Discussion views regarding the interpretation of key concepts of investment activities

Slatvinska Maryna
doctor of economic sciences, professor, head of the finance department, Odessa National University of Economics, Odessa, E-mail: slatma81@gmail.com, ORCID ID: https://orcid.org/0000-0002-7356-1189

Bryndak Valentyna
PhD student of the Department of Finance, Odesa National University of Economics, Odesa, E-mail: bvm.sv.25@gmail.com, ORCID ID: https://orcid.org/0000-0002-2326-2033

Cite this article:

Slatvinska M., Bryndak V. (2023) Discussion views regarding the interpretation of key concepts of investment activities. Ed.: V.V. Kovalenko (ed.-in-ch.) and others [Dyskusiini pohliady shchodo traktuvannia kliuchovykh poniat investytsiinoi diialnosti; za red.: V.V. Kovalenko (gol. red.)], Scientific Bulletin of the Odessa National Economic University (ISSN 2313-4569), Odessa National Economics University, Odessa, No. 5-6 (306-307), pp. 54-61.

Abstract

In order to develop a new format for the intensification of investment activity and the formation of an appropriate strategy for attracting material resources for the state in the form of investments, it is necessary to clearly define the categorical apparatus of "investment", "investment activity", "investment process". In the process of the research, the common features and weaknesses of several interpretations of the concepts of "investment", "investment activity", "investment process" of international authors of economic studies were considered, analyzed and revealed. The correct and complete interpretation of all defined categories will bring clarity and accurate analysis of the implementation of investment projects at both the micro and macro levels. Also, the categorical apparatus "investment", "investment activity", "investment process" was considered from the point of view of macro- and microeconomics. From the point of view of macroeconomics, investments are all types of resources in the form of reimbursed expenses for previously made investments and part of the increase in added value, which collectively ensure the continuity of the process of extended reproduction; from the point of view of microeconomics, investments are the application of financial, tangible and intangible capital in objects of entrepreneurial activity with the aim of increasing it and/or obtaining a social effect. The definition of the term "investment process" by modern authors of international and domestic research is reviewed and analyzed. It was determined that the investment process is a continuous process of realization of capital investments at various stages: from an idea to it’s implementation and the after-investment control. The article states that it is necessary to make changes to the regulatory framework of the Accounting Standards by extending the definition of the category "investment activity" in order to improve the analysis of the enterprises’ implementation of investment projects.

Keywords

investment, investment activity, investment process, categorical apparatus, key concepts.

JEL classification: E220, E620, F210, F650; DOI: 10.32680/2409-9260-2023-5-6 -306-307-54-61

UD classification: 336.02

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