МОДЕЛЬ ФУНКЦІОНАЛЬНОГО ЗВ’ЯЗКУ МІЖ ФІНАНСОВИМ КОНТРОЛІНГОМ ТА ІНВЕСТУВАННЯМ У СИСТЕМІ УПРАВЛІННЯ ПІДПРИЄМСТВОМ
FUNCTIONAL MODEL FOR INVESTMENT PROJECTS’ EVALUATION AND FINANCIAL CONTROLLING

Summary/Abstract: Financial literature proposes various methods for investments’ evaluation. However, solely all the above mentioned approaches are used to analyze investment projects showing their impact on company’s development, its value, reputation and competiveness. Drawing on previous theoretical research, this article empirically explores how investments’ evaluation and financial controlling correlate in the decision making process. Two principal findings have been proven and reported. First, we have exemplified how investments are analyzed and evaluated in financial controlling. Model of investment analysis in financial controlling has been proposed. Second, effect of investment projects’ evaluation using an example of investing into online-shop has been documented; an algorithm of decision-making in financial controlling has been written. The results show that use of only one method for investment analysis (e.g. decision tree) leaves many open questions in decision-making. Especially, such as: how implementation of the project influences business value, how sales increase after online-shop is being introduced, what is the payback period of the investments and whether there is a risk of sunk costs and management myopic.

• Details
• Contents