Klaipėdos universitetas

Innovation is the basis for competitiveness. At the same time, the primary objective of the manager is stockholder wealth maximization,therefore it is essential to study the relationship between innovation and value. The aim of the study is to evaluate the impact ofinnovation on company value. The research covered Baltic listed companies for the period of 2005−2011. The study finds thatinnovative companies have a higher value and they are bigger. Within innovative companies it was observed that higher companyvalue is achieved if their ratio of intangible assets exceeds 1 %. Using correlation and multiple regression analyses it was found thatinnovation is a significant determinant of company value, whereas size is a weaker factor and growth is the least significant factor.The authors of the paper recommend for companies to invest in innovation process, since it increases company value, especially ifthe ratio of intangible assets exceeds 1 %.

The article presents the concept of the cross-border method that was developed in the framework of the Erasmus+ programme project. The aim of this method is to provide students on PhD/Mg programmes with theoretical knowledge and practical competencies on how to properly develop and conduct research on social and health issues of the elderly in care institutions and in the family environment by using the cross-border method through collaboration and the transfer of innovation. This method was constructed as an attempt to understand the challenges of an ageing society in the modern world, and to be able to assess them in research thereof from both intercultural and comparative perspectives. In order to adopt innovations and to transfer experience in the context of addressing the problems of an ageing society, there is a potential to contribute to the stability of social protection and the accessibility of social services for the elderly. The article presents the concept of the method as one of the results of the project, and as a part of the long-term scientific contributions to revealing the importance of international cooperation and innovation in meeting the challenges of an ageing society. A properly chosen method and well-conducted studies show the essence of the phenomenon of an ageing society and its patterns. The methods determine the quality and reliability of the knowledge of the research subject, and open up opportunities for developing political, learning and care strategies for the social protection of an ageing society in the context of demographic change.

Innovation development process in companies is described by several challenges. One major problem is that there is much confusion about what it takes to develop innovations and what factors affect the innovation development process. The paper focuses on innovation process’ affecting factors in Latvian market. The paper’s goal is to identify main factors that affect the innovation process the Latvian companies. After surveying 128 companies, authors concludes that many factors affects innovation process and none of them should be ignored. Following factors affect innovation process the most and therefore should be analysed more deeply: 1) The company’s own resources; 2) High employees knowledge, competencies, skills and experience; 3) Investors’ attraction opportunities. Research also emphasises importance of company’s human resource, therefore authors suggest companies to look at their employees from different paradigm and approach them as the most valuable company’s asset.