Safronov A.D.Published in:
Creative Economy
– Volume 11, Number 9 (September 2017)

JEL classification: O00, O10, O32

Keywords: innovations and R&D, innovative incentives, Internal factors of innovation activity


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Abstract:

The article considers the factors of innovation activities of companies related to internal factors, that either characterize the company, for example, its size, age and shareholder structure, or are decisions made by the company, for example, the decision to compete in international markets or to hire highly qualified specialists. The analysis in this article shows that innovations are in demand especially in high-tech manufacturing sectors, where the company's success depends more on R&D. At the same time, small-sized business companies are often those who develop products that later become innovative on the world market. Besides, R&D activity increases the chances of successful innovation, but it is by no means a prerequisite for innovation.

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