Developing technology value chains in the form of vertical integration

The author presents theoretical and methodological aspects of vertical integration, reveals current foreign and domestic approaches to the interpretation of this economic category, suggests his definition of the category, and substantiates factors of integration processes’ efficiency. The article characterizes different kinds of integration processes, reveals benefits and potential risks of such consolidation, and performs critical analysis of existing indicators for the vertical integration’s level assessment in business units and the economy as a whole. Using S.S. Gubanov’s methodological tools the author conducts the activity analysis of major foreign (Royal Dutch Shell, Sinopec, Daimler AG, BASF SocietasEuropaea) and Russian (JSC “FosAgro”, JSC “LUKOIL”, ABH “Miratorg”, JSC “KAMAZ”, JSC “Arkhangelsk PPM”) vertically integrated structures, substantiates the significant role of such enterprises in the economies of developed countries. The article proves that at present large vertically integrated structures are those players that make a significant contribution to the development of added value (GDP), provide the market with the competitive product of high technological conversion and act as growth “locomotives” in economies. Whereas, presented in the article facts highlight that after the collapse of the Soviet Union main technological chains in the Russian economy have been destroyed and now its basis is formed by a large number of disintegrated economic entities that within a single enterprise output products of a few process stages only. The volume of high value-added high-tech Russian products is limited, and they are uncompetitive in world markets compared with the products of the largest TNCs. Therefore, the solution of this problem is an extremely urgent task for federal and regional authorities, since only in this case it will be possible to conduct a real technological upgrading of domestic industries, carry out it neo-industrialization based on innovations. The article defines priority guidelines, suggests a complex of direct and indirect management tools for the formation and development of vertically integrated structures in Russian economy.