ОЦЕНКА ВОЛАТИЛЬНОСТИ ИНВЕСТИЦИЙ В ТЕХНОЛОГИЧЕСКИЕ ИННОВАЦИИ ПРЕДПРИЯТИЙ КИТАЯ

Abstract

Modern development of China is not possible without the support of technological innovations of its individual enterprises. However, the continuous growth of investment in innovation has not led to a proper increase in the innovative level of Chinese enterprises. The object of the study is the innovation activities of enterprises in China. The subject of the study is the volatility of investment in innovation. The aim of the study is to substantiate the impact of investment volatility in the technological innovation of Chinese enterprises in strategic emerging industries. The objectives of the study are to assess the impact of investment volatility in the technological innovation of Chinese enterprises at different stages of the life cycle. The following research methods have been used: analysis, synthesis, analogy, statistical methods. In recent years, there has been an increase in investment volatility in the technological innovation. However, according to a number of Chinese scholars, the unsustainability of enterprises' investment in innovation will eventually lead to an increase in the level of these innovations. The assumptions made by scientists need to be verified. Within the framework of the article, the influence of investments’ volatility in the technological innovations at different stages of the life cycle of Chinese enterprises has been studied. The causes are determined and the various consequences of volatility at different stages of the life cycle of enterprises are considered. It has been established that volatility has a positive effect on the innovation of enterprises in the growth stage, at the mature stage it has a slight stimulating effect, and it has no effect at the stage of decline. The negative deterrent effect of state subsidies for innovation on the volatility of investments at all stages of the life cycle of enterprises is noted