Applied aspects of investments in innovation in Bulgarian companies

Industrial Business Department, University of National and World Economy, “Osmi dekemvri” str., 1700 Studentski grad, Sofia

^* Corresponding author: blagoev@unwe.bg

Abstract

Investment and innovation have traditionally been seen as interconnected areas of activity. Clarifying this relationship in the business practice of Bulgarian companies is an interesting task, from a scientific and applied point of view. The intensity of innovation resulting from the dynamics of the global economy also implies pressure on companies to make more and more investments in new products, new technologies, new working methods and managements, etc. At the same time, not all innovative technologies and/or products are characterized by the necessary cost-effectiveness. This requires companies to apply appropriate methods for assessing the profitability of investments in innovation, as well as methods for assessing the risk of such investments. The purpose of this article is to investigate the practice of Bulgarian companies (based on a limited range of researched but completely randomly distributed) in applying approaches and methods for assessing the effectiveness of investments in innovation. To achieve the main objective, methods such as: literary review, observation, survey, two-dimensional statistical distribution, analysis and synthesis of primary information, comparative analysis, expert evaluation, etc. are used. In conclusion, some summaries of good practices and recommendations for increasing the effectiveness of these processes in the practice of companies are given.