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Studying risk-reducing factors in investment project financing

Vol. 25, Iss. 9, SEPTEMBER 2019

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Received: 13 August 2019

Received in revised form: 27 August 2019

Accepted: 10 September 2019

Available online: 30 September 2019

Subject Heading: INVESTING

JEL Classification: G31, G32

Pages: 2167–2178

Khakhanaev U.S.-E. Chechen State University (CHSU), Grozny, Chechen Republic, Russian Federation

Subject The article discusses risk-reducing factors in investment project financing due to a new classification of risks developed specifically for investment projects, and presents the results of integrated analysis of risk reduction.
Objectives The aim is to undertake an empirical study of solutions to the new problem in investment project financing, i.e. to identify better financing options and maximize generated cash flows.
Methods The study employs the net present value method, the index method, comparative analysis, and time series analysis.
Results I developed my own version of risk classification. Risks are identified by group of affecting factors and described. The paper presents methodological recommendations for innovative approach to managing the investment project financing based on specified tools, namely, a catalog of risk-reducing factors in investment project financing. The recommendations enable informed investment decisions based on such criteria as the net present value, rate of return on investment, reasonable expenses for maintaining the investor’s economic potential.
Conclusions It is necessary to introduce a step-by-step process of forming a catalog of risk reduction factors, to use the recommendations on choosing alternative forms of investment project financing, applying the net present value criterion.

Keywords: investment project, financing, risk, cash flow, risk reduction


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