Irina Verkhovod,

Faculty of Informatics, Mathematics and Economics,

Department of Economy,

Bohdan Khmelnitsky State Pedagogical University of Melitopol,

Melitopol, Ukraine,

Analysis of dependence

in Ukrainian enterprises’ economic indicators from measure of their innovation activism

E-mail: ekonom@mdpu.org.ua

Vladimir Petrenko,

Faculty of Informatics, Mathematics and Economics,

Department of Economy,

Bohdan Khmelnitsky State Pedagogical University of Melitopol,

Melitopol, Ukraine,

E-mail: petrenko_vl@ukr.net

ABSTRACT. The paper presents the results of an empirical analysis of differences between the economic activity indicators of enterprises with unequal innovative activity. On the basis ofa sample survey ofUkrainianenterprises weattempted toverifythe theoreticalthesis aboutthe relativelyhigher profitabilityof themoreinnovative companies. Revealedthat the averageof profitabilityand return on investmentfor a group ofthe mostinnovative companiesare lower than for firms withlessinnovation activity. We have proposedthe thesis of thelaws of innovative activity reductionintheUkrainianeconomy, as long as the main factor of business profitability is not innovation activity, but other reasons.

Received: April, 2014

1st Revision: July, 2014

Accepted: September, 2014

DOI:10.14254/2071-789X.2014/7-3/6

JEL Classification:D22

Keywords: innovation, differentiation of profitability, human capital, incentives to invest, distribution of the benefits from innovation.