Impact of Globalization on Innovation project Risks Estimation

Abstract

The impact of globalization on macro-economic processes is undisputable. However, it has an indirect impact on macro-economic processes, too. The current stage of the globalization development differs from the previous ones by the increased role and independence in managing innovative processes. It requires changes in approaches and methods of estimating the innovation project risks. The existing methods and ways to estimate risks of an innovation project do not allow defining the impact of globalization on its efficiency. That is why there is a need to develop new approaches and methods that take into account the state of the market, and to apply new financial instruments and strategies. The work researches the impact of globalization on estimating risks of the innovation project. For this purpose the selection of a regulation type – an integrated corporate structure (ICS) to solve international problems, terms and conditions of forming it and stable functioning model were stipulated. The research novelty is related to the stipulation of the hypothetic model of ICS and innovation project in the form of the system formed by using three interdependent systems: ICS system, risks system, and system of conditionally defined stages of implementation. It allowed revealing the impact of globalization on the estimation of the innovation project risks. The aggregate of these systems is a model of globalization (ICS) and the real innovation project. In order to solve this task, we used the system approach to analyzing and estimating processes, the factorial analysis of many-stage processes, decision-making techniques, and the S. Pontriagin’s analytical method. The research resulted in forming the model to estimate the ICS impact on risks of the innovation project.

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