Bozhanova V. Theoretical-methodological foundations of increase of investment attractiveness of housing construction

Українська версія

Thesis for the degree of Doctor of Science (DSc)

State registration number

0512U000344

Applicant for

Specialization

  • 08.00.04 - Економіка та управління підприємствами (за видами економічної діяльності)

20-04-2012

Specialized Academic Board

Д.64.089.01

Essay

The purpose of this work is in the conceptual and theoretical-methodological substantiation of organizational-economic mechanism that provides the investment attractiveness of housing and the interests of all its members. The object of study: the processes of functioning of organizational-economic mechanism that provide the investment attractiveness of housing and take into account the interests of all participants. Subject of research: theoretical, methodological and applied aspects of analysis and justification of the investment attractiveness of the housing. Research methods. Theoretical and methodological basis for the study were the legislative and regulatory acts of Ukraine on issues of affordable housing and housing finance, special studies and the experience of domestic and foreign scientists on improving the investment attractiveness of the housing, the results of the author's research, materials science and practical conferences. Study of the problem based on the dialectical methods of knowledge, which provide a comprehensive and objective of their study. The study used scientific methods (analysis, synthesis, abstraction, classification) and applied (financial and economic analysis, statistical methods and economic-mathematical modeling). To achieve this goal were used methods: the formal-logical approach (when defining the problems and characteristics of housing market conditions in the regions of Ukraine), a systemic approach (in the formulation of conceptual basis and fundamental principles of the housing market, the concept of taking into account the influence of market conditions in the management of investment processes on the real estate market, the analysis of models of organization of markets residential mortgage lending and investment vehicles housing); macroeconomic analysis (to determine trends in macroeconomic indicators, analyzing the dynamics of investment in housing by financing sources) and logical organizational model (the model for improving organizational economic mechanism to increase the investment attractiveness of housing and business model of the mortgage market, taking into account risk factors), regression analysis (the development of a methodological approach, which allows to determine the area attractive for investment in housing), factor analysis (to determine the influence of the parameters of bank mortgage lending programs the final cost of housing that is acquired by) the economic and mathematical modeling (in the development of models to determine the cost and market value of residential real estate for sale housing in various stages of construction, with varying lengths and terms of financing, the development of economic models and practical recommendations for improving accessibility housing for the population). The information base for the study were: theoretical and methodological development of domestic and foreign scientists, research papers, legislation and regulations, the State Statistics Committee of Ukraine and Dnipropetrovsk region, Ukrainian Building Materials Association, the State Mortgage Institution, analysis of the Association of Ukrainian Banks, a consulting company "Prostobank Consulting "analytical Agency" EVANS ", CB" Privatbank "JSPPB" Aval "and other banking institutions, the Ukrainian national Mortgage Association, Dnepropetrovsk estate agents' Union", "RealNest", etc. Scientific novelty of the results. Results of the study represent a new solution of scientific and applied problems in studies of organizational and economic mechanisms and rationalization of relations of participants in the investment process to ensure the attractiveness of housing, which is as follows: the first time: - methodical approach is justified by the formation of the theoretical and methodological foundations of organizational and economic mechanism for the investment attractiveness of housing for all its participants, as well as develop practical recommendations for its effective implementation in all spatio-temporal levels of the investment process, which is in contrast to the existing makes it possible to a more detailed budget to manage financial resources and the parameters of bank mortgage lending programs; - formulated the concept of assessing the impact on the market value of residential property in time for the investment management process (which is the need to display the real market value of residential real estate, as well as providing compensation for loss of income caused by opportunistic processes in the implementation of various financial transactions) and propose an appropriate methodological tools (dynamic model assessing the attractiveness of residential real estate market, which is used to assess trends in the investment process with rate conditions and determine their attractiveness to investors); - developed a methodical approach on the definition of an attractive area for investment in housing (static model assessing the attractiveness of residential real estate market, which shows the dependence of the market value of a typical home from the regional factor, which characterizes the dependence of the rental income on the location of the village in a national, regional and local systems production and dispersal), which allows to estimate zones (areas), attractive for investment, considering the location of the settlement in the region (region); improved: - conceptual framework and basic principles for the development of the housing market, which allowed to present it as a social tool to improve housing affordability for the population, the essence of which is shown through the implementation of its functions; - model of organization of the mortgage market, which, unlike the existing ones, combines elements of a one-tier and two-level models, and models of housing bonds for the first time allows the creation of the State Children's Fund of housing bonds, the accumulation of funds in which an initial payment on a mortgage is in exchange for the children's housing bonds, provides a regular flow of investments into housing construction and stabilizes its development, which allows future generations to ensure a quality and comfortable living environment; - practical recommendations for improving the affordability of housing for people with credit-deposit mechanism, which, unlike the existing ones, provide the consumer the opportunity to choose the most convenient scheme of payments, reducing the final cost of housing; - methodological tools for assessing investment opportunities in the public housing program of mortgage lending, which, unlike the existing ones, provides an objective assessment of solvency of the consumer mortgage loan by taking into account the additional revenues that arise during the use of the mechanism of deposit; - a definition of "investment attractiveness of the industry / country / region," which is defined as a state of the market environment in which the claims of a certain group of investors about the level of risk, profitability, and equal amounts of financial resources, as well as their relation during the formation of effective demand for investment is estimated value of the coefficient of market conditions (market rate - a criterion due to the relations of expected earnings and contributions, taking into account inflation and changes in the value of invested funds); was further developed: - scientific and practical advice on the implementation of pricing policies regarding the customer's contractor on the basis of incentive and restrictive measures on the sale of housing at various stages of construction, with varying duration and terms of financing, as part of the model to determine the cost and market value of residential real estate, which in Unlike existing ones, provide an opportunity to the customer (the developer) to choose the pricing policy with respect to the contractor on the basis of incentive and restrictive measures. The results of the introduction of dissertation: - the concept and methodological tools for assessing the impact on the market value of residential real estate over time in managing investment processes (the dynamic model of assessing the attractiveness of residential real estate market) was tested in the Dnipropetrovsk City Council (certificate № 7 / 12-2378 of 12.12.2011); - methodical approach to identify attractive areas for investment in housing (static model assessing the attractiveness of residential real estate market) was tested in the Office of Capital Construction of Dnipropetrovsk Regional State Administration (certificate № 05/04/10 of 05.04.2010); - practical recommendations to improve housing affordability for the population: for the segment of the population, which has the ability to purchase real estate loan, tested in the Association "Union Bank Dnieper" (certificate № 87/1 of 15.11.2011) for the segment of the population that wants to improve their living conditions, was tested in the Office of Capital Construction of Donetsk Regional State Administration (certificate № 1515 / 03-04/3 of 15.12.2011), for young families and single young people tested in the Office of Capital Construction of Dnipropetrovsk regional state administration (certificate № 05/04/10 of 05.04.2010); - methodological tools for assessing investment opportunities in the public housing program was tested in the mortgage lending association "Union Bank Dnieper" (certificate № 87/1 of 15.11.2011); - scientific and practical advice on the implementation of pricing policies regarding the customer's contractor as part of the model to determine the cost and market value of residential real estate for sale housing in various stages of construction, with varying duration and conditions of the financing was tested in LLC "Avista-Trading" (certificate № 1 of 12.01.2009), and in the SPC "Promstroyprogress" (certificate № 46-01 of 10/11/2011); The research results are used in teaching the department of management, project management and logistics SHEI "Pridneprovsk State Academy of Civil Engineering and Architecture" in teaching the course "Fundamentals of Management Consulting" (certificate № 37-01-613 of 12/14/2011 city). Field of use: residential construction.

Files

Similar theses