Large-scale investment activitypresupposes the creation of the necessary economic conditions for the concentration and mobilization of resources. This causes the emergence of agents of industrial and commercial activities, various in organizational and legal forms and complexity, corresponding to the level of the market, determining the main financial indicators of the enterprise, including the parameters of effective capital flow to profitable spheres. The most consistent with these criteria are the systems of economic entities in the form of corporate structures.
To denote such economic agents indomestic and foreign literature uses definitions: "integrated", "business group", "corporation", "group of enterprises", which initially determine the main activity of the enterprise.
As the integration phenomena increaseeconomy, the main economic indicators of the company's activities are increasingly showing a tendency to consolidation and integration of capital. So, at the present stage the leading role in the development of economies is played by large industrial groups, the result of which is the basis of the gross domestic product of many countries. The investment activity of companies is becoming more and more global and is expressed not only in the creation of new industries, but, more often, in the acquisition of existing companies (M & A) or the creation of joint ventures, the formation of various alliances (SA) that significantly change the traditional basic economic indicators activity of the enterprise.
Despite the high enough percentage of unsuccessfulmergers and acquisitions, and the creation of alliance structures, transnational corporations (TNCs) continue to increase the volume of investments and intend to maintain this strategy in the future, thereby affecting the main economic indicators of the enterprise.
Currently, direct investments by TNCsare implemented in three main ways, which represent two different models of company development: organic growth (FDI Green Field), as well as transformational growth (M & A and SA). At the same time, the second option accounts for more than 2/3 of all FDI for TNCs
Main economic indicators of activityenterprises within the framework of such models show that, despite the large-scale practical implementation of integration deals, the theoretical development of their various forms is still insufficient. In modern economic theory there are no generally accepted definitions of the above concepts. None of these terms is defined in the existing legislative branch. The development of integrated structures requires their clear definition, the identification of classification characteristics.
Signs of the classical integrated structure(IS) are: a single ownership of factors of production, product and income, which forms the economic basis of the integrated structure and ensures the control of the enterprise at the price of the products (services) produced in the market; a high level of centralization of management and unified production parameters.
In foreign practice, the defining featureintegrated structures is often the presence of a single leadership and multi-level organization. Distinguish the core and auxiliary enterprises, which are at different levels of the associated connection: close, polite and loose. The core of the IP is a parent company representing a large-scale enterprise or a holding company with a controlling interest. The company of close connection is a subsidiary company, a block of shares (or a controlling stake) of which is held by a holding company. Polytechnic communication companies are companies, the share of participation in which is in the hands of the parent company. Enterprises of loose communication are business units associated with a parent company or with members of close ties with stable cooperative relationships. If there is only a parent company, without close ties, one can not speak of an integrated structure.
