Determinants of the Investment Policy of Russian Retail

It goes without saying that nowadays it is noticeable the trend of development of retail trade. This is confirmed by the Rosstat data, which indicates that the retail trade turnover is growing rapidly. The aim of this work is to identify key determinants that influence the effectiveness of the investment policy of companies in the retail sector. Based on the purpose of the study, the author was faced with the following tasks: 1) Review existing research on the company's investment policy; 2) Create a database for analysis; 3) Conduct an econometric analysis to identify indicators that affect the investment policies of companies; 4) Justify the conclusions, which in the future can be used by companies in the retail sphere. The practical part of the study includes econometric analysis, which allows to identify significant and insignificant factors. The sample used is data from 86 retailers, which are actively developing in Russia. The dependent variableof the research is payments for investment operations, and the independent variables are assets, net profit, current liquidity ratio, total debt to total assets, company age, online store availability, number of outlets, development plans, number of countries where the retailers develop and macro-indicators such as gross domestic product, investment volume, interest rate. It is worth noting that the author put forward four hypotheses, which in the end of the study were confirmed.