DOI: https://doi.org/10.32515/2663-1636.2019.3(36).274-283
Project Risk Management in the Investment Activity of the Road Sector
About the Authors
Viktor Koval, Professor, Doctor in Economics (Doctor of Economic Sciences), Professor of the Department of Applied Economics, Odessa Institute of Trade and Economics of Kyiv National University of Trade and Economics, Odessa, Ukraine, E-mail: victor-koval@ukr.net
Inessa Mikhno, PhD in Economics (Candidate of Economic Sciences), Associate Professor of the Department of Economics, International European University, Kiev, Ukraine, E-mail: inessa.mihno@gmail.com
Maryna Bashinskaya, PhD in Economics (Candidate of Economic Sciences), Associate Professor of Department of Business and Tourism Management, Izmail State Humanitarian University, Izmail, Ukraine,
E-mail: lympia1005@gmail.com
Abstract
The infrastructure industry is highly risky compared to other activities. The influence of many external factors on the sphere of transport services makes it difficult to predict and risky in comparison with other types of economic activity.
The purpose of the article is to identify risks in the transport sector, and to analyze the investment activity and problems of the modern infrastructure market as a road economy of Ukraine.
The article discusses risks in the transport sector, analyzes the dynamics of risk indicators, investment attractiveness and problems of the modern infrastructure market as a road economy in Ukraine. It was revealed that the transport sector is one of the most risky due to the influence of external factors. The existence of uncertainty when planning the activities of transport companies and the unsatisfactory state of development of Ukraine's infrastructure is the reason for the decline in the country's public welfare. Existing risk can serve not only as an obstacle, but also as an incentive that encourages business structures and the state to actively form, develop and use new risk management tools, modernize existing systems, which will allow them to function more effectively in today's market conditions.
It has been established that the development of infrastructure improves the development of other industries, contributes to the influx of investment in the country, increases economic potential, therefore, it is proposed to increase the relationship between enterprises and the state to solve the problem, situation. An important step towards improving the situation is the formation of a competitive services market and the increasing role of local authorities in budget allocation, attracting qualified workers and increasing transparency and control of the population and communities over all processes taking place in the field of infrastructure. One way to reduce risk in the transport sector is to modernize and control existing infrastructure and allocate financial resources through open online information systems and increase the role of local authorities and communities.
Keywords
risk, transport system, infrastructure, investment, road facilities
Full Text:
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References
1. Kvach Y.P., Grimaluk A.V., Koval V.V. Economic prospects of the world investment system. Zovnіshnja torgіvlja: ekonomіka, fіnansi, pravo - Foreign Trade: Economics, Finance, Law, 1 (96), 49-60 [in Ukrainian].
2. Kuznetsova, N.V. (2004). Upravlenie riskami [Risk management]. Vladivostok: Far Eastern University Publishing House [in Russian].
3. Semenov, N. (2013). Diversifikacija hozjajstvovanija kak faktor ustojchivogo razvitija biznes-struktur. [Business diversification as a factor of sustainable development of business structures]. RISK: Resursy, informacija, snabzhenie, konkurencija - RISK: Resources, Information, Supply, Competition, (4), 87-88 [in Russian].
4. Urodovskikh, V. N. (2010). Upravlenie riskami predprijatija [Enterprise risk management]. M .: High school textbook: INFRA-M [in Russian].
5. Bouchaud, J. P., & Potters, M. (2000). Theory of financial risks (Vol. 4). From Statistical Physics to Risk Management: Cambridge University Press, Cambridge [in English].
6. Koval, V., Prymush, Y., & Popova, V. (2017). The influence of the enterprise life cycle on the efficiency of investment. Baltic Journal of Economic Studies, 3(5), 183–187. doi:10.30525/2256-0742/2017-3-5-183-187 [in English].
7. State statistics service of Ukraine. Retrieved from http://od.ukrstat.gov.ua/ (дата звернення 21/11/2019).
8. Tamosiuniene, R.; Demianchuk, M.; Koval, V. State Regulation of Bankruptcy Relations in the National Economy. Economics. Ecology. Socium. 2019, №3. 19-27 [in English].
9. Yankovyi, O., Goncharov, Yu., Koval, V., & Lositska, T. (2019). Optimization of the capital-labor ratio on the basis of production functions in the economic model of production. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 4, 134-140 [in English].
GOST Style Citations
- Квач Я.П., Грималюк А.В., Коваль В.В. Економічні перспективи світової інвестиційної системи. Зовнішня торгівля: економіка, фінанси, право. 2018. № 1 (96). С.49-60.
- Кузнецова Н. В. Управление рисками. Владивосток: Изд-во Дальневосточного университета. 2004. 168 с.
- Семенов, Н. Диверсификация хозяйствования как фактор устойчивого развития бизнес-структур. РИСК: Ресурсы, информация, снабжение, конкуренция, 2013. № (4), 87-88.
- Уродовских В. Н. Управление рисками предприятия. М.: Вузовский учебник: ИНФРА-М. 2010. 168 с.
- Bouchaud J. P., Potters M. Theory of financial risks (Vol. 4). From Statistical Physics to Risk Management: Cambridge University Press, Cambridge. 2000. 217 p.
- Koval V., Prymush Y., & Popova V. The influence of the enterprise life cycle on the efficiency of investment. Baltic Journal of Economic Studies. 2017. № 3(5). 183–187. doi:10.30525/2256-0742/2017-3-5-183-187
- State statistics service of Ukraine. Retrieved from http://od.ukrstat.gov.ua/ (Дата звернення 21.02.2020).
- Tamosiuniene R., Demianchuk M., Koval V. State Regulation of Bankruptcy Relations in the National Economy. Economics. Ecology. Socium. 2019, №3. 19-27.
- Yankovyi, O., Goncharov Yu., Koval, V., & Lositska T. Optimization of the capital-labor ratio on the basis of production functions in the economic model of production. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2019.4. 134-140.
Copyright (c) 2019 Viktor Koval, Inessa Mikhno, Maryna Bashinskaya
Project Risk Management in the Investment Activity of the Road Sector
About the Authors
Viktor Koval, Professor, Doctor in Economics (Doctor of Economic Sciences), Professor of the Department of Applied Economics, Odessa Institute of Trade and Economics of Kyiv National University of Trade and Economics, Odessa, Ukraine, E-mail: victor-koval@ukr.net
Inessa Mikhno, PhD in Economics (Candidate of Economic Sciences), Associate Professor of the Department of Economics, International European University, Kiev, Ukraine, E-mail: inessa.mihno@gmail.com
Maryna Bashinskaya, PhD in Economics (Candidate of Economic Sciences), Associate Professor of Department of Business and Tourism Management, Izmail State Humanitarian University, Izmail, Ukraine, E-mail: lympia1005@gmail.com
Abstract
Keywords
Full Text:
PDFReferences
1. Kvach Y.P., Grimaluk A.V., Koval V.V. Economic prospects of the world investment system. Zovnіshnja torgіvlja: ekonomіka, fіnansi, pravo - Foreign Trade: Economics, Finance, Law, 1 (96), 49-60 [in Ukrainian].
2. Kuznetsova, N.V. (2004). Upravlenie riskami [Risk management]. Vladivostok: Far Eastern University Publishing House [in Russian].
3. Semenov, N. (2013). Diversifikacija hozjajstvovanija kak faktor ustojchivogo razvitija biznes-struktur. [Business diversification as a factor of sustainable development of business structures]. RISK: Resursy, informacija, snabzhenie, konkurencija - RISK: Resources, Information, Supply, Competition, (4), 87-88 [in Russian].
4. Urodovskikh, V. N. (2010). Upravlenie riskami predprijatija [Enterprise risk management]. M .: High school textbook: INFRA-M [in Russian].
5. Bouchaud, J. P., & Potters, M. (2000). Theory of financial risks (Vol. 4). From Statistical Physics to Risk Management: Cambridge University Press, Cambridge [in English].
6. Koval, V., Prymush, Y., & Popova, V. (2017). The influence of the enterprise life cycle on the efficiency of investment. Baltic Journal of Economic Studies, 3(5), 183–187. doi:10.30525/2256-0742/2017-3-5-183-187 [in English].
7. State statistics service of Ukraine. Retrieved from http://od.ukrstat.gov.ua/ (дата звернення 21/11/2019).
8. Tamosiuniene, R.; Demianchuk, M.; Koval, V. State Regulation of Bankruptcy Relations in the National Economy. Economics. Ecology. Socium. 2019, №3. 19-27 [in English].
9. Yankovyi, O., Goncharov, Yu., Koval, V., & Lositska, T. (2019). Optimization of the capital-labor ratio on the basis of production functions in the economic model of production. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 4, 134-140 [in English].
GOST Style Citations
- Квач Я.П., Грималюк А.В., Коваль В.В. Економічні перспективи світової інвестиційної системи. Зовнішня торгівля: економіка, фінанси, право. 2018. № 1 (96). С.49-60.
- Кузнецова Н. В. Управление рисками. Владивосток: Изд-во Дальневосточного университета. 2004. 168 с.
- Семенов, Н. Диверсификация хозяйствования как фактор устойчивого развития бизнес-структур. РИСК: Ресурсы, информация, снабжение, конкуренция, 2013. № (4), 87-88.
- Уродовских В. Н. Управление рисками предприятия. М.: Вузовский учебник: ИНФРА-М. 2010. 168 с.
- Bouchaud J. P., Potters M. Theory of financial risks (Vol. 4). From Statistical Physics to Risk Management: Cambridge University Press, Cambridge. 2000. 217 p.
- Koval V., Prymush Y., & Popova V. The influence of the enterprise life cycle on the efficiency of investment. Baltic Journal of Economic Studies. 2017. № 3(5). 183–187. doi:10.30525/2256-0742/2017-3-5-183-187
- State statistics service of Ukraine. Retrieved from http://od.ukrstat.gov.ua/ (Дата звернення 21.02.2020).
- Tamosiuniene R., Demianchuk M., Koval V. State Regulation of Bankruptcy Relations in the National Economy. Economics. Ecology. Socium. 2019, №3. 19-27.
- Yankovyi, O., Goncharov Yu., Koval, V., & Lositska T. Optimization of the capital-labor ratio on the basis of production functions in the economic model of production. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2019.4. 134-140.