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Linking Technological, Market & Financial Indicators Of Innovation

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Listed:
  • Joe Tidd
  • Ciaran Driver
  • Peter Saunders

Abstract

This paper describes the results of a feasibility study to develop a national Innovation Scoreboard to measure and track the innovative performance of companies in the UK. It begins with a review of potential technological, market and financial indicators of innovation, and using data in the public domain, develops a trial Innovation Scoreboard based on 40 firms from five different sectors. The preliminary findings suggest that product announcements made in the specialist press may be a viable indicator of innovation at the level of the firm. Specifically, the evidence suggests that product announcements represent a useful measure of innovative output, which combined with expenditure on research and development provide a measure of research efficiency. This measure of research efficiency is shown to be associated with higher market to book values.

Suggested Citation

  • Joe Tidd & Ciaran Driver & Peter Saunders, 1996. "Linking Technological, Market & Financial Indicators Of Innovation," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 4(3), pages 155-172.
    • Handle: RePEc:taf:ecinnt:v:4:y:1996:i:3:p:155-172
    DOI: 10.1080/10438599600000006
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    References listed on IDEAS

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    1. Kleinknecht, Alfred & Reijnen, Jeroen O. N., 1993. "Towards literature-based innovation output indicators," Structural Change and Economic Dynamics, Elsevier, vol. 4(1), pages 199-207, June.
    2. Zvi Griliches, 1984. "R&D, Patents, and Productivity," NBER Books, National Bureau of Economic Research, Inc, number gril84-1, July.
    3. Devinney, Timothy M., 1993. "How well do patents measure new product activity?," Economics Letters, Elsevier, vol. 41(4), pages 447-450.
    4. P. Patel & K. Pavitt, 1987. "The Elements of British Technological Competitiveness," National Institute Economic Review, National Institute of Economic and Social Research, vol. 122(1), pages 72-83, November.
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    Cited by:

    1. Hobday, Mike & Rush, Howard & Tidd, Joe, 2000. "Innovation in complex products and system," Research Policy, Elsevier, vol. 29(7-8), pages 793-804, August.
    2. Flor, M. L. & Oltra, M. J., 2004. "Identification of innovating firms through technological innovation indicators: an application to the Spanish ceramic tile industry," Research Policy, Elsevier, vol. 33(2), pages 323-336, March.
    3. Hanna Mizgalska, 2006. "Aktywność innowacyjna małych i średnich przedsiębiorstw w Wielkopolsce w latach 2001-2004," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 5-6, pages 53-73.
    4. Souitaris, Vangelis, 2002. "Technological trajectories as moderators of firm-level determinants of innovation," Research Policy, Elsevier, vol. 31(6), pages 877-898, August.
    5. Ali Murad Syed & Zahid Riaz & Abdul Waheed, 2016. "Innovation, Firm Performance And Riskiness: Evidence From The Leading Worldwide Innovative Firms," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 20(07), pages 1-19, October.

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