Novikova I. The value-based vanagement of enterprisi investment

The object of research: the process of investment management of enterprise that focuses on the growth of enterprise value. The goal of research: improving of the theoretical and methodological principles of management of investment activity as a part of the overall system of the management of enterprise value. Methods of research and apparatus: the method of logical generalization, of abstraction, system structural analysis, comparative and statistical analysis of economic-mathematical modeling and forecasting, graphical method.Theoretical and practical results: the results are methodical developments, practical recommendations for the evaluation of strategic investments that are based on the use of the index of equivalentvalue added of the cash flow and the level of resistance of the added monetary value of the investment project.The novelty: scientific and methodical approach of the coordination of strategic and ongoing investment decisions has been developed, which is based on the use of the index of equivalent cash value added of investments and provides for the formation of an optimal portfolio of real projects supporting the (current) of investments based on the criterion of maximizing the equivalent cash valueadded of the strategic investments; it has been improved the model of cash value added; it has been improved scientific and methodical approach to determinationof the period of economic life of the strategic investmentsas a forecast period of the calculations of their efficiency; it has been improved methodological approach to the evaluation of investmentefficiency; the further development has been obtained the concept of enterprise cost management by a substantiation of the value-oriented investment management; the further development has been obtained the principles of management of the investment activities of the enterprise. The degree of implementation: the developments and recommended practice have been implemented in the activity: JSC "NASOSENERGOMASH Sumy", in the educational process of Shostka Institute of Sumy State University. Scope (industry) use: economics and business management.