THEORETICAL ASPECTS OF MANAGING AN INNOVATION HOLDING COMPANY
Modern trends towards enlarging production and integration processes taking place not only in the national but in the global economy as well lead to the formation of entrepreneurial associations whose most common form in Russia and in the world is holdings. In the context of the development of the management theory, the problematics of managing integrated corporate structures have been examined by R. Koch, A. Thompson, and A.J. Strickland, and a number of other foreign theorists and practicians. In Russian economics literature, this area has been explored by A.R. Gorbunov, A.M. Petrov, S.M. Ishchenko, and others. The fact that there are numerous modern studies in this area indicates the topicality and significance of the subject of this study. The article examines the theoretical aspects of managing an innovation holding company in terms of vertically integrated management structures. The author conducts a comparative analysis of different types of integration structures. In addition, the article explores the characteristics of assessing the current synergy effect in consequence of the integration of companies. The study reveals that the strategic management of the corporate portfolio of a holding company based on synergism helps ensure higher returns on investment when there is a combination of companies as opposed to when they are managed separately.
HOLDING, VERTICALLY INTEGRATED STRUCTURE, CORPORATE INTEGRATED STRUCTURES, SYNERGY EFFECT