Multifactor Evaluation Model of Investment Attractiveness of an Enterprise

The analysis of investment attractiveness is important for investors, because this indicator minimise investment mistakes. There are many methods for assessing the investment attractiveness of enterprises, but there is no single universal generally accepted model. The aim of the research is to improve the existing models. The disadvantage of existing models is the emphasis on financial indicators, such as profitability, liquidity, asset turnover, etc., without taking into account the factors of investment attractiveness of a country and region, as well as indicators of attractiveness and dynamics of an enterprise. It is necessary to begin with the assessment of macro-parameters, and then proceed to the analysis of indicators that are directly related to the activities of an enterprise for a comprehensive, objective assessment. The novelty of the article is the development of a multifactor model for assessing the investment attractiveness of the organisation of any form of ownership, taking into account the characteristics of the state, region and industry, as well as a system of economic and non-economic indicators. Research of such indicators as: stability of the political situation in the country, national level of labour migration, stability of state currency, level of education and security in the region, ease of doing business, level of official salary, as well as indicators of financial condition of an enterprise, level of business reputation, make the technique complete and multiparameter. Also, the proposed set of indicators creates a universal method of assessing the investment affiliation of an enterprise. The methodology can be applied regardless of the form of ownership of the organisation, size and scope of activity. The method is described by the rating method for more objectively assess the investment attractiveness of enterprises. The scoring system of indicators facilitates the interpretation of the results.