01 Січня 1970 р.THE EUROPEAN UNION TNCs’ INVESTMENT STRATEGIES OF INNOVATION DEVELOPMENT(1,2 MB) Завантажив: Токар Володимир Володимирович Тип публікації: Інші матеріали Посилання: /ua/publications/met_a_fin_rin/images/icons/pdf.png&act=p_id(7513)<div>
Abstract. Purpose: Integrating institutional and technological innovations into manufacturing process poses a challenge to Ukraine</div>
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considering apparent flaws of its industrial enterprises&rsquo; ineffective as well as out-of-date investment strategies. The European Union</div>
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TNCs&rsquo; high innovative performance as a result of their up-to-date investment strategies is a vivid instance of successful innovation</div>
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and investment development management. As there is growing evidence of the European integration prospects of Ukraine, the</div>
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European Union TNCs&rsquo; analysis may shine a light on the questions surrounding selection of the best suited investment strategies</div>
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for Ukrainian industrial enterprises. Methods: We examine the interplay between innovation development and investment strategies</div>
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of the EU TNCs, integrating methods of abstraction, deduction and induction, as well as statistical technique. Results: Taking into</div>
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account the essence of investment strategies, we suggest that their basic objectives are: improvement in quality of goods; price</div>
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reduction with no changes in other strategies; cost saving based on new technology, industrial engineering modes, labor and gen-</div>
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eral management enhancement; capacity expansion (step-up in sales) with no changes in other strategies; market development.</div>
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The aggregate R&amp;D financing of the top 1 000 European Union TNCs has increased from 112.9 billion euros to 152.9 billion euros.</div>
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So, the total growth has amounted to 40.044 billion euros, in other words, it has grown by 35.5 percent. The average annual level</div>
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of aggregate R&amp;D financing during this period accounted for 130.5 billion euros. In line with aggregate indicators, the R&amp;D financ-</div>
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ing per TNC has shown the similar dynamics. The aggregate financing of enterprise innovation and investment activity in Ukraine</div>
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in hryvnias reached the peak of 14.334 billion hryvnias (1.293 billion euros) in 2011, but this figure distorts the fact of the actual R&amp;D</div>
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decline. The highest level of the aggregate financing of enterprise innovation and investment activity in Ukraine was reached in 2007,</div>
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and the record high equaled 20.739 billion hryvnias (1.870 billion euros) in 2011 hryvnias. Conclusion: A global investment strate-</div>
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gy of a TNC is a system of long-term measures of specific and sectoral capital investment optimization, developed by management</div>
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and agreed with shareholders, which involves equal distribution of investment between the North American, European and Asian</div>
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segments of the world market in order to ensure the global competitiveness of a TNC. A TNC investment cycle is as a determined</div>
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period from an investment idea initiation to investment product implementation resulting in an economic, social, ecological devel-</div>
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opment level of a new quality or modernization of technology and management system. Relevance of the TNC&rsquo;s investment strat-</div>
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egy development is determined by such basic conditions: future shift in its life cycle stages, which have their own level of innova-</div>
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tion and investment activity; change in goals of a TNC operational activity, which is connected with new commercial opportunities</div>
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resulting in investment activity growth. An investment cycle of the European Union TNCs is made up of six basic stages: initiation,</div>
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formation, growth, maturity, decline, new quality shift. The European Union TNCs are one of the main driving forces of globaliza-</div>
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tion, integration and internationalization in the modern world.</div>
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Keywords: transnational corporation (TNC); European Union; innovation development; investment strategy; economic integration.</div>Місцезнаходження публікації