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Institutional criteria for the assessment of intellectual products` potential realization in the venture financing system

Author

Listed:
  • Tatyana Volkova

    (Institute of Economics)

  • Marina Kuznetsova

    (Institute of Economics)

Abstract

The objective of the research is to elaborate institutional criteria for the assessment of intellectual products` potential realization in the venture financing system which are not presented in the existing works on venture investments. Research methodology is based on synthesis of institutional and new institutional economics theory, theories of innovations, uncertainty and risk, management of innovations. Essential characteristics of venture financing are structured in the paper, its treatment as an economic category is suggested. A number of common institutional criteria for the assessment of intellectual products` potential feasibility in the system of venture financing are outlined and grounded. The structure of institutional field of venture financing (by the example of Sverdlovsk region) is elaborated with consideration of projected development and coevolution of formal and informal institutions as a favorable environment for drawing into economic turnover and commercialization of technological developments and projects. Analytical investigation of structural elements for creation of institutional field of venture financing in Sverdlovsk region is performed, a range of common and specific problems, contradictions and recommendations are outlined. The paper introduces institutional criteria for the assessment of intellectual products` potential feasibility.

Suggested Citation

  • Tatyana Volkova & Marina Kuznetsova, 2012. "Institutional criteria for the assessment of intellectual products` potential realization in the venture financing system," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 125-133.
    • Handle: RePEc:ura:ecregj:v:1:y:2012:i:3:p:125-133
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    References listed on IDEAS

    as
    1. Tatyana Volkova, 2006. "Commercialization of intellectual products of the scientific sphere: institutional analysis," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(3), pages 98-111.
    2. Aleksandr Tatarkin & Svetlana Doroshenko, 2011. "Region as a self-developing socio-economic system: crossing the crisis," Economy of region, Centre for Economic Security, Institute of Economics of Ural Branch of Russian Academy of Sciences, vol. 1(1), pages 15-23.
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