SOURCES AND VOLUMES OF INVESTMENTS IN INTELLECTUAL CAPITAL OF UKRAINIAN ENTERPRISES |
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Author |
 Chuprina O.O., associate professor, Kharkiv, Pushinska, 77 |
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In heading |
Economic theory; | ||||
Signed print |
24.10.2014 | Issues number |
2014 - № 4 (19) | Page |
69-80 |
Type of articles |
Scientific article | Code UDK |
330.322:330.131.7 | ISSN print |
2218-8010 |
Abstract |
Problem setting. Nowadays rich natural resources, cheap unqualified workforce and depreciated, outdated but at the same time received for free fix assets, which were created in the USSR, are determined to be the main competitive benefits of Ukraine. And if the situation is not broken down, Ukraine will remain undeveloped country with low living standards. The problem of investing in intellectual capital becomes strategically important in determined above circumstances. Recent research and publications analysis. The consideration of peculiarities of the intellectual capital creation and functioning has become a subject of research in working papers of both foreign (Е. Brucking, L. Edvinson, R. Kaplan, F. Levi, M. Maloun, D. Northon, І. Russ, G. Russ, T. Stewart, K. Sveiby) and domestic (G. О. Bilov, О. V. Kendiukhov, О. V. Malyshko, А. А. Chukhno, P. M. Zibuliov) authors. Paper objective. An objective of a paper is to determine the main sources of investing in the enterprise intellectual capital; to systematize forms and methods of government supporting of such investments; the cause-consequence analysis of innovation projects underfinancing in modern Ukraine. Paper main body. Own, borrowed, lent and combined forms of funds are sources of financing of projects regarding the creation or the accumulation of intellectual capital. Most sources are widely used in financing any investment projects. But some of them play special role in the field of innovation appliance. They are the following — venture financing and tax investment crediting. Modern Ukraine is characterized by wide range of forms, methods and instruments of government supporting of innovations, including applying budget investment assignments as well as providing free consultations concerning economic and legislative problems. Nevertheless, the role of government in this field is ineffective and of small scale. Such passive position results in the national economy development slowdown and a development lag. One of the main reasons of such situation is that investment in innovations concedes to investment in power by criteria of a recoupment rate, a risk rate and a rate of return. Thus, only the total change of institutional system enables to increase the volumes of innovation investment and to reformate the native economy. Conclusions of the research. Enterprises can use traditional sources of intellectual capital investing as well as special resources: venture financing and tax investment crediting. Ukrainian legislation represents a wide spectrum of forms, methods and instruments of the government support of investment projects. Thus, the volumes of investing by both government and other economic units are still low and insufficient to perform the transformation into the innovation development of Ukraine. The solution of the problem can be obtained by performing deep institutional transformations, which can make investments in innovations more effective than investment in power. |
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Keywords |
Investments in intellectual capital, sources of funding, state stimulation of innovations, venture financing, investment tax credit. | ||||
Reviewer |
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External reviewer |
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Article in PDF |
4 69-80 | ||||
Bibliography |
none | ||||
Code DOI |
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09.09.2014