THE IMPACT OF PRODUCT AND PROCESS INNOVATIONS ON FINANCIAL RESULTS: АN EMPIRICAL STUDY OF RUSSIAN COMPANIES-Reference-Cited by-同舟云学术

THE IMPACT OF PRODUCT AND PROCESS INNOVATIONS ON FINANCIAL RESULTS: АN EMPIRICAL STUDY OF RUSSIAN COMPANIES

Published:2024-03-26 Issue:3 Volume:14 Page:278-291
ISSN:2618-9984
Container-title:Strategic decisions and risk management
language:
Short-container-title:SDRM

Author:

Orlovtseva O. M.¹,Gubanova E. V.¹^ORCID

Affiliation:

1. Kaluga Branch of the Financial University under the Government of the Russian Federation (Kaluga, Russia)

Abstract

The relationship between product and process innovation and financial performance remains largely unexplored, especially for Russian firms. An analysis of publications on this topic shows both a positive and a negative relationship. At the same time, there are no empirical studies based on Russian companies. This study was conducted on the basis of empirical data from 137 Russian companies. The study shows that investment in R&D has a positive effect on the financial results of the company; and the financial results of the companies depend on the type of innovation (product or process) that the companies carry out.Conducting R&D and scientific research related to product and process innovations can increase the profitability of sales, which characterises the financial results of Russian companies. In addition, it was concluded that the relationship between process innovations and financial results is stronger than the relationship between product innovations and financial results, which means that it is more profitable to develop and implement process innovations.

Publisher

Real Economy Publishing

Reference27 articles.

1. Garipova G.R. (2011). Assessment of the impact of management innovations on the efficiency of production and economic systems of the Russian Federation. Bulletin of the Kazan Technological University, 24: 205-213. (In Russ.)

2. Domnich E. (2022). The impact of product and process innovations on productivity: A review of empirical research. Foresight, 3(16): 68-82. (In Russ.)

3. Kozlov V.A., Kadyrova J.S. (2019). The impact of managerial and technological innovations on the effectiveness of the organization. In: A new paradigm of management development: Hypotheses, concepts, practices. Moscow, Rusayns, 133-137. (In Russ.)

4. Linder N.V. (2021). Transformation of innovative behavior of Russian industrial enterprises in the conditions of the Fourth Industrial Revolution: dissertation for the degree of doctor of economics. Moscow, Financial University under the Government of the Russian Federation. (In Russ.)

5. Trachuk A.V., Linder N.V. (2020). The impact of innovations on efficiency: A study of Russian defense industry companies. Flight, 8: 16-27. (In Russ.)