This research looks at a variety of measures used to estimate R&D effectiveness from 2019 through 2023. This article discusses a variety of strategies for measuring R&D performance and emphasizes its diverse qualities. This study expands on previous research by investigating critical determinants for R&D performance such as innovation production, technical advancement, knowledge creation, and economic effect. Furthermore, in order to acquire a thorough grasp of R&D success, this study examines a number of quantitative and qualitative evaluation approaches. In addition, suggestions for further study are made. The evaluation is based on a thorough literature analysis that examined a broad variety of scholarly publications to discover and categories pertinent information. According to the results, evaluating R&D performance is a complicated process that requires the evaluation of various components as well as the use of a mix of quantitative and qualitative assessment methodologies. Key markers of R&D performance include patents and invention output, technical advancement, knowledge creation, and economic impacts. Organizations and governments may acquire a thorough picture of the success and efficacy of their R&D projects by combining several evaluation approaches. Overall, this study expands and summarizes previous literature research, making it a great starting point for academics interested in R&D success. Future R&D success study should concentrate on the dynamic relationship between technical innovation and organizational abilities, diving into the delicate components of producing successful outputs.
Ahn, J. M., Minshall, T., & Mortara, L. (2017). Understanding the human side of openness: The fit between open innovation modes and CEO characteristics. R&D Management, 47(5), 727-740.
Arik, M., & Ndrianasy, E. R. (2018). Federally funded R&D fuels regional economies: A panel data analysis. Global Journal of Accounting & Finance (GJAF), 2(1).
Artz, K. W., Norman, P. M., Hatfield, D. E., & Cardinal, L. B. (2010). A longitudinal study of the impact of R&D, patents, and product innovation on firm performance. Journal of Product Innovation Management, 27(5), 725-740.
Baik, B., Gunny, K. A., Jung, B., & Park, D. (2022). Income smoothing through R&D management and earnings informativeness. The Accounting Review, 97(3), 25-49.
Broekel, T. (2019). Using structural diversity to measure the complexity of technologies. PloS one, 14(5), e0216856.
Brown, J. R., Martinsson, G., & Petersen, B. C. (2017). What promotes R&D? Comparative evidence from around the world. Research Policy, 46(2), 447-462.
Caloffi, A., Mariani, M., Rossi, F., & Russo, M. (2018). A comparative evaluation of regional subsidies for collaborative and individual R&D in small and medium-sized enterprises. Research Policy, 47(8), 1437-1447.
Caloghirou, Y., Giotopoulos, I., Kontolaimou, A., Korra, E., & Tsakanikas, A. (2021). Industry-university knowledge flows and product innovation: How do knowledge stocks and crisis matter? Research Policy, 50(3), 104195.
Cannon, A., & ST. John, C. A. R. O. N. (2021). Complements or conflicts: R&D and lean innovation approaches. International Journal of Innovation Management, 25(04), 2150042.
Cerulli, G., & Potì, B. (2012). Evaluating the robustness of the effect of public subsidies on firms' R&D: an application to Italy. Journal of Applied Economics, 15(2), 287-320.
Christofi, M., Vrontis, D., Thrassou, A., & Shams, S. R. (2019). Triggering technological innovation through cross-border mergers and acquisitions: A micro-foundational perspective. Technological Forecasting and Social Change, 146, 148-166.
Coad, A. (2019). Persistent heterogeneity of R&D intensities within sectors: Evidence and policy implications. Research Policy, 48(1), 37-50.
Coluccia, D., Dabi?, M., Del Giudice, M., Fontana, S., & Solimene, S. (2020). R&D innovation indicator and its effects on the market. An empirical assessment from a financial perspective. Journal of Business Research, 119, 259-271.
Delmar, F., McKelvie, A., & Wennberg, K. (2013). Untangling the relationships among growth, profitability and survival in new firms. Technovation, 33(8-9), 276-291.
Dziallas, M., & Blind, K. (2019). Innovation indicators throughout the innovation process: An extensive literature analysis. Technovation, 80, 3-29.
Fernández-Olmos, M., & Ramírez-Alesón, M. (2017). How internal and external factors influence the dynamics of SME technology collaboration networks over time. Technovation, 64, 16-27.
Garrido-Prada, P., Lenihan, H., Doran, J., Rammer, C., & Perez-Alaniz, M. (2021). Driving the circular economy through public environmental and energy R&D: Evidence from SMEs in the European Union. Ecological Economics, 182, 106884.
Gkypali, A., Filiou, D., & Tsekouras, K. (2017). R&D collaborations: Is diversity enhancing innovation performance? Technological Forecasting and Social Change, 118, 143-152.
Goel, R. K., & Nelson, M. A. (2022). Employment effects of R&D and process innovation: Evidence from small and medium-sized firms in emerging markets. Eurasian Business Review, 12(1), 97-123.
Greco, M., Grimaldi, M., & Cricelli, L. (2020). Interorganizational collaboration strategies and innovation abandonment: The more the merrier. Industrial Marketing Management, 90, 679-692.
Grimpe, C., Sofka, W., Bhargava, M., & Chatterjee, R. (2017). R&D, marketing innovation, and new product performance: a mixed methods study. Journal of Product Innovation Management, 34(3), 360-383.
Hagedoorn, J., Lokshin, B., & Zobel, A. K. (2018). Partner type diversity in alliance portfolios: Multiple dimensions, boundary conditions and firm innovation performance. Journal of Management Studies, 55(5), 809-836.
Hanaysha, J. R., Al-Shaikh, M. E., Joghee, S., & Alzoubi, H. M. (2022). Impact of innovation capabilities on business sustainability in small and medium enterprises. FIIB Business Review, 11(1), 67-78.
He, Z., & Wintoki, M. B. (2016). The cost of innovation: R&D and high cash holdings in US firms. Journal of Corporate Finance, 41, 280-303.
Hoenen, S., Kolympiris, C., Schoenmakers, W., & Kalaitzandonakes, N. (2014). The diminishing signaling value of patents between early rounds of venture capital financing. Research Policy, 43(6), 956-989.
Hottenrott, H., & Lopes?Bento, C. (2016). R&D partnerships and innovation performance: Can there be too much of a good thing. Journal of Product Innovation Management, 33(6), 773-794.
Huang, W., & Sattar, M. (2021). Corporate finance policies, subsidies, and R&D: Evidence from China. International Journal of Finance & Economics, 26(3), 3875-3891.
Jaisinghani, D. (2016). Impact of R&D on profitability in the pharma sector: An empirical study from India. Journal of Asia Business Studies, 10(2), 194-210.
Jun, S. P., Lee, J. S., & Lee, J. (2020). Method of improving the performance of public-private innovation networks by linking heterogeneous DBs: Prediction using ensemble and PPDM models. Technological Forecasting and Social Change, 161, 120258.
Kafouros, M., Love, J. H., Ganotakis, P., & Konara, P. (2020). Experience in R&D collaborations, innovative performance, and the moderating effect of different dimensions of absorptive capacity. Technological Forecasting and Social Change, 150, 119757.
Kreß, A., Eierle, B., & Tsalavoutas, I. (2019). Development costs capitalization and debt financing. Journal of Business Finance & Accounting, 46(5-6), 636-685.
Larsen, A., & Lindquist, P. (2016). A performance measurement framework for R&D activities: Increasing transparency of R&D value contribution.
Lee, Y. J., Shin, K., & Kim, E. (2019). The influence of a firm’s capability and dyadic relationship of the knowledge base on ambidextrous innovation in biopharmaceutical M&As. Sustainability, 11(18), 4920.
Li, Q., Maggitti, P. G., Smith, K. G., Tesluk, P. E., & Katila, R. (2013). Top management attention to innovation: The role of search selection and intensity in new product introductions. Academy of Management Journal, 56(3), 893-916.
Liu, Y., & Polkinghorne, M. (2023). Unraveling Interconnections: Analyzing the Impact of a Founder’s Characteristics on Business Growth Strategy. Businesses, 3(3), 475-488.
Makeeva, E., Murashkina, I., & Mikhaleva, I. (2019). The impact of R&D tax incentive programs on the performance of innovative companies. Foresight, 21(5), 545-562.
Markovic, S., Jovanovic, M., Bagherzadeh, M., Sancha, C., Sarafinovska, M., & Qiu, Y. (2020). Priorities when selecting business partners for service innovation: The contingency role of product innovation. Industrial Marketing Management, 88, 378-388.
Mazzucchelli, A., Chierici, R., Tortora, D., & Fontana, S. (2021). Innovation capability in geographically dispersed R&D teams: The role of social capital and IT support. Journal of Business Research, 128, 742-751.
Mitchell, V. W., Harvey, W. S., & Wood, G. (2022). Where does all the ‘know how’go? The role of tacit knowledge in research impact. Higher Education Research & Development, 41(5), 1664-1678.
Moncada-Paternò-Castello, P. (2022). Top R&D investors, structural change, and the R&D growth performance of young and old firms. Eurasian Business Review, 12(1), 1-33.
Monsef, S. H. A., & Mohamed, O. Y. (2022). Co-Innovation supports the Research and Development (R&D) in Small & Medium Enterprises (SMEs). Journal of Art, Design and Music, 1(2), 82-97.
O'Connell, V., AbuGhazaleh, N., & Kintou, A. (2018). The impact of R&D programme success on the decision to capitalise development expenditures in European firms. Technology Analysis & Strategic Management, 30(1), 15-30.
Pegkas, P., Staikouras, C., & Tsamadias, C. (2019). Does research and development expenditure impact innovation? Evidence from the European Union countries. Journal of Policy Modeling, 41(5), 1005-1025.
Rahko, J. (2014). Market value of R&D, patents, and organizational capital: Finnish evidence. Economics of Innovation and New Technology, 23(4), 353-377.
Sarpong, O., & Teirlinck, P. (2018). The influence of functional and geographical diversity in collaboration on product innovation performance in SMEs. The Journal of Technology Transfer, 43, 1667-1695.
Sedita, S. R., & Grandinetti, R. (2023). Beyond R&D: A configurational approach to open innovation in the Veneto region. European Planning Studies, 31(5), 1050-1069.
Sengoku, S. (2019). Consortium-based open innovation: Exploring a unique and optimal model for regional biotechnology industry. Innovation Beyond Technology: Science for Society and Interdisciplinary Approaches, 141-171.
Song, M., Ai, H., & Li, X. (2015). Political connections, financing constraints, and the optimization of innovation efficiency among China's private enterprises. Technological Forecasting and Social Change, 92, 290-299.
Sun, X., Yu, R., Wang, Y., & Colombage, S. R. (2020). Do government subsidies stimulate firms’ R&D efforts? Empirical evidence from China. Asian Journal of Technology Innovation, 28(2), 163-180.
Sunder, J., Sunder, S. V., & Zhang, J. (2017). Pilot CEOs and corporate innovation. Journal of Financial Economics, 123(1), 209-224.
Ugur, M., Trushin, E., & Solomon, E. (2016). Inverted-U relationship between R&D intensity and survival: Evidence on scale and complementarity effects in UK data. Research Policy, 45(7), 1474-1492.
Vithessonthi, C., & Racela, O. C. (2016). Short-and long-run effects of internationalization and R&D intensity on firm performance. Journal of Multinational Financial Management, 34, 28-45.
Webb, T., Beldona, S., Schwartz, Z., & Bianco, S. (2021). Growing the pie: an examination of coopetition benefits in the US lodging industry. International Journal of Contemporary Hospitality Management, 33(12), 4355-4372.
Xie, L., Zhou, J., Zong, Q., & Lu, Q. (2020). Gender diversity in R&D teams and innovation efficiency: Role of the innovation context. Research Policy, 49(1), 103885.
Xin, D., Ahmad, M., Lei, H., & Khattak, S. I. (2021). Do innovation in environmental-related technologies asymmetrically affect carbon dioxide emissions in the United States? Technology in Society, 67, 101761.
Yoo, H. S., Lee, C., & Jun, S. P. (2018). The characteristics of SMEs preferring cooperative research and development support from the government: The case of Korea. Sustainability, 10(9), 3048.
Yu, X., Lan, Y., & Zhao, R. (2021). Strategic green technology innovation in a two-stage alliance: Vertical collaboration or co-development. Omega, 98, 102116.
Zacharias, N. A., Daldere, D., & Winter, C. G. (2020). Variety is the spice of life: How much partner alignment is preferable in open innovation activities to enhance firms’ adaptiveness and innovation success. Journal of Business Research, 117, 290-301.
Zhang, W., Zhao, S., Wan, X., & Yao, Y. (2021). Study on the effect of digital economy on high-quality economic development in China. PloS One, 16(9), e0257365.
