Institutional criteria for the assessment of intellectual products'potential realization in the venture financing system

Volkova Tatiana Ivanovna and Kuznetsova Marina Nikolaevna
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Volkova Tatiana Ivanovna: Institute of Economics, Ural Branch of the Russian Academy of Sciences
Kuznetsova Marina Nikolaevna: Institute of Economics, Ural Branch of the Russian Academy of Sciences

Экономика региона, 2012, issue 3, 125-133

Abstract: The objective of the research is to elaborate institutional criteria for the assessment of intellectual products' potential realization in the venture financing system which are not presented in the existing works on venture investments. Research methodology is based on synthesis of institutional and new institutional economics theory, theories of innovations, uncertainty and risk, management of innovations. Essential characteristics of venture financing are structured in the paper, its treatment as an economic category is suggested. A number of common institutional criteria for the assessment of intellectual products' potential feasibility in the system of venture financing are outlined and grounded. The structure of institutional field of venture financing (by the example of Sverdlovsk region) is elaborated with consideration of projected development and coevolution of formal and informal institutions as a favorable environment for drawing into economic turnover and commercialization of technological developments and projects. Analytical investigation of structural elements for creation of institutional field of venture financing in Sverdlovsk region is performed, a range of common and specific problems, contradictions and recommendations are outlined. The paper introduces institutional criteria for the assessment of intellectual products' potential feasibility.

Keywords: INTELLECTUAL; PRODUCTS''; POTENTIAL (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:scn:015306:15357093

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