Abstract:
In the context of significant resource limitations faced by the Russian economy in recent years, it is important to set priorities and to identify the factors that influence the choice of the investment resource models in firms. The study aims to explain the choice of investment models in different types of resources in Russian companies. In the course of the fundamental understanding of this scientific problem, we allocated two groups of factors that determine the procedure of Russian companies to invest in certain resources. The first group of factors are the characteristics of resources: value, flexibility, specificity, complementarity, the degree of control on the part of investors. The second group of factors connect the specific institutional environment of Russian business. The synthesis of resource characteristics and features of the institutional environment lead to the fact that in Russia investors select as the object of investment physical and relational assets, and do not want to invest in human capital and organizational resources. Such resource strategy for the Russian economy is not efficient in the long term. These theoretical conclusions are supported by the empirical analysis of the Russian firms.