Determination of the Leading Positions of Companies Based on the Financial Potential of Their Innovative Development

  • Ksenia Ekimova
  • Ayaz Aliyev
  • Maria Guryeva
Conference paper
Part of the Springer Proceedings in Business and Economics book series (SPBE)

Abstract

The goal is to identify factors affecting the innovative development of oil and gas companies and, based on identified factors, to form a model for an integrated assessment of the financial potential of companies’ innovative development. The methodological basis of the work was general scientific principles and research methods: analysis and synthesis, induction and deduction, collection and generalization of the theoretical bases for the development of a balanced scorecard, and their comparison with the practice of application. Within the framework of the integrated approach, the methods of grouping and comparison and calculation and analytical methods were also used. The study used a comparative analysis of indicators and factor analysis of reporting data of oil and gas companies based on the integration of factor characteristics of current and fundamental performance indicators of companies; a system of financial indicators was formed to determine the position of the financial potential of company’s innovative development and to identify leading companies on the basis of innovative development. The ranks of indicators are determined, and weighted coefficients are assigned to them on the basis of the Fishburn rule (criterion). The initial and normalized indicators are determined, and on the basis of this, vector values are formed. An integrated assessment of the financial potential of innovative development of companies has been formed. The dependence between the volumes of financing R&D and indicators of the capital structure was revealed. It is determined that the company finances R&D, including through borrowed capital.

References

  1. Balcerzak AP, Pietrzak MB (2016) Quality of institutions for knowledge-based economy within new institutional economics framework. Multiple criteria decision analysis for European countries in the years 2000–2013. Econ Soc 9(4):66–81.  https://doi.org/10.14254/2071-789x.2016/9-4/4 Google Scholar
  2. Barge-Gil A, Lopes A (2015) R versus d: estimating the differentiated effect of research and development on innovation results. Ind Corp Chang 1(24):93–129.  https://doi.org/10.1093/icc/dtu002 CrossRefGoogle Scholar
  3. Bolan N (2013) The diagnosis of financial resources of small and middle size enterprises. Proc Manuf Syst 8(4):345–352Google Scholar
  4. Bondarenko TG, Isaeva EA, Orekhov SA, Soltakhanov AU (2017) Optimization of the company strategic management system in the context of economic instability. Eur Res Stud J 2B:3–24Google Scholar
  5. Bordea E, Manea M, Pelligrini A (2017) Unemployment and coping with stress, anxiety, and depression. Czech J Soc Sci Bus Econ 6(2):6–14.  https://doi.org/10.24984/cjssbe.2017.6.2.1 Google Scholar
  6. Danko TP, Yekimova KV, Bolvachev AI, Zarova EV, Shemetkova OL, Solovyova MG, Sekerin VD (2016) Assessment of the competitive potential of the region through an integrated system of rating position. Int J Econ Res 6:2361–2367Google Scholar
  7. Fedorayev SV (2010) Innovative potential: content, structure, methods of assessment. Vestn St Petersburg Univ State Fire Service Russia 2:23–31Google Scholar
  8. Fishburn P (1977) Mean-risk analysis with risk associated with below-target returns. Am Econ Rev 67(2):116–126Google Scholar
  9. Gorbunov VL, Matveev GP (2002) Methods of estimation of innovative potential of the enterprise. Innovations 8:67–69Google Scholar
  10. Jankelová N, Jankurová A, Masár D (2017) Effective management and self-government: current trends. Czech J Soc Sci, Bus Econ 6(2):21–31.  https://doi.org/10.24984/cjssbe.2017.6.2.3 Google Scholar
  11. Kosov ME, Akhmadeev RG, Bykanova OA, Osipov VS, Ekimova KV, Frumina SV (2016) Economic practicability substantiation of financial instrument choice. J Appl Econ Sci 8(46):1613–1623Google Scholar
  12. Koudelková P, Svobodová P (2014) Knowledge creation & sharing as essential determinants of SMEs innovation. Int Econ Lett 3(1):12–20.  https://doi.org/10.24984/iel.2014.3.1.3 Google Scholar
  13. Kuzminykh N (2011) Approaches to the assessment of results of innovative development. Vestnik SamGU 3(84):47–48Google Scholar
  14. Machnáček V, Strielkowski W, Shishkin A, Yu B (2015) Determinants of innovations and competitiveness in the European Union. Mark Manag Innov 4:224–232.  https://doi.org/10.17512/pjms.2016.14.2.21 Google Scholar
  15. Moskalenko V, Yevsieieva I (2015) Effective leadership conflict management in food technology enterprises. Int Econ Lett 4(2):91–102.  https://doi.org/10.24984/iel.2015.4.2.4 Google Scholar
  16. Poolton J, Hossam I (2000) New developments in innovation. J Manag Psychol 15(8):795–811.  https://doi.org/10.1108/02683940010379350 CrossRefGoogle Scholar
  17. Shevchenko AA (2013) Assessment of financial capacity in determining the ability of the company to upgrade. Her Young Sci 1:202–204Google Scholar
  18. Simionescu M, Bilan Y, Smrcka L, Vincurova Z (2017) The effects of European economic integration and the impact of Brexit on the UK immigrants from the CEE countries. E & M Ekonomie a Manag 20(1):29–47.  https://doi.org/10.15240/tul/001/2017-1-003 CrossRefGoogle Scholar
  19. Starovoytov MK, Fomin PA (2006) Features of estimation of potential of enterprise. Anti-Crisis External Manag 2:27–41Google Scholar
  20. Strielkowski W, Shishkin A, Galanov V (2016) Modern management: beyond traditional managerial practices. Pol J Manag Stud 14(2):225–231.  https://doi.org/10.17512/pjms.2016.14.2.21 CrossRefGoogle Scholar
  21. Strielkowski W, Tcukanova O, Zarubina Z (2017) Globalization and economic integration: the role of modern management. Pol J Manag Stud 15(1):255–261.  https://doi.org/10.17512/pjms.2017.15.1.24 CrossRefGoogle Scholar
  22. Susu S, Birsan М (2009) The financial diagnosis-component of the global diagnosis and instrument of the financial analysis. Annals of Dunărea de Jos University. Fascicle I: Econ Appl Inform 271(2):271–280Google Scholar
  23. Trifilova AA (2003) Analiz innovatsionnogo potentsiala predpriyatiya. Innovations 6:93–97Google Scholar
  24. Tvaronaviciene M, Razminiene K, Piccinetti L (2015) Approaches towards cluster analysis. Econ Soc 8(1):19–27.  https://doi.org/10.14254/2071-789X.2015/8-1/2 Google Scholar
  25. Zinchenko VI, Gubin EP, Monastyrnyi EA, Pushkarenko AB, Chulkova GI (2005) Principles of development and application of methods of complex estimation of innovative potential of industrial enterprises. Innovations 5:59–66Google Scholar

Copyright information

© Springer International Publishing AG, part of Springer Nature 2018

Authors and Affiliations

  • Ksenia Ekimova
    • 1
  • Ayaz Aliyev
    • 1
  • Maria Guryeva
    • 2
  1. 1.Plekhanov Russian University of EconomicsMoscowRussian Federation
  2. 2.Industrial University of TyumenTyumenRussian Federation

Personalised recommendations