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Incentive Policy in Innovation Clusters (Biotech): The Evidence from Western and Northern Europe 

Student: Liubava Tkachenko

Supervisor: Anastasia N. Stepanova

Faculty: Faculty of Economic Sciences

Educational Programme: Corporate Finance (Master)

Final Grade: 7

Year of Graduation: 2019

One of the most concerning issues in today`s organizations, especially in the innovative field, is to increase their workers' professional efficiency. The issue makes it essential to find ways to encourage employees' contribution based on their peak potential and workability. The thesis focuses on the remuneration policy in biotechnological companies in the developed countries of Western and Northern Europe and aimes for further development and improvement of the Russian incentive system. The thesis empirical study is in the case-study form and analyzes 10 biotechnology firms, founded between 1989 and 2005, from 5 countries - Germany, Switzerland, Belgium, the Netherlands and Denmark. The data obtained in the firms and the impact of various remuneration programs on company`s performance indicators (especially ROI) analysis revealed the most efficient way to be a mixed remuneration system – Performance Share Plans for top-management and Stock Option Plans or Warrants for other employees.

Full text (added May 26, 2019)

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