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 considering apparent flaws of its industrial enterprises’ ineffective as well as out-of-date investment strategies.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