Modern approaches and methods for assessing enterprise investment attractiveness

Анотація

The paper investigates the theoretical underpinnings of enterprise investment attractiveness, offering a comprehensive analysis of its conceptual foundations and methodological approaches. Investment attractiveness is understood as an integrative characteristic that reflects both the internal capabilities and external conditions determining an enterprise’s potential to secure and effectively utilise capital. The study begins by mapping out diverse definitions found in Ukrainian and international scholarship, emphasising the absence of a universally accepted interpretation and highlighting the multifaceted nature of the concept. It then categorises the drivers of investment attractiveness into internal factors – such as managerial competence, financial stability, human capital, and operational efficiency – and external factors encompassing macroeconomic stability, regulatory environment, market infrastructure, and socio-political conditions. Subsequently, key assessment methods are examined in detail. The expert appraisal method leverages specialist judgments to weight qualitative and quantitative indicators, while the rating method assigns scores to standard financial metrics to produce a comparative index. Integral evaluation condenses multiple parameters into a single coefficient, facilitating cross-company benchmarking, whereas comparative analysis juxtaposes firm-level data against industry averages. Matrix techniques (e.g., risk–return mapping) and profitability-risk “triangles” are considered for their strategic planning utility, and differentiated approaches are discussed for their ability to tailor criteria to specific operational domains. The paper argues that no single method is sufficient; rather, a hybrid framework that combines complementary techniques can yield more robust and context-sensitive insights. Finally, the research underscores the importance of aligning methodological choices with investor objectives, industry characteristics, and data availability. Practical recommendations are provided for implementing adaptive evaluation systems that enhance transparency, reduce uncertainty, and support informed decision-making. By integrating theoretical perspectives with applied tools, the paper contributes to the development of resilient investment strategies capable of navigating dynamic economic landscapes.

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