Improving regulatory directions for financial stimulation of innovative investment in the European Union

Authors

DOI:

https://doi.org/10.15587/1729-4061.2024.309596

Keywords:

innovative investment policy, innovative investment, measures of financial stimulation, financing

Abstract

The object of this study is the existing systems of regulatory identification of forms and methods of financial support and stimulation of innovative investment within the European Union. For the purposes of the study, existing approaches to determining the content of state policy in the field of innovative investment within the European Union were summarized. The existing methods and procedures of financial stimulation and innovative investment have been studied, their advantages and disadvantages were determined. It was established that the existing systems of support for innovative investment do not fully meet the needs of participants in innovative relations. The expediency of improving the existing methods of regulatory fixation of methods of financial stimulation of innovative investment is substantiated. The concept of the structure of the regulatory policy of innovative investment within the European Union has been proposed. Directions for improving current international agreements and treaties of the European Union in the field of innovative investment have been formed in the part related to the formation of a system of means of financial stimulation of innovative investment. An indicative system of promising means, methods, and techniques of financial stimulation of innovative investment has been defined.

The research is aimed at the formation of general theoretical foundations for improving the regulatory system of innovative investment, as well as the analysis and systematization of existing methods and techniques for identifying means of financial support for innovative investment. The research results could be used in the formation of international regulatory acts, acts of the national level, and serve as a basis for further scientific research on these issues

Author Biography

Bohdan Hnatkivskyi, Ivan Franko National University of Lviv

Doctor of Economic Sciences, Professor

Department of Finance, Money Circulation and Credit

References

  1. Dunning, J. H. (2002). Theories and Paradigms of International Business Activity. Cheltenham, UK: Edward Elgar Publishing. https://doi.org/10.4337/9781843767053
  2. Davydiuk, O., Duiunova, T., Shovkoplias, H., Sivash, O., Hlushchenko, S., Lisohorova, K., Maryniv, I. (2023). Directions for improving the international legal regulation of the support program for the transfer of innovations and technologies "Horizon Europe". Eastern-European Journal of Enterprise Technologies, 2 (13 (122)), 85–91. https://doi.org/10.15587/1729-4061.2023.276747
  3. Vasylchuk, I., Izmaylova, N., Smyrna, O., Petrishyna, T., Slusarenko, K. (2021). Access to Finance as a Driver Innovation. SHS Web of Conferences, 100, 01020. https://doi.org/10.1051/shsconf/202110001020
  4. Telnova, H., Petchenko, M., Tkachenko, S., Gurzhiy, T., Pyrohov, S. (2022). Factors of venture capital investment activation. Financial and Credit Activity Problems of Theory and Practice, 2 (43), 46–52. https://doi.org/10.55643/fcaptp.2.43.2022.3591
  5. Andrijauskiene, M., Ioannidis, D., Dumciuviene, D., Dimara, A., Bezas, N., Papaioannou, A., Krinidis, S. (2023). European Union Innovation Efficiency Assessment Based on Data Envelopment Analysis. Economies, 11 (6), 163. https://doi.org/10.3390/economies11060163
  6. Yevtushenko, V., Sviezhentsev, O. (2018). Components of state innovative policy and the mechanism of its implementation in the measurement of the world experience. Bulletin of V. N. Karazin Kharkiv National University Economic Series, 94. https://doi.org/10.26565/2311-2379-2018-94-05
  7. Fajri, R. F., Syamsul Maarif, Yuli Subiakto, Pujo Widodo, Kusuma (2023). Japan’s Technology Investment Strategy And Innovative Approach To Enhancing Resilience And Sustainable Development In Indonesia. International Journal of Humanities Education and Social Sciences (IJHESS), 3 (2). https://doi.org/10.55227/ijhess.v3i2.593
  8. Catea, R.-M. (2022). EU crowdfunding regulation. Challenges of the Knowledge Society. Bucharest, 104–108. Available at: http://cks.univnt.ro/download/CKS_2022.pdf
  9. Marhasova, V., Garafonova, O., Sakun, O., Fedorenko, A., Yankovoi, R. (2021). Financial instruments of stimulation of investment activity: foreign aspect. Financial and Credit Activity Problems of Theory and Practice, 4 (35), 121–128. https://doi.org/10.18371/fcaptp.v4i35.221841
  10. Intramural R&D expenditure (GERD) by source of funds. Source of data: Eurostat; Organisation for Economic Cooperation and Development (OECD). https://doi.org/10.2908/TSC00031
  11. The Measurement of Scientific, Technological and Innovation Activities. https://doi.org/10.1787/24132764
  12. Regulation (EU) 2021/695 of the European Parliament and of the Council of 28 April 2021 establishing Horizon Europe – the Framework Programme for Research and Innovation, laying down its rules for participation and dissemination, and repealing Regulations (EU) No 1290/2013 and (EU) No 1291/2013 (Text with EEA relevance)Text with EEA relevance. Available at: https://eur-lex.europa.eu/eli/reg/2021/695
  13. Regulation (EU) 2020/1503 of the European Parliament and of the Council of 7 October 2020 on European crowdfunding service providers for business, and amending Regulation (EU) 2017/1129 and Directive (EU) 2019/1937 (Text with EEA relevance). Available at: http://data.europa.eu/eli/reg/2020/1503/oj
  14. Treaty of Lisbon. Amending the Treaty on European Union and the Treaty Establishing the European Community. (2007/C 306/01). Available at: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:12007L/TXT
Improving regulatory directions for financial stimulation of innovative investment in the European Union

Downloads

Published

2024-08-23

How to Cite

Hnatkivskyi, B. (2024). Improving regulatory directions for financial stimulation of innovative investment in the European Union. Eastern-European Journal of Enterprise Technologies, 4(13 (130), 55–63. https://doi.org/10.15587/1729-4061.2024.309596

Issue

Vol. 4 No. 13 (130) (2024): Transfer of technologies: industry, energy, nanotechnology

Section

Transfer of technologies: industry, energy, nanotechnology

License

Copyright (c) 2024 Bohdan Hnatkivskyi

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

The consolidation and conditions for the transfer of copyright (identification of authorship) is carried out in the License Agreement. In particular, the authors reserve the right to the authorship of their manuscript and transfer the first publication of this work to the journal under the terms of the Creative Commons CC BY license. At the same time, they have the right to conclude on their own additional agreements concerning the non-exclusive distribution of the work in the form in which it was published by this journal, but provided that the link to the first publication of the article in this journal is preserved.

A license agreement is a document in which the author warrants that he/she owns all copyright for the work (manuscript, article, etc.).
The authors, signing the License Agreement with TECHNOLOGY CENTER PC, have all rights to the further use of their work, provided that they link to our edition in which the work was published.
According to the terms of the License Agreement, the Publisher TECHNOLOGY CENTER PC does not take away your copyrights and receives permission from the authors to use and dissemination of the publication through the world's scientific resources (own electronic resources, scientometric databases, repositories, libraries, etc.).
In the absence of a signed License Agreement or in the absence of this agreement of identifiers allowing to identify the identity of the author, the editors have no right to work with the manuscript.
It is important to remember that there is another type of agreement between authors and publishers – when copyright is transferred from the authors to the publisher. In this case, the authors lose ownership of their work and may not use it in any way.