Innovative Activity Of Companies Research Articles

Factors influencing the level of Social Responsibility of marine tourism companies and restaurants: The island of Fuerteventura

This research aims to analyse the factors that affect the level of commitment to Corporate Social Responsibility (CSR) of marine tourism companies and restaurants. This commitment can be conditioned by economic reasons, stakeholder pressure, difficulties in implementing socio-environmentally responsible actions, and adaptation to change, as reflected in the innovative activities of companies, as well as by the degree of collaboration with public and private agents. This study was carried out on the island of Fuerteventura. A Likert scale questionnaire with 39 items was designed to collect the data, which was processed using a combination of factor analysis and multiple regression analysis. The results show that innovation, stakeholder pressure, and economic reasons have positive effects on companies’ commitment to CSR, while poor collaboration with public and private actors and implementation difficulties have negative effects. Given that this sector is highly regulated and depends on different public authorities to carry out its activity, collaboration with the public administration must be improved to reduce barriers for companies and their activities. Moreover, when an island’s economy depends almost exclusively on tourist activity, it is essential to develop responsible tourism. This requires public authorities that organise and promote sustainable uses of the territory, while encouraging dialogue and facilitating mechanisms for private initiatives, as well as socio-environmentally responsible companies.

The organizational and economic mechanism of attraction of digital technologies in the innovation activity of companies in the conditions of international competition

The article is dedicated to the analysis of the organizational and economic mechanism of the participation of digital technologies in the innovative activities of companies in conditions of international competition. The theoretical and methodological basis of the study are the provisions of economic theory, the theory of innovations, the digital economy; as well as the special methods of analysis and synthesis, induction and deduction, scientific generalization, which allowed to obtain a conceptual holism of the investigation. It has been studied that the concept of organizational and economic mechanism must be understood as a system of really functional organizational, economic and legal instruments, which in a complex way determine the result of the companies' activities, and which includes the regulation of the internal economic mechanism, the general operating mechanism of companies and their innovative componentwith the participation of digital technologies.

THEORETICAL FRAMEWORK OF INTERRELATIONSHIP’S INNOVATIONS, BRANDS OF COMPANIES AND TERRITORIAL DEVELOPMENT

The territorial development is connected with innovative activities of companies. The intangible assets, in particular, brands of companies, form an additional factor in strengthening the impact of innovation on the territorial development, and thus increases the efficiency of the latter. The aim of research is to develop the theoretical framework of itinterrelationship’s innovations, brands of companies and territorial development. It was used methods of analysis, synthesis and system approach. It was found, that the main indicators of the interrelationship’s framework "innovations-brands of companies-territorial development" are: 1) innovative indicators of companies: the number of innovations, the number of implemented innovations, the number of patents; 2) financial and economic indicators of the company: expenses for the promotion of the company, brand value, revenue, taxes; 3) indicators of the territorial development: the budget of the territory, the GDP of the territory, the number of business entities located in the territory; the number of business entities registered in the territory. More innovative companies have a higher brand value, realized in higher demand for products, increased revenue, and, therefore, the amount of taxes that come to the territory's budgets. A larger territory budget determines the regional economic capacity, expanding opportunities and directions of development.

Attitudes and Involvement of Employees in the Process of Implementing Innovations and Changes in Companies.

The main goal of the paper is to evaluate the perception and acceptance of change by human resources in companies in Slovakia and to propose specific recommendations to increase the involvement and active approach of business representatives in the interest of business sustainability. Based on the set goal, the issue of perception and attitudes of employees were evaluated through data obtained by a questionnaire survey through a sample survey in 816 companies operating in the Slovak Republic. The obtained data were analyzed using association analysis by application of the independence test based on formulated hypotheses and the found dependencies were presented by correspondence analysis. Innovative activities of companies do not always have to be perceived only positively by employees and it is also appropriate to consider the opposite behavior of employees. To minimize adverse events, we recommend companies formulate appropriate strategies to reduce and overcome the effects of negative attitudes to organizational change and then implement them appropriately, which is essential for the successful implementation of innovative practices.

Features of the implementation of the innovative modelof economic growth of the Republic of Kazakhstanin a new global reality: financial aspects

The article is devoted to solving the problem of financial and investment support of the innovative model of economic growth of the Republic of Kazakhstan through the improvement of the mechanism and diversification of sources of financing of this process, taking into account world experience. In the course of the analysis, it was revealed that the main factors hindering the increase in innovative activity of companies are: the high cost of innovations, insufficient own financial resources and unacceptable financing and lending conditions. In this regard, the problems of improving the mechanism and diversification of sources of financing investments in innovation are key for Kazakhstan. The analysis of the state of innovation activity of Kazakhstani companies, the structure and dynamics of changes in sources of financing for research and development (R&D) in 2015-2020 in the Republic of Kazakhstan showed that, in general, the volume of investments in fixed assets of industry, and, in particular, the introduction of innovations and new technologies is unacceptably small. In addition, the structure of internal R&D costs and the structure of investments in innovation, carried out at the expense of the state and private investors, is imperfect. In this regard, measures are proposed to financially stimulate the introduction of innovations into production, improve the mechanism and diversify the sources of innovation financing, taking into account world experience.

Инновационно-инвестиционные проекты в современной экономике и эволюция методик их оценки

The presented article devoted to the development of the methodology for evaluating innovation and investment projects, taking into account their nature in the modern economy. The main goal of innovation and investment projects is to achieve advantages through the possession and use of innovative solutions in the activities of the subject of investment. In this case, one should take into account the importance of assessing both from the point of view of innovative efficiency (the degree of novelty and additional profit due to the introduction of innovation into the business processes of the subject of investment), and the overall investment efficiency (assessed by means of investment analysis tools).
 In the modern economy, the achievement and retention of competitive advantages is a basic precondition for the successful functioning and development of any business. As for companies in the oil and gas sector, there is a certain industry specificity: with the depletion of easily accessible hydrocarbon reserves and during the period of parallel development of alternative energy, innovations (and often disruptive ones) ensure the survival of companies and the ability to remain in the energy market due to timely and relevant technological solutions. And building up competitive advantages requires even higher innovative efficiency. Therefore, the development of the methodology for evaluating innovation and investment projects is presented from the point of view of the outstripping rate of innovative activity of companies in the oil and gas industry.

Dual use inventions: identification and characterization using patent data

ABSTRACT This study focuses on the spillover from the outcomes of military R&D to subsequent civil applications. We aim to identify the characteristics of those military innovations that are more likely to be exploited in civilian areas (i.e. dual use) and we build on previous literature to develop a methodology to identify such cases. Using both patent and citation data, we investigate country effects and invention-level characteristics that increase the likelihood to observe a military-to-civil knowledge spillover. We test these relationships by estimating probit, survival, and competing-event models on a large sample of military inventions filed between 2002 and 2012. Our results indicate that the incidence of dual use decreases during the period analysed and is heterogeneous across both technologies and countries. Military inventions having wider technological and geographical scopes are more likely to be cited by subsequent civil patents but military-to-civil spillovers occur later than military-to-military ones. Finally, the first dual use application of a military invention tends to appear within the country boundaries, suggesting that cross-border knowledge spillovers are not immediate. Our evidence is functional to the assessment of the potential indirect effects generated by the innovative activities of companies operating in the defence sector on the civilian sectors.

Temporal motifs in patent opposition and collaboration networks

Patents are intellectual properties that reflect innovative activities of companies and organizations. The literature is rich with the studies that analyze the citations among the patents and the collaboration relations among companies that own the patents. However, the adversarial relations between the patent owners are not as well investigated. One proxy to model such relations is the patent opposition, which is a legal activity in which a company challenges the validity of a patent. Characterizing the patent oppositions, collaborations, and the interplay between them can help better understand the companies’ business strategies. Temporality matters in this context as the order and frequency of oppositions and collaborations characterize their interplay. In this study, we construct a two-layer temporal network to model the patent oppositions and collaborations among the companies. We utilize temporal motifs to analyze the oppositions and collaborations from structural and temporal perspectives. We first characterize the frequent motifs in patent oppositions and investigate how often the companies of different sizes attack other companies. We show that large companies tend to engage in opposition with multiple companies. Then we analyze the temporal interplay between collaborations and oppositions. We find that two adversarial companies are more likely to collaborate in the future than two collaborating companies oppose each other in the future.

ОРГАНІЗАЦІЙНО-МЕТОДИЧНІ ЗАСАДИ ВНУТРІШНЬОГО АУДИТУ ІННОВАЦІЙНОЇ ДІЯЛЬНОСТІ ІТ КОМПАНІЙ

The article updates the consideration of the innovation process as a separate subject of attention, part of the internal audit plan of IT companies that consider innovation as an important element of the development strategy. The purpose of the article is to review and systematize the organizational and methodological principles of internal audit of innovative activities of IT companies. Achieving this goal is conditioned by the need to expand control and supervisory tools in order to strengthen rationality, transparency, and responsibility in the innovative activities of these companies. As a result, the organizational and methodological principles of the internal audit of innovative activities of IT companies were systematized. As the main goal of the internal audit of the innovative activity of IT companies, the need for the formation of guidelines for making innovative decisions, as well as the outline of the ways of the innovative development of the IT company, has been determined. The scope of coverage of the internal audit of the innovative activity of the IT company has been determined. The need to expand control and supervisory tools with the aim of strengthening rationality, transparency, and responsibility in the innovative activities of IT companies has been identified. It is shown that the methodology of auditing the innovative activity of an IT company should include policies and procedures available for implementation in the conditions of specific companies, which ensure the protection of the assets of the business entity, the accuracy and reliability of its reporting, and prompt compliance with management standards. It is noted that the use of an audit sample in audit tasks gives auditors certain advantages defined in the article. The toolkit and procedures related to the formation of audit reports are characterized, which are expedient to implement in the process of internal audit of innovative activities of IT companies in view of the specifics of their activities. The results of this study are a prerequisite for the development of methodological tools for the audit of innovative activities in the IT sphere.

Prospects of venture investment innovative activity in modern conditions of sustainable development

Sustainable development of the country's economy depends on the level of innovation of each enterprise. Enterprises have an unsatisfactory level of innovative development and their strategies do not meet the goals of sustainable development, which is a consequence of many years of erroneous approaches to the management of enterprises and the country's economy. In modern conditions, venture investment is able to overcome the negative trends caused by insufficient funding, low level of interest of business management in innovations with a high level of risk. The paper substantiates the relevance of attracting venture capital for the development of innovative activities of enterprises. It is analyzed how venture investment differs from the usual. The current state and trends of venture investment in Ukraine have been carefully studied. Problems and obstacles to the functioning of the domestic venture business have been identified. Based on the obtained research results and taking into account the best foreign experience, a comprehensive step-by-step technology of attracting venture capital by innovative enterprises on the basis of sustainable development has been formed. The stages of venture financing and the activity of a venture company in general, mechanisms and incentives for increasing interest in the implementation of innovations in accordance with the goals of sustainable development at the enterprise level are considered. The influence of venture entrepreneurship on the innovative activity of companies is investigated. Also, attention is focused on how the venture manager manages the organization. The ways of formation, disadvantages and advantages of using venture capital at the globalized stage of development as a means of promoting new products and technologies on world markets in the context of sustainable socio-economic development are proposed. The paper considers the current state of venture investment and identifies areas for further development in the development of socio-economic system.

A NOVEL PERFORMANCE EVALUATION FRAMEWORK FOR NEW SERVICE DEVELOPMENT IN THE HEALTHCARE INDUSTRY USING HYBRID ISM AND ANP

Today, the innovative activities of companies in new service development (NSD) have an undeniable contribution to the economic development of countries. Given the recent advances in the healthcare industry, the issue of NSD and performance management of firms operating in this industry has received special attention of researchers and decision makers. A review of previous research shows that on the one hand there is no agreement among experts on NSD performance measurement criteria and on the other hand there has been no systematic framework that can measure and manage firm performance in this area. The proposed framework should allow for interaction between different decision makers, considering multiple and sometimes conflicting criteria. In this regard, this paper aimed to provide a framework to assess the NSD performance in healthcare industry using multiple-criteria-decision-making methods. The proposed model consists of 17 different criteria that have been identified and finalized based on previous studies as well as experts’ opinions. Then, the indicators are classified with the help of experts in the form of a balanced scorecard model and presented as an initial model. Due to internal relationships between criteria, this model was evaluated using interpretive structural modelling and modelled at 5 different levels. Then, the analytic network process approach was applied to determine criteria weights. Finally, new service development performance in Moheb hospital was evaluated through the framework proposed here.

ESTIMATION OF THE SHARE OF INNOVATIVE GOODS, WORKS AND SERVICES BY RUSSIAN REGIONS AND TYPES OF ACTIVITY

Innovative activity of companies provides one of the most important directions of development of modern national economies. The purpose of our research is to assess the specific weights of the production volumes of goods, works, and services classified as innovative in the total production volumes of all organizations located in each of the regions of Russia, as well as those specializing in various types of economic activities. The study was based on official statistical information for all 82 regions of Russia and 45 types of economic activity. Economic and mathematical models describing the share of innovative goods, works, and services in total production volumes by region and industry have been developed. It is proved that the average share of innovative products for the period under review was about 5% of all manufactured products. It is shown that the values of the indicators were significantly differentiated by region and industry. The regions and types of economic activity with the maximum and minimum values of the share of innovative products are identified.

The promotion of leasing in oilfield services as a mechanism for the innovative development of the oil and gas industry

Subject. This article focuses on the oilfield service market and innovative development mechanisms for Oil & Gas in particular. Objectives. The study provides the rationale for leasing as a practical mechanism for encouraging the innovative activity of Oil & Gas companies. Methods. The study is based on methods of the analysis, systematization, comparison and matching. Results. We report on the analysis of the development of the oilfield service market as a crucial constituent of the oil and gas industry. The article presents indicators and trends in the development of the oil and gas market worldwide and in Russia. We describe distinctions of the oilfield service market, classify key lines of activities in the industry. The article spotlights key issues of the oilfield service market and displays the current factors shaping trends in the oilfield market development. We analyzed innovation indicators in the industry, the applicable lease schemes, and classified lease companies operating in the oil and gas market. Conclusions and Relevance. The predominance of short-term contracts turns to be a key issue of the oil and gas industry, since companies cannot be assured that technical retrofitting costs be repaid and justified. There should be further research into the practical potential, expanded development and practical guidelines for leasing schemes in the oilfield service market, which will push the innovative activity of companies operating in the industry.

THE RELATIONSHIP BETWEEN THE PERSONAL CHARACTERISTICS OF THE CEO AS "RISKINESS" AND THE INNOVATIVE ACTIVITY OF THE COMPANY

An important role in the functioning of the economy and in the analysis of the competitiveness of companies is played by the top management echelon, represented by charismatic CEOs, who often determine the direction of company development, considering the specifics of everyday life and general organizational processes. There is a transformation of the stages of value formation, the zones of profitability are shifting, new players are emerging – all this creates a completely different ratio of shares in the industries, greatly accelerating the generation and implementation of new ideas and developments. Companies must respond to new technologies in a much riskier way and understand that the time stage of their implementation should be reduced. The article analyzes the position of the personal characteristics of CEOs, in particular, such qualities as "riskiness", and their impact on the innovative activities of companies. The object of studying this relationship is the world-class CEO as an example of successful implementation of innovation through the ability to take risks in a timely manner.

Access to Finance as a Driver Innovation

Innovation accelerates economic growth and becomes the key to success in the new post-industrial paradigm. The more innovation, the more a country's prosperity grows. Innovation is a risky and costly type of activity, so it requires significant financial resources attracted from different sources and by different methods. Traditionally, the entrepreneurial sector, which has sufficient amounts of various resources, is the most innovatively active. At the same time, the innovative activity of companies is under pressure from a number of factors. The purpose of the article is to analyze the factors influencing the innovative activity of industrial enterprises in Ukraine and to identify the relationship between the volume of innovation and economic growth of the country. For the analysis there were used the methods of descriptive, comparative and correlation and regression analysis. The sample is created at the basis of data from statistical reports on the research and development activities of economic entities in Ukraine for the period 2000-2019.It has been revealed that there is a steady decline in the number of workers in the innovation sphere in Ukraine, and compared to European countries, these indicators are much lower and tend to decrease further. This affects the place of Ukraine in the global ranking of innovation in a negative way. It is confirmed that there is a direct positive significant relationship between the costs of innovation and bank loans and foreign direct investment in the capital of Ukrainian companies, confirms the thesis of funding as a driver of innovation. It is confirmed for Ukrainian content that there is a positive relationship between innovation and economic growth.

Digital Intellectual Capital of Russian Companies and its Impact on Financial and Innovation Performance

The paper aims to investigate the level of accumulated digital intellectual capital and investments in digital transformation in the Russian regions and study its impact on the gross regional product and companies’ revenue, as well as on the innovative activity of companies. The study relies on the multiple regression method to find significant relationships between digitalization and performance indicators in 85 Russian regions and cities of federal significance. The originality of the approach used in this study lies in the development of the digital capital theory: the authors assess the impact of accumulated digital intellectual capital and investment on the performance of manufacturing and service companies and show the difference in return on investment between sectors. The results of the study show that though Russian regions are at the initial stage of the digital economy development, digitalization has a significant positive impact on the financial and innovative performance. Manufacturing companies primarily use structural capital to create customer value. Service-oriented companies also receive a positive return on investment in human and relational capital. The results obtained can be applied in practice by the business community to support investment decisions and analyse the processes of creating digital intellectual capital in companies.

Formal and Non-Formal Education and Training As an Instrument Fostering Innovation and Competitiveness in EU Member Countries

An important role in economic development and competitiveness is played by human capital, that is believed to lead to the growth of innovation. The innovative activities of companies, with a well-educated workforce as an essential component, are a necessary condition for any economy to achieve a competitive advantage in the international arena. The study objective was to investigate the relationship between the type of education (formal or non-formal) of individuals aged 25-64 and the level of innovation in the European Union member countries. The study uses data provided by Eurostat from three international surveys: The Labor Force Survey (LFS), Adult Education Survey (AES) and Community Innovation Surveys (CIS). The econometric analysis was carried out using tobit regression models. The study shows that innovation levels of EU countries, as measured by the synthetic SII index strongly depend on 1) the share of people with tertiary education undertaking additional formal or non-formal education, 2) the share of employees undertaking additional formal education, and 3) the share of persons undertaking additional formal or non-formal education. Among the variables studied, the smallest impact on the innovativeness of economies was that of the share of persons undertaking additional formal education. The results indicate a significant and positive role of additional education in increasing the level of innovation and competitiveness in the EU economies.

The Foresight Methodology in Strategic Planning at Regional Level

Purpose: The article aims to use foresight as one of the most effective tools for long-term forecasting of regions and industries development, and the formation of future maps with the subsequent development of scenarios of strategic development of the region. Design/Methodology/Approach: The use of foresight in Europe and the USA, as well as the prospects for its use in Russia for the purpose of regional strategic planning is to identify those factors that influate the economic development at the regional level, to reflect the main advantages and disadvantages of foresight methodology and to formulate recommendations on the implementation of foresight methodology in the region. Findings: A structural-logical scheme for foresight research at regional and sectoral levels has been formed, which will provide an opportunity to improve the methods and technologies of strategic development in an unstable economy as in the example of Russian regions. A scheme of the foresight study was proposed by the authors to attract investors to the regional development projects. In authors’ opinion the influence of sectoral and regional perspectives and the innovative activity of companies in various industries will help to create reserves and a base to ensure the economic sustainability of the analyzed regions. Practical Implications: The results may be implemented into managerial practices in order to improve and increase the effectiveness of regional strategic planning. Originality/Value: The main contribution of this study is in the shift of emphasis on conceptualizing and incorporating the foresight methodology to the theory of strategic planning at regional level.

Possibilities and perspectives of strategic planning of socio-economic and technological development of a region with the usage of the foresight methodology

Due to the global tasks of transition of the Russian economy to high technologies and the necessity for improvement of the material and technical basis in the new conditions of the modern market, it is supposed that foresight could become an effective tool of implementing the necessary structural shifts that stimulate the creation of the innovative level of the Russian market. The authors substantiate the necessity for development of a scenario of creation of the organisational and economic system at the level of a territory, which would perform transformation of all existing sectorial and regional resources into the products of innovative activities of companies, which would be the basis for provision of investment attractiveness of Rostov Oblast and the innovative activities on its territory, as well as strengthening the competitive potential of the analyzed region.

Выбор приоритетов развития инновационной деятельности организаций нефтегазового комплекса: методический подход

Выбор приоритетов развития инновационной деятельности организаций нефтегазового комплекса: методический подход