Abstract

The article is devoted to development of methodological bases of revitalization of functioning of the investment market. The basic marketing determinants for the development of investment market, including supply and demand of investment resources are defined as the main ones. It is established that the balance between supply and demand for investment resources, and constant desire to achieve this state leads to qualitatively new development of the investment market. The equilibrium point for investment resources and the optimum parameters of its achievements is determined in the construction industry of Ukraine as an example. Based on the study of the factors of influence of the supply and demand function for investment resources in construction, the appropriate corrective indicators are identified. Thus, the indicators that should form the coefficient of correction of the function of the offer of investment resources in construction are defined: the index of investment attractiveness; index of financial freedom; index of freedom of investment; inflation index (consumer price index); official exchange rate of hryvnia to US dollar; the total tax burden on business. For the function of demand for investment resources in construction, the integral indicator of the adjustment should consist of: the index “Working with construction permits”; (component of the index is ease of doing business); investment attractiveness index; index of inflation (consumer price index); the official exchange rate of hryvnia to the US dollar; total tax burden on business. The formation of the functions of supply and demand of investment resources in the construction of Ukraine has been carried out in the form of multiplicative distributive-lag, multivariate nonlinear regression, the effective rate of which is formalized by adapting the Minkowski metric. Optimization of equilibrium values of the factors of shaping supply and demand for investment resources in the construction has been carried out using the structural modeling, which provides the introduction of latent variables for the characteristics of the groups of explicit input indicators, the description the interdependencies between the factors of supply and demand in the form of systems of simultaneous linear pair and multiple regression equations.  

Keywords: demand, supply, equilibrium, investment resources, the construction industry

JEL Classification: С53, О11, E22.

Cite as: Chirichenko, Y., & Fisunenko, N. (2018). Marketing determinants of the development of the investment market: innovations in the assessment of demand and supply (case study for the construction industry). Marketing and Management of Innovations, 3, 81-94. https://doi.org/10.21272/mmi.2018.3-07

This work is licensed under a Creative Commons Attribution 4.0 International License

References

1. “Supply, Demand, and Market Equilibrium”. Retrieved from: http://www.egreene.k12.
2. Asaul A.N., Grahov V.P(2007). Integrativnoe upravlenie v investicionno-stroitelnoy cfere. [Integrative management in the investment and construction sector]. / pod redakciey Zaslujennogo stroitelya RF Asaula A.N. – under the editorship of the Honored Builder of the Russian Federation A. N. Asaula. 248.
3. Basilinska O. I (2004). Microeconomica: Navchalniy posibnik. [Microeconomics: Textbook]. Kiev: Centr navchalnoi literature, 351, [in Ukrainian].
4. Blank I. A. (2001). Osnovi investicionnogo menegmenta. [Fundamentals of Investment Management]. Kiev: Elha-N. [in Rassian].
5. Gatezh SA, Shmagina Yu.V . Problemi ta perspective rozvitku investiciynoujnogo rinku v Ukraine. [ Problems of formation and prospects of development of the investment market in Ukraine]. Retrieved from: http://www.rusnauka.com/2_ANR_2010/Economics/4_57537.doc.htm
6. Heyets V.M. (2006). Nestabilnist ta economichne zrostannya. [Instability and economic growth]. (p. 344). [in Ukrainian].
7.  Granin A.N. (2013). Marketing investiciy [Investment marketing]. (№ 1). (pp.185-189). Retrieved from: http://nbuv.gov.ua/j-pdf/drep_2013_1_39.pdf
8. Gritsenko, S.I. (2016). Rozvitok investiciynouj rinku v Ukraine. [Development of the investment market in Ukraine]. Proceedings from MIIM: Mizhnarodna naukovo-tekhychna konferentsiia–International Scientific and Technical Conference. (pp.56-57). Mariupol. [in Ukrainian].
9. Grontkovskaya G. E. (2008). Microeconomika. [Microeconomics]. Practicum:Navchalniy posibnik. Kiev: Centr navchalnoi literature, (Vol. 2), 418, [in Ukrainian].
10. Derjavna Slujba Statistiki. [State Statistics Service Ukraine]. Retrieved from: http://www.ukrstat.gov.ua/
11. Dickman L. G. (1998). Organizaciya I planuvannya budivelnogo virobnictva. [Organization and planning of construction production]. Kiev: Visha shkola.(p.588). [in Ukrainian].
12. Doroshenko O.H. (211). Rozvitok investiciynouj rinku – shlyah do pidvischennya konkurentnospromojnosti. [The development of an investment market – a way to increase competitiveness]. Retrieved from: file:///C:/ Downloads/development-of-the-investment-market-is-a-path-to-the-improvement-of-the-competitiveness pdf
13. Kirichok T.Yu (2013). Alhoritm rozvyazannya bagatokriterialnoi zadachi viboru pokaznika znoshuvannya banknot za dopomogoyu funkcii corisnosti. [Algorithm for solving the multicriterial problem of choosing the indicator of banknote wear using the utility function.]. Naukovi visti NYUU «KPI». (Vol.1), 68-75, [in Ukrainian].
14. Kobushko I. M. (2012). Strategia rozvitku investiciynogo rinku: teoretichni zasadi ta vitchiznyani realii. [Strategy of investment market development: theoretical foundations and national realities]. monografia. [monograph]. Sumy:Sumskiy Derjavniy Universitet, 517, [in Ukrainian].
15. Midler E.A., Hovhannisyan N. M. (2013). Investicii v aspekte marketinga: rinochnaya priroda, specifika marketingovih resheniy. [Investments in the aspect of marketing: market nature, specific marketing decisions]. Retrieved from: http://www.journal-nio.com/index.php?option=com_content&view=frontpage&Itemid=1
16. Moskvin, S. (2009). Investiciynij rinok Ukraine: peredumovi ta perspective formuvannya u konteksti svitovoi ta finansovoi krizi. [Investment Market of Ukraine: Preconditions and Problems of Formation in the Context of the Global Financial Crisis]. (№3). (pp.8-12). [in Ukrainian].
17. Nort D. (1997). Instituti, institucionalnie ismeneniya i funkcionsrovanie economici. [Institutions, institutional changes and the functioning of the economy]. Moskva: Nachala. (p. 180). [in Rassian].
18. Rumyantseva S. Misce Ukraini na investiciynomu rinku (2009). [Place of Ukraine in the investment market]. Securities of Ukraine. (№16). (pp.14-15). [in Ukrainian].
19. Shreibar A. K. (1987). Organizaciya I planuvannya budivelnogo virobnictva. [Organization and planning of construction production]. Kiev: Visha shkola.(p.368). [in Ukrainian].
20. Fisher S. (2001). Economica. [Economics]. Moskva: Delo. (Vol.2). (p.864). [in Ukrainian].
21. Socoluk K. U. (2013). Sutisna harakteristika ponyat «investicii» ta «investiciyni resursi». [Essential description of the concepts of “investment” and “investment resources”]. monografia. [monograph]. Uman. (pp. 154-159). [in Ukrainian].
22. Yastremsky O. (1998). Ocnovi microeconomiki. [Basics of microeconomics]. Kiev: Znannya, 674. [in Ukrainian].