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Liburkina L. M.

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Features of the Impact of External Effects of Innovation and Innovative Entrepreneurship on Economic Growth and Development of Society
Kramchaninova M. D., Kasatkina M. V.

Kramchaninova, Maiia D., and Kasatkina, Maryna V. (2024) “Features of the Impact of External Effects of Innovation and Innovative Entrepreneurship on Economic Growth and Development of Society.” Business Inform 5:104–111.
https://doi.org/10.32983/2222-4459-2024-5-104-111

Section: Innovative Processes

Article is written in Ukrainian
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UDC 330.341.1:338.2:334.012.82

Abstract:
The aim of the article is to determine the features of the relationship between innovative entrepreneurship and external effects arising from the introduction of innovations, from the standpoint of understanding under what conditions the losses that society bears, also the numerous complex risks from the introduction of innovations, can be acceptable, justified and properly compensated. In a complex, dynamic world, innovative technology and entrepreneurship play a crucial role in overall economic development. Along with this, the carried out study of many aspects of the impact of innovation and innovative entrepreneurship on economic growth and development of society has also revealed a significant number of negative external effects that arise at different economic levels and which today are almost not regulated. These external effects accumulate, transform, and give rise to other additional effects. Despite a large number of studies, various attempts by scholars to advance in the elimination of negative externalities have not yet provided an adequate organizational and methodological approach to such an internalization of these effects, which could be considered quite effective. Based on the analysis of scientific sources, one of the main reasons for the imperfect mechanism for eliminating the negative consequences of externalities of innovation activity is the insufficiency of the development of the taxonomy of externalities – due to the lack of progress in the establishment and distribution of property rights to external effects and the appropriate differentiation of possible types of externalities in terms of their significance and scale. The existing institutional possibilities of such regulation are not satisfactory and should be transformed in accordance with the new socioeconomic needs of society. The authors also note that due to the increased complexity and lack of a universal approach to the valuation of external effects, the development of an appropriate mechanism for regulating externalities actualizes the study of a broader issue of management accounting in the context of the above problem.

Keywords: entrepreneurial sector, external effects, innovations, valuation, innovative entrepreneurship, regulation of externalities, internalization.

Fig.: 1. Tabl.: 1. Bibl.: 23.

Kramchaninova Maiia D. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Economics and Entrepreneurship, Volodymyr Dahl East Ukrainian National University (17 Ioanna Pavla II Str., Kyiv, 01042, Ukraine)
Email: [email protected]
Kasatkina Maryna V. – Senior Lecturer, Department of Economics and Entrepreneurship, Volodymyr Dahl East Ukrainian National University (17 Ioanna Pavla II Str., Kyiv, 01042, Ukraine)
Email: [email protected]

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