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Authors : 1. Leonid M. Rabinovich,
Honored Researcher of the Russian Federation and Tatarstan Republic, Doctor of Economics, Professor
Institute of Economics, Management and Law (Kazan), Russia
2. Elizaveta P. Fadeyeva,
Doctor of Economics, PhD (Physics and Mathematics), Associate Professor
Naberezhniye Chelny branch of Institute of Economics, Management and Law (Kazan), Naberezhniye Chelny, Russia
Scientific management for investment process
Objective: basing on the results of long-term researches of the authors, to reveal the principles of solving the most complex, important and disputable aspects, allowing to take a new view of the investment issue, which is often referred to, but is still poorly investigated.
Methods: during research a complex of various methods was used, such as economic-mathematical methods of modelling and empirical analysis with statistical software STADIA, STATGRAPHICS, STATISTICA and SPSS. Besides, the Monte-Carlo method of investment risk estimation and Charlier probability distribution were used.
Results: it was stated, the oretically proved and methodologically grounded that, despite the current opinion, the main parameters of the two hundred investment projects under research are normally distributed (Gauss Law), while the NPV does not follow this law. That is why the traditional methods cannot be used and should be substituted for the ones presented in the article. The reliability of the results is high due to the use the actual database of two hundred investment objects.
Scientific novelty: grounding the non-standard, creative approach to investment projects evaluation and choosing the most effective option.
Practical value: the owners, managers and employees of enterprises of various economic sectors may implement the new methods of analysis, and prediction of investment processes, which will promote the rational using of investment and increasing the production efficiency. The authors’ conclusions and proposals are unique and new, and their implementation can be practically useful due to the grounded attraction and rational use of investment, thus increasing the production efficiency.
Keywords :
Investment; Efficiency; Methodological approaches to analysis; Economic-mathematical methods of analysis and prediction; Monte-Carlo method; Charlier probability distribution; Modelling of investment process; Gauss Law; Production efficiency; Investment process
Bibliography :
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5. Vadzinskii, R.N. Spravochnik po veroyatnostnym raspredeleniyam (Reference book on probability distributions). Saint Petrsburg: Nauka, 2001, 295 p.
6. Lukasevich, I.A. Analiz finansovykh operatsii. Metody, modeli, tekhnika vychislenii: ucheb. posobie (Analysis of financial operations. Methods, models, calculation technique: manual). Moscow: YuNITI, 1998, 400 p. ISBN 5-85173-115-X
Citation :
Rabinovich L.M., Fadeyeva E.P. Scientifi c management for investment process, Actual Problems of Economics and Law, 2014, No. 4 (32), pp. 170–182.
Type of article : The scientific article
Date of receipt of the article :
16.09.2014
Date of adoption of the print :
28.11.2014
Date of online accommodation :
20.12.2014
