Factors of Investment Activity of Companies

This paper explores the determinants that influence the companies’ investment activity. Based on previous empirical and theoretical studies there were detected internal and external factors of investment decisions. The impact of different factors on investment activity has been evaluated for Russian public companies. The data was collected from the system "SPARK" for the five year period from 2013 to 2015. As an indicator of investment activity the volume of fixed assets of a company was considered. As the determinants there were company's net profit, total assets, revenue, profitability indicators, financial leverage, capital intensity, type of ownership. The conclusions of the research showed the impact on the investment activity of the company's financial results, efficiency, effectiveness of operations and intensity of capital use.