INVESTMENT IN INNOVATIVE DEVELOPMENT OF ENTERPRISES
DOI:
https://doi.org/10.37332/2309-1533.2020.3-4.22Keywords:
Key words, investment, modernization, investment project, innovations, investments, technologies, products, development, enterprise, attractiveness, commercialization, efficiency.Abstract
Voloshchuk V.R., Voloshchuk Yu.O., Ivanyshyn O.V. INVESTMENT IN INNOVATIVE DEVELOPMENT OF ENTERPRISES
Purpose. The aim of the article is scientific and theoretical substantiation of the essence and mechanisms of investing in innovative development of enterprises.
Methodology of research. General scientific and special methods are used in the process of research, in particular: system analysis – to substantiate the essence of investing in innovative development of enterprises; abstract and logical and graphic – in determining the possible options for innovation and investment process of restoration of material and technical base for production and stages of the investment logistics chain of investment development of enterprises.
Findings. The essence of investing in innovative development of enterprises is determined based on the generalization of scientific approaches, which is manifested by the involvement of real and potential internal and external investment resources, sources, levers and measures. Such innovative development, taking into account the logistics chain, is aimed at finding and efficient use of investment resources, possible options for restoring the material and technical base of production and modernization of enterprises in the conditions of neo-industrialization. Different vector influence of factors on the given course of investment projects leads to qualitative, quantitative and structural changes of production and economic activity of enterprises on an innovative basis and achievement of high efficiency in case of coordination and joint efforts for the decision of problems of strategic orientation and definition of investment priorities.
The necessity and possible variants of restoration of material and technical base and stages of logistic chain of investment of development of enterprises, innovative projects for introduction of fundamentally new technologies and expansion of assortment at the expense of new creative products, transition to higher technological ways, replenishment of available intellectual assets and maintenance of innovative development of enterprises are proved.
It is determined that currently the most acute problem for investors is the protection of their rights and the possibility (ease) of doing business. Therefore, the state's efforts should be aimed at solving problems in the commercial sphere and creating a favourable business environment, increasing investment in agriculture, stabilizing sources and optimizing capital structure, ensuring effective distribution of investments in the formation of assets of agricultural producers by their size.
Originality. The definition of the essence of investing in innovative development of enterprises has been further developed; the scheme of possible variants of innovation and investment process of restoration of material and technical base for production of high-tech production taking into account stages of an investment logistic chain in the conditions of neo-industrialization is formed.
Practical value. The results of the study can be used to expand the base, diversify sources and increase investment by enterprises on the basis of self-financing; corporatization; lending; vendor, operational and electronic leasing or sales; attracting investment resources through the issuance of Eurobonds, obtaining loans from international financial and banking institutions, as well as targeted financing with the participation of credit agencies and a combination of all methods.
Also, the results of the study can be used to increase investment in the creation and commercialization of innovations and enhance innovative development of enterprises, the main priorities of which should be the skilful implementation of internal and external factors to ensure production efficiency and customization and individualization of new innovative products to consumers.
Key words: investment, modernization, investment project, innovations, investments, technologies, products, development, enterprise, attractiveness, commercialization, efficiency.
References
Shkarlet, S.M. and Ilchuk, V.P. (2015), Innovatsiinyi rozvytok pidpryiemstva [Innovative development of the enterprise], Chernih. nats. tekhnol. un-t, Chernihiv, Ukraine, 307 p.
Sabluk, P.T. and Kodenska, M.Yu. (2012), Kontseptualni zasady rozrobky i realizatsii investytsiinykh prohram v ahrarno-promyslovomu vyrobnytstvi [Conceptual foundations for the development and implementation of investment programs in agro-industrial production], NNTs “IAE”, Kyiv, Ukraine, 46 p.
Zakharchuk, O.V. and Voitiuk, V.D. (Ed.) (2019), Modernizatsiia materialno-tekhnichnoi bazy ahrarnykh pidpryiemstv [Modernization of the material and technical base of agricultural enterprises], monograph, FOP Palianytsia V.A., Ternopil, Ukraine, 305 p.
Ivanyshyn, V.V. (2011), Orhanizatsiino-ekonomichni zasady vidtvorennia i efektyvnoho vykorystannia tekhnichnoho potentsialu ahrarnoho vyrobnytstva [Organizational and economic principles of reproduction and effective use of the technical potential of agricultural production], monograph, NNTs “IAE”, Kyiv, Ukraine, 350 p.
Ivanyshyn, V.V. and Voloshchuk, Yu.O. (2018), “Leasing as a mechanism for updating the material and technical base of the agro-industrial complex”, Innovatsiina ekonomika, no. 9-10[77], pp. 157-164.
Lupenko, Yu.O., Kisil, M.I. and Chernenko, D.S. (2019), Otsinka innovatsiinoho investytsiinoho proektu svynofermy v osobystomu selianskomu hospodarstvi [Evaluation of an innovative investment project of a pig farm in a personal peasant farm], methodical manual, NNTs “IAE”, Kyiv, Ukraine, 96 p.
Zhuk, V.M., Bezdushna, Yu.S., Melnychuk, B.V. et al. (2019), Metodychni rekomendatsii z oblikovoho zabezpechennia investytsiinoi pryvablyvosti silskohospodarskykh pidpryiemstv [Methodical recommendations on accounting support for investment attractiveness of agricultural enterprises], NNTs “IAE”, Kyiv, Ukraine, 48 p.
Hutorov, A.O. (2019), Investytsiine zabezpechennia korporatyzatsii kapitalu v ahrarnomu sektori ekonomiky (analitychnyi ohliad) [Investment support for capital corporatization in the agricultural sector of the economy (analytical review)], NNTs “IAE”, Kyiv, Ukraine, 64 p.
Serhieieva, N.V. and Stoliarchuk, N.M. (2019), Analiz pokaznykiv investytsiinoi pryvablyvosti silskohospodarskykh pidpryiemstv [Analysis of indicators of investment attractiveness of agricultural enterprises], SPD Blokhin, Kyiv, Ukraine, 32 p.
Zahorodnii, A.H., Vozniuk, H.L. and Kobylianskyi, V.O. (2018), Slovnyk ekonomichnoi aforystyky [Dictionary of economic aphoristics], Vydavnytstvo Lvivskoi politekhniky, Lviv, Ukraine, 740 p.
Bului, O.H. (2012), “Own sources of financing of investment activity of agricultural enterprises of Zhytomyr region”, Visnyk ZhNAEU, no. 2, Vol. 2, pp. 339-345.
Gitman, L.Dzh. and Dzhonk, M.D. (1999), Osnovy investirovaniia [Fundamentals of investing], Delo, Moscow, Russia, 1008 p.
“European Business Association EBA”, available at: http://eba.com.ua (access date March 20, 2020).
Blank, I.A. (2008), Entsiklopediia finansovogo menedzhera v 4-kh t. T. 3. Upravlenie investitsiiami predpriiatiia [Encyclopedia of the financial manager in 4 volumes. Vol. 3. Enterprise investment management], Omega-L, Moscow, Russia, 469 p.
“So cheap and so unnecessary loans”, available at: https://dt.ua/finances/taki-deshevi-i-taki-nepotribni-krediti-320866_.html (access date March 20, 2020).
Downloads
Published
Issue
Section
License
Open-access articles (open-access journals)
Authors whose articles are published in open-access retain all rights to the content of the articles.
Open access articles are committed to be published under Creative Commons Attribution (CC BY) 4.0. This license allows others to distribute, edit, correct and build upon your work, even commercially, as long as they indicate your authorship. Detailed information at Creative Commons site: https://creativecommons.org/licenses/by/4.0/
Permissions for open-access journals
If the article is published in open-access under CC BY 4.0 or CC BY-NC 4.0 (which was possible till the 15th of December, 2018) licenses, users may reproduce it in accordance with their terms.
Additionally, if the article had been published under CC BY-NC 4.0 (this license authorizes others to download your works and share them with others as long as they indicate your authorship, but they can’t use them commercially in any case.), the use for the following commercial purposes requires permission:
– reproduction of content in a work or product intended for sale;
– reproduction in presentations, brochures or other marketing materials used for commercial purposes;
– distribution of the content to promote or market a person, product, course, service or organization;
– text and data mining for the purpose of creating a saleable product or product which benefits from promotional or advertising revenue;
– use of the content by a commercial entity or individual for the purposes of remuneration, directly or indirectly through sale, licensing, promotion or advertising;
– linking to the content (in an email, webpage, portable electronic device or otherwise) for the specific purpose of marketing or advertising a person, product, course, service or organization for commercial benefit.
For further details and permission requests, please contact.
