E. A. NERETINA, E. V. SOLDATOVA. CURRENT STATE AND STRATEGIC DIRECTIONS OF DEVELOPMENT OF INVESTING ACTIVITIES OF ENTERPRISES IN A REGION

E. A. NERETINA, E. V. SOLDATOVA.

CURRENT STATE AND STRATEGIC DIRECTIONS OF DEVELOPMENT OF INVESTING ACTIVITIES OF ENTERPRISES IN A REGION

Key words: region, investment, innovative activity, investment potential, project, marketing, rankings, enterprise

Abstract. The paper presents the results of a study of the investment potential of the Republic of Mordovia; the main sources of funding regional business are identified, the key actors in the investment market and strategic investment targets are singled out. Special attention is paid to specific features of financing of innovative projects undertaken by regional enterprises and organizations, as well as to methods of attracting investors.

Synopsis. Introduction: in their search for sources of funding business, regional companies have to operate under contradictory conditions. Despite favorable trends in the capital markets (reducing barriers to entry into the Russian and international markets of investment resources due to development of information technologies, expansion of funding sources and emergence of new investment instruments), the issue of finding prospective investors and attracting investment into the region remains relevant. In the face of reduction of public investment and outflow of foreign capital due to sanctions imposed on Russia by foreign states, the model of investor behavior based on speculative expectations becomes the dominant one.

Materials and Methods: the study was based on the data from the Ministry of Economic Development of the Russian Federation, the Ministry of Economy of the Republic of Mordovia, the Corporation for Development of the Republic of Mordovia, as well as on annual statistical compilations and reports of enterprises and organizations. The research used the methods of induction and deduction, of comparison and grouping, as well as content analysis and structural analysis.

Results: the study of the investment potential of the Republic of Mordovia revealed a positive trend of attracting investments into the fixed capital. The structure of investment in the region by the sources of funding is dominated by the own funds of enterprises and organizations, public investment taking a significant share. Sectoral structure of investments indicates the predominance of manufacturing industries, transport and communication. Large enterprises dominate those implementing investment projects on the territory of the region. One of the strategic investment projects of the region is the development of innovative territorial cluster of the Republic of Mordovia, "Energy efficient lighting engineering and intellectual lighting control system", bringing together industrial enterprises, leading scientific organizations and the region's institutes of higher education.

Discussion and Conclusions: it is recommended to use the value-oriented approach as a promising methodological approach to the search and attraction of investors because it allows balancing the values of the owners of financial resources and those of the consumers of capital.

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⁶ Ibid.

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¹¹ Ibid.

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²⁰ See reference number 12 in the list of References.

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NERETINA Evgeniya Alekseyevna, Doctor of Economic Sciences, Full Professor, Head of the Department of Marketing, National Research Mordovia State University (Saransk, Russian Federation),e-mail: ch.marketing@econom.mrsu.ru.

SOLDATOVA Elena Vladimirovna, Candidate of Economic Sciences, Associate Professor at the Department of Marketing, National Research Mordovia State University (Saransk, Russian Federation), e-mail: elensold@mail.ru.