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ИД «Финансы и кредит»






Finance and Credit

An original methodology for evaluating the effectiveness of the use of concession mechanisms based on the stakeholder theory

Vol. 27, Iss. 12, DECEMBER 2021

Received: 13 September 2021

Received in revised form: 29 October 2021

Accepted: 12 November 2021

Available online: 27 December 2021

Subject Heading: INVESTING

JEL Classification: E22, G11, H54, R42

Pages: 2807–2829


Vadim I. KHALIN Ural State University of Economics (USUE), Yekaterinburg, Russian Federation

ORCID id: not available

Subject. The article addresses the methodology for evaluating the effectiveness of the use of concession mechanisms based on the stakeholder theory in investment activities.
Objectives. The purpose is to develop methodological approaches to assessing the effectiveness of investment process financing, using the concession mechanisms.
Methods. I employ both general scientific methods of cognition and analytical, economic and statistical methods of information processing, based on the analysis of existing concession agreements.
Results. The study defines a methodology for evaluating the effectiveness of the use of concession mechanisms on the basis of the theory of stakeholders. It enables to determine the limits and prospects for investing private investor's funds, taking into account the evaluation rating scale.
Conclusions. The stability of investment activity is an important aspect. The analysis of the existing preliminary review of the current economic state of concession agreements revealed negative cause-and-effect relationships, which are associated essentially with the lack of awareness of the parties of successful implementation of investment projects. My unique methodology for evaluating the effectiveness of the use of concession mechanisms based on the stakeholder approach aims at solving the above-mentioned problem and increasing the efficiency of investment project financing through a preliminary project assessment. It can be used in investment activities, in particular, in preparing and implementing concession agreements in the housing and utilities sector, construction of social institutions and transport infrastructure facilities.

Keywords: concession agreement, investment, public-private partnership


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