REAL OPTIONS IN INNOVATIVE COMPANY MANAGEMENT

Veronica Nikeryasova () and Roza Voskanyan
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Veronica Nikeryasova: Department of Financial Management, Plekhanov Russian University of Economics, Stremyannij lane, 36, Moscow, 117997, Russia
Roza Voskanyan: Department of Financial Management, Plekhanov Russian University of Economics, Stremyannij lane, 36, Moscow, 117997, Russia

Journal of Internet Banking and Commerce, 2016, vol. 21, issue 03, 01-10

Abstract: The article is devoted to innovative economy’s role in the world economy development. In the world market, investment sector is one of the most profitable, but there are some risks. In this regard, we made a deep analysis of factors negatively influencing Russian innovative companies’ development. We studied investment attractiveness features of innovative companies and provided proposals to improve this criterion. The authors considered such innovative company management instrument as a real option, developed a basic algorithm for its use in order to reduce the uncertainties’ impact on innovative company’s efficiency and its investment attractiveness. This goal achievement required a range of methods, in particular analytic and economic-statistic, generalized domestic and foreign experience on the subject. Thus, the real option is an effective instrument in forming innovative economy. Real option allows taking into account economic risks, thereby significantly reducing financial losses. It also forms the most productive management of financial, labor and innovation capital.

Keywords: Innovative Company; Investment Attractiveness; Venture Capitalist; Real Option; Economic Risk (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2016
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