Kozlova N.O.Financial University under Government of Russian Federation, Tula Branch, Tula, Russian Federation 95kno@mail.ru ORCID id: not available
Subject The article considers the valuation of innovative potential of the region that enables to manage innovation on the basis of financially sound management decisions. Objectives We focus on developing a cost approach to region’s innovative potential assessment to justify the funding volumes for Federal and regional programs for innovation-driven growth. Methods The study employs methods of asset valuation on the basis of income and cost approaches, methods of descriptive statistics, and data analysis. Results We developed practice-oriented methods for region’s innovative potential valuation. The paper distinguishes between the current and perspective innovative potential. The former one is built, using the existing innovative businesses and services, innovative technologies of management in government and provision of services in the social sphere. The latter – using the intellectual assets created in the region, which have not yet found an investor, the opportunities of inclusion of certain organizations in global and interregional innovative and technological cycles, the planned innovations in administrating authorities and in the social sphere. The paper substantiates approaches to valuation for each component. Conclusions The offered methodologyis more preferable to indexes that are being used now. It enables better management of innovative development of regions, including justification of areas and volumes of financing, and ultimately, contributes to increasing the return on investment.
Keywords: assessment, cost approach, innovative potential, region
References:
Kolosova T.V., Lutchenkova O.N. [Methodology of evaluation of the regional innovative potential with regards to its structural components (Russia, Nizhny Novgorod)]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2015, no. 2, pp. 219–222. URL: Link (In Russ.)
Litvinenko I.L. [Building and the evaluation of regional innovative potential]. Kreativnaya ekonomika = Journal of Creative Economy, 2015, vol. 9, no. 7, pp. 815–836. (In Russ.) URL: Link
Rudich S.B. [Innovation potential of the region and main approaches to its assessment]. Vestnik Tomskogo gosudarstvennogo universiteta. Ekonomika = Tomsk State University Journal of Economics, 2018, no. 42, pp. 89–104. (In Russ.) URL: Link
Snigireva G.D., Sennikova I.L. [Methodological bases for evaluating the innovative potential of Russian regions]. Fundamental'nye issledovaniya = Fundamental Research, 2015, no. 5-3, pp. 653–657. URL: Link (In Russ.)
Sleuwaegen L., Boiardi P. Creativity and Regional Innovation: Evidence from EU Regions. Research Policy, 2014, vol. 43, iss. 9, pp. 1508–1522. URL: Link
Tsapenko M.V. [Synthesis of global estimates of comparative efficiency of innovative potential of the region]. Ekonomicheskie nauki = Economic Sciences, 2015, no. 126, pp. 53–58. URL: Link (In Russ.)
Tsukerman V.A., Goryachevskaya E.S. [Evaluation of innovation development differentiation of the Arctic Regions]. Sever i rynok: formirovanie ekonomicheskogo poryadka, 2018, no. 2, pp. 138–146. (In Russ.) URL: Link
Egorov N.E. [Innovative potential econometric estimation of Far East Federal District regions]. Izvestiya Dal'nevostochnogo federal'nogo universiteta. Ekonomika i upravlenie = Bulletin of Far Eastern Federal University. Economics and Management, 2017, no. 1, pp. 43–50. URL: Link (In Russ.)
Kasimova T.M. [Assessment of innovative potential of regions by methods of mathematical modelling]. Fundamental'nye issledovaniya = Fundamental Research, 2018, no. 3, pp. 40–45. URL: Link (In Russ.)
Mil'skaya E.A., Bychkova A.V. Analysis and Evaluation of Innovation and Investment Activities Potential of Economic Entities (for example, the Northwestern Federal District). Nauchno-tekhnicheskie vedomosti Sankt-Peterburgskogo gosudarstvennogo politekhnicheskogo universiteta. Ekonomicheskie nauki = St. Petersburg State Polytechnic University. Economics, 2017, vol. 10, no. 2, pp. 44–53. URL: Link
Romanova A.D., Donichev O.A., Barinov M.A. [Methods to analyze and assess the innovative capacity of socio-economic systems of regions]. Ekonomicheskii analiz: teoriya i praktika = Economic Analysis: Theory and Practice, 2017, vol. 16, no. 2, pp. 260–273. (In Russ.) URL: Link
Oveshnikova L.V., Pasynkova O.M., Voronkov S.O. [Evaluation of the capacity of development of the innovation infrastructure of the regions of Russia]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2017, no. 7, pp. 235–240. (In Russ.)
Zemtsov S.P., Baburin V.L., Barinova V.A. [How to measure the immeasurable? Assessment of the innovation potential of Russian regions]. Kreativnaya ekonomika = Journal of Creative Economy, 2015, vol. 9, no. 1, pp. 35–52. URL: Link (In Russ.)
Shvarova E.V., Mironova E.G. [Improvement of the assessment methodology of the innovation potential of the region]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, no. 8, pp. 321–325. (In Russ.)
Frolova N.N., Maleeva T.V., Tatarnikova M.A. [Theoretical and methodical foundations of estimation of innovative potential of near-border region]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2017, no. 10-1, pp. 227–232. (In Russ.)
Lau A.K.W., Lo W. Regional Innovation System, Absorptive Capacity and Innovation Performance: An Empirical Study. Technological Forecasting and Social Change, 2015, vol. 92, pp. 99–114. URL: Link
Efremenko V.F. [Assessment of innovative potential of regions of the Far East of Russia, using the system method]. Vlast' i upravlenie na Vostoke Rossii = Power and Administration in the East of Russia, 2016, no. 1, pp. 26–34. (In Russ.)
Fedorova T.A., Fedorova E.A. [The role of valuation activities in reforming the Russian economy]. Upravlenie ekonomicheskimi sistemami, 2018, no. 6. (In Russ.) URL: Link
Fedorova T.A. [Assessment of the impact of innovative assets on enterprise value]. Upravlenie ekonomicheskimi sistemami, 2018, no. 5. (In Russ.) URL: Link
