Digital Cooperation as a Promising Way to Improve the Financial Results of Enterprises

ABSTRACT

The paper argues that digital cooperation is a promising way to improve the financial results of enterprises and to develop recommendations for crisis management of enterprises in the Russian regions in 2021 to obtain the profits lost in 2020. To reflect and consider the difference between regions with different levels and rates of socio-economic development, this study is conducted on the samples of four types of regions created based on the statistics of digitalization, cooperation, and financial results of enterprises in 2020. In regions of each type, the study finds a regression dependence of the balanced financial performance of enterprises on the level of digitalization and the number of business clusters (as an indicator of the level of cooperation in entrepreneurship). Thus, the paper confirms the hypothesis that the profits lost in 2020 (business losses due to the pandemic) can be extracted in all Russian regions through the development of digital cooperation, which allows to define it as a promising way to improve the financial results of enterprises. For this purpose, the authors propose applied recommendations for regions with profound differences. © 2022, The Author(s), under exclusive license to Springer Nature Switzerland AG.