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Selyutina L.

Definitional Characteristics and Development Factors Classification in Innovation and Investment Processes in Construction

Keywords: construction enterprises, innovation activity, factors, innovation and investment processes

The article deals with the problem of increasing innovation and investment activity of construction enterprises. In modern conditions of implementing the program of construction complex reforming in the structure of the national economy, further development of management system in the construction sector is based on building a scientifically based long-term innovation and investment strategy for the development of construction enterprises focused on adaptation to real business conditions. Therefore, it is relevant to study the influence of objectively existing system-forming factors, etiological causes and external conditions on the state of construction enterprises. The author critically evaluates approaches to studying the conditions affecting the level of innovative development. Analyzing the factors that have an impact on the development of enterprises’ innovative activity, the author points out the necessity of studying this problem in unity with the investment aspect of the issue under study. Based on identified key characteristics of innovation and investment activity, the author defines more exactly the conceptual apparatus of the problematics under study. At the same time, the author specificates the concept of an innovation-investment process, which is focused on making decisions aimed at achieving the set goal – obtaining an economic or other effect, accompanied by attracting significant amounts of capital resources and proceeding under conditions of uncertainty and risk. In order to clarify the elements of innovation and investment processes, the classification of factors influencing their development within the Russian enterprises of the construction complex is proposed. It is shown that rational consideration of specific factors in innovation and investment activity in construction makes it possible to structure the problems as well as influences the analysis of situations and the choice of the ways to strengthen competitive advantages in enterprises of the investment and construction complex, which function in a dynamic and extremely unstable economic environment.


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About authors

Selyutina Larisa
doctor of economics, economics and construction management department professor, Emperor Alexander I Petersburg State University of Railways, Russia, St. Petersburg (; )

Article link

Selyutina L. Definitional Characteristics and Development Factors Classification in Innovation and Investment Processes in Construction [Electronic resource] // Oeconomia et Jus. – 2019. – №2. P. 17-27. – URL: