BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS of Ukraine (KHARKIV, UKRAINE)

ROR

EDRPOU 05481984

According to the decision No. 802 of the National Council of Television and Radio Broadcasting of Ukraine dated 14.03.2024, is registered as a subject in the field of print media.
ID R30-03156

PUBLISHER

Liburkina L. M.

CATALOG

The Theoretical and Conceptual Principles of Forming an Enterprise Development Investment Strategy
Klymash N. I.

Klymash, Nataliia I. (2026) “The Theoretical and Conceptual Principles of Forming an Enterprise Development Investment Strategy.” Business Inform 2:120–129.
https://doi.org/10.32983/2222-4459-2026-2-120-129

Section: Investment Processes

Article is written in Ukrainian
Downloads/views: 1

Download article (pdf) -

UDC 330.322:334.72

Abstract:
This scientific article is devoted to a comprehensive study of the theoretical and conceptual principles of forming an investment strategy for enterprise development under conditions of systemic transformation of the modern economy and increasing uncertainty in the external environment. The relevance of the study is substantiated by the need to find new tools to ensure the viability of economic entities amid military aggression, financial instability, technological shifts, and structural imbalances. It is demonstrated that the investment strategy is a key instrument for long-term enterprise resilience, as investment decisions have a delayed effect over time and shape the development trajectory of an enterprise for an extended period. The study substantiates that moving from fragmented decisions to systematic management of investment development allows alignment of strategic goals with actual resource constraints and the level of risk. A structurally logical algorithm for developing an investment strategy has been created, which reflects the step-by-step logic from assessing internal potential and diagnosing the external environment to monitoring and strategically adjusting investment decisions. The article performs a decomposition of the integral strategic goal into a system of measurable intermediate objectives, among which the core ones are ensuring financial stability, the quality of the investment portfolio, innovation and technological renewal, and alignment with the principles of sustainable development. The proposed approach involves implementing adaptive solutions that neutralize the destructive effects of uncertainty and ensure long-term growth of the enterprise’s market value. It is concluded that the modern investment strategy transforms into a flexible adaptive management system, where the enterprise’s ability to withstand macroeconomic and security shocks becomes a key factor.

Keywords: investment strategy, strategic goal, intermediate goals, algorithm for building an investment strategy.

Fig.: 1. Tabl.: 1. Bibl.: 20.

Klymash Nataliia I. – Candidate of Sciences (Economics), Associate Professor, Candidate on Doctor Degree, Department of Economics and Enterprise Finance, State University of Trade and Economics (19 Kіoto Str., Kyiv, 02156, Ukraine)
Email: [email protected]

List of references in article

Blank I. O. & Huliaieva N. M. (2003). Investytsiinyi menedzhment: pidruchnyk [Investment Management: Textbook]. Kyivskyi natsionalnyi torhovo-ekonomichnyi universytet.
Boiarko I. M. & Hrytsenko L. L. (2011). Investytsiinyi analiz: navch. posib. [Investment Analysis: Study Guide]. TsUL.
Bulkot O. V. (2019). Mizhnarodni investytsiini stratehii transnatsionalnykh korporatsii [International Investment Strategies of Transnational Corporations]. Biznes-navihator, 4, 16–21. http://nbuv.gov.ua/UJRN/bnav_2019_4_4
Duka A. P. (2007). Teoriia i praktyka investytsiinoi diialnosti. Investuvannia: navch. posib. [Theory and Practice of Investment Activity. Investing: Study Guide]. Karavela.
Fedorenko V. H. & Hoiko A. F. (2000). Investoznavstvo: pidruchnyk [Investment Science: Textbook]. MAUP.
Frolova T. O. (2012). Investytsiini korporatyvni stratehii v umovakh hlobalizatsii: monohrafiia [Investment Corporate Strategies in the Context of Globalization: Monograph]. KNEU.
Graham B. (2010). The Intelligent Investor. Posts & Telecom Press.
Khrystenko O. A. & Kertychak V. M. (2023). Vyznachennia investytsiinoi stratehii rozvytku pidpryiemstva v umovakh kryzovoi ekonomiky [Determining the Investment Strategy of Enterprise Development in a Crisis Economy]. Modern Economics, 41, 141–146. https://doi.org/10.31521/modecon.V41(2023)-20
Kozachenko H. V. (2004). Upravlinnia investytsiiamy na pidpryiemstvi: monohrafiia [Investment Management at the Enterprise: Monograph]. Libra.
Liakhovych L. A. (2011). Investytsiina stratehiia pidpryiemstva v kryzovykh umovakh hospodariuvannia [Investment Strategy of the Enterprise in Crisis Economic Conditions]. Stalyi rozvytok ekonomiky, 1, 167–171. https://api.dspace.wunu.edu.ua/api/core/bitstreams/8b966bd3-9507-4c6f-a63b-6fab6df11d6b/content
Maiorova T. V. (2004). Investytsiina diialnist: navch. posib. [Investment Activity: Study Guide]. Tsentr navchalnoi literatury.
Markowitz H. (1952). Portfolio selection. The Journal of Finance, 1(7), 77–91. https://doi.org/10.1111/j.1540-6261.1952.tb01525.x
Peresada A. A. (2002). Upravlinnia investytsiinym protsesom: monohrafiia [Management of the Investment Process: Monograph]. Libra.
Savchuk L. M. & Cherep A. V. (2019). Teoriia ta metodolohiia formuvannia investytsiino-finansovoi stratehii rozvytku sub‘yektiv natsionalnoho hospodarstva: monohrafiia [Theory and Methodology of Forming an Investment and Financial Strategy for the Development of National Economic Entities: Monograph]. Zhurfond.
Sharpe W. F. (1964). Capital asset prices – A theory of market equilibrium under conditions of risk. The Journal of Finance, 3(19), 425–442. https://doi.org/10.1111/j.1540-6261.1964.tb02865.x
Shiller R. J. (2016). Irrational Exuberance: Revised and Expanded Third Edition. Princeton University Press.
Tokmakova I. V. & Darahan O. O. (2013). Sutnist ta pidkhody do formuvannia investytsiinoi stratehii na pidpryiemstvakh zaliznychnoho transporty [Essence and Approaches to the Formation of Investment Strategy at Railway Transport Enterprises]. Visnyk ekonomiky transportu i promyslovosti, 43, 189–193. http://lib.kart.edu.ua/bitstream/123456789/8851/1/Tokmakova.pdf
Trydid O. M. (2011). Rozrobka investytsiinoi stratehii pidpryiemstva yak napriam zabezpechennia yoho investytsiinoi pryvablyvosti [Development of the Enterprise Investment Strategy as a Way to Ensure Its Investment Attractiveness]. Upravlinnia proektamy ta rozvytok vyrobnytstva, 1, 94–101. http://nbuv.gov.ua/UJRN/Uprv_2011_1_17
Voronka O. Z. & Shevchenko N. V. (2025). Formuvannia investytsiinoi stratehii v umovakh kryzovykh sytuatsii dlia zabezpechennia innovatsiino-bezpekovoho potentsialu pidpryiemstva [Formation of Investment Strategy in Crisis Situations to Ensure the Innovation and Security Potential of the Enterprise]. Aktualni pytannia ekonomichnykh nauk, 14. https://doi.org/10.5281/zenodo.16971013
Zapotochnyi V. I. (2012). Investytsiina polityka yak osnovnyi etap bankivskoho investytsiinoho protsesu [Investment Policy as the Main Stage of the Banking Investment Process]. Naukovyi visnyk NLTU Ukrainy, 22.9, 201–206. https://nv.nltu.edu.ua/Archive/2012/22_9/201_Zap.pdf