Pokatayeva K. Management of machine-building enterprises' investment activity

Subject of the research work: machine-building enterprises' investment activity. Objective of the research: development of theoretical bases of investment activity management and elaboration of organization and methodical theses and practical recommendations as to application of its instrumentation by machine-building enterprises. Methods and techniques of the research: methods of theoretical generalization, analysis and synthesis, system and complex approach, statistical and graphical, multidimensional factor analysis, imitation modeling and mathematic programming. Theoretical and practical results: the methodical approach to enterprises' investment attractiveness appraisement has been improved at the expense of constructed on the basis of multidimensional factor analysis the perspective integral index allowing to obtain objective and reliable estimations as a determinants of grounded decision making relatively investment activity object direction and furthering to optimize limited investment capitaldistribution among potential recipients; the methodical approach to optimal investment portfolio construction has been improved on the basis of created economic and mathematic model using an investment effect utility as a criterion allowing to take into account investment alternatives' preferability considering both their expected net present value and investor risk tolerance and furthering to rise the degree of investment decision groundness and investment management efficiency; the theoretical and methodical bases of enterprises' investment activity management have been improved at the expense of making more precise the process of investment strategy forming and grounding of theoretical and instrumental procedures of the process of decision making relatively investment activity object direction optimization by means of revealing the logic of the same name subsystem functioning in the system of investment management furthering to employ a latter's instrumentation for rising of investing profitability more effectively; the conceptual approach to economy essence and content of enterprise's investment activity has obtained further development on the basis of its definition as a dynamic system presented by the unity of the processes of investment resources accumulation and expenditure whose efficiency being ensured by investment management allowing to model the desirable condition of such system for determining an optimal management directed to its achievement; the investment classification has obtained further development on the basis of existent approaches systematization and making more precise the typing after such signs as realization compatibility, correlation degree, income dependence, act direction allowing to reveal thoroughly investment economic nature and many-sided manifestation for improvement of their planning, estimation and analysis. Novelty: for the first time there has been offered the theoretical and methodical approach for enterprise's investment management system efficiency evaluation based on dynamic systems theory in which the difference between desirable and fact traces of change of investment activity condition expressed by proposed indexes of investment portfolio utility and enterprise' investment attractiveness has been determined as a management quality criterion allowing unlike existent approaches to form the mechanism of reverse tie for reciprocal concordance of correcting influences in enterprise's investment management system directed to achievement the planned indicators of investment activity. Stage of introduction: principal methodical and applied results of the thesis have been introduced at practical activity of machine-building enterprises: DP KhMZ 'FED' (Kharkiv), KhDAVP (Kharkiv), VA NVT 'Teploavtomat'. The results of the research work have been used in the educational process at KhNADU in the course of subjects 'Investing', 'Project Analysis', 'Enterprise' Activity Planning', 'Project Management'. Sphere of application: public administration and Ministry of Industrial Policy of Ukraine, machine-building enterprises, educational process.