Classification and structure of investment

For the recording, analysis and more effective investment they need to be scientifically sound classification of both the macro and micro levels. A sound and scientifically justified in the classification of investment not only allows them to competently consider and analyze the level of their use on all sides and on this basis to get unbiased information to develop and implement an effective investment policy at both the macro and micro levels. Earlier in the planned economy in the Soviet literature and in practice was more common classification of investments in the following ways: on the basis of purpose of future objects in industrial construction, the construction of cultural and social institution, for the construction of administrative buildings in the survey and exploration, by forms of reproduction of fixed assets: for new construction, expansion and modernization of existing enterprises, the technical retooling, the sources of funding: decentralized to centralized, in the direction of use: for production, non-productive. With the transition to a market data classification has not lost its scientific and practical importance, but they were clearly inadequate. Note that investment - a more extensive concept than just capital investments. As you know, they include both real investment investment and portfolio. This classification did not take into account the investment portfolio, is also a transition to a market economy greatly expanded the ways and methods of financing both capital investments and investments in general, as well as the scope of their application. None of this is the place and is not reflected in the above classification. Of scientific and practical interest in the classification of investments that are in the foreign literature, and its generalization to the possibility of using domestic practice. For example, the German professor Vaynrihom proposed the following classification of investments relative to the object of their applications: investment in property (tangible investment) - Investment in buildings, equipment, supplies of materials, financial investments (purchase of shares, bonds and other securities); intangible investments (investment in training, research and development, advertising). In foreign literature, a classification of portfolio investments on the basis of influence and control of the firm, whose shares are purchased by the investor. Based on this criterion all portfolio investments are classified as: have a significant effect - the acquisition of more than 20% but less than 50% of the shares with voting rights to ensure control - ownership of the investor over 50% of the voting stock; not possible to establish control and no significant influence - possession of less than 20% of the voting stock; not possible to establish control, but have a significant effect - ownership of more than 20% but less than 50% of the voting stock, to ensure control - ownership of more than 20% but less than 50% of the shares of the parent company and 100% of the shares of the subsidiary. This classification, in our opinion, is important for the formation of the optimal structure of portfolio investment in the company. The most comprehensive classification of investments is disclosed in NA form, in which all investments are classified in the following ways: by embedding objects, the nature of participation in investment, the period of investment, ownership of investment resources, regional basis. In the literature, is often cited, and other investment classification. In our opinion, all these classifications have the right to life as a practical matter, but especially in science, as it allows more detail to provide investment and a deeper analysis in order to improve efficiency. But in the present conditions of these classifications is not enough. It seems that at the enterprise level is vital following classification of investments. The advantage of this classification to the previously discussed is that it gives a real idea for what purposes the company may allocate their investments. In essence, this classification is characterized by an investment portfolio company. Optimizing the portfolio to the minimum risk and maximum economic benefit is one of the major problems in the enterprise. Efficiency of investments largely depends on their structure. Under the structure of their investments are understood by species, and the direction of their share in total investments. Distinguish between public and private investment structures. The general structure of investment can be attributed to the real distribution and portfolio (kapitaloobrazuyuschie and financial). The total investment of the greatest proportion of kapitaloobrazuyuschie investment. Thus, in late 1996 already out of the total investment proportion kapitaloobrazuyuschih was 81.2%, and financial - only 18.8%. Let us consider in more detail some particular structure of capital investments. These include the following types of structures investments: technological, reproduction, sectoral and territorial. Technological structure of capital investments - this is part of the cost of construction of an object by type of costs and their share of the total estimated cost, ie, showing what proportion of capital investments in their total value is sent to the building and construction works (SMR) for purchase of machinery, equipment and installation, to design and survey and other costs. Technological structure of capital investments have the most significant impact on the effectiveness of their use. Improvement of this structure is to increase the share of machinery and equipment in the estimated cost of the project to an optimal level. In fact, the technological structure of capital investments generates the ratio between active and passive parts of the fixed assets of the future of the enterprise. Increasing the share of machinery and equipment, ie the active part of fixed assets of the future enterprise, helps to increase its production capacity and, consequently, reduce the capital investment per unit of output. Economic efficiency is achieved and by increasing the level of mechanization and automation of labor and reduction of quasi-fixed costs per unit of output. Analysis of the technological structure of capital investments is important both scientifically and practically. Under the reproductive structure of capital investments to understand their distribution and relation to the total estimated cost of the forms of reproduction of fixed assets. You can determine what proportion of capital investments in their total value is sent to: new construction, reconstruction and modernization of existing production, expansion of existing production, modernization. Improving the reproductive structure is to increase the share of capital investment in the reconstruction and technical re-equipment of existing production. Theory and practice suggests that the reconstruction and technical re-equipment is often more profitable than new construction, in particular because shortens the commissioning of additional production capacity and significantly lower the value of specific investments.