BANKING TOOLS FOR STIMULATING THE INVESTMENT ACTIVITY OF BUSINESS ENTITIES

Hanna Saltykova

Sumy State University,
Sumy, Ukraine

Iryna Kozhushko

Sumy State University,
Sumy, Ukraine

Dmytro Gurieiev

Sumy State University,
Sumy, Ukraine

Pages: 14-28

Original language: Ukrainian

DOI: 10.21272/1817-9215.2023.3-02

Summary:
The research is devoted to the investment activity of domestic enterprises in the conditions of a changing and difficult-to-predict economic environment, which is currently an extremely relevant issue. Intensification of investment activities is traditionally considered the main driver of economic growth and ensuring the expanded reproduction of production potential. The purpose of the article is to study the main factors affecting the investment activity of enterprises with an emphasis on the instruments of the national banking sector, to single out the most important of them, to investigate the strength of their influence and, on this basis, to forecast the volume of bank lending as a source of financing investment activity. Methodical approaches to the interpretation of the definition of "investment activity" were analyzed, the main factors affecting the analyzed aspect of entrepreneurial activity were identified as the basis for determining the capabilities of business entities to increase their investment activity. The possible impact on the investment activity of enterprises of instruments of the domestic banking sector and the monetary policy of the National Bank of Ukraine has been singled out and analyzed. The current state of the relationship and the stimulating effect of the banking sector's tools on the investment activity of enterprises has been studied. An econometric model of the influence of individual factors on the volume of bank lending to economic entities and, as a result, their investment activity, was built. A close interrelationship of the identified features was revealed and a forecast of possible ways of further development of the investigated aspect of entrepreneurial activity was made. The theoretical significance of the conducted research lies in the expansion of scientific views on the stimulating effect of the banking sector's instruments on the investment activity of enterprises. The practical value lies in the formation of recommendations for the integration of banking sector tools into the process of stimulating the investment activity of enterprises. We consider it expedient to direct further research in the context of research into opportunities for improving this area of ​​activity of the domestic banking system.

Keywords:
tools of the banking sector, investment activity, lending, refinancing rate, interest rate, profitability, stimulation.

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