Marketing determinants of the development of the investment market: innovations in the assessment of demand and supply (case study for the construction industry)

Abstract

The article is devoted to development of methodological bases of revitalization of functioning of the investment market. The basic marketing determinants for the development of investment market, including supply and demand of investment resources are defined as the main ones. It is established that the balance between supply and demand for investment resources, and constant desire to achieve this state leads to qualitatively new development of the investment market. The equilibrium point for investment resources and the optimum parameters of its achievements is determined in the construction industry of Ukraine as an example. Based on the study of the factors of influence of the supply and demand function for investment resources in construction, the appropriate corrective indicators are identified. Thus, the indicators that should form the coefficient of correction of the function of the offer of investment resources in construction are defined: the index of investment attractiveness; index of financial freedom; index of freedom of investment; inflation index (consumer price index); official exchange rate of hryvnia to US dollar; the total tax burden on business. For the function of demand for investment resources in construction, the integral indicator of the adjustment should consist of: the index “Working with construction permits”; (component of the index is ease of doing business); investment attractiveness index; index of inflation (consumer price index); the official exchange rate of hryvnia to the US dollar; total tax burden on business. The formation of the functions of supply and demand of investment resources in the construction of Ukraine has been carried out in the form of multiplicative distributive-lag, multivariate nonlinear regression, the effective rate of which is formalized by adapting the Minkowski metric. Optimization of equilibrium values of the factors of shaping supply and demand for investment resources in the construction has been carried out using the structural modeling, which provides the introduction of latent variables for the characteristics of the groups of explicit input indicators, the description the interdependencies between the factors of supply and demand in the form of systems of simultaneous linear pair and multiple regression equations.