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Introduction
Investments play a major role in the efficiency of the enterprise, as well as in the entire social reproduction, since they directly influence the possibility of economic growth in the long term. A great deal depends on the right choice of funding sources, not only the viability of investment activities, but also the distribution of the final income from them, which gives financial sustainability to the enterprise making the investment. This is the relevance of this problem.
The purpose of the abstract is to analyse the activities of the enterprise aimed at selecting sources of investment financing.
In order to fulfil the purpose of this work, the following tasks should be solved:
- to study the classification of sources of investment financing;
- to consider the methods of selecting these sources;
- to investigate the sources of investment financing in accordance with the enterprise strategy.
At the present stage in the world there are three crises that have a great impact on the economy: on the financial and credit system, on investment activity, on the labour market, on the mood of the population. In times of crisis, many organisations tend to curtail their investment programmes and reduce current expenditures. By 2014, there was an acute "investment famine" in the world, which is also reflected in the investment activities of enterprises this year. The intensification of the investment process, including at the microeconomic level, is the most important means of ensuring the conditions for recovery from the economic crisis.
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1. The concept and nature of sources of investment financing in an enterprise
Investors make capital investments using their own and/or borrowed funds. Investors can be: individuals, legal entities established on the basis of an agreement on joint activities and not having the status of a legal entity associations of legal entities, state bodies, local authorities, foreign business entities (foreign investors).
The organisation of financing is one of the most important problems in investment activities. The formation of investment resources is the main prerequisite for the investment process. The system of financing of investment activity is an organic unity of sources of funds, organisational and economic mechanisms and tools for their attraction. Sources of financing of investment activities are monetary funds and receipts at the disposal of the enterprise and intended for the purchase of necessary assets, as well as the implementation of current costs and payments arising in the process of implementation of the investment project [6].
That is, the sources of investment financing are those funds that can be used as investment resources. The composition and structure of sources of financing for investments depend on the economic mechanism in force in society. By considering its options when choosing a source of financing for the investment, as well as its advantages and disadvantages, the enterprise reduces the likelihood of risk. Management should consider the main sources of investment funding in more detail, and analyse their pros and cons.
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References
1.Investment analysis and portfolio management. https://s3.amazonaws.com/sitebooks/Long+Term+Investing/Investment+Analysis+and+Portfolio+Management+(2012).pdf
2.Mossavar-Rahmani, Sharmin. 1988. “Customized Benchmarks in Structured Management.” Journal of Portfolio Management 13, no. 4 (Summer): 65–68.
3.Mossavar-Rahmani, Sharmin. 1991. Bond Index Funds. Chicago: Probus.
4.Mossavar-Rahmani, Sharmin. 2005. “Indexing Fixed-Income Assets.” In The Handbook of Fixed-Income Securities, 7th ed., ed. Frank J. Fabozzi. New York: McGraw-Hill.
5.Mossin, J. 1966. “Equilibrium in a Capital Asset Market.” Econometrica 34, no. 4 (October): 768–783.
6.O’Hara, Maureen, and Mao Ye. 2011. “Is Market Fragmentation Harming Market Quality?” Journal of Financial Economics 100, no. 3 (June): 459–474.
7.O’Shaughnessy, James P. 1997. What Works on Wall Street. New York: McGraw-Hill.
8.Odean, Terrance. 1998. “Are Investors Reluctant to Realize Their Losses?” Journal of Finance 53, no. 5 (October): 1775–1798.
Odean, Terrance. 1999. “Do Investors Trade Too Much?” A
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