DEVELOPMENT OF INNOVATION ACTIVITY OF DOMESTIC ENTERPRISES AS ESSENTIAL ELEMENT OF ANTI-CRISIS MANAGEMENT
Journal Title: Інноваційна економіка - Year 2017, Vol 70, Issue 7
Abstract
Purpose. The purpose of this study was to research the tendencies of development of the level of innovation activity of Ukrainian enterprises in as one of the elements of anti-crisis management on the basis of their financial support. Methodology of research. The following methods have been used in the course of this research: a systematic approach – a simple method for complex analysis of the state of financing of enterprises’ innovation activity; statistical and economic analysis – relation between the total cost and own enterprises’ resources for innovation activities; analysis and synthesis – for research the main source of financing the enterprises’ innovation activity; economic analysis – methods which provide a complete evaluation of the dynamics of the results the main source of financing the enterprises’ innovation activity. Findings. The importance of formulation, implementation and comprehensive support of innovation activities at Ukrainian enterprises were substantiated. The survey shows that the own funds of enterprises, foreign investments, loans and other sources of financing, and, in part, funds of foreign investors were the most basic sources of financing during 2010-2015. From the survey of statistical information, it was found that the internal sources of finance were critical for firms’ innovation activities during 2010-2015 and their total amount was at least 13427.0 million UAH. Assessment of the financial support of innovative development of domestic enterprises as one of the elements of anti-crisis management at the state level for 2010-2015 was conducted and found insufficient funding on the basis of state and local budgets and off-budget funds. The article states that the attraction of domestic and foreign direct investments is necessary for the effective development of innovation level of domestic enterprises as well as creation of favorable conditions on the basis of flexible political, economic and financial principles, namely: favorable legislative and tax base, etc. Originality. The optimization of the main sources of financing of innovation activities of enterprises and the identification of trends in the development of innovative level of activity of Ukrainian enterprises as one of the elements of anti-crisis management on the basis of their financial support have been carried out. Practical value. The support of innovation activities and integrating innovations into long-term strategic plans of the Ukrainian companies can become an important element of anti-crisis management, which will help increase profitability, as well as to contribute to the formation of stability, at both company and state levels.
Authors and Affiliations
Natalia Yuryk, Iryna Khymych
Keywords
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