Assessment of the Region Investment Attractiveness in Complex Relationship with Sustainable Development on the Basis of the Balanced Scorecard

Vladimir Myakshin, Irina Grishina, Irina Grishina

2021

Abstract

The purpose of the article is to justify the need for possible applying the balanced scorecard for identifying the region investment problems. Investment attractiveness of the regional economic system of the Arkhangelsk region of the Russian Federation is taken as a research object. It should also be noted that over a long period of time the balanced scorecard has been applied as the efficiency management tool of certain organizations. However, no attempts were made to develop valuation techniques for the investment attractiveness of economic systems using the balanced scorecard. Besides the balanced assessment methodology has not been applied for studying regional issues before. The authors of the present research improved the integrated approach to the assessment of the investment environment (that was implemented by means of methodology of Council for the Study of Productive Forces) by supplying it with achievements of the balanced approach which was suggested by R. Kaplan and D. Norton. The article proves the importance of developing a mechanism for coordinating the interests of various participants of the investment process. The authors show the opportunity of creating that sort of mechanism based on the balanced scorecard for assessment of the region investment attractiveness taking into consideration the information needs of every group of participants. The application of the balanced score card may become the basis for developing an effective strategy of improving investment attractiveness of the region.

Paper Citation

in Harvard Style

Myakshin V. and Grishina I. (2021). Assessment of the Region Investment Attractiveness in Complex Relationship with Sustainable Development on the Basis of the Balanced Scorecard. In Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI, ISBN 978-989-758-519-7, pages 388-395. DOI: 10.5220/0010591103880395

in Bibtex Style

@conference{issdri21,
author={Vladimir Myakshin and Irina Grishina},
title={Assessment of the Region Investment Attractiveness in Complex Relationship with Sustainable Development on the Basis of the Balanced Scorecard},
booktitle={Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,},
year={2021},
pages={388-395},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010591103880395},
isbn={978-989-758-519-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,
TI - Assessment of the Region Investment Attractiveness in Complex Relationship with Sustainable Development on the Basis of the Balanced Scorecard
SN - 978-989-758-519-7
AU - Myakshin V.
AU - Grishina I.
PY - 2021
SP - 388
EP - 395
DO - 10.5220/0010591103880395