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Financial Analytics: Science and Experience
 

The moving curves method in assessing innovation development of industrial enterprises

Vol. 7, Iss. 45, DECEMBER 2014

Available online: 6 December 2014

Subject Heading: Innovation

JEL Classification: 

Pages: 24-34

Yashin S.N. N.I. Lobachevski Nizhny Novgorod State University - National Research University, Nizhny Novgorod, Russian Federation
jashinsn@yandex.ru

Karlina S.D. R.E. Alekseev Nizhny Novgorod State Technical University, Nizhny Novgorod, Russian Federation
SD-Karlina@yandex.ru

The paper presents a study of the technique designed to improve the assessment of the level of innovation development of industrial enterprises based on the analysis of indicators of statistical and financial statements. The research allowed identifying the most effective ways of industrial enterprise development and justifying the results obtained during the development of their innovation activity strategies. The authors present a method of calculating an integral indicator of innovation development on the basis of six indicators calculation. These six indicators are percentage of employees employed in R&D, level of new equipment utilization, degree of new product utilization, share of material resources for research and development, degree of intellectual property availability, share of investment in innovation projects. The authors calculated the indicators for a seven-year period from 2007 to 2013 on the basis of financial statements of metallurgical enterprises. The authors compared the parameters of innovation development with the analogues for a five-year period from 2007 to 2011 of four metallurgical enterprises (OAO "Ruspolymet", "Uralskaya Kuznitsa", "Stupino metallurgical works", "VSMPO-Avisma"). This helped to identify the dynamics of innovation development taking into account the 2012 and 2013 results. The authors propose the method of building and analyzing the moving curves of an integral indicator. The technology includes calculation of integral indicators of an enterprise activity for periods from one to five years, and building a graph of moving curves of 1-5 order, respectively. The intersection of moving curves of various orders allowed analyzing and forecasting the progress of innovation development of enterprises. The paper provides an algorithm to analyze the moving curve graphs. The article makes evaluation of the current state of innovative activity effectiveness of OAO "Ruspolymet" using this method. The authors provide recommendations on future areas of innovation activity of the enterprise.

Keywords: innovation, development, integral indicator, moving curves, metallurgical enterprise

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