EVALUATION OF INVESTMENTS AND INNOVATIONS EFFECTIVENESS IN LITHUANIA INDUSTRY AND SERVICES’ SECTOR COMPANIES

The paper analyses dynamics of Lithuania’s industry and services sector companies investment activities, changes in innovations  activeness for the period of 2006-2012. The research examines investments’ and innovations’ impact on  companies labour productivity and net profitability, emphasizing high-tech industry companies and high-tech knowledge intensive services companies. The research findings identified sensitivity of high-tech industry companies and high-tech knowledge intensive services companies investments to macroeconomic changes. However it was noticed that global financial crisis had no significant negative impact on innovation adoption activeness. Direct target industrial companies’ investment and growing innovativeness influenced increase in productiveness for almost 44 %. Following result in 2014 was almost 2 times higher than average result for industrial company in a country. High - tech knowledge intensive services companies reached even 2 - 3 times higher result for productivity, compared to the average in the sector, however companies’ investments and innovation adoption projects in this sector were not significantly influencing labour productivity growth. High – tech industry companies’ and high-tech knowledge intensive services companies’ net profitability was significantly higher than average sector results. Taking overall facts in to summarizing assumptions it can be stated that Lithuania industry oriented companies’, especially in high-tech sector, investment and innovative activities are more effective than in service oriented companies, what leads to more rapid competitive advantage creation. DOI: https://doi.org/10.15544/ssaf.2014.1