprise.

From the foregoing, we can conclude that in the conditions of a market economy, funds are of course necessary for the development of the production process of any enterprise. In general, one of the most optimal ways to provide the enterprise with funds for its strategic development is to attract these investments. When attracting investments, it is necessary to show investors first of all how much investment is attractive to them.

Object and reliable information about the enterprise is of great importance in attracting investment. Because information such as the production capacity of an enterprise, the level of labor and financial potential, economic efficiency shows how the enterprise works, the analysis of the competitors of the enterprise and what achievements and shortcomings it has in relation to them, determines whether there is an opportunity to develop this enterprise in the future or not.

For example, such information was needed for the state to assess the effectiveness of the use of the benefits provided by it, to analyze the negative and positive aspects of the policy of regulation of enterprises, to know how to support such enterprises in the future by the state. For investors, however, it is possible to see interest in kandai if it will invest in this enterprise, or will it invest in general?, it is necessary to find answers to the questions " What is the difference?"

Therefore, it is worthwhile to conduct a complex analysis, that is, the diagnosis of investment attractiveness of the enterprise. Such analysis should include such indicators as the level of development of motor vehicles, the level of effective production, financial and economic status, personnel qualifications, management and marketing policy. This, in turn, indicates the need for investment for the enterprise, first of all by determining the general taxation of the enterprise, and for investors indicate in which directions the enterprise should work in the future in terms of development.