Strategic change in investment policy rationale of enterprises modernization as a key condition for getting over economic crisis
-
DOIhttp://dx.doi.org/10.21511/imfi.15(3).2018.18
-
Article InfoVolume 15 2018, Issue #3, pp. 212-222
- Cited by
- 1415 Views
-
157 Downloads
This work is licensed under a
Creative Commons Attribution-NonCommercial 4.0 International License
Investigation of not only the causes and the factors that cause the development of world crises, but also the perspective and actual tools for reducing the impact of their effects, is topical at the present stage. The purpose of this study is to investigate scientific approaches to justifying the investment policy of enterprise modernization as a key condition for overcoming the economic crisis. The object of the study is the investment policy of modernization of enterprises as a key condition for overcoming the economic crisis. The study specifies the essence and economic content of investment and investment policy of the enterprise modernization, identifies main problems of reproduction of the fixed capital at Russian enterprises in modern conditions, systematizes the main approaches to the justification of the investment policy of enterprise modernization, and suggests the use of the investment policy of enterprise modernization as the main condition for the crisis recovery.
- Keywords
-
JEL Classification (Paper profile tab)G01, O11
-
References25
-
Tables1
-
Figures1
-
- Figure 1. Regulation of the investment activity of the enterprise
-
- Table 1. The matrix of balanced indicators of the effectiveness of investment activities for the modernization of enterprises
-
- Aghion, P., Saint-Paul, G. (1998). Virtues of bad times: interaction between productivity growth and economic fluctuations. Macroecon. Dyn, 322-344.
- Belkin, V. G. (2007). Конкурентная среда и конкурентоспособность экономических объектов [Konkurentnaya sreda i konkurentosposobnost ekonomicheskikh obektov]. Vladivostok, Russia.
- Bezrukov, B. A. (2008). Стратегия инвестиционной привлекательности современного предприятия [Strategiya investitsionnoy privlekatelnosti sovremennogo predpriyatiya]. Transportnoe delo Rossii, 4, 14-18.
- Bloom, N. (2008). Uncertainty and the dynamics of R&D. Am. Econ. Rev., 97(2), 250-255.
- Bloom, N., Bond, S., & Van Reenen, J. (2007). Uncertainty and investment dynamics. Rev. Econ. Stud., 74, 391-415.
- Cai, H. W. (2004). Study on the management policy of private enterprises’ foreign direct investment. In Proceedings of Management sciences and global strategies in the 21st century (Vols. 1 and 2) (pp. 745-751).
- Cai, H. W. (2016). China’s management policy of private enterprises’ foreign direct investment. In Proceedings of International conference on management science and engineering (ICMSE 2016) (pp. 190-194).
- Freeman, C., Clark, J., Soete, L. (1982). Unemployment and Technical Innovation: A Study of Long Waves and Economic Development. London: Pinter.
- Heshmati, A., Kim, H. (2011). The R&D and productivity relationship of Korean listed firms. Journal of productivity analysis, 36(2), 125-142.
- Hud, M., Hussinger, K. (2015) The impact of R&D subsidies during the crisis. Research Policy, 44, 1844-1855.
- Karamyshev, A. N. (2017). The analysis of algorithms of adoption of basic administrative decisions at Industrial Enterprises. Revista publicando, 4(13), 472-487.
- Ketova, N. P. (2003). Обновление основного капитала: анализ и оценка возможностей [Obnovlenie osnovnogo kapitala: analiz i otsenka vozmozhnostey]. Ekonomicheskiy vestnik Rostovskogo gosudarstvennogo universiteta, 1(1), 77-85.
- KotowiczJawor, J., & Zukrowska, K. (1997). Enterprise investment as a measure of adjustment to macrostabilisation policy. Europe-Asia studies, 49(2), 245- 258.
- Laketa, M., Anicic, J., & Laketa, L. (2016). Development policy and evaluation of investment projects of small and medium enterprises in Serbia. Casopis za ekonomiju I trzisne komunikacije, 6(1), 130-142.
- Latkin, A. P. (2004). Методика расчета потребности инвестиций и рентабельности их использования на предприятии [Metodika rascheta potrebnosti investitsiy i rentabelnosti ikh ispolzovaniya na predpriyatii]. Vladivostok, Russia.
- Mason, C. M., & Harrison, R. T. (2015). Business angel investment activity in the financial crisis: UK evidence and policy implications. Environment and planning C-Government and policy, 33(1), 43-60.
- Polinkevych, O. (2016). Factors of enterprises’ outstripping development in conditions of global economic crisis. Economic Annals-XXI, 156(1-2), 59-62.
- Rastvortseva, S. N., & Ternovskii, D. S. (2016). Drivers of concentration of economic activity in Russia’s regions. Economic and social changes-facts trends forecast, 44(2), 153-170.
- Schumpeter, J. (1939). Business Cycles: A Theoretical, Historical, and Statistical Analysis of the Capitalist Process (2nd vol.). New York: McGraw-Hill.
- Stiglitz, J. (1993). Endogenous Growth and Cycles (NBER Working Papers 4286). Cambridge.
- Tang, S. M. (2012). Hangzhou Entrepreneurs in Non-Public Ownership Economy: A Study of Their Sources of Stress, Sense of Well-being and Mental Health. In Proceedings of The first international symposium on public human resource management (pp. 172-178).
- Todoryak, O. G. (2010). Peculiarities of investment policy development at an enterprise under conditions of financial & economic crisis. Actual problems of economics, 112, 73-77.
- Torobkov, N. A. (2008). Экономические проблемы модернизации коммунального хозяйства [Ekonomicheskie problemy modernizatsii kommunalnogo hozyaystva]. Transportnoe delo Rossii, 6, 26-31.
- Wang, Z. Y., Tian, J. X., & Liu, S. (2009). Research on Problems and Countermeasures of China’s Infrastructure Investment under the Conditions of Economic Crisis. In Proceedings of 2009 International conference on construction & real estate management (Vols. 1 and 2) (p. 929).
- Zhu, K. L., Liu, X. F., Zhang, L. N., & Li, J. J. (2012). Study on the Approaches of Policy Introduced Fund of Venture Investment Based on the Enterprise Life Cycle Theory. In Contemporary innovation and development in management science (pp. 109-116).