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Approaches To Managing Innovative Risks Of Industrial Companies

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  • M. O. Kuznetsova

Abstract

The article reviewed the literature, which made it possible to identify groups of industrial companies in terms of sustainability and sensitivity to innovation risks. The conducted cluster analysis made it possible to single out four groups of Russian industrial companies according to the level of stability and sensitivity to innovation risks: leaders, innovators, conservatives and low-performing companies.A study was also conducted to identify the level of risk appetite and the level of risk management culture for each cluster of industrial companies in terms of sustainability and sensitivity to innovative risks. As part of the study, approaches to risk management were identified for each cluster of industrial companies in terms of the level of sustainability and sensitivity to innovative risks. The article proposes measures to improve the risk management system of industrial companies. These activities will ensure the continuous development of industrial companies and increase their level of competitiveness.

Suggested Citation

  • M. O. Kuznetsova, 2022. "Approaches To Managing Innovative Risks Of Industrial Companies," Strategic decisions and risk management, Real Economy Publishing House, vol. 12(4).
    • Handle: RePEc:abw:journl:y:2022:id:982
    DOI: 10.17747/2618-947X-2021-4-354-363
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    References listed on IDEAS

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    1. Haar, Lawrence & Gregoriou, Andros, 2021. "Risk management and market conditions," International Review of Financial Analysis, Elsevier, vol. 78(C).
    2. Keiran Sharpe, 2018. "On Risk and Uncertainty, and Objective versus Subjective Probability," The Economic Record, The Economic Society of Australia, vol. 94(S1), pages 49-72, June.
    3. Avagyan, Vardan & Camacho, Nuno & Van der Stede, Wim & Stremersch, Stefan, 2022. "Financial projections in innovation selection: the role of scenario presentation, expertise, and risk," LSE Research Online Documents on Economics 112474, London School of Economics and Political Science, LSE Library.
    4. Yasuhiro Sakai, 2018. "On the Economics of Risk and Uncertainty: A Historical Perspective," Discussion Papers CRR Discussion Paper Series A: General 28, Shiga University, Faculty of Economics,Center for Risk Research.
    Full references (including those not matched with items on IDEAS)

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