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The Impact of Human and Innovation Capital on the Competitiveness of Russian Companies

Student: Natalya Postanogova

Supervisor: Mariya Molodchik

Faculty: Faculty of Economics, Management, and Business Informatics

Educational Programme: Economics (Bachelor)

Year of Graduation: 2021

Today, the fact that Russia lags far behind economically advanced countries in terms of technological development is the main danger for our country. Most Russian sectors lag behind global competitors both in quality and value of products that caused primarily by an insufficient level of investment in innovation and human resources. This paper investigates the impact of human and innovation capital on the competitiveness level of Russian companies. Based on panel data for 4 035 large Russian companies from 2016 to 2019 a fixed effects model was built. The return on assets was used as an indicator of the competitiveness of Russian companies. Human capital was measured using indicators of cost per employee and labor productivity. The share of intangible assets in total assets was used as an indicator of innovation capital. This study found a significant effect of the human and innovation capital and their combined effect on the competitiveness of Russian companies.

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