УДК: 330.34

DOI: https://doi.org/10.36887/2415-8453-2021-4-1

Doctor of Economics, Professor of the Department of Management, Administration and Hotel and Restaurant Business of Khmelnytsky National University
Doctor of Economics, Professor of the Department of Management, Administration and Hotel and Restaurant Business of Khmelnytsky National University
Vyacheslav BILAN
Master of Khmelnytsky National University
PhD, Associate Professor of the Department of Marketing and Trade Enterprise of Khmelnytsk National University
PhD, Associate Professor of Economic Theory of Khmelnytsky National University

JEL classification: E22


The terminological basis of investment management is considered in the article, the approaches of scientists to the interpretation of the term “investment” are defined and generalized. The article presents the views of various scholars on the interpretation of the term “investment”, so most authors understand investment as investing capital in all its forms in various objects (instruments) of its economic activity for profit and other economic or social effects, implementation of which is based on market principles and is related to factors of time, risk and liquidity. Based on the existing approaches, the proposed definition of investment is a set of all values that are invested in various objects of business and other activities in order to increase them and / or achieve a certain goal (effect). The article presents the interpretation of investments by the following groups: the totality of all types of values, investment of capital / resources / money, the method of capital allocation, the cost of creation. The classification of investments is carried out and the main features of classifications of investments are analyzed. It is established that the institutional structures of most countries lag far behind the pace of digitalization of markets and therefore cannot fully perform their regulatory functions, which creates a chaotic development of both markets and the main instruments of such markets. It is noted that money laundering and the implementation of shadow capital schemes are only a part of illegal transactions through the use of cryptocurrencies and other financial instruments. Prospects for further research in the subject area are identified.

Keywords: investments, classification of investments, tools, theoretical bases, digital economy.


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The article was received 06.10.2021