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The Study into Factors Reducing Investment Project Financing Risks

Получена: 13.08.2019

Получена в доработанном виде: 27.08.2019

Одобрена: 10.09.2019

Доступна онлайн: 25.12.2019

Рубрика: РИСКИ, АНАЛИЗ, ОЦЕНКА

Коды JEL: G31, G32

Страницы: 395–402

https://doi.org/10.24891/df.24.4.395

Журнал «Дайджест-Финансы»
т. 24, вып. 4, декабрь 2019

PDF  PDF-версия статьи

Khakhanaev U.S. -E. Chechen State University (CHSU), Grozny, Chechen Republic, Russian Federation 
desperade@mail.ru

https://orcid.org/0000-0003-1616-2920
SPIN-код: отсутствует

Subject The article discusses the issue of revitalizing factors that reduce risks of investment project financing through a new risk classification set forth specifically for investment projects.
Objectives The article represents an empirical study into a new task of investment project financing, that is the identification of the most cost-effective financial sources and generation of cash flows as much as possible. This task requires to build a model for the gradual creation of a risk catalog, classify types of risks, describe risk factors and their impact on an investment process, determine what should be done to find factors reducing the risk of investment project financing.
Methods The study relies upon the Net Present Value (NPV) method, index-based method, comparative analysis, time series analysis.
Results The article presents the outcome of a comprehensive analysis of factors reducing the risk of investment project financing. I propose my own classification of risks identified by group of factors and describe them. The article formulates methodological recommendations to manage risks of investment project financing in an innovative manner and use the relevant tools, i.e. the catalog of factors reducing investment project financing risks.
Conclusions and Relevance There should be the gradual formation of the risk reduction factors catalog and thorough use of recommendations for choosing alternative sources of investment project finance in terms of NPV. The above approaches allow to make reasonable investment decisions in accordance with the existing criteria, such as NPV method, rate of return on investment, reasonable investor’s expenses for keeping its economic potential.

Ключевые слова: investment project, financing, risk, cash flow, risk reduction

Список литературы:

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ISSN 2311-9438 (Online)
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