On the systemic risk and optimality in non-homogenous innovation clusters

Abstract

Purpose – to analyse the concept of systemic risk of innovation cluster and show its impact on the optimality of cluster performance as well as to cluster structure. Research methodology – general overview of research papers and documents presenting concepts and methodologies of evaluation of systemic risk and performance of networked structures as interbank markets and business clusters with regard to asymmetric information, applied research. Findings – determination of systemic risk in a networked structure that appears together with synergistic effect as a result of collaboration in a networked structure. The clique-based structure appears to be more favourable for innovation cluster performance due to optimal sharing of information and systemic risk. The interpretation of the model of evaluation of systemic risk can be at least twofold: core-periphery, business entities-R&D institutions, etc. Research limitations – lack of empirical data that cannot be used to implement empirical research on a problem of systemic risk and its modelling. Practical implications – the conceptual model of evaluation of systemic risk should be useful for understanding and further treatment of measuring risk in a case of innovation management. Originality/Value – in this paper, the model of evaluation of systemic risk in innovation cluster and its interpretations are provided. The systemic risk is treated as a generalized risk impacting directly or non-directly the performance of an innovation cluster.