METHODOLOGICAL ASPECTS OF CLASSIFICATION OF INVESTMENT MODELS APPLICABLE TO CONSTRUCTION PROJECTS
The paper covers the identification of basic investment models applicable to construction projects. They are needed to substantiate the transformation of the investment system, to identify the numerical values of the investment process, and to solve the problems that prevent the efficiency improvement of the investment system. As a result of the analysis, the authors have identified sixteen models that differ in the mode of investment, investment targets, types of investees, investors, investment sources, investment methods, investment schemes, repayment patterns, strategic goals, countries of origin, restrictions imposed on investment resources, payback patterns, investment period, economic system development, financing procedure, type of investment period alterations. The multiplicity and variety of investment models prevent us from performing a comprehensive comparative analysis; therefore, investment models are to be consolidated into classes that display higher-level systemic features. As a result of comprehensive comparison of existing investment models those models that are typical for the construction industry have been identified. They are (1) mid-term dynamic models, and (2) target-oriented models. Consideration of the two classes of features prevents us from preparing an exhaustive overview of the investment process. Therefore, as a result of research of the investment system structure its backbone element was identified. It represents an investment method that is the basic classifier. Thus, the basic classifier of an investment model is composed of three basic classificatory features, including the time, the investee, and the investment method. As a result, a credit investment model, a security investment model, a cooperative investment model, a project investment model, an economic investment model, a centralized investment model, a share investment model, and a combined investment model were identified.