Indicators Of Innovation Activity Research Articles

Factor analysis of innovative activity of the regional economic system

Relevance. Innovation activity is one of the fundamental indicators of the effectiveness of innovation activity in the region. In the context of external challenges and economic instability, innovation is a fundamental vector of development of the domestic economy. However, the effectiveness of innovation activity is currently reduced due to the influence of risk factors of various etiologies. Therefore, the assessment of the factors influencing the innovative activity of the region determines the relevance and significance of the study.The purpose is to determine the influence of factors on the innovative activity of the region and its subjects, taking into account the ranking according to the degree of impact and the possibility of a restraining influence on the innovative potential of the region.Objectives. The following tasks were set and consistently solved in the study: to conduct a theoretical review of the concept of "innovative activity"; to identify factors; to classify and identify the degree of influence on the innovative activity of the region.Methodology. The paper uses a theoretical review of domestic and foreign authors dealing with the issues of factorial influence on the innovative activity of the region and its subjects. During the research, special methods were used: regression analysis, statistical analysis, expert approach, etc.Results. Based on the factor analysis, factors were identified, grouped, classified, and the degree of influence on the innovative activity of the region was determined, which helped to identify the cause of problems in the region (using the example of the Vladimir region).Conclusions. During the study, it was concluded that factor analysis allows us to examine the current state of innovation activity in the region and find the causes that have the greatest destructive effect on the indicator of innovation activity.

Strategies of the countries’ innovative activity in development of intelligent systems

Development of intelligent systems based on artificial intelligence in the area of research and development of technical systems is a new competitive advantage and a growth driver for a country. The authors of the article present the indicators of innovative activity of the countries in development of intelligent systems: the share of the country’s patents in the number of patents for all countries, the number of national strategies in the area of intelligent systems in the country, the geography of implementation of the intelligent systems developed by a country. The authors introduce a term of “index of a country specialization in the sphere of intelligent technology”. Index of specialization is a correlation of factual number of types of patents registered in the country in the sphere of intelligent technology to 10 potentially possible types of patents. These include the patents on advanced manufacturing technologies, robotics, advanced materials, artificial intelligence, big data, the Internet of things, mobility, photonics, security, and digital twins. Using a cluster method, the authors classify 43 countries by the level of innovative activity in the sphere of development of intelligent systems, on the basis of the data provided by the World Intellectual Property Organization and the European Commission in 2023. This allowed developing a classification of 11 strategies of innovative activity in the sphere of development of intelligent systems (based on the scoring assessment). The proposed strategy classification makes it possible to perform benchmarking to study the country’s experience and evaluate the investment risks for the projects in development of intelligent systems.

ECONOMIC AND LEGAL ASPECTS OF PROVIDING INNOVATIVE DEVELOPMENT OF THE ECONOMY IN THE CONDITIONS OF INCREASED INFLUENCE OF FACTORS OF A MILITARY NATURE: THE EXPERIENCE OF UKRAINE AND THE COUNTRIES OF CENTRAL AND EASTERN EUROPE

The purpose of the article is to analyze the state of innovative development of the economy of Ukraine and the countries of Central and Eastern Europe and to identify the problems of its provision in the conditions of martial law. The results of the study prove that factors of a military nature have an ambiguous effect on stimulating the innovative development of the country's economy. It has been established that economic evolution through innovation is a prerequisite for strengthening its competitiveness in countering modern challenges and threats. The results of the empirical study made it possible to find out that during the large-scale aggression of Russia on the territory of Ukraine in 2022, a decrease in the level of innovative economic development was also observed in the countries of Central and Eastern Europe. It was established that in 2023, the countries of the analyzed group managed to increase the indicators of innovative activity of business entities and the parameters of the innovative development of the economy. Important problems in ensuring economic progress through innovative activity have been identified: (1) shortcomings of the legislation regulating the innovation sphere; (2) lack of formation of a unified innovation infrastructure; (3) significant tax burden; (4) lack of an effective system of taxation and provision of tax benefits and preferences; (5) lack of effective investment mechanisms in the field of innovation; (6) low level of technological capacity of production facilities; (7) imperfection of the education system; (8) low level of financing of research activities; (9) focus on the export of raw materials and dependence on high-tech imports. In order to ensure sustainable innovative development of the country's economy, it is necessary to create appropriate conditions for the development of innovative potential, activate the creation of cross-border innovation clusters, and strengthen the country's investment attractiveness.

THE IMPACT OF COVID-19 PANDEMIC ON IT COMPANIES’ INNOVATION ACTIVITY IN THE USA

The study analyzes the impact of COVID-19 pandemic on such innovative activity indicators as R&D spending and the number of international patents of American IT companies. The sample includes 130 US companies from 2010 to 2021. The data are analyzed using the models with fixed individual effects and robust errors, Tobit and Heckman models. According to the findings R&D/Sales ratio has not changed during the pandemic. However, R&D expenditures increased during the pandemic for highly innovative firms and companies from the technology equipment sector increased analogue capitalized R&D. Besides, firms that had international patents before the pandemic granted more patents for registration during the pandemic. A one-year lag was found between innovations’ input in the form of R&D investment and innovations’ output in the form of international patents. These findings allow us to conclude that COVID-19 has a positive impact only on highly innovative companies in the United States.

Finance as a critical component of successful implementation of creative innovations in the modern economic system

The article examines theoretical approaches to the interpretation of certain concepts of the innovation economy in the context of modern transformations, as well as the effectiveness of financing creative innovations. The authors highlighted the problems of innovation transfer and intellectual property management. The paper analyzed the main innovation activity indicators in selected world countries for 2010-2022. It reveals the correlation between innovation financing and economic performance at the macro level. In addition, the authors summarized the essence of the "creative innovations" and "transfer of innovations" categories. They proposed criteria for assessing the effectiveness of innovation potential and defined their nature. The evaluation testing confirmed the possibility of using the proposed criteria. In particular, the key aspects of the formation of adequate financing of creative innovations include financial analysis of investments and risk assessment, marketing strategy and transfer of innovations, as well as monitoring and evaluation of the results of innovation implementation. The authors developed practical approaches to increase the effect of innovation implementation. These approaches allow economic systems to ensure a high level of transfer organization and implementation.

ОРГАНИЗАЦИОННО-ЭКОНОМИЧЕСКИЙ МЕХАНИЗМ РАЗВИТИЯ ИННОВАЦИОННЫХ НАПРАВЛЕНИЙ СФЕРЫ УСЛУГ

The article considers theoretical approaches to the formation of organizational and eco-nomic mechanism of development of innovative areas of the service sector, which allows designing long-term strategies aimed at improving the efficiency of innovative projects of enterprises of this sphere. The concept of organizational and economic mechanism of development of innovative direc-tions of the sphere of services, its main characteristics and requirements, according to which it should ensure the effectiveness of innovative development of the sphere of services, is considered. It is offered to understand a totality of organizational and economic levers of managerial influence di-rected on formation, use and improvement of organizational, industrial, technical-technological, fi-nancial, economic, personnel, ecological and safety resources for maximization of profit of the en-terprise, and also strengthening of competitive advantages in the market and cost of business under the organizational and economic mechanism of development of innovative directions of the sphere of services. The dynamics of indicators of innovation activity of enterprises of the service sector in Russia is investigated. Generalized indicators of innovative development of enterprises of the Russian service sector are systematized, according to the results of which it is concluded that enterprises are mainly engaged in modernization and optimization of processes to reduce production costs. The or-ganizational and economic mechanism is presented, the mutual coordination of the process stages and the influence of its components allow formalizing and managing the development and imple-mentation of innovations. The construction of organizational and economic mechanism of manage-ment of innovative development of enterprises in the service sector creates the necessary prerequi-sites for improving the efficiency of innovative projects and ensuring the sustainability of competi-tiveness in the conditions of growing competition and increasing the level of globalization of the world market of services. The described organizational and economic mechanism of development of innovative directions of the service sector allows designing long-term strategies aimed at improving the efficiency of innovative projects implementation.

ПІДТРИМКА РОЗВИТКУ ІННОВАЦІЙНОГО ПІДПРИЄМНИЦТВА В УМОВАХ РЕЛОКАЦІЇ

The article presents the results of the analysis of the theoretical, organizational and practical foundations of supporting innovative enterprises and entrepreneurship in the conditions of business relocation under wartime conditions. The organizational and logistical measures of government support for relocated business, the conditions for its further adaptation, including the enterprise relocation program, are considered, and the shortcomings that complicate its implementation are indicated. It was determined that among the main problems of the state program of relocation are the insufficient information base and awareness of the existing program, the lack of established communication between the participants of the process. Potential solutions have been analyzed and determined, which can contribute to revitalizing the relocation of businesses and making the process more successful. The need for state support and additional financing was emphasized, which will help bring the enterprise relocation program to a new level, which, in turn, will help enterprises continue their activities and positively influence the development of the state economy. The assessment of the main indicators of innovative activity in Ukraine was carried out. Statistics of enterprises that need relocation and statistics of the number of applications regarding requests for relocation of enterprises in 2022 are provided. Popular business relocation routes in Ukraine have been identified and evaluated. The complexities of relocation are analyzed and potential solutions are identified that will help increase the effectiveness of the state relocation program. Two groups of entrepreneurs are identified and described: those who chose relocation as a way to save their business and did not think about it until the full-scale war; and those who considered such an option and saw in it an opportunity for growth. It was established that in Ukraine there are almost no relocating enterprises working in the innovative field, which has been very neglected in recent years, as it is absolutely not stimulated by long-term sectoral development programs or fiscal incentives.

Innovation as a Key Driving Force of Ukraine's Economic Development in New Conditions

The article substantiates the role of innovation as one of the key drivers of Ukraine's economic development in the new conditions dictated by the war and integration with the EU. Based on a review of leading international ratings, the author analyses the state of Ukraine's innovation activity before and during the war. The strengths, weaknesses, threats, and opportunities in Ukraine's innovation sector are identified. The results showed a deterioration in Ukraine's innovative position in international rankings, mainly under the influence of the war. The changes in the key indicators of innovation activity in Ukraine from 2010-2021 are analysed. The results show a downward trend in most of Ukraine's innovation indicators over the period analysed. The identified problems in Ukraine's innovation sphere are primarily related to the state's need for a more effective innovation policy. The main directions for improving Ukraine's innovation policy in the new conditions are identified based on the obtained results. The author identifies key promising areas for Ukraine’s innovation development in the new conditions.

The Research of Comparative Characteristics and Functional Features of the Co-integration of Technological Innovations and business Activity and their Impact on the Formation of Macroeconomic Dynamics

The subject of the study is the causal relationship between the co-integration of technological innovations and business activity, and their impact on the formation of macroeconomic dynamics in the short and long-term. The purpose of the paper is to propose a comprehensive approach to determining the conditions for the co-integration of technological innovations and business activity for their subsequent stimulation of economic growth. The practical examination of the impact of changes in the dynamics of complex indicators of creative development and commercial activity on economic growth is the research’s scientific contribution and novelty. Using vector error correction models, modular root testing models and other econometric methods, the author demonstrated that both business activity and innovation stimulate economic growth in the long-term. In the short-term, there are strong causal relationships, but they are not always homogeneous. The main conclusion is the fact that the results obtained by the author confirm the correctness of using the approach of determining the order of integration and the presence/absence of co-integration between indicators of innovative development, business activity and economic growth. The summary results confirm the existence of a close long-term equilibrium relationship between innovation, business activity and economic growth.

The influence of digital business on the economy and innovation development in Kazakhtan

The purpose of this study was to analyze the impact of digital transformation processes in business on economic performance and innovative development in the Republic of Kazakhstan. To achieve this goal, data covering 2013–2022 was used, and statistical analysis methods were applied. As part of the research methodology, an analysis of the level of digital activity of enterprises was carried out, as well as an assessment of indicators of innovation activity. Statistical models are used to study in detail the impact of digital transformation on the economy and innovation. The leading indicators that the analysis focused on were the level of use of information and communication technologies by businesses, access to Internet resources, and the participation of firms in ordering and receiving orders online. In addition, the share of innovative products in total GDP is considered. The results obtained indicate positive trends in the process of digitalization of enterprises in Kazakhstan. The impact of digital transformation on the economy, measured by GDP, was less pronounced compared to the impact on innovation. Key indicators, such as Internet access and ICT use, are identified that demonstrate the statistically significant impact of digitalization on business. The study recommends several measures, including stimulating innovation through digitalization, supporting the development of information and communication technologies, and monitoring and regulatory measures to support digital and innovative development in the Republic of Kazakhstan.

Trends and «Oddities» in the Evolution of Industry in the Irkutsk Region in the Space of Innovative and Destructive Disturbances

The bizarre evolution of regional industry in a disturbed environment is manifested by the features of non-linear functioning as responses to the influence of assertive factors of transformation of the world and national economy. The motley picture of the chronological series of values of basic industry indicators encourages us to evaluate and explain the observed trends, drawing attention to the «oddities» of the economic dynamics of industry in the Irkutsk region. In an effort to increase the analytics of transition processes excited in the regional economy by streams of innovative and destructive disturbances, the theoretically and practically significant task of objectifying and understanding the patterns of maneuvering of the industry of the Baikal region in a non-stationary environment is being updated. The attractiveness of research on this popular topic in order to identify and argue trends in the evolution of industry in the Irkutsk region obliges us to turn to the teachings of evolution, chaos and disasters, nonlinear dynamics and synergetics, which constitute the methodology of the research presented, for instrumental processing and interpretation of complex economic processes in industrial systems. The information and empirical basis for the research was information from federal and regional statistics, scientific publications on the problems of industrial and innovation management. In accordance with the purpose of the study, the object of study is the industry of the Irkutsk region. Scientific novelty lies in the increase in knowledge about the sources, factors and phenomena of the evolution of regional industry in the space of innovative and destructive disturbances. The article reveals the nonlinear dynamics of indices of the physical volume of the gross regional product, industrial production, investment in fixed capital, and a number of indicators of innovative activity of the regional industry. The conducted research modernizes the theoretical, methodological and applied tools for managing the development of regional industry in a non-stationary environment.

Анализ реализации проектов современных российских высокотехнологичных производств в условиях санкций недружественных государств

The article presents the results of the analysis of the implementation of projects of modern Russian high-tech industries under the sanctions of unfriendly states. The dynamics of indicators of innovative activity of Russian enterprises and the release of innovative products by them during the implementation of a number of large-scale projects is analyzed. The ratio of the costs of innovation activity to the volume of output of innovative products by Russian enterprises is analyzed.

IMPROVEMENT OF THE ORGANIZATIONAL AND ECONOMIC MECHANISM FOR THE DEVELOPMENT OF INVESTMENT ACTIVITIES IN THE AGRICULTURAL AND INDUSTRIAL COMPLEX OF SIBERIA

The relevance of the work. The relevance of the study is due to the need to develop agro-industrial production at a new qualitative level, to increase the level of food security in the region by improving the organizational and economic mechanism for the development of investment activities in the agro-industrial complex.
 Objective. The purpose of this study is the development of scientific and methodological provisions for improving the organizational and economic mechanisms of investment activity in the agro-industrial complex of Siberian regions.
 Materials and methods. The research methodology is aimed at clarifying the basic principles of the formation of the organizational and economic mechanism for the development of the food and processing industry, taking into account the sectoral features of innovative development.
 Results. In-depth studies were carried out on the organizations of the agro-industrial complex of the Novosibirsk region. The main part of the article discloses indicators characterizing the development of Russian agriculture in 2017-2020, as well as indicators of innovative activity in agriculture for 2017-2021. Shows the share of investments aimed at the reconstruction and modernization of fixed assets in Russia, as a percentage of the total investment. The mechanism of subsidizing to compensate for the costs incurred for the construction (modernization) of agribusiness facilities is considered. The main directions for improving the organizational and economic mechanism of the investment process in Siberian agriculture have been developed.
 Conclusion. In conclusion, scientific provisions are formulated to improve the organizational and economic mechanism for the development of investment activities in the agro-industrial complex.

SIMULATION OF THE INFLUENCE OF INVESTMENT AND INNOVATION ACTIVITIES ON ENSURING THE INTERNATIONAL COMPETITIVENESS OF COUNTRIES

The purpose of this work is to study the quality of the innovation-investment component of the international competitiveness of EU countries and Ukraine, to reveal the potential of innovation-investment activity in ensuring the effectiveness of the national economy, as well as to substantiate the priority vectors of leveling external shocks and promoting economic growth in Ukraine. The work evaluates the quality of the innovation and investment component of the international competitiveness of Ukraine and its close neighbors - the countries of the Visegrad Group (Poland, the Czech Republic, Hungary and Slovakia) using econometric analysis; a multifactor economic-mathematical model was built, which determines the strength of the connection between indicators of innovation and investment activity in Ukraine and the main macroeconomic indicator - GDP; the European practice of developing strategic programs to increase the competitiveness of the country's economy was studied; strategic innovation and investment initiatives of Ukraine are substantiated. In addition, the article made a significant theoretical and practical contribution to solving the outlined problems. The results of the study revealed the main problems of the innovation-investment component of Ukraine's international competitiveness, as well as highlighted the potential prospects for its improvement, taking into account advanced European practices.

Conceptual basis of activation of innovative activities of enterprises

The study is devoted to the problem of intensification of innovative activities of enterprises to solve the problems of liquidation of the consequences of the armed invasion of Russia and the post-war recovery of the domestic economy. The article analyzes the measures for successful innovation activity, formation of the relevant infrastructure, and state support. These measures, despite their number, are ineffective, as evidenced by the declining indicators of innovation activity of domestic industrial enterprises and the decrease in the number of employees involved in research and development. The reasons for the low innovation activity of domestic enterprises are analyzed, and it is concluded that the problems of innovative development of domestic enterprises depend on the ability to carry out innovative activities. It is proposed to solve the problems of innovative development of domestic enterprises by creating tools for managing innovation activities. These tools are able to provide conditions for: intensification of activities, orientation to the needs of consumers of innovative products, creation of opportunities for interconnection of participants in innovation activities, attraction of necessary financing. The author proposes a mechanism for ensuring the development of innovation activity based on elements of systemic, process and functional approaches, which allows choosing methodological tools, forming and technologically solving functional tasks. It is recommended to improve innovation activities by: forming organizational guidelines, which will allow to coordinate and regulate the ways of interaction between subjects and objects of management; coordinating external and internal development factors, which will allow to form the conditions for intensifying innovation activities; implementing management technologies, which will allow to carry out systematic and purposeful management of the development of innovation activities of an enterprise. The introduction of the proposed mechanism will facilitate the interaction of the state, science and industry within the framework of the exchange of knowledge and results of innovative activity, providing a basis for the formation of an innovative economy by activating the innovative activity of an individual enterprise.

Devising a systematic approach to the implementation of innovative technologies to provide the stability of transportation enterprises

This paper reports a study of the main key components of influence on the stability of transportation enterprises in the market. A model for evaluating the effectiveness of innovation activity in the transport industry, which takes into account indicators of expenditures on innovations, has been built. It makes it possible to determine the effectiveness of introduced innovations, which indicates the appropriate level of innovation potential and the ways that the enterprise must take to increase it. The main directions of innovative development of transportation enterprises were investigated. The assessment of the economic stability of transportation enterprises in the market has established that the current state of development of enterprises is characterized by a weak level of their innovative activity. A systematic approach to the introduction of innovative technologies by a transportation enterprise in the market has been devised. This approach makes it possible to determine the required level of enterprise stability and to form a relationship between the level of innovative technologies and their stages of implementation under conditions of environmental variability. This makes it possible to increase competitive advantages, improve the efficiency of production and economic activity of enterprises. The practical implementation of the proposed model for evaluating the effectiveness of innovation activity in the transport industry has been carried out, which made it possible to allocate the most important indicators of innovation activity for the enterprise. These include specific efficiency of innovation; unit costs of innovation; innovative potential of the enterprise (defined as the proportion of own innovative developments). According to the study results, it is determined that the specific efficiency of innovations (SEI) exerts the greatest influence, which, with an increase by 1 %, provides an increase in financial stability by 1.48 %

The role of digital companies in the transformation of the Russian economic model

Subject. The article deals with the transformation of the Russian economic model. Objectives. The purpose is to test the hypothesis about the impact of companies generating high added value (digital companies) on the economic model of the country. Methods. The study rests on general scientific principles and research methods, like abstraction, generalization of approaches of domestic and foreign authors to industrial policy, and the economic analysis. Results. I analyzed characteristic features of companies operating in industries with high and low generated added value, offered a five-stage methodology for assessing the key characteristics of companies. At the first stage, the production function of companies is investigated to determine the impact of the return on the resources involved and the presence of a multiplicative effect on the scale of the country's economy. At the second stage, the indicators of volatility, growth, marginality are analyzed to determine the impact of these characteristics on the dynamics of GDP. At the third stage, indicators of investment and innovation activity are calculated to assess their impact on the level of investment in the economy. The fourth stage is devoted to the analysis of the financial activities of companies, including their ability to attract external equity and debt capital, and to the evaluation of the distribution policy, which enables to conclude on company’s ability to attract resources for development. At the fifth stage, the capitalization rate and expected rate of profit growth of companies are evaluated to assess their investment attractiveness. Conclusions. The calculations performed on the basis of financial and non-financial statements of PAO MMC Norilsk Nickel and Yandex for 2022 lead to the conclusion that companies in industries generating high added value (digital companies) provide a multiplier effect, contribute to accelerating economic growth, increasing competitiveness, and improving the country's economic model. However, for the sustainable development of these companies, an industrial policy is needed to support and stimulate them.

Innovative development of high tech industrial complexes at the meso-level

The issue of developing meso-level innovative ecosystems is so urgent due to the tasks of creating an autonomous independent economic system in the country, working out its own technologies, establishing technological, scientific and industrial independence. The urgency is also confirmed by the results of the analysis of characteristics and indicators of innovative activity of high tech companies. This background as well as evaluation of effectiveness of the government support of innovation, systematization of national and foreign studies devoted to the role of mesoeconomics in economic and technological growth of the regions and the entire state allow to justify the significance of meso-level development of high tech industrial complexes. The author suggests concentrating the efforts and tools of innovation, industrial and regional policies on the regional centres of development whose activities are aimed at maintaining the multiplicative effect of technological, information, social, infrastructural interconnection of the businesses, organizations, authorities and society. On the example of the Novgorod region, the author studies the components of high tech industrial complexes at the meso-level (object-, process-, system-, and project-related), characterizes the mechanism of development of industrial complexes of high tech sector at the meso-level and schematically shows how creation and development of the complex influences the growth of the indicators of innovative development of the region.

Innovative activity in the basic metals industry: comparative analysis with EU countries

Methods. In the process of studying innovation activities in the basic metals industry of Ukraine and European countries, methods of analysis and synthesis, empirical methods, induction and deduction techniques, graphical, logical and tabular methods were used. The methodological basis of the study was the methods of comparative analysis and observation, which made it possible to assess the current state of innovative activity in the basic metals industry of Ukraine. The graphical method made it possible to visualize the results of the study. Results. The use of comparative analysis made it possible to assess the current state of innovation activity in the basic metals industry of Ukraine in comparison with European countries. A comparative analysis, based on key indicators of innovation activities of industrial enterprises, was carried out. These indicators include the number of innovation activities of industrial enterprises; enterprise innovation expenditure of industrial enterprises; the number of introduced technological processes of industrial enterprises; the number of introduced innovative products (goods, services) of industrial enterprises; and total turnover from innovation activities of industrial enterprises. The analysis was carried out using public statistical data from the State Statistics Service of Ukraine and the statistical office of the European Union. It is revealed that innovation activities in metallurgical industry of Ukraine in terms of key indicators is significantly lower than in European countries. The main problems of functioning of the metallurgical industry of Ukraine are identified as part of the global industry. Novelty. There are proposed the main directions for improving innovation policy in the manufacture of basic metals to increase its competitiveness in the world market. Practical value consists in developing proposals to improve innovation policy in the basic metals industry. The results of the study can be applied for further research of innovation activities in metallurgical industry of Ukraine.

Patents as Real Options: A Sensitivity Analysis of Option Valuation Using the Binomial Model

Using the real option approach and the binomial decision tree model, patent value is discussed in terms of how patent protection gives firms flexibility in making investment decisions on whether or how to continue exploiting the underlying invention in the commercialisation phase. The results of this paper, in agreement with predictions of current financial theory, indicate that patent real option value increases when the following input factor conditions exist: increased patent asset value, longer time to the expiration of patent protection, higher interest rates, larger variability of future values of the patent asset, decreased patent commercialisation investment, and lower cost of delay in commercialisation investment decisions. Furthermore, patent real option value sensitivities are estimated for each of these input factors of the binomial decision tree model. More broadly, the paper provides a novel valuation tool for the monetary appraisal of patents and contributes to the IP literature on devising timely indicators of innovative activities.