INVESTING INTO INNOVATIVE ACTIVITIES OF ENTERPRISES
Keywords:investment resources, innovation, innovations, financial assets, sources of finance, optimization, investment structure, financing
The article presents the research findings on optimization of funding sources, the selection of the structure of sources of investment assets accumulation and developing practical recommendations for effective managerial decision-making on the choice of relevant financing alternatives for innovations funding. Evidence is provided that efficient performance of innovative enterprises contributes to the overall national economic development and makes a significant source of budget replenishment at all levels. Enhancing innovative entrepreneurship is a critical economic driver that challenges effective government support and investment. Under limited availability of investment assets there is an urgent need to identify the best method of their distribution, in particular, to estimate a rational share of investment which could be used to foster innovation activities. Implementation of the national economy and business entities innovative development model depends critically on the availability and accessibility of multiple investment sources. This issue is particularly acute for business which lays the basis for the development of the key sectors of economy. The paper seeks to substantiate an adaptive procedure for the investment structure optimization to facilitate innovative development of economic entities subject to optimality criteria, from the perspectives of both the investment recipient and the investor. A methodological approach has been suggested that allows for better visual perception to evaluate the contribution of particular investment sources in increasing the efficiency of investment process to boost business innovative development, compare different options for choosing the investment structure as well as to optimize the structure of an investment package.