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Evaluating the Relationship between Investment in Innovation and the Volume of Sold Innovative Products in the Industry of Ukraine

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  • Larysa Kovchuha

    (Institute of Industrial Economics of the National Academy of Sciences of Ukraine, Kyiv, Ukraine)

Abstract

Applying the correlation and regression analysis, the study of the relationship between the volume and structure of innovation costs and the volume of sold innovative products (SIP) in industry was carried out on the example of Ukraine. The time lag of the costs-of-sales impact was also considered. It was hypothesized that the total volume of sold innovative products and their structure (the share of new products for the market, the share of products sold abroad) depend on different types of investment in innovation. The correlation and regression analysis showed that the components of investment in innovation influenced differently the volume and structure of SIP, which confirmed the hypothesis. The total amount of SIP largely depends on the level of costs to purchase machinery, equipment and software, as well as costs related to the component "Other". Positive dynamics of sold innovative products that are new to the market, as well as the products sold abroad, is largely determined by the volume of expenditures on external scientific research. Thus, by influencing the structure of investment in innovation, a company can significantly increase the level of its competitiveness.

Suggested Citation

  • Larysa Kovchuha, 2020. "Evaluating the Relationship between Investment in Innovation and the Volume of Sold Innovative Products in the Industry of Ukraine," Virtual Economics, The London Academy of Science and Business, vol. 3(3), pages 67-79, July.
    • Handle: RePEc:aid:journl:v:3:y:2020:i:3:p:67-79
    DOI: 10.34021/ve.2020.03.03(4)
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