Optimization of innovation costs for financial crisis-management of Russian organizations

The study is devoted to rethinking the role of financial support for innovation in the new conditions of the Russian economy that arose in connection with the onset of the sanctions crisis in 2022. The subject of the study is the financial aspects of the innovation activities of Russian organizations in the context of economic crises. The purpose of the study is to determine the prospects for rationalizing financial management of innovations to increase the crisis resilience of business entities in Russia against the backdrop of current sanctions. Based on the experience of the pandemic crisis, in the fight against which innovations largely helped, a hypothesis is put forward that the sanctions resistance of Russian organizations is achieved by financing innovations. Based on Rosstat statistics for 82 regions of Russia, the horizontal analysis method is used to study the trends in innovation financing by Russian organizations in 2019-2022. The regression analysis method is used to conduct a factor analysis of the financial position of Russian organizations in 2022 and a scenario analysis of this situation in 2025. A trend of meager growth in the volume of innovation financing has been identified. It has been substantiated that due to underfinancing of innovations in the context of the sanctions crisis, the effect in the field of financial crisis management is much less noticeable than in the context of the pandemic crisis. A model has been compiled that reveals the cause-and-effect relationships of innovation financing by Russian organizations in 2022 and proves that their sanctions resistance depends on it. Scenarios for improving the financial position of Russian organizations depending on innovation financing in 2025 have been proposed. A final conclusion has been made that the need for financial support for innovations in the context of the sanctions crisis (2022) is much higher than in the context of the pandemic crisis (2020), therefore, a forced increase in innovation costs is required. The proposed recommendations will allow Russian organizations to optimize innovation costs and, thanks to this, more fully realize their potential for sanctions resistance and financial crisis management.