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Model of statistical economic profile of innovative biomedical product value formation and update

Author

Listed:
  • Irina Maslova

    (Orel State University, Russian Federation)

  • Boris Maslov

    (Orel State University, Russian Federation)

  • Irina Korostelkina

    (Orel State University, Russian Federation)

  • Liudmila Popova

    (Orel State University, Russian Federation)

Abstract

Modern global science develops various concepts, theories, and models that have a certain value in different sectors of national economy. While there is a significant scientific foundation in the field of basic and applied research in biomedicine and biotechnology nowadays, this line has not gained proper momentum in economic terms. This concerns both formation of value, including value added, of innovative biomedical products and its accounting at the micro level, as well as innovation value formation and update at the government level. For these purposes, it is proposed to use statistical accounting as the basis for studying the quantitative side of innovative product value creation stages in the medical field. The purpose of statistical accounting is both to accumulate the most complete meaningful information and data characterizing essential conditions of these processes and their results and to create an information base for regulating the phenomena of added value formation and update in the field of biomedicine and analyzing their trends and patterns based on a system of interrelated quantitative and qualitative indicators. The article forms a macro- and mesostructure of a statistical economic profile of innovative biomedical product value formation and update and shows the level of cost blocks in groups of cost indicators of the profile. An equation for value formation in major elementary subprocesses was derived: full or partial employment of resources, formation of added value of a staple product, resources, and by-products. The proposed mathematical model is decomposed into three equation components: full and partial employment of resources as well as generation of all the elements of value added. Introduction of the authors’ development would allow to ensure a systematic quantitative assessment of key aspects of the added value formation and update processes in the field of biomedicine.

Suggested Citation

  • Irina Maslova & Boris Maslov & Irina Korostelkina & Liudmila Popova, 2019. "Model of statistical economic profile of innovative biomedical product value formation and update," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 7(1), pages 471-483, September.
    • Handle: RePEc:ssi:jouesi:v:7:y:2019:i:1:p:471-483
    DOI: 10.9770/jesi.2019.7.1(33)
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    References listed on IDEAS

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    1. Aichele, Rahel & Heiland, Inga, 2018. "Where is the value added? Trade liberalization and production networks," Journal of International Economics, Elsevier, vol. 115(C), pages 130-144.
    2. Dasí González, Rosa Mª & Montesinos Julve, Vicente & Vela Bargues, Jose Manuel, 2018. "Towards convergence of government financial statistics and accounting in Europe at central and local levels," Revista de Contabilidad - Spanish Accounting Review, Elsevier, vol. 21(2), pages 140-149.
    3. Viktor Koval & Ganna Duginets & Oksana Plekhanova & Andrii Antonov & Mariana Petrova, 2019. "On the supranational and national level of global value chain management," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 6(4), pages 1922-1937, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    value added; innovation; costs; biomedicine; statistics;
    All these keywords.

    JEL classification:

    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General

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