Technology leaders in case of sanctions and a pandemic: analysis of firms in the «Techsuccess» rating

Technology leaders are at the focus of modern economic research. Studying the patterns of their development is especially important for Russia in the context of sanctions and political tension. The purpose of this work is econometric modeling of the development features of firms-technological leaders, participants in the «Techsuccess» rating. The analysis of the indicators of these enterprises is carried out in dynamics: in the context of sanctions and a pandemic, before and after their participation in the «Techsuccess» rating. Research period: 2016-2020. Research methods: analysis of variance, correlation analysis, regression modeling. Results. We found that firms for which accounting data are available maintain good performance after participating in the «Techsuccess» ranking but have low financial sustainability indicators. Correlation analysis revealed significant positive correlations between the local rating «Export Potential» and financial sustainability. Russian enterprises-technology leaders, which are oriented towards the export of their products, are characterized by higher financial stability. On the contrary, technology leaders oriented towards the Russian market and solving problems of import substitution have lower financial stability and they need government support in this direction. Regression modeling confirmed the conclusions of the correlation analysis about the positive impact of the export orientation of enterprises on their financial stability. It also revealed the positive impact of the Fast-Growing Companies rating and current revenue growth rates on corporate profitability. It is advisable to take these results into account when developing measures to support high-tech business

Keywords: «Techsuccess» rating, financial indicators of enterprises, dynamics, econometric analysis, high-tech industries, export, innovation, technological leadership

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