Analyzing the innovation and investment activities of Russian agricultural engineering companies
Subject The article analyzes the current state of innovation and investment in agricultural engineering and offers mathematical models for investment management. It also considers factors contributing to and limiting the development of the agricultural engineering sector. Objectives The aim of the study is to review the dynamics of innovation processes in the Russian agricultural engineering industry based on the analysis of mathematical models of relevant indicators interrelation, including the profitability of investment projects aimed at innovation. Methods To build mathematical models and obtain quantity-related findings, we applied methods of systems analysis, econometrics and mathematical analysis. For multiparameter calculations and graphing, we used MathCad 15 application package. Results The paper presents polynomial models of trends in the indicators of innovation activity of enterprises and their comparative analysis. We formulated and analyzed the life cycle stages of innovation product of agricultural engineering enterprises. We offered a method to estimate the investment project payback period, taking into account the cost of each phase of the project. Conclusions The findings show that the main factor in increasing the efficiency of innovative activity of agricultural engineering enterprises is a reduction in investment repayment period through the income generated from innovation. We offer a calculation and graph method to estimate the distribution of investment in time, which enables to determine the repayment time of the total amount of investments in innovative projects.