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Economic Analysis: Theory and Practice
 

An analysis of factors impacting the decisions on innovation project financing

Vol. 16, Iss. 1, JANUARY 2017

PDF  Article PDF Version

Received: 6 September 2016

Received in revised form: 11 October 2016

Accepted: 1 November 2016

Available online: 27 January 2017

Subject Heading: Innovation

JEL Classification: O30, O32

Pages: 59-68

https://doi.org/10.24891/ea.16.1.59

Belyakov V.N. Crimean Institute of Business, Simferopol, Republic of Crimea, Russian Federation
belyakov.vn@gmail.com

Trofimova V.V. Crimean Institute of Business, Simferopol, Republic of Crimea, Russian Federation
crimeabusiness@mail.ru

Khaver V.N. Crimean Institute of Business, Simferopol, Republic of Crimea, Russian Federation
vn.khaver@gmail.com

Subject The article examines factors influencing the decisions on of innovative project financing.
Objectives The study aims to develop scientific approaches to the analysis of factors that have an impact on decisions on innovative project financing.
Methods We employ general scientific methods of theoretical generalization, analysis, systems approach, and logic.
Results The paper formulates a scientific approach to the analysis of factors impacting the innovation project financing. Based on the findings, we identified and analyzed four groups of factors, namely, personal, situational, external, and internal.
Conclusions and Relevance To increase the efficiency of national or regional innovation infrastructure, it is advisable to create specialized sources of innovation project financing. It is crucial to organize research activities and development of practical recommendations for creation of special insurance products for venture capital funding. The analysis of factors impacting decisions on innovation project financing shows that these factors are numerous, and the nature and mechanisms of influence on the final decision are extremely diverse. It is imperative to develop theoretical tenets and practical recommendations to enhance the efficiency of actors of innovation infrastructure, and review opportunities to attract investment to innovative projects.

Keywords: factor, financing, innovation project, risk, decision

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