STRATEGIC ASPECT OF SOCIAL INVESTMENT IN THE CONTEXT OF REGIONAL DEVELOPMENT

Abstract

Social programs of business, whose implementation has a positive effect on regional development, are becoming increasingly important. Such projects are especially important for regions that, due to their territorial and climatic features, are not able to attract investors. At the regional level, the implementation of social investment is problematic due to the lack of a unified understanding of social investment and a systematic approach to social investment as a process. The concept of social investment is multi-valued and multifaceted. Social investments can be considered from the point of view of system, organizational, managerial, functional (target), process, resource, formal and structural approaches. The process of implementing social investments provides for complex and indirect mechanisms for the return of funds. The efficiency of the use of social investments is due to their information, quantitative and qualitative characteristics. The directions of speeding up the process of implementing investments in the social sphere are the improvement of legal methods for regulating socially-oriented investment activities. In addition, it is necessary to optimize organizational and legal methods in terms of assessing the social efficiency of investment projects. To activate the social investment process as a strategy aimed at increasing the capitalization of Ukrainian companies and expanding their participation in solving social problems in the region, it is necessary to form a new meaningful approach that will include the implementation of social programs outside the corporate structure and which will be based on a partnership of civil society and business and power. The use of international experience in the use of investment tools such as holding social project competitions, implementation of volunteer programs, development of social entrepreneurship, impact investing has been proposed.