Investment Project Selection Methods for the Provision of State Support Measures

Abstract
In the world theory and practice, investment and project analysis is based on cost-benefit analysis, aimed at assessing commercial and economic efficiency of investment projects. The existing methodologies, guidelines and regulations used by state authorities in different countries to sel ect investment projects for the provision of state support measures include the main aspects and criteria of cost-benefit analysis, but at the same time, contain a number of significant drawbacks. The author has developed a new selection methodology for investment projects to provide state support measures, taking into account imperfections of the existing methodological approaches as well as criteria of the applicable regulations, which is recommended for practices in the territory of the Russian Federation. The article provides
the examples on how to adapt it and a comparative analysis of the results of the investment project selection.

Keywords
methods, selection, government support, investment project, efficiency, parameter, comparative analysis, formula, integral indicator, ranking

Read article


References

1. Berens V., Havranek P. M. Manual for the preparation of industrial feasibility studies. Moscow, 1995, 344 p. (in Russ.) 
2. Nechaeva N. A. Criteria of Selection of Investment Projects for the Provision of State Support Measures. World of Economics and Management, 2019, vol. 19, no. 1, p. 5–25. (in Russ.) DOI 10.25205/2542-0429-2019-19-1-5-25
3. Davydova G. V., Belikov A. Yu. Methods of quantitative assessment of the risk of bankruptcy of enterprises. Upravlenie riskom [Risk Management], 1999, no. 3, p. 13–20. (in Russ.)
4. Nechaev N. G., Dushkin V. N. Assessment of the probability of bankruptcy of integrated agro-industrial units. Vestnik of Voronezh State Agrarian University, 2016, no. 1 (48). p. 222–232. (in Russ.) 
5. Sapegina A. A. Logical models for diagnosing bankruptcy of an enterprise. Molodoy issledovatel' [Young researcher], 2016, no. 1, p. 1–12. (in Russ.) 
6. Pashtova L. G., Emeliyanova M. O., Shashkova P. G. Applied aspects of diagnosing the risk of bankruptcy of large oil companies. Finansovaya analitika: problemy i resheniya [Financial analytics: problems and solutions], 2014, no. 39 (225), p. 25–33. (in Russ.) 
7. Kravchenko A. V., Samsonova I. V., Starykh A. A. Identification of the possibility of bankruptcy of construction enterprises to assess their financial condition. Finansy [Finance], 2009, no. 6, p. 52–57. (in Russ.) 
8. Fedorova E. A., Gilenko E. V., Dovzhenko S. E. Bankruptcy forecasting models: features of Russian enterprises. Studies on Russian Economic Development, 2013, iss. 2, p. 85–92. (in Russ.)
9. Melnikov R. M. Criteria for the selection of priority projects to support fr om budgetary resources and ways to improve them. Finansy [Finance], 2015, no. 1, p. 25–30. (in Russ.)