Subject The article considers theoretical and practical issues of State financial policy of companies' innovative development regulation, a system of tools of economic, administrative and legal regulation, and a mechanism of their functioning. Objectives The study aims to identify factors impacting the innovative development of companies, develop methods and tools to adapt the State financial policy and create a favorable environment for innovation. Methods The methodological basis of the study includes general scientific principles and research techniques, i.e. analysis and synthesis, induction and deduction. Within the integrated approach, I also used grouping, comparison, calculation, and analytical methods. Results The paper identifies problems of financial policy at the national and international level. It presents tools of direct and indirect State regulation of investment activity in the innovation sphere and a system of methods of direct and indirect financial regulation of innovative development by the State. The findings may be useful for financial and investment policy development at the State level, for industrial companies, and for educational process when teaching accounting and analytical disciplines. Conclusions The described techniques and tools can increase investment activity with dominating innovation component, which is required to boost innovation processes in Russian economy.
Keywords: financial policy, innovative development, State policy
References:
Aliev A.A. [Integration of investment policy and strategic development of Azerbaijan]. Vestnik Rossiiskogo ekonomicheskogo universiteta im. G.V. Plekhanova = Vestnik of Plekhanov Russian University of Economics, 2014, no. 4, pp. 90–100. (In Russ.)
Karpenko O.A. [A role of the State in financing the innovation]. Fundamental'nye i prikladnye issledovaniya v sovremennom mire = Fundamental and Applied Research in Modern World, 2014, vol. 2, no. 5, pp. 9–13. (In Russ.)
Karpenko O.A. [Sources of enterprise’s innovative activity financing]. Kreativnaya ekonomika = Journal of Creative Economy, 2014, no. 7, pp. 40–47. (In Russ.)
Sinel'shchikova N.V., Gromova E.I., Keri I.T. [The role of innovation in financial security of companies]. Vestnik Rossiiskogo ekonomicheskogo universiteta = Vestnik of Plekhanov Russian University of Economics, 2015, no. 3, pp. 31–36. (In Russ.)
Ekimova K.V., Aliev A.A. [On methods to evaluate the financial capacity of innovative development (evidence from leading oil and gas companies)]. Obshchestvo i ekonomika = Society and Economics, 2016, no. 1, pp. 30–36. (In Russ.)
Ordov K.V. [Interaction of innovation and capitalization of companies]. Slavyanskii forum = Slavic Forum, 2014, no. 1, pp. 319–323. (In Russ.)
Kuz'minykh N.A. [Approaches to evaluating the results of innovative development]. Vestnik Samarskogo universiteta. Ekonomika i upravlenie = Vestnik of Samara State University. Economy and Management, 2011, no. 3, pp. 45–51. (In Russ.)
Tret'yakova E.V., Sharkova A.V. [Financial infrastructure to support innovative entrepreneurship]. Nauchno-issledovatel'skii finansovyi institut. Finansovyi zhurnal = Financial Journal, 2011, no. 3, pp. 113–126. (In Russ.)
Kokurin D. [Public financing of innovation activities]. Finansovyi biznes = Financial Business, 2000, no. 11-12, pp. 37–40. (In Russ.)
Barmuta K.A. [The impact of investment in innovation on the profit of machine-building enterprises of the Rostov oblast]. Vestnik Donskogo gosudarstvennogo tekhnicheskogo universiteta = Vestnik of DSTU, 2007, vol. 7, no. 1, pp.101–109. (In Russ.)
Shevchenko A.A. [Evaluation of financial potential in determining the company's capacity for modernization]. Vestnik molodezhnoi nauki – 2013. Kaliningradskii gosudarstvennyi tekhnicheskii universitet = Journal of Youth Science – 2013.Kaliningrad State Technical University, 2013, pp. 202–204. (In Russ.)
Fedosov P.E. [On warped structure of modern Russian economy]. Sibirskii torgovo-ekonomicheskii zhurnal = Siberian Commerce and Economic Journal, 2016, no. 1, pp. 7–9. (In Russ.)
Baurina S.B., Darbisheva P.G. [The role of the State in innovative economy development]. Innovatsii: perspektivy, problemy, dostizheniya: materialy III mezhdunarodnoi nauchnoprakticheskoi konferentsii [Proc. 3rd Int. Sci. Conf. Innovation: Prospects, Challenges, Achievements]. Moscow, Plekhanov Russian University of Economics Publ., 2015, pp. 5–7.
Tsikhotsskii F.N., Telkova M.G., Kritsova M.K. [State regulation of natural monopolies]. Transportnoe delo Rossii = Transport Business of Russia, 2014, no. 1, pp. 172–175. (In Russ.)
Ishina I.V., Dolina O.N. [Financial innovation policy: International dimension]. Audit i finansovyi analiz = Audit and Financial Analysis, 2014, no. 6, pp. 309–311. (In Russ.)
Shash N., Borodin A. [Strategic planning in the budget process under turbulent economy]. Obshchestvo i ekonomika = Society and Economy, 2014, no. 12, pp. 11–23. (In Russ.)
Slepov V.A., Chekmarev V.E. [Shadow financial flows and approaches to measuring the intensity]. Finansovaya ekonomika = Financial Economics, 2015, no. 2, pp. 13–20. (In Russ.)
