Methodology of Financial Research by Stages of Innovation Process

Abstract

The article deals with issues related to the peculiarities of the methodology of conducting financial research at the stages of innovation process. Important in the author's approach is the formulation of the problem of forming a certain set of research methods for the stages of innovation process from the standpoint of financial results. The following methods were used in the research: dialectical method and methods of analysis and synthesis, methods of comparison and generalisations, structural and logical analysis. To achieve the set goal, namely, to determine the composition of research methods of innovation process by stages, each of which has its own specificity and may require a unique set of methods, a comparative analysis of interrelated research objects, which are the innovation process, the life cycle of the product (products, services, objects) and scientific and technical preparation of production. For the studied object – the innovation process – an analysis was made and two main research subjects, certain stages of the innovation process, were distinguished: fundamental and applied research. Complexes of research methods were formed for each of them for the first time in order to determine financial goals and objectives. It is proposed to consider the determination of the maximum amount of budget expenditures for the implementation of innovative processes as a financial goal of the research of objects of fundamental and applied research. A matrix of complexes of research methods for the stages of the innovation process with expected tasks and results of financial activity was formed. The conclusions obtained as a result of the research can be useful in practices of employees of research institutions and organisations, graduate students and students of higher educational institutions researching the problems of innovative development and implementing the stages of the innovation process