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Innovative Value Creation in BRICS

Author

Listed:
  • I.A. Maslova
  • L.V. Popova

Abstract

The main scientific problem is the development of the cost modeling methodology of value-added accounting for the purpose of obtaining estimates of the value-added level of innovative products, which is necessary for making managerial, investment, production and other decisions at all levels of management and for monitoring the results of such decisions. The purpose of the article is to develop a methodology for accounting for the value added of innovative products, regarding the technology readiness levels for commercialization based on the analysis of problems and growth points of the national economy using the example of the BRICS international collaboration. The article revealed the features of innovative development of leading and developing countries, the need for the national economy in international collaborations to intensify innovative development, the existing problems in accounting for the value added of innovative products, the developed proprietary methodology for accounting for the value added of innovative products, regarding the technology readiness level for commercialization. The theoretical significance lies in the development of methodological foundations for accounting for the creation and distribution of value added, and the practical significance is determined by the fact that for the first time the methodology takes into account the technology readiness levels for commercialization, which gives a new approach to the practical assessment of the value-added innovation.

Suggested Citation

  • I.A. Maslova & L.V. Popova, 2018. "Innovative Value Creation in BRICS," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 3), pages 344-356.
    • Handle: RePEc:ers:journl:v:xxi:y:2018:i:special3:p:344-356
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    References listed on IDEAS

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    1. Balsmeier, Benjamin & Fleming, Lee & Manso, Gustavo, 2017. "Independent boards and innovation," Journal of Financial Economics, Elsevier, vol. 123(3), pages 536-557.
    2. Rudolfs Bems & Robert C. Johnson, 2017. "Demand for Value Added and Value-Added Exchange Rates," American Economic Journal: Macroeconomics, American Economic Association, vol. 9(4), pages 45-90, October.
    3. Robert C. Johnson & Guillermo Noguera, 2017. "A Portrait of Trade in Value-Added over Four Decades," The Review of Economics and Statistics, MIT Press, vol. 99(5), pages 896-911, December.
    4. Marcus Linder & Mats Williander, 2017. "Circular Business Model Innovation: Inherent Uncertainties," Business Strategy and the Environment, Wiley Blackwell, vol. 26(2), pages 182-196, February.
    5. Janet Ceglowski, 2017. "Assessing Export Competitiveness through the Lens of Value Added," The World Economy, Wiley Blackwell, vol. 40(2), pages 275-296, February.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Innovation; activity; BRICS; cost; value theory; international economic order and integration.;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • F02 - International Economics - - General - - - International Economic Order and Integration
    • O3 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights

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