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Modeling of efficiency of investments in agrarian business

Samygin D.Yu. Penza State University, Penza, Russian Federation ( )

Keleinikova S.V. Saransk Institute of Cooperation, Branch of Russian University of Cooperation, Saransk, Republic of Mordovia, Russian Federation ( )

Journal: Finance and Credit, #7, 2018

Importance This paper raises the strategic problem of significant increasing the investment attractiveness of agricultural business. It is largely due to the lack of quality tools to support the making of investment decisions on agriculture.
Objectives The article aims to systematize investment tools, substantiate and develop strategic models for supporting investment decisions in agricultural business.
Methods This research involves the method of financial management and econometric models for assessing the effectiveness of investments.
Results The work constructs the functional dependence of the yield spread on invested capital in agrarian business. Considering the Penza oblast as a case study, we have carried out the necessary model and analytical calculations. The model shows the existing stimulus to invest capital in rural business and the potential for increasing the efficiency of investment in agricultural business.
Conclusions and Relevance It is expedient to use financial tools to justify the effectiveness of potential investments and visualize the return of invested capital to agricultural business. It will help adjust the current agricultural policy to attract additional financial resources to agriculture.

Diagnostics of regional agriculture's financial stability

Samygin D.Yu. Penza State University, Penza, Russian Federation ( )

Kirdyashkina Yu.A. Penza State University, Penza, Russian Federation ( )

Journal: Economic Analysis: Theory and Practice, #35, 2014

The article identifies the priorities of the national agriculture development at the present stage. The dominating priority is manufacturers' financial sustainability increase, which, according to the canons of the agrarian laws, should be characterized by a profitability level, a share of loss-making enterprises and outstanding debt amount. Such a position runs counter to the economic science, in particular, to the parameters of a financial analysis. The authors substantiate the need of introducing financial indicators, which are generally accepted in scientific and applied activities, into the practice of generating forecast figures for the State program of agriculture development. This will enhance the objectivity and transparency of decision-making while implementing the State program and achieving its goals, and contribute to the analytic function and interpretability of results of the State measures' efficiency assessment. The research data summary on the case of the Penza region enables to conclude on poor financial state of farms and their substandard financial indicators. The low level of agriculture's financial capacity indicates that the industry is financially unstable. The problem lies in resources, which are generally in the form of State support provided to financial instruments. This disrupts the structural integrity of measures taken under the State program. Therefore, as a planned course of modernization, it is advisable to analyze the entire range of problems related to creating necessary conditions for sustainable development of agriculture. In the long run, the management bodies of agro-industrial complex may use the analysis findings for developing a sound agricultural policy of the region.

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