R&D productivity: A global multi-industry comparison |
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| Authors: | Samuel B Graves Nan S Langowitz |
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| Institution: | aSamuel B. Graves is associate professor in the Carroll School of Management at Boston College in Chestnut Hill, Massachusetts USA;bNan S. Langowitz is associate professor of management at Babson College in Babson Park, Massachusetts, and holder of the Jay L. Owen Term Chair USA |
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| Abstract: | This study considers the productivity of R&D expenditures on an international and multi-industry basis. Using 1992 data reported by Business Week on 117 companies in the United States, Europe, and Japan, we examined two measures of innovative output, patents and impact-adjusted patents, in relationship to R&D spending. Our results clearly show a decreasing returns to scale of R&D expenditure. Although this pattern holds true regardless of industry or global region, the level of return and rate of decreasing returns vary by both industry and international region. |
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