Analysis of Macroeconomic Factors Affecting the Investment Potential of an Enterprise

Abstract

Purpose: The purpose of this article is the development of a model for optimizing the investment potential formation process for an enterprise based on the analysis of selected macroeconomic management factors. In the course of the study, it was decided to form four groups of macroeconomic indicators: indicators characterizing the overall development and efficiency of the Polish economy; indicators characterizing inflationary processes; indicators characterizing the dynamics of changes in the volumes of foreign and domestic trade of Poland; data that allow assessing the level of public debt and the state budget deficit of Poland. Design/Methodology/Approach: The research methodology is based on the use of the following methods: a descriptive statistics method; the method of grouping statistical data; the method of correlation analysis, as well as the regression analysis method. Findings: The results of the correlation analysis allowed to identify three factors that most affect the economic growth in the country and on this basis to develop a model for optimizing the investment potential formation process for an enterprise. Practical Implications: The model developed by the authors and the resulting rating of macroeconomic factors influencing the process of formation of investment resources can be the scientific rationale for the process of optimization and intensification of investment processes (development processes) in Polish enterprises. Originality/Value: The results of the correlation analysis allowed us to identify three factors that most affect the economic growth in the country and on this basis to develop a model for optimizing the investment potential formation process for an enterprise.

Determinants of Investments in Energy Sector in Poland

“…Research results are consistent with classical theoretical assumptions, in which the most significant determinants are related to energy sector conditions, government policies, market opportunities, and economic and business conditions [25]. However, the results indicate that investments in the energy sector in Poland are characterized by certain specifics that are rather typical for developing economies than for already developed and well-industrialized markets [26]. An important contribution of the article is also to highlight the differences in the determinants in investments of energy companies of different sizes [27].…”

“…The neoclassical growth models find investments are the most important factor for economic growth [25]. The research of Inessa et al [26] for Poland in the years 2005-2017 reveals that real GDP growth has the highest influence on the investment potential of enterprises. Woźniak et al [27] analyzed the impact of macroeconomic factors on investments in Poland in the years 2005-2018.…”

Relationships between Macroeconomics Indicators and Investments of Enterprises: Evidence from Poland

“…Many studies from abroad confirm relationships between these macroeconomic indicators (Dritsakis et al, 2006;Miarianas, 2007;Herreiras and Ortis, 2010;Tan and Lean, 2010). In the case of Poland, Inessa et al (2019) studied the macroeconomic factors affecting the investment potential of an enterprise. They conducted the correlation analysis that allowed to identify three indicators that influence the economic growth, the share of gross expenditure on non-current assets in the country's GDP for privately-owned business entities, investment growth rates in non-current and current assets of enterprises, and investment growth rates in non-current assets of companies.…”

Управління Дебіторською Заборгованістю Та Фактори Впливу На Її Якість

“…До факторів макросередовища відносять економічні (макроекономічні) та організаційно-правові фактори (Inessa, Artem, & Wielki, 2019)…”

“…Грошові агрегати та рівень монетизації внутрішнього валового продукту -це головні показниками, які характеризують рівень забезпеченості економіки коштами (Inessa, Artem, & Wielki, 2019). Низький рівень монетизації ВВП (нестача грошей в економіці держави) -одна з причин зростання простроченої дебіторської заборгованості, як показало дослідження цієї проблеми.…”