Innovative Development of Railway Corporations in Asian Region:Estimating the Impact of Environment Using Comparative Analysis ofKorean and Chinese Companies

Background:Currently, the issue of the company’s innovative development is relevant in all areas of activity. Railway transport, which has one ofthe development vectors such as an innovative component, poses for itself the task of achieving high competitiveness through activeinnovative developments and implementations. This direction is influenced by external and internal factors, which should be takeninto account while developing and implementing the company's innovative development strategy.Nowadays, there is increase in the development of global competition and in the transfer of innovations in all areas of serviceindustries, including the railway sector. In recent years, the countries of the Asian region have adopted a strategy for developing thecompetitiveness of the transport sector through innovative development and the transfer of technology. Objective:The study aims at investigating environmental factors which influence innovative development of transport company and evaluatingtheir interdependence using correlation-regression analysis. Methods:The correlation-regression analysis and comparative approach were used to develop the model.Results:Two Rail corporations from Asian region were investigated. External and internal factors influencing innovative development ofthese corporations were found; significant in explaining the factors’ interdependence was discussed. Conclusion:Different groups of factors influence innovative development of transport companies in Asia. These findings can be used asinformation for managers to develop strategic programs to improve innovative development process in Asian transport companies