Effective opportunities for media investments. Sources is that investments come in the objects of industrial and other activities, especially in the first form of cash. Past the last of their investments can be provided in different ways. The easiest way is in the case when subjected to industrial management and has done the defined media for the expansion and improvement of production and used for the creation of industrial objects. The economies of the same type of people that the activities start with their own savings to invest.
Although in some cases, turning the savings into investments is a difficult process. The fact is that most of the population is not possible to make direct investments in the production, has these opportunities because of the company’s management must be and, of course, have certain minimum amount for this or that reason. Part of the profits of the company was not converted into investments.
For the present, one of the two sides are the people and some companies are free sources of cash, otherwise have to own, many companies additional funds to achieve investment program. Transmission of the sources is through the channels of financial market, where owners cash media seem to be the distributor of investment capital and the people be done, the sources of income – to consumers.
Basic channels for the transmission of liquidity, traders and consumers. Depending on the transfer of cash is from the provider to consumers, we can point out two basic channels in the financial market. First, the market for bank loans. Banks accumulate temporarily free cash through the legal and natural persons. Of course, wage increases in the flow and defined later sources give credit to borrowers (for those that provide real investment) high figure. Therefore, the process of money from the owners, the borrower with a bank is done.
In many cases, the transfer of liquidity, the answers to the interests of the owner. Although the latter has very little percent of the bank, but what he / she avoids the risk of not again the money to the borrower. Apart from security, high payroll bank deposits, the depositors their sheer numbers and the investment of money can be accessed, even for small depositors (the owner of the savings).
The bank pays very little done on depositors per cent compared with the borrowers, it is natural that the trader wants the capital invested in exactly the relationship to these debtors.
As consumers of capital (borrowers), it is an advantage, they direct contact with dealers. The fact is that bank loans will often get followed by great difficulties. For example, which are often not paid on permanent loan to the bank, which is for the borrower, not the bank the full amount requested by the borrower to carry out major projects and so on. All these lead us to the realization of great attraction of the free sources of cash together with bank credit by the consumer of capital in other ways – by issuing securities.
Somehow this way serves the interests of providers of investment resources and their consumers. Distributors of resources (the owners of deposits) are often able to invest their resources in a position of relative advantage, then, bank deposits and for a longer period. Very simple procedure to locate the sources in the form of purchase and sale of securities. Even if the values are characterized by very high liquidity, investors can invest the sale lost sources of eigenvalues, if necessary.
From the perspective of the issue of investment resources, the consumer has a priority value relative to bank loans. Hey (consumers of capital) is the possibility of sources of cash flow given by many of the distributors of capital and earn a lot of money. In addition, the influx sources for a long time, sometimes indefinitely, if the case relates to the securities.
So, the bank credit market and stock market in the modern conditions of the rings appear to be necessary for the investment process, the base areas, with the help of savings and investments to develop the habit of production.
As already mentioned, to separate the objects of capital investments on real investment, given financial and intellectual (5 drought. 7th). In real investment related to the placement of resources (capital) in the creation of property (eg materials, such as intangible) that are in contact with the implementation of operational activities of the company, the salvation of their socio-economic problems. In financial investment associated with the use of capital in different financial instruments, particularly in the securities field.
The financial assets are either speculative or investment oriented long call. You acknowledge that the nature of the localization of the sources of financial investment in shares and securities, and deposits a bank loan.
Financial investment oriented long known locations of the sources is to be the strategic objectives for the participation in the management of the object of the investor, in which capital is invested in context.
fictitious capital. The concepts of real and financial investments in close contact with the real and fictitious capital. The economic literature in general, the values in the fictitious capital. Real capital is placed in the production and uses the values for the title, representing the capital. Financial capital, “the capital that is in the face of values available bring benefits to the owner. Unlike physical capital, which is placed in various areas of industry, ie a fiction no intrinsic value and is not taken into account that real wealth, why not a role in process of capitalist production. and accordingly we consider the following: for each owner-Separated Values (notional capital) are valuable, it takes you completely real income. Although, do not represent the point of view of social capital values are the real wealth. Growth or reduction of the operational value of values in the society can be independent of physical capital may occur. Accordingly, the levels appear to fictitious capital.
real capital of the Company at the expense of investment in real assets, while the fictitious capital can be increased without financial investment, issued to the detriment of course, the value of the collateral before. A significant example of the growth process of fictitious capital, the process of issuing securities denominated is produced. Here to take account of Don actual investments, but there are rights on securities already made or issued before the purchase. In this case, the financial investment by the growth of the real capital of the company are upheld.
Although, in our view, this question is not as easy as it sounds. The fact is that the growth of the field of action is not for himself, but the fact that the effectiveness of the growing use of real capital. The continued growth of the value of the shares of the company expressed that the market is too high an estimate of the company.
So that we can make a conclusion that fictitious capital is not a real wealth is the marketing of the estimate of the real capital of the Company given at any time. Suppose you have two companies with real assets absolutely identical, although a company uses these assets better and more efficient. Sure, of course, that the value of the shares of this company is higher, then the other. Therefore, the notional capital is not cultivated, but expresses the position of the real capital. Size of the notional capital is nothing more than the market value of real capital, the title of the fictitious capital is considered.
Therefore, it is difficult to agree with this “fictitious capital acts no role in the production of additional capital.” Securities (fictitious capital) play an important role in production, while the savings in investments. A fictitious capital (securities), this income for their owners. Just the desire for profit makes the owners of the sources of savings to invest in securities. The issuerare of the acquisition for the creation and use of property collected, thus increasing the volume of production takes place.
Movement of financial assets reminds us of the movement of the debt. When K. Marx has shown us in the process of movement of capital and the amount of the loan Capital One seems to be the degree of capital-owners and the role of the capital. The income of the capitalists is functional divided into two parts – the percentage of loans and income of workers. Under the conditions of the poor development of the free Capital Corporation was put into production in the form of loans. Real investment in production at the expense of their own and working capital loans from capitalists.
By the conduct of the anonymous nature of the company’s investment process has changed significantly. In this case, refer to the company, the real investment at the expense of their own sources (profit can indivisible) or deliberately to the detriment of bank loans. Therefore, do not apply to financial investments.
Although different in the case of a corporation. While the foundation of the company’s founders are giving you the property, cash and intellectual property in the original capital. Each deposit is calculated as cash and each founder buys a package of measures be defined and registered by relevant authorities in the capital stock of the Company. Number of one and the same investment is real or financial assets. the process of growth of real capital is followed by the growth of fictitious capital. This can not in this case, actual investments without the issuance of shares to be carried out i. e., without the financial investment.
In the case of the increased share capital of the Company are printing new shares, then it is carried out followed by real investment. Therefore, financial investment is considered necessary attributes for the investment process. Real investment is impossible without financial means. Real investments face of financial investments completed.
The increase in production can take place, including from sources made available to the influx through the issuance of securities of the loan. Consequently, although in this case, the actual investment process done with the help of financial assets.
We have different situations in which applied to the secondary market for the securities. If investors buy shares of the company is already enabled, then the sources of waste for the purchase of shares which are already investing. However, do these sources to the former owners of shares, so the growth does not occur the company’s real capital. It’s the same with the purchase of securities of any kind on the secondary market. In this case (if the course of the values is not grown) growth of fictitious capital in society has no place. Only the distribution of fictitious capital among members of the society takes place. Therefore, the financial investments are made in the forms of acquisition of securities in the secondary market will be relatively independent and not directly to the actual investment process in context.
According to the above, we make the following conclusion: The financial investment is the connecting ring rotation of the savings in capital investment. It enables savings in production at the same time may come, as a relatively independent of the investment. In anticipation of the fact that today the company’s shares are considered widespread form of legislative organization of the company, we can conclude that the financial investment and security market, a crucial role in the investment process in the way of transformation takes place in real savings investment.
Definition of intellectual investment. Investment market is a complex system consisting of different structural elements, between which there is a connection number. Scheme (in the drought. 5 
Provides a clear example of the structure of the global investment market.
As seen in the field, the investment in financial and physical objects (real) assets are divided. Each of them has a very diversified structure.
Financial assets and financial concerns of all types of payment obligations that are created mainly by the operators during their work. This money is in cash, deposits in current accounts, called short-term loan obligations, such as shares and other financial documents that show the correct object in the capital or the creation of destination in the movement of financial resources.
Fixed assets: movable and immovable property, credit, building, precious metals, raw materials long known to produce valuables or inventory in the short terms of use and so on use.
Modern investment structure, in particular, Express substantial surplus of financial assets in the material (the same 57th 7% and 42 3%), the second ant, in the structure of financial assets designated itself securities, bonds and short-term investment accounts as an occupying power larger and larger place.
The correlation of financial and physical assets of the investment market can be brought by the ratio of financial relations expressed. Idea of participation, the coefficient belongs to R. Goldsmith, who is the author of works on the structure of national wealth and financial systems of developed countries will be written. The scientist in the second half of the 50s and early 60s he worked with the method of calculation of the coefficient of interaction. This ratio is calculated as the consistency of the total amount of financial assets with the size of the fixed assets by deducting foreign assets received the network. Net foreign assets are the conformity of the foreign debt and its inhabitants with that of the foreign country and its people belong to this community. Citizens, businesses and other legal persons are entitled to hold accounts in foreign countries, give loans to foreign citizens own property abroad. You are also possible in this debt, foreign citizens. If the size of foreign ownership and financial wealth of the country’s foreign debt surplus population, then net foreign assets appear to be of positive dimension to the contrary.
Depending on the type of investment, basic types of investment market – the financial and physical or real investment markets in modern conditions can be included through the marketing of intellectual investment. The latter acts as licensing, consulting engineering services, technical, scientific processing, purchase and sale and other projects.
As in the market economy, so in the transfer phase, alternative variants of the use of resources, investment resources between them. The principle of things play in exchange for investments in the forms and materials, in human capital. It is known that under modern conditions of investment in human capital is very important and is a big benefit. This is performed in many economic activities. K. Sax and point F. Lauren investment in human capital. They recognize that investment in human capital is of great importance to the economy of marketing. Today, a theory of intellectual capital for the Foundation makes investments in human capital. The authors of this concern for the intellectual capital theory is a difficult category. It is wider than the human capital, as is seen in him the information as an independent military action. The investments in intellectual capital differ from those in human capital. It also refers to the elements of structural capital, which means that investment in furniture, computers, software, patents and trademarks. On the basis of the theory of the intellectual capital of a concept of social partnership was formed. This view is based on investments made in the capital. Theory of social capital through relationships of mutual assistance and the development of trust in separate groups or preparation for participation in the unions. more educated and skilled workers are more social capital formation and economic macro-system. On the basis of subjective investment attractive investment officer shall be such as social capital, the main influence on the intellectual development of the investment market.
Intellectual investment market has the following characteristics:
First, the intellectual investment market, the part that the market is going. For certain products in the contracts scheduled directly between producers and consumers. This is the mediation of the trade is no exception. Although there consume it is a fundamental difference between mediation and raw materials they enter the market for intellectual investment. An analysis of these studies show that in growing conditions, the transition from the structures of the intermediary in the section on basic consumer goods, mass application be held in Georgia. The mediator is not to be, the special knowledge, is only the first information sufficient. Of course, mediation in intellectual investment market requires highly qualified specialists of the company. Intermediaries themselves to join “between producers and consumers, not many. For this service as a mediator in the market for intellectual investment analogue service various forms of marketing of commodities massive demand equal to the quality and effectiveness (at the expense of reducing the cost side) .
Second, the intellectual investment market is clearly influenced by the movement of capital and labor.
Third, the intellectual investment by the state protected from foreign competition, including export and import of the final result of the use of intellectual investment. The operation of the intellectual investment market can not exist without the protection of intellectual property objects.
Fourth, the international market to domestic organizations and intellectual additional investment required to enter.
Fifth, the formation of market values on the outcome of the use of the intellectual-specific investments.
The values of intellectual investment products have no direct connection with the work they spent on. The value of intellectual investment product, is by definition used in the production. This is the value of intellectual expression as a cash investment process defined by this use of the product for the money received.
The market value of intellectual investment product is set to an agreement, through the use of two prices (seller and buyer). The purchaser may request that the benefits and the use of intellectual investment, at least, is designed to cover the costs incurred by the seller and the sale of this product and also to complete extensions of the buyer. The seller usually does not distribute the products of intellectual investment, but only conveys the right to use. Therefore, the value of agreement on this production in the vicinity of the buyer in practice.
The performance of the intellectual investment in the market can be:
- The transfer of the license rights now: “What, sighs of raw materials and so on;
- The sale of the transfer of the now-how, technological expertise and so on. Agreement on these acts of purchase and sale of license agreements are different than the fact that the owner of now, why not contest the sale, but not compatible with their patents;
- With the provision of engineering services;
- The transfer of technology, the fund company, within the limits that are not buy and sell only performed but also in other aspects of the consultation on their distribution, branding specialists, the transfer of drought and technological exchanges.
Engineering is one of the basic forms of completion are the intellectual investment market. This means that a commercial consultancy, engineering different basis. Engineering services are divided into two groups: 1) services in connection with the preparation of production, 2) services in connection with the operation of the normal continuation of the production process and its implementation. The first group includes: a) prior to the screening service (socio-economic research, surveying and planning the location, research memorandum, in the search for minerals, technical and economic presentation of the project and so on), b) projection of services (general plan preparation and recommendations, an estimate of the costs incurred to operate in advance of the preparation of technical specialists, etc), documentation c) continue to provide services l project (contract preparation, organization of the auction, an estimate of the proposals, to make treaties, processes, construction management, production and issuing of certificates on completion of the work, with technical qualification in the construction and so on), d) special services (research on the use of various legal proceedings, etc.). For the second group is engineering services: services for the management and organization of production, services for the examination of the object used, consultations on financial issues, services for the implementation of production (research on market conditions, the organization of advertising), services in connection with the provision of information system and so on. Engineering consultations under the terms of the shortage of highly qualified staff, can provide the intellectual investment process, helping businesses to increase efficiency in order to resolve the flow of funds for investment.
Portfolio investment market is the market consisting of financial investments. Through the formation of the company from shareholders and with financial support from institutional investors, active in supporting the investments of the financial markets in a significant accumulation of independent sources of cash in the country also attracts foreign investors, keeping the flow of financial investment, financial security, effective investment risks and so on.
To clarify the motivations of investment and to leverage the influence of the state is the definition, which advises the discussion about the characteristics of the flow of investment into the production of material (soil and turnover) and financial capital.
Investment in the transport process of investment activity is carried out in the following main directions:
We are the flow of investment in the process of additional production of fixed assets (capital and discuss nuclear envelope). Each of its elements can be divided into movable and immovable property. Furniture, machinery, the turnover of capital is one of the elements of physical capital furniture and elements of the passive part of the core capital (buildings, equipment, industrial infrastructure) – the land one.
additional production of physical capital is made in the furniture industry, and the immutable – in the building. Investment activity is to show in the way of homes, furniture and other items of physical capital in the market or in the absence of the necessary raw materials are carried out, in their mode of production (construction).
Investment activity is at the expense of the various sources are used: own loan, drew on sources of investment allocations. Structure of the sources of the organization depends on active and legislative newly formed company. Investments can be shown as cash, and material forms in the face of property rights and intellectual potential. In anticipation of the above, the flow of investment in additional production of physical capital, described as follows:
economic substance of the same processing chain exists in the following: investments in different (in money, goods, raw materials) are objects of investment applications for industrial activity placed. performed after this process of transformation of an investment in the industry factors. In that, the realization of investments made, which appears on the face of the increased value of the assets of investment capital.
Just the further transformation of the investment or the movement ends in Soviet economic literature. Set artificially stage capital formation or new phases of the operation, which defines the actual income of the profitability of these valuables, and finally the time of self-compensation for the investments.
As a primary investment objective is to profit, the investments are undoubtedly refers to a period of exploitation of the acquired properties capital value at the date of the financial resources for capital investment in production facilities to compensate.
In this case, the production that occurs in the form of investments in commodities, is made in the markets of the various investments (buildings, furniture, materials and other markets.)
What is the difference between investments and commodities, as they are with each other in the material form and the ability to income? In our view, is the fundamental distinction between the “universality” investment grade and investment resources. Every good investment for the realization in the markets in the future to a factor of production of concrete or material forms in cash. Does not mean material transformation of capital be more produced, can also be worn – morally and physically, and investment, as are furniture so the cash to get – the constant and infinite. In our view, this makes the individual investments in commodity investment.
Investments in financial assets with respect to standards of profitability on hold. Income, according to various financial assets, share in dividends (rate industrial revenue) and percentages. This is considered the capital they represent – and set the lending industry.
A process of financial assets may be invested as follows below:
First, the intellectual investment market, the part that the market is going. For certain products in the contracts scheduled directly between producers and consumers. This is the mediation of the trade is no exception. Although there consume it is a fundamental difference between mediation and raw materials they enter the market for intellectual investment. An analysis of these studies show that in growing conditions, the transition from the structures of the intermediary in the section on basic consumer goods, mass application be held in Georgia. The mediator is not to be, the special knowledge, is only the first information sufficient. Of course, mediation in intellectual investment market requires highly qualified specialists of the company. Intermediaries themselves to join “between producers and consumers, not many. For this service as a mediator in the market for intellectual investment analogue service various forms of marketing of commodities massive demand equal to the quality and effectiveness (at the expense of reducing the cost side) .
Second, the intellectual investment market is clearly influenced by the movement of capital and labor.
Third, the intellectual investment by the state protected from foreign competition, including export and import of the final result of the use of intellectual investment. The operation of the intellectual investment market can not exist without the protection of intellectual property objects.
Fourth, the international market to domestic organizations and intellectual additional investment required to enter.
Fifth, the formation of market values on the outcome of the use of the intellectual-specific investments.
The values of intellectual investment products have no direct connection with the work they spent on. The value of intellectual investment product, is by definition used in the production. This is the value of intellectual expression as a cash investment process defined by this use of the product for the money received.
The market value of intellectual investment product is set to an agreement, through the use of two prices (seller and buyer). The purchaser may request that the benefits and the use of intellectual investment, at least, is designed to cover the costs incurred by the seller and the sale of this product and also to complete extensions of the buyer. The seller usually does not distribute the products of intellectual investment, but only conveys the right to use. Therefore, the value of agreement on this production in the vicinity of the buyer in practice.
The performance of the intellectual investment in the market can be:
- The transfer of the license rights now: “What, sighs of raw materials and so on;
- The sale of the transfer of the now-how, technological expertise and so on. Agreement on these acts of purchase and sale of license agreements are different than the fact that the owner of now, why not contest the sale, but not compatible with their patents;
- With the provision of engineering services;
- The transfer of technology, the fund company, within the limits that are not buy and sell only performed but also in other aspects of the consultation on their distribution, branding specialists, the transfer of drought and technological exchanges.
Engineering is one of the basic forms of completion are the intellectual investment market. This means that a commercial consultancy, engineering different basis. Engineering services are divided into two groups: 1) services in connection with the preparation of production, 2) services in connection with the operation of the normal continuation of the production process and its implementation. The first group includes: a) prior to the screening service (socio-economic research, surveying and planning the location, research memorandum, in the search for minerals, technical and economic presentation of the project and so on), b) projection of services (general plan preparation and recommendations, an estimate of the costs incurred to operate in advance of the preparation of technical specialists, etc), documentation c) continue to provide services l project (contract preparation, organization of the auction, an estimate of the proposals, to make treaties, processes, construction management, production and issuing of certificates on completion of the work, with technical qualification in the construction and so on), d) special services (research on the use of various legal proceedings, etc.). For the second group is engineering services: services for the management and organization of production, services for the examination of the object used, consultations on financial issues, services for the implementation of production (research on market conditions, the organization of advertising), services in connection with the provision of information system and so on. Engineering consultations under the terms of the shortage of highly qualified staff, can provide the intellectual investment process, helping businesses to increase efficiency in order to resolve the flow of funds for investment.
Portfolio investment market is the market consisting of financial investments. Through the formation of the company from shareholders and with financial support from institutional investors, active in supporting the investments of the financial markets in a significant accumulation of independent sources of cash in the country also attracts foreign investors, keeping the flow of financial investment, financial security, effective investment risks and so on.
To clarify the motivations of investment and to leverage the influence of the state is the definition, which advises the discussion about the characteristics of the flow of investment into the production of material (soil and turnover) and financial capital.
Investment in the transport process of investment activity is carried out in the following main directions:
1st Investment in tangible goods (basic production and sales of capital);
2nd Investments in financial assets;
3rd Investment in intellectual valuables.
We are the flow of investment in the process of additional production of fixed assets (capital and discuss nuclear envelope). Each of its elements can be divided into movable and immovable property. Furniture, machinery, the turnover of capital is one of the elements of physical capital furniture and elements of the passive part of the core capital (buildings, equipment, industrial infrastructure) – the land one.
additional production of physical capital is made in the furniture industry, and the immutable – in the building. Investment activity is to show in the way of homes, furniture and other items of physical capital in the market or in the absence of the necessary raw materials are carried out, in their mode of production (construction).
Investment activity is at the expense of the various sources are used: own loan, drew on sources of investment allocations. Structure of the sources of the organization depends on active and legislative newly formed company. Investments can be shown as cash, and material forms in the face of property rights and intellectual potential. In anticipation of the above, the flow of investment in additional production of physical capital, described as follows:
Therefore, the whole system of forms of space investment market investment market as a whole. In this room, a financial investment market is the market for real investment and intellectual filled.
Qoqiauri Lamara
Member of the Royal Academy of Economic Sciences of Georgia
and New York Academy of Sciences
Doctor of Economics, Professor