Evaluation method for efficiency of financial and innovative activities in commercial organizations based on stochastic modelling

Abstract

The research revealed financial instability at the internal level of commercial organization development, which allowed confirming that quantitative assessment in the system of their financial management is preferable. Nonconventional method was developed to provide for assessment of the efficiency of financial and innovative performance in commercial organizations in the system of their financial management; the method provides for determination of the modified projected value of financial results and considers risk profile of commercial organizations, as well as of the anticipated efficiency of financial and innovative development. The method is grounded in both: Monte Carlo approach and special author’s software product. Its application is notable by a universal character; it allows the following: expanding the list of the evaluation financial and innovative indicators that are risk inclusive; create a tool kit to provide a multiple set of scenarios in projected financial and innovative performance development; thus, developing risk-oriented vector for the system of financial management. Approbation of the method was carried out in systems of financial management in the following corporation: SevKavNIPIgaz PJSC, Anda Technology LLC, “C-Soft Rostov-on-Don” NPJSC