{"id":11622,"date":"2019-05-20T15:55:02","date_gmt":"2019-05-20T12:55:02","guid":{"rendered":"https:\/\/modecon.mnau.edu.ua\/?p=11622"},"modified":"2019-05-21T20:40:00","modified_gmt":"2019-05-21T17:40:00","slug":"analysis-of-the-impact-of","status":"publish","type":"post","link":"https:\/\/modecon.mnau.edu.ua\/en\/analysis-of-the-impact-of\/","title":{"rendered":"Kostyuk Vasyl, Vladymyrova Mariia Analysis of the Impact of Innovative Entrepreneurship on the Growth of Economic Indices of Enterprise Performance"},"content":{"rendered":"

[vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text]<\/p>\n\n\n\n
JEL<\/strong> Classification:<\/strong><\/td>\nDOI<\/b>: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-17<\/a><\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text]Kostyuk Vasyl<\/strong>, PhD (Economics), Associate Professor of the Department of Enterprise Economics, Business Administration and Regional Development, O.M. Beketov National University of Urban Economy, Kharkiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0001-8116-0273<\/a>
\ne-mail:<\/strong> kostyk1941@gmail.com<\/a><\/p>\n

Vladymyrova Mariia<\/strong>, PhD (Economics), Associate Professor of the Department of Enterprise Economics, Business Administration and Regional Development, O.M. Beketov National University of Urban Economy, Kharkiv, Ukraine<\/p>\n

ORCID ID:<\/strong> 0000-0002-7395-1451<\/a>
\ne-mail:<\/strong> magnetior@gmail.com<\/a><\/p>\n

Analysis of the Impact of Innovative Entrepreneurship on the Growth of Economic Indices of Enterprise Performance<\/h2>\n

 <\/p>\n

Abstract. Introduction<\/strong>. The article reviews the methodology of calculating the impact of innovative entrepreneurship on the dynamics of changes in such generalizing economic and statistical indices of the enterprise performance as income, profit, production cost, labor productivity, capital productivity of fixed assets, material productivity, profitability, etc. It is determined by the fact that the introduction of efficient innovative technologies into enterprise activities constitutes the most important strategic factor of economic growth of any object of management. This enables the enterprise to gain substantial competitive advantages over other similar entities, to significantly improve its financial and economic condition, and to improve the level of the existing production and technical potential, which positively affects the growth of economic indices of its performance. Taking this into account, the article argues that factor analysis of these indices is of vital significance when considering the impact of innovation factors on their change.<\/p>\n

Purpose<\/strong>. The purpose of the article is to develop a method of calculating the impact of innovation factors on the change of the generalizing economic and statistic indices of the enterprise performance by applying deterministic factor models and corresponding methods of factor analysis. In terms of the research of generalizing economic indices it is proposed to calculate the economic impact that the enterprise receives from its innovation activities. It is emphasized that the total positive effect of all factors on the overall change of the studied indices testifies that this enterprise has received the economic effect from its innovation activity, and, conversely, the aggregate magnitude of the negative influence of factors on the change of these indices represents the reserve for their further growth through implementation of the relevant innovations.<\/p>\n

Conclusions<\/strong>. The reviewed methodic approach to the innovative performance of the enterprise indicates that currently the role and importance of the introduction of the constituent of innovative entrepreneurship is significantly growing. Fulfilling this analysis enables a provision of objective assessment of the current and future financial status of the entity, options for the best tactics and strategy for its development, and efficient management of innovative activity of the enterprise. The presented method of factor analysis for generalizing economic and statistic indices provides for dividing them into a number of components of primary indices and presenting them in the form of mathematical models, calculating the impact of the most important factors on their changes before and after the introduction of innovations, investigating the regularity of such impact, evaluation of the efficiency of innovative activity of the enterprise, and justifying the appropriate management decisions for its further performance.<\/p>\n

Results<\/strong>. The article proposes conducting a comparative analysis of the above-mentioned generalizing economic and statistic indices of the enterprise performance in various directions before and after the introduction of innovations while evaluating both the final results of its innovation activity and investigating the efficiency of the use of certain types of available technical and economic resources (labor, tangible, financial). Conducting the factor analysis of effective economic indices with the use of deterministic multiplicative models and corresponding economic and statistical methods is recommended. In order to calculate the impact of innovative factors on the overall change of the investigated economic indices of the enterprise, it is proposed to use the statistical method of chain substitutions, by which the absolute impact of individual factors, relative impact and its structure are calculated. The absolute value of innovations for the overall change of the investigated performance indicators of the enterprise is recommended to be determined by modifications of the chain substitutions. The relative impact is calculated as the ratio of the obtained absolute impact of individual factors to the absolute value of the investigated indices before the introduction of innovation. The structure of the influence of innovation factors is calculated as the ratio of the corresponding absolute effect to the total increment of the growth of the analyzed indices.<\/p>\n

Keywords<\/strong>: factor analysis; innovation; economic indices; innovative entrepreneurship; multiplicative model.<\/p>\n

References:<\/strong><\/p>\n

    \n
  1. Jokhna, M.\u00a0A. & Stadnyk, V.\u00a0V. (2005). Ekonomika i orhanizatsiia innovatsijnoi diial’nosti<\/em>. Kyiv: vydavnychyj tsentr \u00abAkademiia\u00bb [in Ukrainian].<\/li>\n
  2. Kravchenko, L.I., Osmolovskij, V.\u00a0V. & Rusak, N.A. (2004). Teorija analiza hozjajstvennoj dejatel’nosti<\/em>. Minsk: Novoe znanie\u00a0 [in Russ.].<\/li>\n
  3. Kostiuk, V.O. (2018). Tekhniko-ekonomichnyj analiz diial’nosti pidpryiemstv mis’koho hospodarstva.<\/em> Kharkiv: KhNUMH im. O.\u00a0M. Beketova [in Ukrainian].<\/li>\n
  4. The Law of Ukraine (2002). \u00abOn Innovation Activity\u00bb (with subsequent amendments and supplements, No. 36) \/\/ Bulletin of the Verkhovna Rada of Ukraine. Retrieved from https:\/\/zakon.rada.gov.ua\/laws\/show\/40-15 [in Ukrainian].<\/li>\n
  5. Grinev, V. F. (2001). Innovacionnyj menedzhment<\/em>. Kiev: MAUP [in Russ.].<\/li>\n
  6. Zaharchenko, I. & Kandieieva, V. V. (2018) National innovation system as a basis for economic growth: domestic and foreign experience. Economics: time realities. Scientific journal<\/em>, 5 (39), 58-67.<\/li>\n
  7. Popovych, P. Ya. (2004). Ekonomichnyj analiz diial’nosti sub’iektiv hospodariuvannia<\/em>. Ternopil’: Ekonomichna dumka [in Ukrainian].<\/li>\n
  8. Datta, Bikramaditya (2018). Essays on Innovation<\/em> (PhD Thesis). Graduate School of Arts and Sciences. Columbia university. Retrived from https:\/\/ doi:10.7916\/D8CG166T<\/li>\n
  9. Punn, Monika (2017). Emerging Role of Innovation in Entrepreneurship in Present Scenario. Journal of Management Engineering and Information Technology (JMEIT<\/em>), 4(1). doi: https:\/\/ doi:10.5281\/ZENODO.344943<\/li>\n
  10. Puhakka, Vesa (2012). Entrepreneurship \u2013 creativity and innovative business models. doi: https:\/\/ doi: 10.13140\/2.1.3612.2562<\/li>\n<\/ol>\n
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    [\/vc_column_text][\/vc_column][\/vc_row][vc_row][vc_column][vc_column_text]Received:<\/strong> 10 April 2019<\/p>\n

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    Kostyuk Vasyl, Vladymyrova Mariia (2019). Analysis of the Impact of Innovative Entrepreneurship on the Growth of Economic Indices of Enterprise Performance. Modern Economics,<\/em> 14(2019), 102-109. DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-17.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
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    [vc_row][vc_column][vc_row_inner][vc_column_inner][vc_column_text] JEL Classification: DOI: https:\/\/doi.org\/10.31521\/modecon.V14(2019)-17 [\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_column_text]Kostyuk Vasyl, PhD (Economics), Associate Professor of the Department of Enterprise Economics, Business Administration and Regional Development, O.M. Beketov National University of Urban Economy, Kharkiv, Ukraine ORCID ID: 0000-0001-8116-0273 e-mail: kostyk1941@gmail.com Vladymyrova Mariia, PhD (Economics), Associate Professor of the Department of Enterprise Economics, Business Administration and Regional Development, O.M. Beketov
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