Efimova O.V.Financial University under Government of Russian Federation, Moscow, Russian Federation firstname.lastname@example.org ORCID id: not available
Importance The article addresses information and analytical support to the mechanism of financial and investment decision validation. Objectives I focus on identification and assessment of the impact of sustainable development factors on investment decision efficiency. Methods I analyze reports of companies recorded in the National Register for Non-financial Reports of the Russian Union of Industrialists and Entrepreneurs, Globalreporting.org global resource, the database of integrated reports registered on the website of the International Integrated Reporting Committee to identify best practices for disclosure of social, environmental and other non-financial information relevant to investment project evaluation. Results The paper substantiates the need to consider sustainable development factors in the investment decision valuation process and offers a comprehensive methodology to analyze the efficiency of investment projects based on requirements of parties involved. It helps integrate critical aspects of sustainability into the decision-making process. The findings may be used to develop analytical procedures for investment justification, taking into account relevant factors of sustainable development and associated non-financial risks. Conclusions The developed approach provides for an integrated assessment of factors of sustainable development that are significant for a particular investment project, a flexible mechanism for their integration into the process of investment decision preparation and validation, and recommendations on using the economic analysis tools and developing the evaluation criteria.
Robert K.W., Parris T.M., Leiserowitz A.A. What Is Sustainable Development? Goals, Indicators, Values, and Practice. Environment: Science and Policy for Sustainable Development, 2005, vol. 47, iss. 3, pp. 8–21. URL: https://doi.org/10.1080/00139157.2005.10524444
Barilenko V.I., Efimova O.V., Nikiforova E.V. et al. Informatsionno-analiticheskoe obespechenie ustoichivogo razvitiya ekonomicheskikh sub"ektov [Information and analytical support to economic entities' sustainable development]. Moscow, RUScience Publ., 2015, 160 p.
Altukhov K.V., Korotetskii I.V., Barsola I.S. [Integrated reporting: Bridging the gap between contents of corporate reporting and investors' expectations]. Auditorskie vedomosti = Audit Journal, 2014, no. 12, pp. 24–31. (In Russ.)
Barilenko V.I. et al. Analiticheskoe obosnovanie i monitoring khoda realizatsii programm modernizatsii proizvodstvennogo kapitala predpriyatii real'nogo sektora ekonomiki Rossii [Analytical validation and monitoring the industrial capital modernization programs in the real sector of the Russian economy]. Moscow, RUScience Publ., 2017, 170 p.
Efimova O.V. [Matrix approach to formation and information disclosure of resources in integrated reporting]. Auditorskie vedomosti = Audit Journal, 2017, no. 3, pp. 23–34. (In Russ.)
Artemova M.V., Efimova O.V. [Reporting about human capital and its development]. Ekonomika i upravlenie: problemy, resheniya, 2016, vol. 2, no. 5, pp. 171–175. (In Russ.)
Edvinsson L., Malone M. Intellectual Capital: Realizing Your Company's True Value by Finding Its Hidden Brainpower. Harper Business, 1997, 240 p.
Bulyga R.P. [Intellectual capital audit technique]. Auditor, 2014, no. 2, pp. 17–35. (In Russ.)
Lidzhieva M.G., Efimova O.V. [Information base for analysis of customer equity]. Ekonomika i upravlenie: problemy, resheniya, 2016, vol. 2, no. 5, pp. 176–181. (In Russ.)
Iznova T. Ways to Maintain Sustainable System of Managing Reputational Risks within Suppliers Relations. Review of Business and Economics Studies, 2013, iss. 1, pp. 67–77.
Iznova T. Study of Informational Requirements to Identify Reputational Risks. Review of Business and Economics Studies, 2014, iss. 4, pp. 51–61.