BUSINESS INFORM JOURNAL.

УКР

ENG

Search:

REGISTRATION CERTIFICATE

KV #19905-9705 PR dated 02.04.2013.

FOUNDERS

RESEARCH CENTER 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

Developing the Measures to Improve the Effectiveness of Regional Development Investment Projects
Kulyk D. Y.

Kulyk, Dmytro Ye. (2026) “Developing the Measures to Improve the Effectiveness of Regional Development Investment Projects.” Business Inform 8:131–138.
https://doi.org/10.32983/2222-4459-2026-8-131-138

Section: Investment Processes

Article is written in Ukrainian
Downloads/views: 0

Download article (pdf) -

UDC 332.146:330.322.5-042.3:[330.117:330.161]

Abstract:
The article examines the essence of regional development investment projects and identifies their role in ensuring the region’s socioeconomic development, thereby providing a rationale for the need to further develop management approaches to their implementation. The study explores the theoretical and methodological foundations of stakeholder-oriented and value-oriented approaches to managing stakeholder interaction and substantiates the conceptual provisions for the formation of a stakeholder-value approach as an integrated model for managing the interaction of stakeholders in regional development.It has been proved that modern management of stakeholder interaction in regional development investment projects requires moving towards a comprehensive approach that involves social, institutional, and value-based aspects of interaction, which further allows for aligning participants’ interests and improving the effectiveness of implementing regional development investment projects. An algorithm for stakeholder-value priorities in the implementation of regional development investment projects has been developed, combining stakeholder-oriented and value-oriented components of managing stakeholder interactions throughout the project life cycle, coordination and alignment mechanisms, and effectiveness. Measures are proposed to improve the implementation process of regional development investment projects within the framework of a stakeholder-value approach, with the aim of enhancing the efficiency of investment project management, strengthening the institutional capacity of public authorities, developing partnership-based interaction among all participants in the project process, and creating the conditions for ensuring sustainable regional development based on the alignment of interests and the joint creation of value. The practical significance of the results obtained lies in the opinion that the developed measures for managing stakeholder interaction can be used during the development and implementation of regional development investment projects to systematize and coordinate stakeholder interaction, identifying and preventing conflicts, and harmonizing interests and value orientations, which will contribute to improving the quality of managerial decisions, as well as the effectiveness and balance of regional development project implementation.

Keywords: investment projects; regional development; stakeholder-value-based management; values; reconciliation of interests; stakeholder engagement.

Fig.: 2. Bibl.: 19.

Kulyk Dmytro Ye. – Applicant, Department of Management and Administration, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

List of references in article

Alford J. & O’Flynn J. (2009). Making sense of public value: Concepts, critiques and emergent meanings. International Journal of Public Administration, 3–4(32), 171–191. https://doi.org/10.1080/01900690902732731
Behravesh S. A., Darnall N., Won No & Bretschneider S. (2025). How stakeholder influence shapes public sector environmental policy choices. Journal of Cleaner Production, 523, 146312. https://doi.org/10.1016/j.jclepro.2025.146312
Bei H. V. & Synychenko A. V. (2024). Tsinnisno-oriientovanyi pidkhid do upravlinnia rozvytkom pidpryiemstva [Value-oriented approach to enterprise development management]. Ekonomika ta suspilstvo, 63. https://doi.org/10.32782/2524-0072/2024-63-66
Chernychko T. V., Lintur I. V. & Bozhko V. I. (2023). Investytsiini proiekty sotsialno-ekonomichnoho rozvytku rehionu v umovakh detsentralizatsii [Investment projects of socio-economic development of the region in conditions of decentralization]. Mizhnarodnyi naukovyi zhurnal «Osvita i nauka», 2 (35), 360–366. http://dspace.msu.edu.ua:8080/jspui/handle/123456789/10313
Danylyshyn B. M. (2024). Management of spatial renewal and development of communities and regions of Ukraine: strategic priorities and the European vector. Regional Economy, 4 (114), 5–11. https://doi.org/10.36818/1562-0905-2024-4-1
Dream-analityka. Detali proiektiv [Project details]. https://bi.dream.gov.ua/archive/?select=_Language/[UK]/#/projects
Gretzinger S., Leick B. & Jebsen S. (2025). Engagement and Participation of Stakeholders in Regional Development Projects and the Emergence of Bridging and Bonding Social Capital. Management Revue, 2(36). https://doi.org/10.31083/mrev42871
Kabinet Ministriv Ukrainy. (2015, February 5). Pro zasady derzhavnoi rehionalnoi polityky: Zakon Ukrainy vid 05.02.2015 № 156-VIII [On the principles of state regional policy: Law of Ukraine dated February 5, 2015, No. 156-VIII]. https://zakon.rada.gov.ua/laws/show/156-19#Text
Krasnokutska N. S. (2012). Kontseptsiia tsinnisno-oriientovanoho upravlinnia potentsialom pidpryiemstva [The concept of value-oriented management of enterprise potential]. Aktualni problemy ekonomiky, 8 (134), 23–29.
Kulyk D. Ye. (2025). Steikkholdersko-tsinnisnyi pidkhid yak instrument transformatsii upravlinnia sotsialno-ekonomichnym rozvytkom rehioniv [Stakeholder-value approach as a tool for transforming the management of socio-economic development of regions]. Aktualni pytannia ekonomichnykh nauk, 14. https://doi.org/10.5281/zenodo.16938178
Lozynska T., Birchenko N., Piskun A. & Dengub V. (2024). Investment and Infrastructure Development Projects in Public-Private Partnerships in Ukraine. Economics Ecology Socium, 4(8), 53–65. https://doi.org/10.61954/2616-7107/2024.8.4-5
McTaggart J., Kontes P. W. & Mankins M. C. (1994). The value imperative: managing for superior shareholders returns. New York: Free Press.
Mitchell R. K., Agle B. R. & Wood D. J. (1997). Toward a theory of stakeholder identification and salience: defining the principle of who and what really counts. Academy of Management Review, 4(22), 853–886. https://doi.org/10.2307/259247
Nguyen T. S. & Mohamed S. (2020). Mediation Effect of Stakeholder Management between Stakeholder Characteristics and Project Performance. Journal of Engineering, Project, and Production Management, 2(11), 102–117. https://doi.org/10.2478/jeppm-2021-0011
Pauna T., Lehtinen J., Kujala J. & Aaltonen K. (2023). The role of governmental stakeholder engagement in the sustainability of industrial engineering projects. International Journal of Managing Projects in Business, 8(16), 77–99. https://doi.org/10.1108/IJMPB-09-2022-0197
Savkov R. & Karvatska N. (2024). Upravlinnia vzaiemodiieiu steikkholderiv sotsialnykh proiektiv [Stakeholder interaction management of social projects]. Theoretical and empirical scientific research: concept and trends. https://doi.org/10.36074/logos-16.08.2024.014
Sebhatu S. P. & Enquist B. (2022). Values and Multi-stakeholder Dialog for Business Transformation in Light of the UN Sustainable Development Goals. Journal of Business Ethics. https://doi.org/10.1007/s10551-022-05195-x
Seek A. M. A., Teslenko P. & Bielova O. (2019). Value-oriented management approach as a source of risk. Vcheni zapysky Universytetu «KROK», 3 (55), 128–133. https://doi.org/10.31732/2663-2209-2019-55-128-133
Suvvari S. K. & Saxena V. D. (2023). Stakeholder management in projects: strategies for effective communication. Innovative Research Thoughts, 9 (5), 188–201. https://doi.org/10.36676/irt.v9.i5.1479