Research and development investment and firm performance: a developing country perspective
by Hamza Akorede
International Journal of Technological Learning, Innovation and Development (IJTLID), Vol. 13, No. 4, 2021

Abstract: Research and development is a vital source of knowledge generation for innovative companies. Such companies can exploit this knowledge to create new products and services to achieve superior performance. However, R&D requires a significant amount of investment; moreover, it is an uncertain investment. This paper aims to examine the relationship between investment in R&D and firm performance using a fixed-effect method. The findings show a significant positive relationship. In addition, by using a one-year lag of R&D, the results show an insignificant relationship. These findings suggest that the selected companies have benefited from their investment in R&D but are inadequately investing in this activity. The paper further discusses the implication of the findings for managers and policymakers.

Online publication date: Mon, 14-Feb-2022

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