Physical and Chemical Geotechnologies

Purpose

The main objective of the paper is to develop a system of economic and mathematical models for managing the investment activity of the coal mining enterprise, including improving the principles and methods for analyzing the profitability of investment projects and the optimal allocation of investments.

Methodology

According to the goals, data on investment activity of mines for 13 associations, every one of which consists of 3 to 7 privately owned mines, was used in this article over the period 2003 - 2011 to construct a model for determining the efficiency of investments, which allows to determine the profit of a coal mining enterprise from the implementation of an investment project. Unlike the existing ones, the group of factors peculiar to the coal mining industry, such as geological factors and technical properties of coal, was taken into account.

Findings

With the help of neural networks, a model was built based on 12 kinds of investment (9 kinds of investments into equipment, capital investment, portfolio investment, intangible assets investments) which are the most typical for a coal-mining enterprise.

The method of optimization of investment allocation on a coal mine was developed, which, in contrast to the existing ones, determines the optimal investment volume, which helps to maximize profits for 12 investment models.

Created economic and mathematical models solve such questions as:
1. analysis of the influence of geological factors and technical characteristics of coal on the efficiency of the coal mining enterprise and on the efficiency of investment;
2. analysis of the influence of volumes of 12 types of investments on the level of profit of a coal mine;
3. the determination of the amount that a coal mine can allocate to investing on its own expense;
4. profit determination from a certain investment project taking into account all the above-mentioned parameters;
5. the possibility of adjusting the investment project in order to maximize profits.

The work was carried out at the Dnipro University of Technology in accordance with the plans of the state-funded university No0104U002027 “Economic- mathematical substantiation and information support of innovative ways of development of regions” and the No0106U008093 “Mathematical modeling and optimization of processes of organization and management of mining and metallurgical enterprises of Ukraine”

Keywords: coal industry, investments, statistically significant factors, economic and mathematical models, neural networks, optimization.

References

1. Purayev, Aydar, Compromise assessment of the effectiveness of investment projects, Moscow, Gostekhizdat, 2015.
2. Damodaran, Aswat, Damadaran Investment valuation, Moscow, Alpina Business Busks, 2016.
3. Bryntsev, A.N., Investment project. Yes or no , Moscow: Economicheskaya Gazeta, 2017.
4. Stanislavchik, E.N., Business plan. Management of investment projects, Moskow, Oh-89, 2017.
5. tanislavchik, E.N., Business plan: Financial analysis of investment project , Moscow: RSUU, 2017.
6. Sally V.I, Reichel B.L., Shvets V.Ya. and others, Economic problems of maintenance of power of inefficient coal mines, Dnepropetrovsk, (2002) 6-40
7. rifonova E.V., Skazhenik Yu.B. To the definition of the "price" of the parameters forming the level of economic reliability of the coal mine, Economics: problems of theory and practice, Dnepropetrovsk, Vo. 204, vol IV, (2005) 1054-1063.
8. I.Sutskever, J.Martens, G.Dahl, G.Hinton. On the importance of initialization and momentum in deep learning, J. of Machine Learning Research (2013), 1139-1147.
9. Qi L., Sun J. A nonsmooth version of Newton’s method, Mathematical Programming. (1993) 353-367.