The Effect of Innovativeness on the Financial Success of the Company

Student: Lopato Evgeniya

Educational Programme: Applied Economics (Master)

Year of Graduation: 2018

In this paper, the impact of innovation on the financial success of the organization is analyzed. As a proxy for the innovativeness of banks are: a dummy that is responsible for the production of new products of the Bank such as new wildy and loans; dummy responsible for new technological services of the Bank; dummy responsible for the formation of new processes within the Bank. Return on assets and return on equity act as indicators of the financial success of the organization. The paper notes a positive relationship between innovation and financial success, provided that innovation is understood as the release of new products and the creation of new processes in the organization. The first part of the work presents an overview of foreign and domestic literature. The second part presents an analysis of the financial performance of Russian banks and data on their introduction of new/improved products or new processes within the organization.

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