Profit and investment provision of agricultural enterprises in Ukraine

Investment processes are crucial for agricultural enterprises' sustainable development, innovativeness, competitiveness, and food security. The article presents the results of the study, the purpose of which was to quantitatively assess the role of the profit of agricultural enterprises in the investment provision in agriculture in Ukraine in 2012-2022. Quantitative research methods were used, particularly trend analysis, correlation analysis, and a regression model design. The dynamic tendencies of investing and profitability in agriculture were defined. It showed the trend of increasing the annual number of investments in agriculture in the pre-war years. Political factors explained some deviations from the growth trend. Only in the first year of the war were capital investments reduced by 27% in agriculture in Ukraine. The total net profit of agricultural enterprises was positive during the research period, but its annual value fluctuated significantly. Our study has revealed a significant correlation between the profit of agricultural enterprises and the volume of investments in agriculture. We have developed regression models that demonstrate this relationship for the periods 2012-2022 and 2012-2021 with a one-year lag for investments. Our findings confirm that profit is the primary financial source of investment and innovation in Ukrainian agricultural enterprises. To ensure the innovative development of agrarian enterprises and the country's food security, further scientific research is needed to determine the financial sources of investment and their optimal structure in agriculture, particularly in times of decreasing profitability.