Kozlova N.O.Financial University under Government of Russian Federation, Tula Branch, Tula, Russian Federation 95kno@mail.ru ORCID id: not available
Subject The article considers the valuation of innovative potential of the region that enables to manage innovation on the basis of financially sound management decisions. Objectives We focus on developing a cost approach to region’s innovative potential assessment to justify the funding volumes for Federal and regional programs for innovation-driven growth. Methods The study employs methods of asset valuation on the basis of income and cost approaches, methods of descriptive statistics, and data analysis. Results We developed practice-oriented methods for region’s innovative potential valuation. The paper distinguishes between the current and perspective innovative potential. The former one is built, using the existing innovative businesses and services, innovative technologies of management in government and provision of services in the social sphere. The latter – using the intellectual assets created in the region, which have not yet found an investor, the opportunities of inclusion of certain organizations in global and interregional innovative and technological cycles, the planned innovations in administrating authorities and in the social sphere. The paper substantiates approaches to valuation for each component. Conclusions The offered methodologyis more preferable to indexes that are being used now. It enables better management of innovative development of regions, including justification of areas and volumes of financing, and ultimately, contributes to increasing the return on investment.
Keywords: assessment, cost approach, innovative potential, region
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