METHODOLOGY OF FINANCIAL AND ECONOMIC ANALYSIS OF INNOVATIVE ACTIVITIES OF ENTERPRISES IN THE CONDITIONS OF THE DIGITAL ECONOMY

Authors

  • O. Osadcha National University of Water and Environmental Engineering
  • O. Liashenko «KROK» University
  • O. Pavelko National University of Water and Environmental Engineering
  • R. Markov «KROK» University
  • N. Yurkiv National Institute for Strategic Studies

DOI:

https://doi.org/10.18371/fcaptp.v4i35.222027

Keywords:

economic analysis, innovation, innovative project, the digital economy, methods of analysis, information and analytical support

Abstract

The relevance of the study is due to the need for a systematic study of the issues of methodological support for the analysis of innovative activities of enterprises in the context of the development of the digital economy. It has been established that a feature of the information and analytical system for managing innovation is the use of a set of methods: statistical, economic and mathematical and specific methods for predicting the results of innovation. At the same time, the system of methods and techniques for analyzing innovation activity significantly differs from the traditional toolkit, since in most cases the object of management is unique in its kind, and the subject of an innovative project (innovative product), as a rule, has no analogues.

The article substantiates the need to apply analytical procedures at all stages of the implementation of innovative projects. It is proposed to conduct the process of assessing the effectiveness of the implementation of an innovative project in the following stages: monitoring the external environment, determining the innovative potential of an enterprise, studying the effectiveness of an innovative project, quantitative and qualitative analysis of the risks of innovation, economic analysis of innovation, development of an innovation strategy.

A method is proposed for determining the price of innovative products as an important component of assessing the effectiveness of an innovative project, and the main indicators of the effectiveness of innovative activities are highlighted. The results of the calculation of certain indicators form the basis for making decisions on the administration of innovative activities, and their factor analysis will determine the unused reserves of growth in the efficiency of the enterprise’s innovative activities.

It was found that in the digital economy, classical methods of economic analysis of innovation activity are complemented by innovative ones, such as simulation modeling, decision tree, sensitivity analysis, correlation-regression and variance methods, probability method, analog method, SWOT-analysis, PEST-analysis, SNW-analysis, R-analysis.

It has been determined that the analysis of innovation in the digital economy provides for the creation of a fundamentally new information model using modern technical and technological means of collecting and processing significant data sets, the functioning of which should be based on the principles of «consistency» and «communication».

Author Biographies

O. Osadcha, National University of Water and Environmental Engineering

Doctor of Economics, Professor, Professor of Accounting and Audit Department

O. Liashenko, «KROK» University

Doctor of Economics, Professor, Professor of Managerial Technology Department

O. Pavelko, National University of Water and Environmental Engineering

Ph. D. in Economics, Associate Professor, Associate Professor of Accounting and Audit Department

R. Markov, «KROK» University

Ph. D. in Economics, Doctoral student

N. Yurkiv, National Institute for Strategic Studies

Doctor of Economics, Professor

References

Birman, G., & Shmidt, S. (2004). Ekonomicheskij analiz investicionnyh proektov [Economic analysis of investment projects]. Moscow : YuNITI [in Russian].

Plaskova, N. S. (2018). Razvitie metodologii ekonomicheskogo analiza v cifrovoj ekonomike [Development of the methodology of economic analysis in the digital economy]. Uchet, analiz i audit — Accounting, Analysis and Audit, 2 (5), 36—43 [in Russian].

Gerasimova, E. B. (2019). Analiz deyatel’nosti ekonomicheskogo sub’ekta i cifrovaya kul’tura [Analysis of the activity of an economic entity and digital culture]. Mir novoj ekonomiki — The world of the new economy, 2, 111—120 [in Russian].

Dutta, S., Lanvin, B., & Wunsch-Vincent, S. (2020). Global innovation index 2020. Who will finance innovation? URL : https://www.wipo.int/edocs/pubdocs/en/wipo_pub_gii_2020.pdf.

Marmier, F., Gourc, D., & Laarz, F. (2013). A risk oriented model to assess strategic decisions in new product development project. Decision Support Systems, 56 (2), 74—82. doi: 10.1016/j.dss.2013.05.002.

Levytska, O. O. (2008). Metodyka zdiisnennia kompleksnoho analizu efektyvnosti vprovadzhennia innovatsiinykh proiektiv [Methodology of complex analysis of efficiency of implementation of innovative projects]. Visnyk Natsionalnoho universytetu vodnoho hospodarstva ta pryrodokorystuvannia. Ekonomika — Bulletin of the National University of Water Management and Environmental Sciences. Economics, 4 (44), 2, 294—299 [in Ukrainian].

Osadcha, O. O. (2013). Vplyv elementiv metodyky bukhhalterskoho obliku na rezultatyvnist analizu formuvannia i vykorystannia prybutku [The influence of elements of accounting methodology on the effectiveness of the analysis of the formation and use of profit]. Naukovi zapysky. Ekonomika — Proceedings. Economy, Vol. 22, 115—118. Ostroh: Vydavnytstvo «Natsionalnyi universytet “Ostrozka akademiia”» [in Ukrainian].

Maksimova, V. F., Lokhanova, N. O., & Artiukh, O. V. (et. al.). (2014). Oblik i kontrol v upravlinni ekonomichnoiu stiikistiu pidpryiemstv v umovakh hlobalizatsii [Accounting and control in the management of economic stability of enterprises in the context of globalization]. Odesa: ONEU [in Ukrainian].

Carlsson-Wall, M., & Kraus, K. (2015). Opening the black box of the role of accounting practices in the fuzzy front-end of product innovation. Industrial Marketing Management, 45, 184—194. doi:10.1016/j.indmarman.2015.01.007.

Dainienė, R., & Dagilienė, L. (2014). Accounting-based Valuation of Innovation: Challenges and Perspectives. Procedia-Social and Behavioral Sciences, 156, 589—593. doi:10.1016/j.sbspro.2014.11.246.

Butticè, V., Caviggioli, F., Franzoni, C., Scellato, G., Stryszowski, P., & Thumm, N. (2020). Counterfeiting in digital technologies: An empirical analysis of the economic performance and innovative activities of affected companies. Research Policy, 49 (5). doi:10.1016/j.respol.2020.103959.

Alcácer, J., Beukel, K., & Cassiman, B. (2017). Capturing value from intellectual property (IP) in a global environment. In: Geography, Location, and Strategy, 163—228.

Mensch, G. (1979). Stalemate in Technology: innovations overcome the depression. Cambridge, Mass: Ballinger.

Prodanova, N., Plaskova, N., Samusenko, A., Abdulrahman, T., Polyanskaya, T., & Cernostana, Z. (2019). Influence of innovations on social-economic development: views of academic economists. Journal OPCIÓN, 23, 11—28.

Demidenko, D., Dubolazova, J., & Malevskaya-Malevich, E. (2018). Economic model of an innovative enterprise in the digital economy. SHS Web of Conferences, 44, 1—7. doi:10.1051/shsconf/20184400025.

Maier-Shenberger, V. (2014). Bol’shie dannye. Revolyuciya, kotoraya izmenit to, kak my zhivem, rabotaem i myslim [Big data. A revolution that will change the way we live, work and think]. Moscow: Mann, Ivanov, Ferber [in Russian].

Ivanov, V. V., & Malineckij, G. G. (2017). Cifrovaya ekonomika: ot teorii k praktike [Digital economy: from theory to practice]. Innovacii — Innovation, 230 (12), 3—12 [in Russian].

Ben, Yo., A., Boubaker, S., Dedaj, B., & Carabregu-Vokshi, M. (2020). Digitalization of the economy and entrepreneurship intention. Technological Forecasting and Social Change. doi:10.1016/j.techfore.2020.120043.

Richardson, L. (2020). Digital and Platform Economies. International Encyclopedia of Human Geography, 317—321. doi:10.1016/b978-0-08-102295-5.10533-5.

Filatov, E. A., & Nechayev, V. B. (2014). Problem-Solving in Deterministic Factor Analysis. Middle-East J. Sci. Res., Vol. 19 (5), 723—728. doi:10.5829/idosi.mejsr.2014.19.5.21022.

Zahorskyi, V. S., Lipentsev, A. V., Yurystovska, N. Ya., Mazii, N. H., & Akimov, O. O. (2019). Finansovo-upravlinski aspekty rozvytku maloho pidpryiemnytstva v Ukraini [Financial and managerial aspects of small business development in Ukraine]. Finansovo-kredytna diialnist: problemy teorii ta praktykyFinancial and credit activities: problems of theory and practice, 3, 351—36 [in Ukrainian].

Liubkina, O., Murovana, T., Magomedova A., Siskos, E., & Akimova, L. (2019). Financial Instruments of Stimulating Innovative Activities of Enterprises and Their Improvements. Marketing and Management of Innovations, 4, 336—352. doi:10.21272/mmi.2019.4-26.

Akimova, L. М., Akimov, O. О., & Liakhovych, О. O. (2017). Derzhavne rehuliuvannia zovnishnoekonomichnoi diialnosti [State regulation of foreign economic activity]. Naukovyi visnyk Polissia — Scientific Bulletin of Polissya, 4 (12), 1, 98—103 [in Ukrainian].

Yakymchuk, A. Yu., Akimova, L. M., & Simchuk, Т. О. (2017). Prykladnyi proektnyi pidkhid u natsionalnii ekonomitsi: praktychni aspekty [Applied design approach in the national economy: practical aspects]. Naukovyi visnyk Polissia — Scientific Bulletin of Polissya, 4 (12), 2, 170—177 [in Ukrainian].

Yakymchuk, A. Yu., Valiukh, A. M., & Akimova, L. M. (2017). Rehionalna innovatsiina ekonomika: aspekty ekonomichnoho rozvytku [Regional innovation economy: aspects of economic development]. Naukovyi visnyk Polissia — Scientific Bulletin of Polissya, 3 (11), 1, 170—178 [in Ukrainian].

Yakymchuк, A. Yu., Akimov, O. O., & Semenova, Yu. M. (2017). Doslidzhennia osnovnykh tendentsii zaluchennia vodnykh resursiv u hospodarskyi oborot [Investigating key trends of water resources attraction into economic turnover]. Naukovyi visnyk Polissia — Scientific Bulletin of Polissya, 1 (9), 2, 70—75. doi:https://doi.org/10.25140/2410-9576-2017-2-1(9)-70-75">10.25140/2410-9576-2017-2-1(9)-70-75.

Akimova, L., Osadcha, O., & Akimov, O. (2018). Udoskonalennia orhanizatsii obliku za dopomohoiu tekhnolohii benchmarkinhu [Improving the organization of accounting using benchmarking technology]. Finansovo-kredytna diialnist: problemy teorii ta praktyky — Financial and credit activities: problems of theory and practice, 1 (24), 64—70. doi:https://doi.org/10.18371/FCAPTP.V1I24.128340">10.18371/FCAPTP.V1I24.128340.

Harafonova, О. I., Zhosan, G. V., Akimova, L. M. (2017). The substantiation of the strategy of social responsibility of the enterprise with the aim of providing efficiency of its activities. Scientific journal Marketing and management of innovations, (3), 267—279.

Kalyayev, A., Efimov, G., Motornyy, V., Dzianyy, R., & Akimova, L. (2019). Global security governance: Conceptual approaches and practical imperatives. Proceedings of the 33rd International Business Information Management Association Conference, IBIMA 2019: Education Excellence and Innovation Management through Vision 2020.

Mishchuk, H., Bilan, S., Yurchyk, H., Akimova, L., & Navickas, M. (2020). Impact of the shadow economy on social safety: The experience of Ukraine. Economics and Sociology, 13 (2), 289—303. doi:10.14254/2071-789X.2020/13-2/19.

Kostiukevych, R., Mishchuk, H., Zhidebekkyzy, A., Nakonieczny, J., & Akimov, O. (2020). The impact of European integration processes on the investment potential and institutional maturity of rural communities. Economics and Sociology, 13 (3), 46—63. doi:10.14254/2071-789X.2020/13-3/3.

Andros, S., Akimova, L., & Butkevich, O. (2020). https://publons.com/publon/32877862/">Innovations in management of banks deposit portfolio: structure of customer deposit. Marketing and Management of Innovations, 2, 206—220. doi:https://doi.org/10.21272/MMI.2020.2-15">10.21272/MMI.2020.2-15.

Akimova, L. М., Reinska, V. B., Akimov, O. О., & Karpa, M. I. (2018). Podatkovi pilhy ta yikh vplyv na investytsii v Ukraini [Tax benefits and their impact on investment in Ukraine]. Tax preferences and their influence on the investment in Ukraine. Finansovo-kredytna diialnist: problemy teorii ta praktyky — Financial and credit activities: problems of theory and practice,

3 (26), 91—101 [in Ukrainian].

Bilan, Yu., Mishchuk, H., Samoliuk, N., & Mishchuk, V. (2020). Gender discrimination and its links with compensations and benefits practices in enterprises. Entrepreneurial Business and Economics Review, 8 (3), 189—204. doi:10.15678/EBER.2020.080311.

Bilan, S., Mishchuk, H., Samoliuk, N., & Ostasz, G. (2019). Effectiveness of Social Dialogue in the System of Sustainable Economic Development Factors. Paper presented at the Proceedings of the 34th International Business Information Management Association Conference, IBIMA 2020: Vision 2025: Education Excellence and Management of Innovations through Sustainable Economic Competitive Advantage.

Bilan, S., Mishchuk, H., Bilan, Yu., & Mishchuk, V. (2019). Empirical Study of Migration Caused by Well-being in Living and Working Environment. Paper presented at the Proceedings of the 34th International Business Information Management Association Conference, IBIMA 2020: Vision 2025: Education Excellence and Management of Innovations through Sustainable Economic Competitive Advantage.

Bilan, Yu., Mishchuk, H., Roshchyk, I., & Kmecova, I. (2020). Analysis of Intellectual Potential and its Impact on the Social and Economic Development of European Countries. Journal of Competitiveness, 1, 22—38. doi:10.7441/joc.2020.01.02.

Bilan, Yu., Mishchuk, H., Samoliuk, N., & Yurchyk, H. (2020). Impact of Income Distribution on Social and Economic Well-Being of the State. Sustainability, 12 (1), 429. doi:10.3390/su12010429.

Downloads

Published

2020-12-24

Issue

Section

The models and process technology of the financial information