Assessment of Financial Opportunities for Implementation of Innovation Potential by Mining Enterprises of Non-Ferrous Metallurgy of the North and the Arctic

Annotation

The analysis of methods for assessing the financial opportunities for increasing the economic efficiency of industrial enterprises using absolute and relative indicators and coefficients was carried out. A mechanism for determining financial possibilities for realizing innovative potential of northern mining enterprises of non-ferrous metallurgy, based on the method of assessing the three-component coefficient, which allows choosing the most rational strategy of scientific and technological development, taking into account financial resources and features of production functioning in the northern regions of the Russian Federation, was developed. It is shown that the proposed methodology can be used with limited information in the accounting statements provided in public access. On the basis of objective indicators, the research of innovation activity of twenty industrial enterprises of non-ferrous metallurgy directly operating in the North and the Arctic and included as subsidiaries and branches of seven largest corporations — PJSC MMC “Norilsk Nickel”, JSC “Mine Karalveem”, PJSC “Acron”, JSC “Mining company “Berelekh”, PJSC “Seligdar”, OJSC “Susumanzoloto”, JSC “Polymetal” for the period 2013–2019 was carried out. Studies showed the dependence of the innovation activity of northern enterprises of non-ferrous metallurgy on the level of financial security revealed by the method of assessing the three-component coefficient. Scientifically substantiated possibility of developing and implementing a strategy of innovation development of enterprises for the medium and long term periods based on the level of financial security is shown. Enterprises with high financial security or in special cases (with additional investments with normal financial security) are able to generate innovation technologies. As the analysis has shown, the majority of northern enterprises have low financial security, which does not allow them to count on effective innovative development without attracting a significant amount of targeted investments.

About authors

Vyacheslav A. TSUKERMAN, Ph.D. of Engineering Sciences, Аssociated Professor
Luzin Institute for Economic Studies — Subdivision of the Federal Research Centre “Kola Science Centre of the Russian Academy of Sciences” (IES KSC RAS), Apatity, Russia

Elena S. GORYACHEVSKAYA, researcher
Luzin Institute for Economic Studies — Subdivision of the Federal Research Centre “Kola Science Centre of the Russian Academy of Sciences” (IES KSC RAS), Apatity, Russia

Keywords

northern enterprise, non-ferrous metallurgy, methodology, assessment, financial capability, innovation potential

DOI

10.37482/issn2221-2698.2021.43.77

UDC

338.45:622:001.895(98)(045)