graduate student
Krasnoyarsk, Krasnoyarsk, Russian Federation
UDK 339.37 Розничная торговля. Мелкая торговля
UDK 330.322 Инвестиции. Образование капитала
GRNTI 71.31 Розничная торговля
The article discusses various theoretical approaches to the concepts of the categories «investment» and «investment activity». A brief history of the development of theoretical approaches is presented, as well as formulations of domestic and foreign authors using them. Based on the material studied, the advantages and disadvantages of each approach are presented. Due to the inability to fully reflect the essence of these categories when using only one approach, the author focuses his attention on a mixed approach. The culmination of the study is the presentation of the author’s formulations of the categories «investment» and «investment activity» and a graphical display on their basis of the characteristics of business processes in the investment activity of a retail enterprise and a model of the process of conducting investment activity in a retail enterprise.
investments, investment activity, retail trade, theoretical approaches
1. Tereshchenko, N. N., Esina, O. N., Ilyina, A. S. (2022). Efficiency of activities of a trading enterprise. Krasnoyarsk: Siberian Federal University, 220. EDN NOOUSI.
2. Alekseeva, N. I. (2018). Strategic planning of economic behaviour of an enterprise: theory and methodology: monograph. Donetsk: Donetsk National University of Economics and Trade, 372.
3. Akinfiev, V. K. (2014). Selection of investment strategies of companies in the context of market instability. Management of Large Systems: Proceedings, 51, 107–129. EDN THZDPP.
4. Russian Federation. Laws. On investment activities in the Russian Federation in the form of capital investments: Federal Law No. 39 dated 25 February 1999; as amended on 25 December 2023. ConsultantPlus reference legal system. [Electronic source] URL: http://www.consultant.ru. (Date of access: 08.04.2024).
5. Russian Soviet Federative Socialist Republic. Laws. On investment activities in the RSFSR: Law No. 1488-I dated 26 June 1991: as amended on 26 July 2017. ConsultantPlus reference legal system. [Electronic source] URL: http://www.consultant.ru. (Date of access: 08.04.2024).
6. Russian Federation. Russian National Standards GOST. GOST R 54147-2010 National standard of the Russian Federation. Strategic and innovation management. Terms and definitions. Approved by Order No. 901-article of the Federal Agency for Technical Regulation and Metrology on 21 December 2010. ConsultantPlus reference legal system. [Electronic source] URL: http://www.consultant.ru. (Date of access: 08.04.2024).
7. Convention. Convention of the CIS countries on the protection of investor rights as of 28 March 1997, as amended on 28 March 1997. ConsultantPlus reference legal system. [Electronic source] URL: http://www.consultant.ru. (Date of access: 08.04.2024).
8. McConnell, C. R., Brue, S. L., Flynn, S. M. (2018). Economics: Principles, Problems, and Policies. Moscow: INFRA-M, 1028.
9. Brezinskaya, L. V., Voronina, E. A., Markovskaya, E. V. [et. al.] (2021). Problems of theory and practice of the strategy for the development of the forest industry of Krasnoyarsk Territory. M. F. Reshetnev Siberian State University of Science and Technology, 184. EDN MQNIUJ.
10. Kozlov, A. A. (2022). Theoretical approaches to determining the category of “investment”. Financial Bulletin, 1(56), 66–71. EDN NTPFZQ.
11. Toshmatov, M. N. (2021). Analysis and synthesis of theoretical approaches to the key economic category of investment. Bulletin of the Technological University of Tajikistan, 1(44), 177–189. EDN ZXJQLR.
12. Sharp, W. F., Alexander, G. J., Bailey, J. V. (2022). Investments. Moscow: INFRA-M, 1028.
13. Lyamin, B. M. (2018). Theoretical aspects of innovation and investment activities of enterprises in the trading industry. Intellect. Innovation. Investments, 5, 20–25. EDN XVILGH.
14. Turekulova, D. M., Mukhambetova, L. K., Bermukhamedova, G. B. (2019). Primary approaches to the scientific definition of investments and investment activity. Central Asian Economic Review, 1(124), 134–143. EDN IYOOES.
15. Pereverzeva, A. A. (2022). The influence of the policy of the Bank of Russia on the investment behaviour of the population in the financial market. Degree program: 08.00.10 Finance, Money Circulation and Credit: dissertation for the degree of Candidate of Economic Sciences, 267. EDN MFOTPW.
16. Lutsenko, E. V., Loiko, V. I., Baranovskaya, T. P. (2017). From investment management to management with the help of investments. New Technologies, 4, 184–192. EDN YMPNSN.
17. Dmitriev, N. D., Dubanevich, L. E., Tyutyunnikova, I. E. (2020). Rationalization of investment activity of an industrial enterprise using a systems approach. Modern Economy Success, 4, 61–66. EDN UQUCAD.
18. Butko, G. P., Zaprudnov V. I. (2013). Methods for assessing the investment attractiveness of a timber industry enterprise at the current stage of development. Bulletin of Moscow State Forest University – Forest Bulletin, 2, 130–134. EDN PXQDTD.
19. Drobotova, O. O., Fam, T. K. A. (2018). Investment activity of small and medium-sized businesses. Kant, 2(27), 276–282. EDN XRDVXV.
20. Kakora, M. I. (2016). Theoretical fundamentals of investment activities of organizations in the processing industry. Collection of Scientific Papers “Problems of Economics”, 1(22), 100–110. EDN YLFZPH.
21. Kucheruk, D. V., Mogharbel, N. O. (2021). Efficiency of investments in the marketing activities of an enterprise. Marketing innovations in the modern world: a collection of scientific and practical articles of the All-Russian (national) scientific and practical conference, Volgograd, 6–7 April 2021, Volgograd State Technical University. Volgograd: University Book Closed Joint Stock Company, 34–36. EDN AHBIIA.
22. Voblaya, I. N. (2016). Methodological approaches to assessing the effectiveness of investments in the agricultural economy. Bulletin of the Adygea State University, Series 5: Economics, No. 4(190), 159–168. EDN ZFLTFJ.
23. Panyagina, A. E. (2012). Methodological approaches to investment management as a continuous reproduction process. THE CONCEPT Scientific and Methodological Electronic Journal, No. 11, 63–68. EDN PGPPZX.
24. Waibel, Michael. (2021). Subject Matter Jurisdiction: The Notion of Investment. [Electronic source] URL: https://ssrn.com/abstract=3763725 (Date of access: 08.04.2024).
25. Lapaev, D. N., Potashnik, Ya. S. (2014). Analysis of theoretical approaches to the essence and classification of investments in industry. Humanization of Education, 5, 58–65. EDN SPTIEP.
26. Ziyaeva, M. D. (2023). Study of theoretical approaches to determining investments as an economic category. Tajikistan and the Modern World, 2(82), 172–182. EDN CBUPWN.
27. Dzhioyev, V. A. (2020). Investments and the investment process: genesis and modern approach. University Bulletin, 10, 101–106. DOIhttps://doi.org/10.26425/1816-4277-2020-10-101-106. EDN PYYPDW.
28. Polonik, S. S., Khorobrykh, E. V., Litvinchuk, A. A. (2018). World practices in the formation and development of green investments in the context of ensuring sustainable economic growth. Bulletin of Polotsk State University, Series D. Economic and Legal Sciences, No. 13, 2–11. EDN YWGNZZ.
29. Raizberg, B. A., Lozovsky, L. Sh., Starodubtseva, E. B. (2024). Modern economic dictionary, 6th edition, updated and revised. Moscow: INFRA-M, 512.
30. Samuelson, P. A. & Nordhaus, W. D. (2020). Economics. Moscow: [without a publisher]; St. Petersburg: Dialektika, 1325.
31. Boldyrev, D. S. (2013). Theoretical foundations and economic nature of the main categories of investment analysis. Content analysis of the concepts "investment", "investment" and "investment activity". Economic analysis: theory and practice, 7(310), 27–36. EDN PUNTBL.
32. Vlasov, S. V. (2022). On the complementary property of investments. Aspects of Management, 1(74), 21–33. DOIhttps://doi.org/10.22394/2304-3369-2022-1-21-33. EDN UPSWZK.
33. Mikhalskaya, L. S., Lishenko, A. V. (2020). Formation of a mechanism for managing real investments of an enterprise. Finance. Accounting. Banks, 1-2(30-31), 62–71. EDN FTKJUR.
34. Mikhaleva, O. M., Sheven, N. N. (2017). Investment activity of the region: essence, content, management methods. Economics. Sociology. Law, No. 4(8), 67–72. EDN ZXQNVL.
35. Sultanova, E. A. (2018). Concept and principles of investment activity of an organization. Current Problems of Modern Economics, 7, 60–64. EDN YOHYLB.
36. Veretennikova, O. B., Rybina, E. S. (2013). The essence of investment and investment activity in the economic system. Bulletin of Omsk University. Series: Economics, 1, 136–141. EDN QIOVUZ.
37. Kuznetsova, O. S. (2018). Investment activity of Russian banks and challenges of its implementation. Bulletin of the Humanitarian University, 1, 22–25. ISSN 2308-8117.
38. Popondopulo, V. F. (2017). Investment activity: concept, legal forms of implementation and public organization. Bulletin of Higher Educational Institutions. Jurisprudence, 4(333), 207–224. EDN ZWJEAJ.
