The Value and Content of Investment and Innovation Activities of Domestic Enterprises

Abstract

The article is aimed at deepening the scientific-methodological principles of management of investment and innovation activities and analyzing its current status in Ukraine. Investment and innovation activity is peculiar to any enterprise, representing one of the most important aspects of its development. The article covers the peculiarities of interpretation of the concept of «investment and innovation activity». It is defined that a single point of view has not yet been yielded among both domestic and foreign scholars. On the basis of the analysis of their approaches to defining the concept of investment and innovation activity, the major key characteristics of the interpretation are allocated. A classification of forms of investment activity in the sphere of innovation has been formed. It is noted that today’s research on the problems of innovation and investment development becomes of particular relevance, because it is very important to find ways to improve the management of innovations, investments and the innovation-investment development. The current status of investment and innovation activity in Ukraine is analyzed. It is specified that nowadays the dynamics of investments in the economy of our country has gained a positive tendency. The dynamics of capital investments by sources of financing during 2010-2019 are characterized by the prevailing own funds of enterprises and organizations, whose share ranged from 60% and up to 70%. It is determined that the structure of capital investments by types of assets is characterized by the prevailing investments in tangible assets, while the least funds are invested in water supply, sewerage, waste management. The trend of fixed capital investing also has positive changes, although the turning point was 2008, after which there is no clear dynamics in the growth of fixed capital investments. After estimating the situation in the investment and innovation sphere of Ukraine, the authors have formed the main categories of problems that worsen its development.

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“…The famous Austrian American economist Joseph Alois Schumpeter put the innovation concept in the early 20th century. Innovation is believed to be the combination of production factors and conditions introduced into the production system, leading to the change in production function ( Kovalchuk et al, 2020 ). Innovation can be divided into five aspects: (1) creating new goods; (2) adopting new methods, that is, new means of production; (3) building new markets; (4) grasping the new source of raw material supply; and (5) completing the new organization of the enterprise ( Fridhi, 2021 ).…”