+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Economic Analysis: Theory and Practice
 

Knowledge Generation Risk Management

Vol. 16, Iss. 9, SEPTEMBER 2017

PDF  Article PDF Version

Received: 21 March 2017

Received in revised form: 10 August 2017

Accepted: 28 August 2017

Available online: 29 September 2017

Subject Heading: Innovation

JEL Classification: O31, O32

Pages: 1696–1707

https://doi.org/10.24891/ea.16.9.1696

Panikarova S.V. Institute of Economics, Ural Branch of Russian Academy of Sciences, Yekaterinburg, Russian Federation
Panikarova_s@mail.ru

Vlasov M.V. Institute of Economics, Ural Branch of Russian Academy of Sciences, Yekaterinburg, Russian Federation
Mvlassov@mail.ru

Importance In most cases, more than one year may pass from the time of taking a decision to generate knowledge to the time of acquired knowledge introduction. Significant time lags in the process of knowledge generation cause various risks associated with uncertain future business conditions.
Objectives The purposes of the study is to develop the theory and practice of risk management in the process of creating new knowledge, namely, to identify patterns in the allocation of risks inherent in knowledge generation, depending on the new knowledge cost structure.
Methods The study draws on economic and sociological research data (interviews with R&D managers) involving medium-sized manufacturing enterprises of the Sverdlovsk oblast, revealing the distribution of costs and efficiency of knowledge generation for several years.
Results The paper presents the findings of empirical study of risk associated with generating different types of knowledge (operational, structural, functional) at Russian industrial enterprises.
Conclusions The research revealed the pattern: the higher R&D costs, the less the risk of generating functional knowledge and the greater the risk of generating operational knowledge. If the R&D cost accounts for from eight to ten percent in the total cost structure of the enterprise, the knowledge-generation risk structure stabilizes. Then it is as follows: the risk of functional knowledge generation is 15–18 percent, structural knowledge – 28–30 percent, and operational knowledge – 53–55 percent. The results of the study demonstrate the impact of the cost structure of different types of knowledge generation on the knowledge generation risk level.

Keywords: generation, knowledge, risk, cost structure

References:

  1. Popov E.V., Vlasov M.V. [Risks of knowledge generation]. Upravlenie riskom = Risk Management, 2008, no. 1, pp. 61–64. (In Russ.)
  2. Kachalov R.M. Upravlenie khozyaistvennym riskom [Economic risk management]. Moscow, Nauka Publ., 2002, 192 p.
  3. Blaug M. Economic Theory in Retrospect. Cambridge University Press, 1997.
  4. Knight F.H. Risk, Uncertainty, and Profit. Boston, Houghton Mifflin, 1921.
  5. Popova E.Yu., Kretova N.V. [Risks of innovative projects and methods of their control at the stage of innovation introduction]. Ekonomika i predprinimatel'stvo = Journal of Economy and Entrepreneurship, 2016, no. 11-3, pp. 656–660. (In Russ.)
  6. Trifonov Yu.V., Sokolov D.Yu. [Reducing the risks of innovation activity on the basis of determining the life cycle of innovation]. Vestnik Nizhegorodskogo universiteta im. N.I. Lobachevskogo = Vestnik of Lobachevsky State University of Nizhny Novgorod, 2013, no. 3-3, pp. 243–245. (In Russ.)
  7. Shvedov V.P. [Risk management of project financing for innovations]. Vestnik Zabaikal'skogo gosudarstvennogo universiteta = Transbaikal State University Journal, 2012, no. 9, pp. 113–121. (In Russ.)
  8. Ageeva S.D. [Financing of innovation: Sources, risks, interests]. EKO = ECO, 2012, no. 5, pp. 4–5. (In Russ.)
  9. Ermasov S.V., Ermasova N.B. [Formation of systems of multilevel financing of risks of innovations]. Upravlenie riskom = Risk Management, 2014, no. 2, pp. 21–36. (In Russ.)
  10. Pavlova D.N. [Risks in the process of introducing innovations]. Voprosy sovremennoi nauki i praktiki Universitet im. V.I. Vernadskogo = Problems of Contemporary Science and Practice. Vernadsky University, 2011, no. 2, pp. 290–294. (In Russ.)
  11. Mokridin R.Yu. [The Risks of the Commercialization of Innovations]. Izvestiya Moskovskogo gosudarstvennogo tekhnicheskogo universiteta MAMI = Izvestiya MGTU MAMI, 2011, no. 2, pp. 225–231. (In Russ.)
  12. Nechaev S., Bulochka M. [Financial risks during elaboration and extension of technical-technological innovations]. APK: ekonomika, upravlenie = AIC: Economics, Governance, 2007, no. 4, pp. 66–68. (In Russ.)
  13. Kazak A.Yu., Slepukhina Yu.E. [Modern methods of estimation project risk: Tradition and innovation]. Vestnik UrFU. Ser.: Ekonomika i upravlenie = Bulletin of Ural Federal University. Series Economics and Management, 2013, no. 2, pp. 13–26. (In Russ.)
  14. Twiss B. Managing Technological Innovation. London, Longman Group, 1982.
  15. Cooper L.P. A Research Agenda to Reduce Risk in New Product Development through Knowledge Management: A practitioner perspective. Journal of Engineering and Technology Management, 2003, vol. 20, iss. 1-2, pp. 117–140.
  16. Haltiwanger G., Landaeta R.E., Pinto C.A., Tolk A. Understanding the Relationship between Risk Management and Knowledge Management: A literature review and extension. International Journal of Knowledge Management Studies, 2010, vol. 4, iss. 3, pp. 281–300. doi: 10.1504/IJKMS.2010.038170
  17. Massingham P. Knowledge Risk Management: A framework. Journal of Knowledge Management, 2010, vol. 14, iss. 3, pp. 464–485. doi: 10.1108/13673271011050166
  18. Perrott B.E. A Strategic Risk Approach to Knowledge Management. Business Horizons, 2007, vol. 50, iss. 6, pp. 523–533. doi: 10.1016/j.bushor.2007.08.002
  19. Ilvonen I., Jussila J.J., Kärkkäinen H. Towards a Business-Driven Process Model for Knowledge Security Risk Management: Making sense of knowledge risks. International Journal of Knowledge Management, 2015, vol. 11, iss. 4, pp. 1–18. doi: 10.4018/IJKM.2015100101
  20. Popov E.V., Vlasov M.V. [Risks of knowledge generation]. Upravlenie riskom = Risk Management, 2008, no. 1, pp. 61–64. (In Russ.)
  21. Vlasov M.V., Popov E.V. [Directions of decrease in risks of production of new knowledge]. Izvestiya Ural'skogo gosudarstvennogo ekonomicheskogo universiteta = Journal of Ural State University of Economics, 2006, no. 1, pp. 102–109. (In Russ.)

View all articles of issue

 

ISSN 2311-8725 (Online)
ISSN 2073-039X (Print)

Journal current issue

Vol. 20, Iss. 9
September 2021

Archive