Evolution of the Venture Investment Market in the Information Economy of Russia

S. V. Domnina (), O. A. Guzhova (), N. V. Kozhukhova () and Yu. A. Tokarev ()
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S. V. Domnina: Samara State University of Economics
O. A. Guzhova: Samara State Technical University
N. V. Kozhukhova: Samara State University of Economics
Yu. A. Tokarev: Samara State University of Economics

A chapter in Sustainable Growth and Development of Economic Systems, 2019, pp 183-194 from Springer

Abstract: Abstract The urgency of the issue under research is determined by the key role of innovations in the development of the modern Russian economy, especially in the context of import substitution and the development of digital technologies. In the scientific literature, there is a certain lack of research on a comprehensive statistical description of the venture investment market in the Russian Federation. The objective of this contribution is to study the venture investment market in the economy of the Russian Federation. Hypothesis is changing innovation and invention activity in the information economy is directly correlated with the business activity in the venture capital market (VC funds). The leading method to the study of this issue is statistical, which allows performing a comparative analysis to identify factors that influence the business activity on the venture investment market of the Russian Federation. The database is a time series of Rosstat statistical indicators and the Ministry of Economic Development of the Russian Federation for 2008–2016. The tendencies of the venture capital market in Russia were reflected in the crisis of 2014–2015. The volumetric performance VC funds began to decline after a previous successful period, with both the total volume of venture capital investments, and their average size. In the structure of the innovation activity of the Russian economy, technological innovations predominate, although their share is gradually declining since 2012. The previous trend toward the development of environmental innovations gave a way to organizational innovations. The indicator called “coefficient of the invention activity” in our country is very stable over time; however, the situation is negative when compared with the major world powers. In general, the hypothesis of the relationship between the change in the innovation and invention activity in the economy and the business activity in the venture capital market was confirmed. The materials of this work can be useful for government bodies when developing programs for regulating the economy and developing a national development strategy.

Keywords: Innovations; Venture business; Investments; Statistics; Dynamics (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:conchp:978-3-030-11754-2_14

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DOI: 10.1007/978-3-030-11754-2_14

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