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Impact of the Participation of Foreign Investors on the Performance of Metallurgical Industry Firms

Student: Kabadzha Aleksandr

Supervisor: Tatyana A. Ratnikova

Faculty: Faculty of Economic Sciences

Educational Programme: Bachelor

Year of Graduation: 2014

<div>This research studied the effect of foreign direct investment on the economy on the example of Russian metallurgical industry.</div><div>&nbsp;</div><div>Subject of study - foreign direct investment.</div><div>&nbsp;</div><div>Object of research - Russian metallurgical enterprises .</div><div>&nbsp;</div><div>The purpose of research - analysis of the impact of foreign direct investment on the efficiency of enterprises, as well as import-export of Russian regions .</div><div>&nbsp;</div><div>Research objectives:</div><div>&nbsp;</div><div>1) Data collection;</div><div>&nbsp;</div><div>2 ) Study of descriptive statistics and representativeness of the sample ;</div><div>&nbsp;</div><div>3) Constructing empirical models to investigate testable hypotheses .</div><div>&nbsp;</div><div>Hypotheses of the study :</div><div>&nbsp;</div><div>1) The main hypothesis (H0). The presence of the foreign investor has a positive impact on the effectiveness of metallurgical enterprises of Russia.</div><div>&nbsp;</div><div>2 ) Incidental hypothesis (H1). The volume of foreign investment in the region has a positive effect on the volume of exports from the region.</div><div>&nbsp;</div><div>3 ) Incidental hypothesis (H2). The volume of foreign investment in the region has a positive effect on the volume of imports into the region.</div><div>&nbsp;</div><div>Survey Methodology : content analysis, descriptive statistics sampling , regression analysis (panel data analysis).</div><div>&nbsp;</div><div>Sources of data:</div><div>&nbsp;</div><div>1 ) Database RUSLANA;</div><div>&nbsp;</div><div>2) The data of the Federal State Statistics Service.</div><div>&nbsp;</div><div>The study was conducted at the micro - and meso-levels. At the enterprise level we unexpectedly found a negative effect on the presence of foreign investors in the shareholders. Various factors play a role: the imperfection of Russian investment mechanisms, &quot;fictitious investor&quot; of offshore jurisdictions. Indeed, the imperfection of the Russian tax laws often allow investors and management companies to find ways to profit from the Russian withdrawal in low-tax jurisdictions. Due to the fact that the end point was the company performance indicator of profitability is directly dependent on the amount of the company&#39;s profits, the analysis showed a negative effect of having a foreign investor.</div><div>&nbsp;</div><div>Mesoscale evaluated the dependence of exports from FDI into the region. Hypothesis about the positive impact of foreign investment on exports from the regions confirmed that our initial assumption was true - with the arrival of foreign investors arises access to external markets sales.</div><div>&nbsp;</div><div>The assumption that the positive impact of FDI on imports into the region was not confirmed. Probably, the share of &quot;unscrupulous&quot; investors, contracting for the supply of raw materials from abroad, today is negligible.</div>

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