Shestakov D. Financial instruments for managing innovation and investment projects

The essence of financial instruments of management of innovation-investment projects in the process of financial and economic regulation is revealed, based on the integration and adaptation of methods, instruments and levers used by the respective financial institutions to the dynamic conditions of socio-economic development of the country, which will provide an increase in the impact of financial policy impact on it, formation of investment attractiveness of economy and creation of appropriate conditions for enhancing its competitiveness social, economic and institutional components of the financial system development. Methodological bases of estimation of investment attractiveness of projects with different degree of innovativeness are improved. Unlike the available ones, they allow to determine the possibilities of creation of innovation through step-by-step implementation and realization of innovation-investment projects by taking into account managerial flexibility, optimization of the structure of capital values and optimization of the structure of capital values. multipliers and reverse induction; a mechanism for making strategic decisions on investing capital in a potentially attractive investment and investment project, taking into account the risks of managing investment resources by improving approaches to project evaluation, minimizing the spread of projected profitability of the project and modeling investment flows; provisions for assessing managerial flexibility, its impact on investment, and the ability to determine their fair value by integrating the hypothesis testing method and the multiplier method into the process. There has been further development of generalization and systematization of the experience of using financial instruments for managing innovative investment projects in countries with advanced and transformational economies, in particular in terms of stimulating innovation activity; approaches to financial evaluation of innovation-investment projects, taking into account the induction method and the method of real options for making strategic decisions on investing funds in the development of an innovative product, which, unlike the available ones, are based on the estimation of uncertainty and risks inherent in the process of innovation creation; Institutional principles of financial instruments for managing innovation-investment projects, taking into account the dynamics of socio-economic development of the country under the influence of globalization processes.