Risk Factors of Companies’ Innovative Activities in Russia and Methods for it Reducing

Vadim Vladimirovich Dmitrenko () and Alexander Aleksandrovich Samodurov ()

Administrative Consulting, issue 1

Abstract: The article deals with topical at the moment for Russia risk factors companies’innovation activities-external and internal. External risk factors are studied on the basis of the division into two groups: a) macroeconomic risk factors, the impact of which increased during the period of the «second wave» of the financial crisis (since 2014) and the introduction of the sanctions regime; b) the effect of which has a profound institutional framework in the Russian and global economy. There are four concurrent restrictive conditions that have a negative impact on the introduction of innovative risks of doing business in Russia: the inability to get in a joint operation or acquire technology and equipment, which represent the achievements of the world scientific and technological progress in a number of sectors; reducing the availability of long-term foreign credit; reduction of budget expenditures allocated to financial support for innovation companies; negative impact on the nature of demand for innovative products from the Russian Federation, implemented in major foreign economies. Also the study views a number of institutional constraints, such as the unavailability of long-term loans at low interest rates in domestic Russian economy and the narrowing of the global market of portfolio investment.The article studies the possibilities of neutralizing and reducing risks. In order to reduce the external innovation risks caused by the sanctions, the Government of RF and major Russian companies should submit such proposal of joint projects, which would be necessary and beneficial to Western partners. The ways of reducing the risk by the internal sources of innovation are presented. As an example, there is considered an interaction in the sphere of technology transfer with leading companies from abroad in the timber industry. It is viewed as a basis for a comprehensive approach to reduce the risks of innovation.

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