Identifying the Factors Affecting Investments of Russian Companies

The purpose of this study is to analyze the impact of factors on the investments of Russian companies in the manufacturing sector using econometric methods based on the data of the research project “Factors of Competitiveness and Growth of Russian Manufacturing Enterprises” implemented in 2018 within a framework of the Basic Research Program at the National Research University Higher School of Economics (HSE). After analyzing the literature sources, a number of significant factors identified by the authors were identified and their own research was conducted, including the construction of a binary choice model and the calculation of marginal effects for significant factors on a sample of Russian companies. The results of the study demonstrate the peculiarities of the influence of factors on the investments of Russian manufacturing companies. The most significant factors affecting the investment of companies and some features of investment activity in Russia are identified. The results obtained will be useful for both private investors and public institutions.