Cherepovets State University (Cherepovets, Russia)

A. V. Sushinskaya, Postgraduate Student, avsushinskaia@chsu.ru
V. S. Vasiltsov, Dr. Econ., Prof., Associate Prof., Dept. of Management
D. V. Zhukov, Associate Prof., Dept. of Management

Saint Petersburg State University of Economics (Saint Petersburg, Russia)

A. V. Kharlamov, Dr. Econ., Prof., Head of the Dept. of General Economic Theory and History of Economic Thought

In the context of digital transformation, innovative potential becomes a key factor in ensuring sustainable development and enhancing the competitiveness of metallurgical corporations. This article examines the theoretical and methodological issues of assessing the effectiveness of innovative potential realization, taking into account the specific features of digitalization in the Russian metallurgical industry. An analysis of the dynamics of innovative activity in the economy as a whole and in the metallurgical sector over the period 2020–2024 is conducted, revealing sectoral imbalances in innovative potential and systemic constraints on its implementation. It is shown that traditional methods for assessing innovative potential have limited applicability under digitalization conditions, as they do not sufficiently account for intangible assets, time lags in innovation returns, the dynamic nature of innovation processes, and a number of other relevant factors. The paper proposes a combined methodology that includes the financial realization index of innovative potential with min–max normalization and weighted indicators, as well as the innovative leverage indicator, which is defined as the ratio of the increase in economic effect to the increase in R&D investments. The empirical testing was carried out using data from Severstal PJSC for the period 2020–2024. The results obtained indicate the cyclical nature of the implementation of innovative potential and the existence of a stable relationship between innovative investments and the financial and economic performance of corporations. The proposed toolkit can be used in the strategic management of innovative activities in metallurgical corporations and in the development of digital transformation programs for the industry.

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