Pitfalls in Estimating the Returns to Corporate R&D Using Accounting Data
نویسندگان
چکیده
Does R&D have an impact on the economic performance of an enterprise? To most economic observers, the obvious answer is yes. However, recent reports by Booz-Allen-Hamilton (BAH 2006, 2007) conclude that the share of spending devoted to research has no relationship to firm growth, profits, and value, and offers support to the view that it is possible to compete successfully in the modern economy without investing in R&D. We disagree with these conclusions and in this paper we critique some uses of accounting data to estimate corporate R&D returns and illustrate how one should use such data to answer the R&D-performance question.
منابع مشابه
FORAY Dominique, HALL Bronwyn H., MAIRESSE Jacques Pitfalls in Estimating the Returns to Corporate R&D Using Accounting Data
Does R&D have an impact on firm growth, profits, and value? To most observers, the obvious answer is yes. However, the recent report by Booz-Allen-Hamilton (BAH 2006) seems to conclude that the share of spending devoted to research has no relationship to the economic performance of an enterprise, and offers support to the view that it is possible to compete successfully in the modern economy wi...
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