Financial Analytics: Science and Experience
 

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Introducing indicators of enterprise investment activities in financial stability monitoring

Vol. 12, Iss. 4, DECEMBER 2019

Received: 15 May 2019

Received in revised form: 31 May 2019

Accepted: 14 June 2019

Available online: 29 November 2019

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: E22, G31, G38

Pages: 404–417

https://doi.org/10.24891/fa.12.4.404

Ivanov V.V. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
viktor.ivanov@spbu.ru

ORCID id: not available

L'vova N.A. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
n.lvova@spbu.ru

ORCID id: not available

Abramishvili N.R. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
n.abramishvili@spbu.ru

ORCID id: not available

Parfenova M.V. Saint-Petersburg State University (SPbSU), St. Petersburg, Russian Federation
mvp97@mail.ru

ORCID id: not available

Subject The article addresses methodological approaches to financial stability monitoring. These approaches are mainly focused on the financial services industry. However, in the framework of the research, we consider non-financial companies (enterprises), since in this area of monitoring financial stability there are many urgent tasks that remain understudied.
Objectives The purpose is to prove the relevance of investment activity assessment in monitoring the financial stability of enterprises, identify necessary indicators, and show that the monitoring financial stability of such enterprises should not be limited to debt burden estimation.
Methods We review the best practices in monitoring the financial stability of companies operating in the non-financial sector; suggest recommendations for this area development on the basis of investment activity indicators; analyze the investment activity of Russian enterprises by type of economic activity, emphasizing the importance of industry aspects of monitoring.
Results The paper gives reasons for supplementing the system of indicators of enterprise financial stability by the volume of investment per capita, ratios of renewal and disposal of fixed assets by type of economic activities, return on assets ratios, indicators of the structure of investment financing. It is also important to consider industry trends in investment activity.
Conclusions The stability of financial system functioning is ensured by both the financial and non-financial sector of the economy, and their mutual influence should not be underestimated. Assessment of enterprise investment activities should become an integral part of financial stability monitoring. This determines new directions of fundamental and applied research.

Keywords: investment, investing activities, financial stability, financial stability monitoring

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