Yelnikova Y. Responsible investment in the context of public invest-ment policy realization

Українська версія

Thesis for the degree of Doctor of Science (DSc)

State registration number

0521U101682

Applicant for

Specialization

  • 08.00.03 - Економіка та управління національним господарством

14-05-2021

Specialized Academic Board

Д 55.051.06

Sumy State University

Essay

The thesis is devoted to solving the scientific problem of the development of methodical and methodological approaches to the implementation of public investment policy based on responsible investment aimed at achieving Sustainable Development Goals. Conceptual principles for determining the role of public investment policy based on responsible investment in the investment chain transformation were developed in the paper. Directions of transformation of the conceptual apparatus in the field of respon-sible investment depending on the evolution of responsible investment, the criteria of investment screening, and their application's peculiarities were justified. The classification features system of responsible investment standards was de-veloped to institutionalize this type of investment in the context of multiplication of normative sources related to EESGE-criteria and targets of Sustainable Development Goals. The scientific basis for prioritizing the sources of closing the investment gap to achieve the Sustainable Development Goals was created within correlation analysis and statistical testing. The structuring of the information and bibliometric landscape of the research in the field of public investment policy implementation tools was carried out based on terminological, bibliometric, and trend analyses using the tools of VOSViewer 1.6.15, Google Trends and Google Data. The impact investment was identified as one of the most priority tools of the public investment policy and the conceptual framework for its implementation was developed. Clustering of countries according to the level of their attractiveness for responsible investment according to ESG-criteria was carried out based on the method of data mining Expectation-Maximization, variance, and discriminant analysis, and construction of the classification tree. Approach to two-level assessment of Ukraine's progress in achieving national Sustainable Development Goals under public investment policy implementation was recommended. This approach is based on analysis of the consistency of national and global monitoring results (method of benchmark analysis) and analysis of regulatory interventions compliance with Sustainable Development Goals level (according to the Kuder-Richardson and Cronbach criteria dichotomous and polytomous scales). Clustering of public-owned companies of Ukraine based on a two-component indicator was carried out. Hypotheses about the impact of the investment environment transparency (according to the number of signatories to the UN Global Compact) on the country's com-petitiveness (according to the Global Competitiveness Index) and its achievement of the Sustainable Development Goals were put forward and empirically confirmed. Comparison of the principles of public investment policy formation, proclaimed international organizations, allows to identificate a key ones and outline on their basis a system of priority measures for reforming public investment policy in Ukraine.

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