INNOVATION-INVESTMENT INITIATIVE UNDER BEHAVIORAL THEORY

Abstract

The research is devoted to the substantiation of conceptual approaches to the activation of the innovation-investment initiative of economic entities in the context of behavioristic theory on the basis of a combination of leverages of motivation to innovation activity by society and individual economic entities, as well as stimulation of their behavior in order to create new microeconomic systems that are stable in their development, the center of which is the individual entrepreneurial innovation initiative of an economic entity. The research is based on a combination of the concept of the behavioristic and institutional economic theory, as well as the essence of management theory in order to generalize existed approaches to the regulation of innovation processes in society. At the same time, attention is focused on finding and substantiating the mechanisms of activating the emergence of innovation and investment initiative through avoiding possible conflicts of a certain type, degree and power of influence. According to the results of the study, it is proved that, depending on the intensity of the innovation-investment initiative of an economic entity, there is a certain probability of an entire set of conflicts at different levels of social life. Unlike existing approaches, the process of formation of an innovation-investment initiative is considered as dualistic one in the aspect of behavioral and institutional conflicts. In particular, any conflict associated with the innovation-investment initiative is considered as a motivational stimulus for further intensification of the implementation of the innovation initiative and the inhibitory mechanism for the implementation of innovation, which generates other conflicts and new innovation-investment initiatives with the corresponding investment providing as a response to previous conflicts in the creation and implementation of innovation. The practical use of this study is in the follow: the proposed approach allows to consider behavioral and institutional conflicts not as obstacles, but as opportunities for the intensification of innovation and investment activities of economic actors, and, accordingly, to create more effective mechanisms for stimulating such activities.