ОЦЕНКА ВЛИЯНИЯ ИННОВАЦИОННЫХ ПРОЕКТОВ НА РЫНОЧНУЮ КАПИТАЛИЗАЦИЮ КОМПАНИЙ: ПОДХОДЫ И ПОКАЗАТЕЛИ

Abstract

The growth of innovative activity of enterprises is a problem of the modern economy. Effective enterprise innovation management must ensure long-term competitive advantage and financial sustainability. This requires the search tools capable of updating the resource potential of the enterprise. Research shows that project management is such a tool. With organizational isolation, a defined budget, established goals, the project provides intensive and targeted changes to the subject area, as well as the ability to assess the effectiveness of innovation. The author proposes a system that reflects not only current, but also promising indicators for each type of effect. In particular, economic efficiency includes not only indicators traditionally used to evaluate projects, but also indicators such as growth of client capital, profitability of costs for commercialization of innovations and others. The article provides indicators for other types of effects of the innovative project. Turning to the problem of assessing the integral effect of innovation, the author concluded that the most approaches is based on the generalization by various methods of indicators reflecting private types of efficiency. The author proposes to consider as an integral indicator the growth of market capitalization of business. The indicator can characterize the influence on the results of innovation of factors of the external environment, their dynamics. For calculate the indicator, it is proposed to use the discounted cash flow method, which can reflect the instability of cash flows during the period of innovation activity. Additionally, by applying the method of accumulation of assets, it is possible to establish growth or reduction of market capitalization due to change of the property complex of the enterprise.