Total views : 268
Methodological Approaches to Investment Management at Small Businesses
Background/Objectives: The article deals with theoretical and methodological aspects of estimation of efficiency of innovation investment management at small businesses. Methods/Statistical Analysis: We have defined the essence of social and economic efficiency of innovative activity at small innovative business entities. We have also defined peculiarities of estimation of efficiency of own capital and borrowed capital, and dependence of estimation of investment efficiency on the type of innovation it is injected in. Findings: Study of management of investment processes at small business entities from the point of view of estimation of innovation investments revealed following: 1. From the point of view of a small company it is possible to talk about investment efficiency as well as about efficiency of investment management. At this, social and economic efficiency of investment activity of a small entity is significantly wider then positive indicators of monetary flows, as it assumes establishment of new enterprises and jobs, engagement of entrepreneurs into investment activity, increase of general level on investment activity of all business units. 2. Efficiency of participation of own capital in the project and borrowed capital can be different – this should be taken into account upon forecasting of parameters of innovation investments at a small business entity. 3. From the point of view of innovation investment management, management innovations are crucial, as all the other innovations are associated with them. Efficiency of management of investments into each innovation depends on the structure of innovation investment and share of investment into management innovations. Applications/Improvements: May be applicable in order to increase efficiency of decisions on management of innovation investments.
Capital Structure, Investments, Innovation, Parameters, Parameters of Investments into Innovations, Small Business.
- Dean J. Capital budgeting. Colombia University Press: New-York, 1951.
- Markowitz H. Mean-Variance Analysis in Portfolio Choice and Capital Markets. Basil Blakwell: New-York, 1987.
- Miller M. Debt and taxes. Journal of Finance. 1977; 32 (16-18):261 –75.
- Modigliani F. Corporate income tats and the cost of capital: a correction. American Economic Review. 1963; 93(3):443 –53.
- Ross SA. The arbitrage theory of capital asset pricing. Journal of Economic Theory. 1976; 13(3):341–60.
- Terborgh G. Dynamic equipment policy. McGraw-Hill: USA. 1949; 4(1):290.
- Tsybikdorzhiyeva OM, Belomestnov VG. The problems of import phase-out in the process of formation of a new economic development policy in the Russian regions. Indian Journal of Science and Technology. 2015; 8(10):1–6.
- Doroshenko YA, Somina IV, Komissarov SA, Doroshenko SY. The essence and characteristics of investment processes in small innovative enterprises. Asian Social Science. 2015; 11(6):185–91.
- Kondrashova EA, Veretennikova II, Taburchak AP, Ospishchev PI, Leonova OV. Innovative development of companies as a basis of innovation systems of Russia. Вiosciences Вiotechnology Research Asia. 2015; 12(1):789 –99.
- Mescon MH, Albert M, Khedouri F. Management. Delo: Moscow, 1992.
- Fatkhutdinov RA. Innovative Management. Piter: Saint Petersburg, 2012.
- Guskova ND, Krasovskaya IN, Slushkina YY, Makolov VI. Investment management. KNORUS: Moscow, 2010.
- Kiseleva NV. Investment activity. KNORUS: Moscow, 2005.
- Dezhkina IP, Potacheva GA. Innovative potential of a unity system and its estimation (methods of estimation). INFRA-M: Moscow, 2012.
- Bocharov VV. Investments. Piter: Saint Petersburg, 2009.
- Ivanova NN, Osadchaya NA. Economic estimation of investments. Feniks: Rostov-on-Don, 2004.
- Podshivalenko GP. Investments. KNORUS: Moscow, 2008.
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.