Innovative Development Of Economy Research Articles

Merchant guild culture and innovation: evidence from China

ABSTRACT In this study, we explore the implications of merchant guild culture for corporate innovation. We find that merchant guild culture significantly improves corporate innovation, particularly strategic innovation. Further analyses show that merchant guild culture promotes corporate innovation by alleviating financing constraints and curbing earnings management. The results of the heterogeneity test show that the positive effect of merchant guild culture on innovation is more significant in firms owned by non-state, with high integration of foreign cultures, high government subsidies, and higher marketability. In addition, the stronger merchant guild culture influence is, the more innovation affects firm profitability and productivity. Collectively, our results suggest that merchant guild culture is a driving force that promotes trust and cooperation between firms. Therefore, merchant guild culture can effectively enhance innovation and performance as well as exerting a positive influence on innovative economic development.

Modeling the number of university graduates for the development of the economy of the Kemerovo region

In the conditions of innovative economy development, the formation issues of the personnel and research potential of the region at the expense of local universities’ graduates are of particular importance. The article puts forward and confirms the hypothesis that a number of socio-economic development indicators of Kemerovo region significantly affect the number of graduates of regional universities, which can be predicted considering changes in these indicators. With the help of the created model, it is possible to study the impact of each of the arguments of the model on the number of university graduates, predict their dynamics, identify targets for the management decisions development in the field of regulating the number of young specialists with higher education (necessary for the regional economy), as well as formulate strategic planning tasks and assess university development the potential. The results of the study can be used by structural divisions of the Government of Kuzbass, the leadership of universities and organizations of the Kemerovo region.

Professional standard «Agronomy» in the context of employer's requests

Introduction. In the article, the authors drew attention to the fact that the development of modern agriculture is aimed at finding new ways and methods to increase land productivity and raise farm animals. In the current situation, the interaction between real production and science comes to the fore. Science should provide domestic enterprises with high technologies. However, there is a large gap between universities and the real sector of the economy.Purpose setting. Compliance of the competencies of graduates with the requirements of employers is becoming a modern trend in the development of agricultural education. In the conditions of innovative economic development, the labor market needs specialists who can work in various professional environments and have a high motivation for retraining.Methodology and methods of the study. The secondary analysis of sociological research data on the compliance of the level of professional training of graduates of agricultural universities with the production requirements of today is compared with the results of a sociological study of students of Nizhny Novgorod Agrotechnological University.Results. The researchers not only identified a set of problems inherent in modern agricultural education, but also described specific competencies (according to the federal state educational standard in the area of training «Agronomy» (FGOS 3++), which do not meet the needs of the leading stakeholders of agricultural production, revealed the inconsistency of the subjects of the educational process in understanding and broadcasting professional qualifications.Conclusion. The authors believe that the results obtained determine the relevance of the rights of agricultural universities to make their own adjustments to the formation of the qualifications of graduates.

Research on the Influence of FDI on China’s Economic Innovation Development

Foreign direct investment (FDI) and outward foreign direct investment (OFDI) are the primary methods through which capital moves internationally. They serve as significant conduits for technological spillover, which is vital for the progress of countries and regions. Through the combined impact of the growth in foreign direct investment and the two-way flow of FDI, China may enhance its access to various production resources, including labor, capital, and energy. Additionally, this enables China to improve the distribution of intangible assets such as knowledge and technology. Consequently, there is an urgent need to establish and implement a strategy that prioritizes innovation-driven development.This study utilizes China’s provincial panel data from 2000-2020 to examine the relationship between the expansion of foreign direct investment (FDI) and the level of innovation. The regional innovation index is used as the dependent variable, while the FDI scale is used as the independent variable. Additionally, a model is employed to test the impact of China’s FDI scale expansion on regional innovation capacity. Simultaneously, this study takes into account the disparities in development between the eastern region and the central and western regions, as well as the influence of the Pilot Free Trade Zone policy. Consequently, the sample is further categorized into the eastern region, central region, and western region for a more detailed analysis. Relevant countermeasures are provided based on the results of the empirical analysis mentioned above.

THE ROLE OF GLOBALISATION IN THE STRATEGIC DEVELOPMENT OF UKRAINIAN ENTERPRISES

The article analyses the characteristics, criteria and various factors influencing the impact of globalisation on economic development and business activity in contemporary Ukraine. At present, society is facing new goals, tasks and requirements, which are largely determined by scientific and technological progress, implementation of innovative technologies and the need for a certain degree of flexibility, resilience and adaptation to dynamic changes in the economic sector. At this stage, financial stability and prosperity are among the most important values in the modern world, and this is driving the interest in studying the peculiarities of innovative economic development. At the same time, globalisation issues remain understudied and require an analysis of specific "parallels" between past and present outcomes. This analysis helps to identify the "gaps" and "risk zones" within the global market, which is crucial for all countries participating in these market relations. The subject of the study is globalisation as a driving force for the development of enterprises in Ukraine. An assessment of the dynamics of the crisis' impact on Ukrainian business, based on a survey conducted by EKONOMICHNA PRAVDA in 2020-2023, leads to the following conclusions: approximately 25% of the establishments that existed and successfully operated in Ukraine before 2020 have closed; the quarterly drop in revenue in the most successful restaurants is approximately 30-35%; staff loss or shortage is about 48%; and approximately 80% of establishments are experiencing logistical problems (Business and the Crisis in Ukraine). The purpose of the research is to assess the current state of development of enterprises in Ukraine and to study potential opportunities for optimising their activities in view of globalisation. Methodology. Definition of conceptual apparatus, analysis, synthesis and synthesis of information on the relevant issue. Conclusion. The destructive and destabilising processes that pose challenges to the development of Ukrainian businesses are characterised by a high degree of risk and uncertainty in the context of Russia's full-scale war against Ukraine. The following components must be taken into account: political factors: an unfavourable situation caused by military aggression, the need for additional alerts in case of emergencies and to ensure the safety of customers; additional expenses: generators, security systems and video surveillance; economic factors: rising prices of domestic goods and products; the need to create a new service concept that stands out from the competition.

Threats to tax security of the region in conditions of innovative economy development (the Vologda Oblast case)

Subject. The article deals with assessment of threats to tax security of the Vologda Oblast in the context of innovative economy development. During the development of the country’s technological sovereignty and innovative economy to resist the pressure of Western countries, it is critical to determine possible directions for improving the tax security of regions. Objectives. The study aims to analyze the impact of conditions for innovative economy development on tax security of the region, using the Vologda Oblast case. Methods. We employ special economic methods, including structural and dynamic analysis, analysis of tax base formation for taxes. Results. The paper presents our own definition of the concept of tax security of the region. It shows that in order to ensure the tax security of the region, the tendency to establish a regional budget based on corporate income tax is negative. We proved that innovative economy development with intangible assets on the balance sheet of enterprises will be a threat to tax security of the region, since their amortization will reduce the taxable income tax base. Using the PAO Severstal case, we demonstrate the possibility of enterprises to legitimately reduce the tax base for corporate income tax through managing the structure of net income and increasing the share of amortization. Conclusions. In conditions of innovative economy development, personal income tax should become the main tax that forms the budget of the region. The findings can be used by government authorities when planning the regional budget and establishing tax benefits.

Повышение эффективности приложения профессиональных компетенций специалистов старших возрастных групп в условиях перехода к Индустрии 4.0

The article is devoted to discussing the issues of improving the efficiency of using senior age group specialists’ competencies in the conditions of innovative economic development while transiting to Industry 4.0.
 The paper analyses the causes of senior age group workers’ vulnerability conditions associated with the subjective characteristics of their age group and leading to various manifestations of age discrimination in the open labour market. One of the main causes for such vulnerability is a deliberately underestimated assessment of their own competencies, which forces senior age group specialists to accept job invitations that do not correspond to their qualifications. The reasons for the systematic underestimation of their self-esteem are the constant feeling of external pressure from younger colleagues and management, as well as the inability to conduct an independent objective assessment of their own position in the labour market.
 Based on analysing foreign experience of successful integration of senior age group specialists’ competencies into the innovative economy, the paper states the proposals for forming a comprehensive solution to such a problem, taking into account the domestic labour market realities. At the same time, one of the necessary areas of work is creating information solutions that allow specialists to correctly assess their position in the labour market, one of which, built by the authors and based on the precedent analysis, is described in sufficient detail in the work.

DESIGN THINKING IN THE VISUALIZATION OF ECONOMIC DEVELOPMENT PROJECTS IN THE AGRARIAN SPHERE: SCIENCE AND ART

The article represents an attempt to comprehend the possibilities of applying general methodological principles of design thinking in the process of planning and developing innovative economic development projects in the agricultural sector. The relations of design and visualization as the science and art processes in the economy are outlined. It is noted that smart agriculture uses advanced technologies such as sensors, devices, machines and information technology, robots, GPS technologies, which will allow farms to be more profitable, efficient, safe, and environmentally friendly. The authors claim that the goal of digitalization of agriculture is to achieve a significant increase in the efficiency and sustainability of its functioning through fundamental changes in the quality of management of both technological processes and decision-making processes at all levels of the hierarchy, based on modern production methods, and the further use of information about the state of controlled elements and subsystems, as well as states of the economic environment of agriculture. Based on a study of the use of visualization technologies within the framework of the philosophy of design thinking, it is shown that the introduction of digital technologies in the agro-industrial complex will dramatically increase labor productivity and reduce risks in agriculture. In modern conditions of intense competition, digitalization based on such projects will give the agricultural sector of any country (which is especially important for developing countries) great competitive advantages.

Education Policy of 3RD Generation Universities

Background: One of the tasks of the education policy of any state is the spread of its influence in the international arena. Today, universities are striving to take and strengthen their positions in the world ranking systems, demonstrating the status and reputation of universities in the global market of educational services. This ranking serves as a guideline for future students and their parents when choosing a place to receive a prestigious education and in the formation of individual trajectories of vocational training. Approach: There are several approaches in the world to determining the criteria for assessing a state's education policy. But despite the differences, they all document the growing role of modern universities in the development of society. In many respects, it is important both in terms of guaranteeing the sustainability of society and in terms of ensuring a breakthrough direction in its development. In contrast to recent times, this role has grown significantly. Due to the fairly conservative and limited social system in its function, such universities become a central link in the development of innovative economies and social spheres - the science that produces the socio-economic development of a particular region, Education, innovation centers, national or as well as global processes. Results: It covers all areas of the university, from cooperation with students to financial and scientific activities. A prime example of such an association is the International Strategy Advisory Service (ISAS 2.0) of the International Association of Universities or Universities (IAU). Conclusions: Around the world, states are trying to stimulate and support these processes. In many countries, this is facilitated by opposition from high-tech companies to the reduction of the final amount of independent basic and applied research, in favor of collaborating with universities on basic research projects. As part of its innovative activities, University 3.0 is involved in supporting business activities, analysis and consultation by experts from local governments and local authorities, opening facilities, and infrastructure for citizens, monitoring regional development, services to citizens are provided for lifelong learning and support student entrepreneurship projects that take into account the interests of the community.

Managing Creative Skills to Increase the Economic Efficiency of Industrial Organizations

Economic variations have generated the need for the request of innovative management and management methods and approaches that would advance employees’ different thinking "problem solving ability" and mobilize their original potential. Creativity becomes one of the main managerial abilities. Therefore, the article deals with the concept of creative skills management systems of industrial enterprises. The main goal and tasks in the management of creative skills, and the ways of management decisions .also, the model of an industrial enterprise's creative skills management subsystem is presented. In order to evaluate the administrative system of creative skills in the Iraqi Cement state Company, management, Management Functional Assessment Model (MFAM) was used, and the sample was 173 employees. We also consider the main indicators for evaluating the effectiveness of the creative skills management system in order to ensure efficiency growth in the conditions of innovative economic development. After conducting the tests, it became clear the importance of creative skills management in order to increase the economic efficiency of companies and its role in developing the performance of employees. Also, companies gain a continuous and increasing competitive advantage by owning innovative employees. In addition, the study recommends paying attention to creative skills and developing them in order to increase the performance of employees and raise the economic efficiency of companies and possess a competitive advantage.

Приоритеты государственного регулирования инновационной деятельности в условиях поддержания технологического суверенитета страны

The article deals with the issues of state regulation of innovative activity in the context of modern foreign policy, economic challenges, and the need to ensure the technological sovereignty of the country. The study highlights the main goals and methods of state innovation policy. Two groups of factors influencing the innovative development of the economy (stimulating factors and inhibitory factors slowing down the implementation of innovative activity) are described. The activities of the main institutions for the development of innovations in the Russian Federation are considered, and an analysis of the dynamics of the costs of the innovative activity of organizations is presented. The role of state corporations in the innovative and technological development of the Russian economy is substantiated, and the mechanisms and features of the organization of innovative activity used in these organizations are considered. Practical examples of the participation of state corporations in ensuring the technological sovereignty of the country are presented. It has been determined that the implementation of innovative activity by these corporations makes it possible to develop not only internal innovations and technologies but also to ensure the influx of external developments and to select innovative projects, including taking into account the priorities of the technological independence of our country. The analysis made it possible to highlight the problems and shortcomings of the existing mechanisms and instruments of state regulation of innovative activity, as well as to offer recommendations for their improvement.

The six-helix model of technology transfer innovation ecosystem

Based on the analysis of the development of models of technology transfer, the concept of open innovation, innovation systems and innovation ecosystems, the approach of an effective technology transfer in the conditions of the development of innovative economy is proposed. A multi-level technology transfer ecosystem is proposed in the "Six Helix" innovation ecosystem model, which is based on the generation of new innovative enterprises based on technologies developed in research institutes/universities using: direct classical technology transfer, reverse technology transfer and outward transfer of open innovations.

Modern defining characteristics of innovative development of the ukrainian economy: theoretical and practical aspects

The subject of the article is theoretical substantiation, methodological support, and practical proposals for studying the innovative development of the economy in modern conditions. The aim of the study is to generalize and improve the theoretical foundations of innovative development, identify the main influencing factors and defining characteristics of its course and develop proposals to ensure innovative development of Ukraine's economy in the current conditions. The following tasks have been defined: to find out the attitude of specialists to the possibility and necessity of supporting innovative development in today's difficult military conditions; to summarize the theoretical basis of innovative development and improve its definition and group existing concepts; to substantiate the most influential factors that determine the intensification and/or containment of innovative development of the Ukrainian economy; to identify its defining characteristics, which are used to generate measures to ensure innovative development of the economy in wartime conditions. To solve the tasks, the following methods were used: theoretical generalization, analysis, synthesis, induction, deduction, structural and logical analysis, systemic and situational approaches, economic and statistical analysis, correlation analysis, multivariate regression analysis, graphical method. The following results have been obtained: the definition of the concept of "innovative development" has been improved; the concepts of innovative development have been analyzed; the main factors influencing the course of innovative development in Ukraine have been identified; multivariate regression models have been built according to the influential factors of innovative development and the most important of them have been substantiated; the current defining features of innovative development of the Ukrainian economy have been identified by significant factors and their specification has been carried out in accordance with the measures to ensure it in the conditions of military operations. Conclusions. It is proved that the improved concept of "innovative development" is that it characterizes the resolution of obvious and hidden contradictions on the basis of qualitative changes in the economic system through the accumulation of quantitative transformations in its components and/or factors of innovation processes, intellectual property, the latest technologies and products. In accordance with the above generalized concepts of innovation development, the author investigates the factors influencing this phenomenon based on the dynamics of the components of the global innovation index and statistical indicators of Ukraine's economy for the period 2015–2022. The most influential factors according to the outlined indicators are identified and multivariate regression models are built, which reveal the following modern leading features of innovation development: formation and maintenance of solvent demand of end users (customers) of innovations for the acquisition of intellectual property. With this in mind, the author proposes measures to ensure and intensify innovative development in the context of military operations in Ukraine.

The structural-content model of forming the soft skills of future specialists

One of the main priorities of the country's educational policy, along with increasing the availability of high-quality vocational education that meets the requirements of innovative economic development and the needs of society and its members, is the formation of a system of skills that ensure the free integration of future spe-cialists into the world labor market. Future specialists should be ready to adapt to the rapidly changing condi-tions of international competition, constantly improve their professional level, constantly develop the ability to work effectively in their specialty, form a professional career. In particular, the issue of improving the quality and effectiveness of training specialists in information and communication technologies is of particu-lar relevance. In this regard, in this article, based on the methodology of scientific research, a systematic ac-tivity approach, a meaningful approach, and an axiological approach are chosen as approaches to the study of the formation of soft skills of future information and communication technology (ICT) specialists. The results of fundamental research conducted in the countries of the far and near abroad on the training of ICT special-ists and the formation of soft skills for the development of a model for the formation of soft skills of future ICT specialists are analyzed. In addition, the article highlights the interrelated components that ensure the ho-listic and systematic functioning of the structural and content model for the formation of soft skills of future ICT specialists: 1) purpose; 2) content; 3) technology; 4) result, 5) reflexive. It is important to constantly in-crease your professional interest, desire for achievements, professional level, improve decision-making skills in the face of changing uncertainty, forming soft skills of future ICT specialists

Analytical support for identification trends and problems in the development of interaction between stakeholders of education, science and business

Ukraine’s entry into the path of innovative economic development requires modernisation of the interaction between stakeholders of education, science and business to create a network of cooperation, taking into account the needs of stakeholders due to the situation in Ukraine as of 2023, focusing on changes in the world economy. The purpose of the article was to build a structural and logical scheme of analytical support for identifying trends and problems in the development of interaction between stakeholders in education, science and business. The methodology was based on the use of logical, systemic and comparative analysis. The analysis of budgetary funding for priority areas of innovation activity and sales of innovative products (services) and new technologies by budgetary funds managers showed no trends and priorities for the development of technology transfer and other intellectual property rights carried out by universities, research institutions, enterprises and organisations. The generalisation of changes and prospects of legislative regulation of support for educational, innovative, scientific and technical activities of business focuses on post-war reconstruction, which involves increasing confidence in the educational, scientific and expert activities of institutions for their effective functioning and increasing the volume of research funding. The analysis of the integration aspects of the research and innovation system into the European Research Area and support from international scientific organisations and foreign governments proved the support received from many national scientific communities and international scientific organisations in the creation of the portal for international scientific and technical cooperation and the international consortium for infrastructure and research. The practical significance of the study lies in the proposed directions for improving interaction with business of educational and scientific institutions in the process of implementing innovations separately by stages of interaction with stakeholders (attraction, financing and implementation)

FEATURES OF INNOVATIVE DEVELOPMENT OF SWITZERLAND

The features of Swiss innovative economy and main success factors in creation and implementation of innovations are analyzed in the article. Special attention is devoted to definition of the role of state and private sector in the formation of innovative structure of Switzerland, laws and acts regulating the development of innovations and basic institutions which are playing leading role in their management. The article considers the importance of cluster system creating around big companies a structural network of different actors complementing innovative ecosystem in the production process of new products. The author concludes that a small country status and economic decentralization arе not the obstacles for the development of innovative economy and corresponding infrastructure.

SCIENTIFIC FOUNDATIONS FOR THE FORMATION OF A SYSTEM OF FINANCING INNOVATIVE ECONOMIC DEVELOPMENT

A study has been conducted, the actualisation of which is aimed at solving problems arising in the process of financial support for the implementation of the innovative model of economic development of Ukraine and the participation of banks and other participants in the innovation process. The purpose of the article is to develop a methodological basis for the formation of a system of financing innovative economic development. Methodology. The information base of the study is the official statistical sources and the results of scientific works of leading foreign and domestic scientists. The following methods were used: system methodological approach, synergetic, analytical and synthetic approach; comparison and systematisation; observation; graphic method; logical generalisation. Results. The study highlights the general methodological provisions (purpose, objectives, functions, principles and object), which became the basis for the formation of the system of investor financing of innovative economic development. Value/оriginality. For the first time, the components of the system of financing the innovative development of the economy are specified, i.e., the levels, subjects, objects, purposes and instruments of influence. Macro-, meso- and micro-economic levels are identified, which are considered as a whole and are interrelated. Each of the economic entities contributes to the financing of innovative economic development within the framework of its objectives and instruments of influence. Practical implications. The application of the proposed system of financing the innovative development of the economy will ensure a synergetic effect, the implementation of the strategic goals of innovative development, the realisation of the economic interests of the state and the participants in the innovation process.

Strategies for Innovative Development of Hotel and Restaurant Enterprises in Ukraine

Purpose: The goal is to find and implement innovative strategies for the development of hotel and restaurant enterprises in Ukraine. Design / Methodology / Approach: Analysis, synthesis and comparison. Findings: In modern conditions, hotel and restaurant management is an integral part of the hospitality industry. Today, this is a whole complex that determines the overall prospects for the development of all industries. In order to effectively and successfully solve a complex of tasks related to increasing competitiveness in the market, it is necessary to implement innovative strategies in the hotel and restaurant industry. An analysis of the trends in the development of the hospitality industry shows that companies that implement innovative methods and strategies in their activities are getting more and more growth. Taking into account the significant impact of innovative economic growth and prospective development of hospitality industry enterprises in modern conditions, it is appropriate to define innovative strategies as those that offer potential opportunities for increasing economic efficiency. Originality / Value: Researching innovative strategies in the hotel and restaurant industry of Ukraine, it is worth noting the high level of competition in the hospitality industry. This stimulates the search for new ways and elements of effective functioning. One of the main trends in this field is the development and application of various innovations that can be a powerful impetus for development in the hospitality industry. Innovative technologies are necessary for the viability and competitiveness of hotel and restaurant enterprises. In the process of introducing innovations at enterprises, changes occur that practically affect all aspects of their activities. Practical Meaning: The feasibility of implementing innovative strategies in the hotel and restaurant industry of Ukraine has been proven; the practical significance is the strengthening of the application of innovative strategies in practice. Further Research: Substantiating the application of innovative strategies in the hotel and restaurant industry of Ukraine.

Complex technological process for production of apple distillates and evaluation of its quality indicators.

The research presented in the paper is related to solving an important and urgent problem in the wine industry – use of waste and by-products of production as secondary raw materials. In the course of the experimental part, generally accepted and special research methods and techniques were used; the peculiarities of the extraction and fermentation processes were studied. This is the first time when, in the technology of manufacturing apple distillates, a method was used to reduce the amount of the resulting head fraction during fractional distillation, and the prospects for the reuse of a new by-product of fractional distillation – an intermediate fraction – were scientifically substantiated, as well as diffusion juice obtained from apple pomace was involved at the fermentation stage. The uniqueness also lies in the fact that all the techniques are combined into a single integrated approach. As a result, a scientifically sound, improved and cost-effective technology for production of apple distillates with complex processing of secondary raw materials of winemaking has been developed, which makes it possible to increase the level of economic feasibility and efficiency of the industry, and is the basis for innovative economic development aimed at import substitution. The paper reflects the basic technological layout of the developed technology, describes its operations and stages, as well as studies of the main quality indicators (physical-and-chemical, organoleptic indicators and comparative analysis of the tasting test with the consumer focus group) of apple distillates obtained by integrated waste technology.

FAMILY BUSINESSES IN UKRAINE AND ABROAD: COMPARISON OF RESEARCH AREAS

The purpose of the article is to compare the research areas of family businesses in Ukraine and abroad. The article examines the domestic and foreign research experience of family businesses from the standpoint of innovative economic development. Relevant publications of recent years are considered, which reflect the results of research and achievements of science and practice of the leading countries of the world, and a typology of family business research is compiled. The author's features of the typology of research on family enterprises are proposed: resource-oriented research, innovation-management and project research, approbation-methodical research, spatial and credit-oriented research, and innovation-oriented integrating research. As a means of implementing programs, projects, and measures for the development of family enterprises, planning and organizational measures of innovatively oriented formation, functioning and development of family enterprises and determination of optimal ways of such development are proposed.The problems of the creation, operation and development of family enterprises in Ukraine and the development of family entrepreneurship on the basis of modern innovations and experience of foreign family firms of various types of economic activity were considered. This will allow, in the current conditions, as well as in the post-war period, to use the potential of family businesses of all types of economic activity in the most effective way.The article proposes the use of methods of analysis, analogy, comparison, induction, and statistics, which allowed to thoroughly study a certain set of issues and draw appropriate conclusions.