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The Mechanism to Implement Environmental Investment Projects on the Basis of Equity Financing

Author

Listed:
  • Andrey Novoselov

    (Plekhanov Russian University of Economics)

  • Ivan Potravnyy

    (Plekhanov Russian University of Economics)

  • IRINA NOVOSELOVA

    (Moscow State Institute of International Relations (MGIMO University))

  • Katherine Yeshia Chavez Ferreyra

    (Plekhanov Russian University of Economics)

Abstract

The article deals with the problem of fair co-financing of socio-ecological and economic projects of a region, which is topical for the northern regions of Russia. At the same time, we solve the task of forming an optimal set of projects based on the fair sharing depending on the interest of business, state and society in the project implementation. In the process of analyzing the attractiveness of socio-environmental and economic development projects in a region, we have developed a scheme for solving this task. At the first stage, we recommend an expert assessment using the fuzzy scales developed by the authors. These scales allow to make a lexical assessment of the priority of criteria for assessing the development of a region and the degree to which the projects meet these criteria. In the second stage of calculations, the obtained expert assessments make it possible to determine a fair sharing in project financing. These shared assessments and project priorities allow developing a model of an optimal set of projects for the development of a region, taking into account the allocated financial resources. The system of expert assessments and models is implemented in the Excel-VBA program. This system has been applied to solve the problem of selecting social, environmental and economic development projects in the Russian Arctic regions.

Suggested Citation

  • Andrey Novoselov & Ivan Potravnyy & IRINA NOVOSELOVA & Katherine Yeshia Chavez Ferreyra, 2018. "The Mechanism to Implement Environmental Investment Projects on the Basis of Equity Financing," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1488-1497.
    • Handle: RePEc:ura:ecregj:v:1:y:2018:i:4:p:1488-1497
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    References listed on IDEAS

    as
    1. Carlton E. Lemke & Kurt Spielberg, 1967. "Direct Search Algorithms for Zero-One and Mixed-Integer Programming," Operations Research, INFORMS, vol. 15(5), pages 892-914, October.
    2. Aleksandr Kuklin & Maria Pecherkina & Alexander Tyrsin & Alfiya Surina, 2017. "Methodological Tools for the Detection of Risks to the Welfare of the Individuals and the Territory of Residence," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(4), pages 1030-1043.
    3. Mare Sarr & Joëlle Noailly, 2017. "Innovation, Diffusion, Growth and the Environment: Taking Stock and Charting New Directions," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 66(3), pages 393-407, March.
    4. Paula A. D’Onofrio & Inés García Fronti, 2013. "Relationships Between Stakeholders And Reports Using Fuzzy Relations," Fuzzy Economic Review, International Association for Fuzzy-set Management and Economy (SIGEF), vol. 0(2), pages 33-44, November.
    5. Irina Yurievna NOVOSELOVA & Andrey Leonidovich NOVOSELOV, 2016. "Estimation of Accumulated Environmental Damage Methods and Experience," Journal of Advanced Research in Management, ASERS Publishing, vol. 7(4), pages 619-624.
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    More about this item

    Keywords

    regional development; business; state; society; priority; optimization; project equity financing; project implementation costs; paired comparisons; financing constraints; maximization of overall priority;
    All these keywords.

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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