Financial instruments for managing innovation and investment projects

The monograph of D. Shestakov (dissertation), which is devoted to the study of financial instruments for managing innovation and investment projects, namely, their effectiveness in the field of innovation and investment project management. The author emphasizes the importance of such instruments for accelerating economic growth, which will lead to an increase in the standard of living of citizens and the effective development of a competitive economy. In this sense, the transformation of financial policy objectives in the context of economic changes should increase the impact of these financial instruments, among other things, on socio-economic processes, with an emphasis on the need to gradually create a favorable investment climate at the level of state regulation.

Innovative projects, unlike traditional investment projects, are often characterized by a fairly high level of uncertainty, and therefore, in most cases, require unique approaches and methodologies in the process of analysis and evaluation, often using tools such as real options to adequately manage the existing risks and uncertainties that are inherent in such projects.

A project should be called “innovative” if its scope, budget, implementation timeframe, and implementation technology cannot be clearly defined with normal management precision based on existing practical experience. This results in an innovation (a new method or process, device, material, etc.).

The conclusions and practical recommendations of this thesis were used by such enterprises as Modex Ukraine, UNIT.City Innovation Park, and the National University of Kyiv-Mohyla Academy.