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ДОДАТКИ

Додаток А (обов'язковий) Огляд спеціальної зарубіжної літератури (іноземною мовою) The review of the literature

International investment processes make a main part of economic stabilization in world economy. Therefore knowledge of basic postulates of the theory international investment processes is necessary for each expert in economy. The problems of international investment activity in particular are staticized today in conditions of globalization of economic arrive. Just development and system transformation of modern investment processes form global competitive environment. Therefore it is extremely important to investigate conditions of formation, moving and use of global investment resources.

It is possible to divide foreign literature, in which the investment processes are considered, on some groups.

So, some sources are devoted to problems of globalization of economic processes and in this context consider problems of implementation of the direct foreign investments, making an emphasis on empirical research of these processes. As an outcome, because of revealed tendencies and examples of development of separate countries the recommendations, script on implementation of the direct investments in the different forms are given, the modes of an investment in different countries are considered, are formed ratings of countries on a criterion of favourability of an investment climate, attractiveness of branches of economy.

The large attention is given to a role of TNC - as widespread form of implementation of the direct investments in large scales.

Modern diversificate international investment activity is the powerful factor of economic arrives. The special place of the international investments in a world economic system is based on many factors, most significant from which is:

Mobility of all factors and, first of all, capital;

The large-scale and dynamic development of internationalization processes, which fundamentals is made by heavily investment activity;

Dominance in an international division of labor of industrial and scientific and technical cooperation, which efficiency depends on;

TNC;

The formation and development of international integration group, within the framework of which free motion of the goods, services, labor provides also free motion of the capitals.

Depending on a degree of maturity of national economy, level it integration in global economy the motivation and policy concerning the investments abroad and of foreign investments is formed.

All growing internationalization of global development by a radical image changes volumes both character of motion of the factors and outcomes of production, makes global a core of economic activity. Just investment globalization influences on steps of all countries and regions of the world, forms qualitatively new environment of economic development.

The authors carry out the analysis on substantial literary and facts, with allowance for of positive and negative influences of globalization on economic of realities of operation national economies of developed countries, developing countries, and countries, which are in a condition of market transformation.

To such sources it is possible to relate:

International business: external environment and business operation Daniels John D., Radeba Lee H.

The Lexus and the Olive Tree : Understanding Globalization
by Thomas L. Friedman

A Future Perfect : The Challenge and Hidden Promise of Globalization
by John Micklethwait, Adrian Wooldridge

The next group of sources is devoted to theoretical aspects of investment. But the investments on a criterion of the control of the investor behind object of an investment are divided on direct and portfolio, in these works both kinds of the investments are considered, the in-depth characteristic of the forms, methods of their implementation and regulation is given. Some theoretical problems have debatable character. In particular it concerns priorities of development of economy and paths of activation of investment process.

Knowledge of basic postulates of the theory international investment processes is necessary for each expert in economy. In this connection the given books were developed for the readers, which have theoretical knowledge of economy. The specificity of the books is the specific form of a presenting the material - as the schemes, tables, and schedules with the comments.

The books grant definition of basic concepts, gives their classification, structure. In the books, forms, kinds, tendencies of development of international investment processes, motivation of the direct partners, elements of an investment climate and demotivators of investment activity in international economy are considered as all composites international investments.

The books are convenient for learning the theory of the international investments

To this group belong:

Dictionary of Finance and Investment Terms (Barron's Financial Guides)
by John Downes (Preface), et al

Home Buying for Dummies (For Dummies) by Eric Tyson, Ray Brown

The Master Swing Trader: Tools and Techniques to Profit from Outstanding Short-Term Trading Opportunities by Alan S. Farley

Stock Options: Getting Your Share of the Action: Negotiating Shares and Terms in Incentive and Nonqualified Plans by Tom Taulli, Bruce Brumberg

The Warren Buffett Way : Investment Strategies of the World's Greatest Investor by Robert G., Jr Hagstrom, Peter S. Lynch (Preface)

Wall Street Words : An Essential A to Z Guide for Today's Investor by David Logan Scott

Stocks for the Long Run by Jeremy J. Siegel, Peter L. Bernstein

The following group is issuings devoted to practical implementation of the investments. In such works are investigated as theoretical problems of engaging of the capital for an investment and practical gears of development of production of the enterprises and companies by an investment.

From the practical party there is generalized global and domestic experience of investment policy of firms and companies rather:

-- Reforming the relations of the property and creation of economic companies;

-- Partnership relations with banks and financial-credit institutions;

-- Extension conventional and introduction of new financial tools of an investment of production;

Portfolio of an investment and management of investment portfolios, behavior of the investor in the share market;

The strategies of implementation of the investments;

Pro and contra of the different forms of the investments;

Methods of an evaluation of investment climate;

Development of the strategy of implementation of the investments.

The substantiation of expediency investment, definition financial, budget and economic efficiency of investment costs calculation of life cycle of the investments and budgeting of the capital. These techniques should be applied to alternative calculations at a decision making and can be useful at the substantiation business - plan of the investment projects.

The large attention is allocated to a stage of capitalization of the investments, that is features of pricing and designing in an investment sphere, conclusion of the agreements between the participants of investment process, processing of the estimates of financing of the projects, acceptance of objects in operation and calculations for executed activities.

The exit of firms on the external markets is connected to preliminary formation of a lot of systems of acceptance of the administrative solutions. External environment is specific environment, which actuates a lot of the factors, on which the firm has minor influence. For this reason their detail study, constant monitoring and development of specific operations on existence in a certain economic climate is necessary. The given works are the theoretical allowance for study of economic environment and development of the detailed strategies of an exit on the external markets.

The investment process is not finished by introduction of object in an operation, and proceeds while in service through an investment, renovation and technical requirement, developments of production and gain of new seller's markets.

In the books the most significant characteristics of processes of an investment in a national economic system are illuminated, the research of paths and forms of investment interaction at international and global levels is carried out. As interconnected also are structural nationalities, international and global financial and investment markets are considered.

Scientific and practical interest has generalization rather: an investment climate, systems of an evaluation and monitoring; exchange share both structures, operations; macro and micromodels of optimization of investment processes.

Rich Dad's Guide to Investing : What the Rich Invest in That the Poor and the Middle Class Do Not by Robert T. Kiyosaki, Sharon L. Lechter
See picture Make Your Own Living Trust (Make Your Own Living Trust, 4th Ed)
by Denis Clifford, Mary Randolph

Rites of Passage at $100,000 to $1 Million+: Your Insider's Lifetime Guide to Executive Job-Changing and Faster Career Progress in the 21st Century
by John Lucht

How to Make Money in Stocks : A Winning System in Good Times or Bad
by William J. O'Neil (Preface)

Winning the Loser's Game: Timeless Strategies for Successful Investing
by Charles D. Ellis

Smart Couples Finish Rich : 9 Steps to Creating a Rich Future for You and Your Partner by David Bach

The Millionaire Next Door : The Surprising Secrets of America's Wealthy
by Thomas J. Phd Stanley, William D., Phd Danko

Buy and Hold : 7 Steps to a Real Estate Fortune by David Schumacher

The Intelligent Investor : A Book of Practical Counsel by Benjamin Graham, Warren E. Buffett (Preface)

The Unofficial Guide to Real Estate Investing by Spencer Strauss, Martin J. Stone

Concerning Ukraine, in the foreign literature there are articles devoted to the review and the analysis of the macroeconomic tendencies, structure of the investments, investment climate of country, legal and institutional framework for foreign investment in Ukraine. Such publications serve an information source for the investors wishing to invest in economy of Ukraine. And the articles of the independent experts or international organizations present a broad spectrum of economic parameters of development of a national economy, describe legislative base regulating investment processes, grant the recommendations concerning improving an investment climate.

Тhe particular recommendations of rather selective regulation of the foreign investments, optimization of their volumes and structure, localization of a favorable investment climate is given. It is proved, that only through an effective utilization of own and international investment resources it is possible to create conditions for withdrawal from crisis and to put in pawn fundamentals for reaching international competitiveness of economy of Ukraine. An example can be the publication OECD that is accessible to each by means of arrangement it on the site of organization in Internet. Precisely also, it is possible to meet articles of similar character concerning other countries.

In majority of countries with transforming economies the effectively used foreign investments become the key factor of development of these countries, and of the investment abroad assists their organic integration in global economy. It is clear, that the international investment takes an outstanding place and in a structure of priorities of economy of Ukraine.

The domestic science officers try to justify national investment priorities, to find the operational gears of engaging and effective utilization of the foreign of investments. However scales and level of scientific processing of investment problems of economic development of Ukraine remain insufficient. In practice it has resulted in absence of significant methodological influence on an investment situation.

As a whole analysis of development of researches of modern investment processes testifies to necessity and capability of certain transformation of elements of their theoretical base concerning procedures of practice on the basis of a system approach and modeling.

Додаток Б (обов'язковий)

Анотація магістерської дипломної роботи (іноземною мовою) THE SUMMARY

Degree work - « Efficiency of investment activity in the international business » - 120 pages, 6 tables, 32 figures, list of the literature from 78 names, 12 applications on 56 pages.

The object of degree research is activity of the metallurgical enterprise OJSC «Interpipe NPE» - one of the enterprises of the financial and industrial group FEG "Interpipe", which is under the direction of the foreign investor «Interpipe Limited» («the offshore zone» - republic of Cyprus).

The subject of degree research is the analysis of sources the investment means and technology of foreign investment in the controllable enterprises of a metallurgical cycle in territory of Ukraine from the main centre of management FEG "Interpipe" - the firm " Interpipe Limited" («the offshore zone» - republic of Cyprus).

The purpose of degree research is a rating of efficiency the international foreign investment as important source of development and updating of capital base in an industry of Ukraine with introduction of new technological processes for release the competitive production in the world(global) market in conditions after the introduction the Ukraine in WTО and development in conditions of economy « of an open type ».

Tasks of degree work:

1. In the first section of degree work to execute research theoretical essence and kinds of the investments in the international business.

2. In the second section of degree work to lead the analysis of efficiency the investment activity of the international financial and industrial group "Interpipe" by results of activity in territory of Ukraine of the enterprise - OJSC « Interpipe NPE» in 2005 -2008 years.

3. In the third section of degree work to develop the offers on ways of preservation the growth of foreign investment by the international business of economy of Ukraine in conditions of consequences of global financial crisis the 2008 year.

The scientific novelty of the received results of degree research consists that at research of activity of real financial and industrial group "Interpipe" is revealed:

- the discontable level of the pure profit of the foreign investment which has been brought in by the founders, makes 75,5 % from a level of the investments for 2003 -2008 years, that is the investment for 6 years still itself has not paid back;

- the international investment activity in Ukraine during independence is "curved" and uses as a basis the not economically justified international movement of the capital, bat the Ukrainian system of legislative tolerance and state protection of foreign "pseudo-investments", which actually there are criminal deduced in «the offshore zone» capitals of the Ukrainian and Russian origin, and also not returned proceeds from export activity the controllable enterprises of the financial and industrial groups in territory of the Ukraine.

The practical value of the received results of degree research consists in the offer of development updating the Law of the Ukraine «About modes of foreign investment », stopping activity on buying up the objects of economy in Ukraine from «the offshore zone» with the help by the "criminal" capitals, not legalized in Ukraine, of a unknown origin.

Year of performance of degree work - 2008 - 2009

Year of protection of work - 2009