Model for assessing the financing of innovative infrastructure of timber enterprises

Department of Economics and Finance, State University of Forestry and Technologies named after G.F. Morozov, 8, Timiryazeva St., 394087 Voronezh, Russia

^* Corresponding author: lesteh_nauka@mail.ru

Abstract

The article reflects the results of fundamental research aimed at increasing the level of innovative development of timber enterprises. It is proposed to carry out activities to form an innovative infrastructure of the analyzed group of enterprises. The presented model reflects the possibility of attracting financial resources in order to conduct effective innovation activities and maintain the required level of innovation activity. The results obtained were based on the methods of economic and mathematical analysis, comparison of parameters, algorithms for financial calculations. When forming the model, the study reflects all the necessary costs associated with the implementation of the proposed measures in the innovative activities of enterprises engaged in the forest industry. The article also takes into account the influence of various factors (environmental, economic and geopolitical factors) that affect the efficiency of the implementation of an innovative project and the optimality of investment volumes. A function has been formed that determines the possibility of adjusting and redistributing financial resources, adjusted for crisis and sanctions conditions in the economy. Based on the results of the study, the ranking of timber enterprises was carried out and the optimal ratio of attracting financial resources to increase the level of innovative development of forest industry enterprises was determined.