New role and functions of hyper competitive global innovation companies in the modern economy

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The article introduces a new concept of “global innovation hyper competitive companys” (GIGC), analyzes their characteristics and functions in the modern economy; defines the essence of hyper competition as a new kind of competition arising between GIGC on global, national, regional and local markets; introduces a new definition of “dominant innovation” and the related “multifunction innovation”; shows an increasing role of GIGC in today’s global economy: these companies provide the innovation scientific and technological development, they act as locomotives of the world economy, are the bases of the economies of most developed countries of the world; receive a global information rent and hyper competitive profit.

About the authors

S A Dyatlov

St. Petersburg State University of economics


T A Selishcheva

St. Petersburg State University of economics



Copyright (c) 2016 Economics

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