Yashin S.N.Lobachevsky State University of Nizhny Novgorod - National Research University, Nizhny Novgorod, Russian Federation jashinsn@yandex.ru
Soldatova Y.S.Lobachevsky State University of Nizhny Novgorod - National Research University, Nizhny Novgorod, Russian Federation julia2511@bk.ru
With the increase in the speed of an innovation implementation, stock market development, the scientific and technological progress and entrepreneurship, with striving of managers of companies to pursue their interests, the Russian enterprises start to assess the efficiency of their activities on the basis of market value, which acts as a criterion that takes into account the requirements of all stakeholders, as well as an external environment instability. The main purpose of an enterprise activity becomes maximizing of its market value. The article considers the basic aspects of the cost approach to managing innovation activity of an enterprise, which enables to use the value of company as one of the main factors to enhance the level of innovation development. The authors provide calculation of economic value added, and innovative development level of a number of the Russian industrial enterprises of metallurgical complex, and also identify the dependence of the innovative development level of an enterprise on its value. We indicate the ways to improve the level of innovation development of enterprises. The paper points out that the basis of the valuation approach to performance management is the management of enterprises on the basis of such integrated financial indicator as an enterprise value. The key to this approach is the assessment, identification and monitoring of changes in the value of an enterprise, while the traditional methods of business valuation mainly provide only pointwise in time result, and which does not contemplate continuous monitoring of the current situation. The authors pay particular attention to the level of innovation development and its influence on enterprise value, which implies the extension of existing and developing new approaches to reporting on the effectiveness of an enterprise innovation and its evaluation criteria.
Keywords: cost-based approach, enterprise market cost, economic value added, innovation activity, level, innovation development
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