DIFFERENTIATION OF STRATEGIES FOR STIMULATING THE INVESTMENT ACTIVITY OF TRADE ENTERPRISES BASED ON THE INVESTMENT FEASIBILITY INDEX

The article substantiates a methodological approach to differentiating strategies for stimulating the investment activity of trade enterprises based on the Investment Feasibility Index. The relevance of the study is determined by substantial differences between trade enterprises in investment intensity, financial performance, capital structure and their ability to sustain investment activity under unstable economic conditions. The proposed index combines three interrelated dimensions: investment activity, financial performance and financial stability. The methodological approach provides for the selection of six indicators, their min–max normalisation, calculation of three partial indices and subsequent aggregation into an integral index using equal weights. Particular attention is paid to the economic interpretation of the integral value and the internal structure of the index. The article argues that the integral level should not be treated as an automatic criterion for selecting a final strategy, because similar values may be formed by different combinations of the three components. Therefore, the proposed differentiation is based on the diagnostic interpretation of the integral value of the Investment Feasibility Index and the profile of its partial indices. The integral value is used to assess the overall state of investment activity, while the profile of partial indices helps identify internal constraints and reserves and provides a basis for determining the strategic field of managerial decisions and priority areas of stimulation. The approach is intended for analytical application at the enterprise level and is tested on five Ukrainian trade enterprises representing different business models and scales of activity. The final specification of a strategy should additionally take into account changes in the external environment, the characteristics of the enterprise's business model and investment risks. The proposed framework is aimed at linking integral assessment with differentiated strategic decision-making without reducing the index to a simple ranking instrument. It also distinguishes the diagnostic role of the index from broader assessments of the external investment environment and treats digital, logistical and other non-financial characteristics as additional factors to be considered when the strategic orientation is specified. The approach is therefore designed as an information and analytical basis for differentiated investment stimulation rather than as a normative model with fixed universal thresholds.