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Economic Mechanism of Optimizing the Innovation Investment Program of the Development of Agro-Industrial Production

Author

Listed:
  • Brockova Katarina

    (Assoc. Prof. PhD. University of Economics in Bratislava. Dolnozemská cesta 1. 852 35. Bratislava. Slovakia.)

  • Rossokha Volodymyr

    (Prof. Dr Sc. National Scientific Centre, Institute of Agrarian Economics. Heroiv Oborony str.10. 03127. Kyiv. Ukraine.)

  • Chaban Vitalii

    (Assoc. Prof. PhD. Kyiv National Economic University named after Vadym Hetman. Peremohy Ave 54/1. 03057. Kyiv. Ukraine.)

  • Zos-Kior Mykola

    (Prof. Dr Sc. Poltava State Agrarian Academy. Skovoroda str. 1/3. 36003. Poltava. Ukraine.)

  • Hnatenko Iryna

    (Assoc. Prof. Dr Sc. Kyiv National University of Technologies and Design. Nemyrovycha-Danchenka str. 2. 01011. Kyiv. Ukraine.)

  • Rubezhanska Viktoriia

    (PhD. Luhansk Taras Shevchenko National University. Gogol str. 1. 92700. Starobilsk. Ukraine.)

Abstract

The progressive activity of agro-industrial production in the context of imperfect competition, turbulence of the environment and unexpected market challenges in the agro-industrial market because of spread of COVID-19 should be ensured by the most effective selection of the optimal innovation and investment program. Such program must be adapted to the realities of today, provide effective innovation projects and financial resources for their implementation support. This can be achieved due to the formation of a comprehensive innovation and investment program for multidirectional projects taking into account the required amount of money at all stages of risky innovative activities implementation. In this regard, the aim of the article is to conceptualize the implementation of the innovation and investment program in the activities of agro-industrial enterprises using an adaptive model of the optimal selection of the most effective projects or diversification of existing ones and planning their intrusion into the consumer market by choosing the optimal financial strategy for innovation support. To achieve the aim, the following methods were used: observation, system analysis, economic and mathematical and experimental modeling, abstract-logical and graphical method. The economic and mathematical model developed by the authors can be used in the practical activity of agro-industrial enterprises. This model enables to determine a promising strategy of innovative development and form the target programs for their financial support under conditions of limited resources and market changes in agriculture.

Suggested Citation

  • Brockova Katarina & Rossokha Volodymyr & Chaban Vitalii & Zos-Kior Mykola & Hnatenko Iryna & Rubezhanska Viktoriia, 2021. "Economic Mechanism of Optimizing the Innovation Investment Program of the Development of Agro-Industrial Production," Management Theory and Studies for Rural Business and Infrastructure Development, Sciendo, vol. 43(1), pages 129-136, March.
    • Handle: RePEc:vrs:mtrbid:v:43:y:2021:i:1:p:129-136:n:10
    DOI: 10.15544/mts.2021.11
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    More about this item

    Keywords

    economic mechanism; optimization; innovation-investment program; the development of agro-industrial production; innovative project; investments; economic-mathematical model; economic effect; cash flow; target function;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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