FINANCE: THEORY AND PRACTICE
Vol. 26, No. 2’2022
FINANCETP.FA.RU
81
innovation in industries, considering the
recommendations presented. At the same time,
on the one hand, the relevance of solving the
problems associated with stimulating R&D
in the industry is certainly visible. On the
other hand, tax methods can also be used in
public policy as a tool that creates favorable
conditions for the development of innovation
activity [15]. Therefore, according to the
author of the article, further attention should
be paid to such measures as tax incentives for
companies operating in industrial sectors and
conducting R&D in domestic conditions, and
preferential interest rates on tax investment
loans.
The very low efficiency of R&D in industrial
sectors is also due to the fact that the state is
simultaneously the initiator of such R&D, the
customer, and the contractor [16, p. 63–64]. In
this regard, in the structure of the developed
model of financial incentives for the areas of
innovation activity of industries, sectoral areas
are identified, including grant support, state
guarantees, and the provision of tax investment
loans. Here it should be noted the importance
of cooperation between companies operating in
industrial sectors and research centers, which
will stimulate the implementation of R&D
programs..
FORECAsTING THE EFFICIENCY
OF THE DEVElOPED MODEl
OF FINANCIAL INCENTIVES FOR
INNOVATIONs IN THE INDUsTRY
After developing
a model of financial
incentives for innovation in industries, it is
necessary to analyze its effectiveness through
the prism of the Russian economy. Under
the effectiveness of the model of financial
incentives
for innovation in industries,
the authors of the article understand the
presence of a positive mutual influence on
the innovation activities of companies and
the gross domestic product of the Russian
Federation (hereinafter referred to as the
GDP of the Russian Federation), since this
parameter is a key macroeconomic indicator
in the system of national accounts (hereinafter
referred to as the SNA). At the same time, the
higher the value of financial investments in
innovation projects, the higher the GDP of the
Russian Federation. Its growth is explained
by the following aspects. Firstly, the integral
growth of the GDP depends on tax revenues
to the state budget, which will be higher
with an increase in the innovation activity
of companies in industrial sectors. Secondly,
the indirect growth of the GDP of the Russian
Federation
depends on the increase in
demand for innovative products sold. Thirdly,
a direct increase in the GDP of the Russian
Federation will be achieved through the active
implementation of innovation projects within
the framework of using the model of financial
incentives for innovation activity in the
industry created by the authors. Considering
the above facts, the analysis of efficiency
should be carried out by predicting changes
in the GDP of the Russian Federation using
the apparatus of correlation regression and
scenario analysis of the selected indicator.
To predict
changes in the GDP of the
Russian
Federation,
the authors of the
article take into account the division of all
companies operating in industrial sectors
into three groups, carried out earlier in [17],
due to the difference in their functioning in
the conditions of innovation activity: highly
active, medium active and low active. In
accordance with this, the authors propose
two significant
scenarios for increasing
innovation activity in industries. The first
scenario is base, it is typical for all selected
groups of companies in modern conditions,
when active financial incentives for Russian
entrepreneurship,
considering the flow
of digital processes, are not sufficiently
available. The second scenario is stimulating,
it has three sub-scenarios, each of which is
determined by the peculiarities of dividing
industrial
companies into highly active,
medium active and low active (
Table 2
). At the
same time, the stimulating scenario indicates
the implementation of a model of financial
incentives for innovation in industries, taking
into account digital processes.
According to the selected scenarios, the
authors of this article predicted the change
S. A. Manshilin, A. F. Leshchinskaya