Zakharkin O. Stakeholder value-based management of innovation activity of enterprises

The conceptual framework of stakeholder value-based management of innovation activity of the company is formed, the principles and categorical apparatus of value-based management are supplemented. The directions of bilateral cooperation between the company and its stakeholders in the application of the proposed stakeholder concept are suggested. In this work innovation are considered as a factor of influence on the company's market value on the stock market. Methodological approach to assessing the impact of innovation on the expected return on stocks based on the Fama - French model and multi-structural equations is developed and tested. Research of the impact of innovation on the company's performance is provided and the correlation of these indicators is theoretically proved. Theoretical and methodological approach to modeling of the impact of innovation on the companies' effectiveness using the stochastic frontier analysis is suggested. The essence of stability is analyzed and scientific approach to assessing of its level on the basis of internal resource potential of the company and vulnerability to internal and external threats is developed. The approach for selecting the type of innovative strategy depending on the level of stability is suggested. The model of innovation management based on indicators of stability and economic value added is provided.