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Regional Economics: Theory and Practice
 

A model of network portfolio investment in innovative projects of the regional economic system of petrochemical industry cluster

Vol. 17, Iss. 3, MARCH 2019

Received: 25 December 2018

Received in revised form: 22 January 2019

Accepted: 30 January 2019

Available online: 15 March 2019

Subject Heading: INNOVATION AND INVESTMENT

JEL Classification: С45, O32, O33

Pages: 554–570

https://doi.org/10.24891/re.17.3.554

Beilin I.L. Kazan (Volga Region) Federal University (KFU), Kazan, Republic of Tatarstan, Russian Federation
i.beilin@rambler.ru

https://orcid.org/0000-0002-5878-4915

Khomenko V.V. Tatarstan Academy of Sciences (TAS), Kazan, Republic of Tatarstan, Russian Federation
ispnecon@mail.ru

ORCID id: not available

Subject This article considers small innovative enterprises aimed at high-tech science-intensive production as a mechanism of increasing the stability of the entire regional economic system.
Objectives The article aims to determine the minimum and maximum expedient investment in the portfolio of innovative projects.
Methods For the study, we used the critical path method.
Results The article presents a developed authors' approach to the network planning of portfolio investment of innovative projects of the regional petrochemical cluster. As well, it offers algorithms of estimation of probability of realization of all interrelated projects within the specified budget and estimation of maximum possible amount of financing of execution of all complex of works with given probability. The results of the work are accompanied by examples of using the sectoral method and potential method in the network planning of portfolio investment of innovative projects.
Conclusions The solution of this problem described will help reduce investment risks.

Keywords: regional economy, financing, innovative project, network planning, petrochemical cluster

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