SUBJECT-LEVEL CLASSIFICATION OF INVESTORS AND THEIR FUNCTIONS IN THE INTERNATIONAL CONTEXT

In today's globalized and financially integrated economic landscape, international investment activity is becoming more crucial for national economic progress. Investors play a role in the global economy that extends beyond mere capital mobilization, encompassing various functions. This article delineates the subjectlevel classification of investors and their functions within the international context. This article aims to establish a subject-level classification of investors operating internationally and to define the functional characteristics of each investor group, considering their influence on both national and global economic dynamics. The proposed classification of investors is as follows: the first level is the state as a subject of investment activity, the second level is the banking and non-banking/para-banking financial systems, the third level is groupings with various purposes, but most often to combine capital to achieve common investment decisions, which include megacorporations, the fourth level is production-economic associations of certain types, namely developer companies, project managers, real estate firms, engineering and consulting firms, accounting firms, the fifth level is associated with subjects of the investment process who can be distinguished due to the performance of specific functions only in the securities market. The international investment appeal of economic entities is shaped by the interplay of actors across various levels, ranging from supranational organizations to individual investors. Within the context of globalization, these actors, including entities like the IMF, the World Bank, and TNCs, play a crucial role in facilitating the inflow of foreign direct investment by fostering stability, promoting technological advancement, and ensuring market access. Notably, functional participants in investment activity – diverse firms primarily focused on delivering specialized services and executing specific tasks (such as developer firms, real estate firms, engineering and consulting firms, and audit firms) – are pivotal throughout the various stages of investment development.