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A bit of basic, a bit of applied? R&D strategies and firm performance

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  • Alex Coad

    (Waseda University)

  • Agustí Segarra-Blasco

    (Universitat Rovira I Virgili)

  • Mercedes Teruel

    (Universitat Rovira I Virgili)

Abstract

Most studies analysing the relationship between R&D and firm growth focus on total R&D investment. This paper aims to analyse separately each component of R&D investment (basic research, applied research and technological development) and evaluate how these types of R&D investment are related to firm growth. Using a sample of 3972 Spanish manufacturing firms during 2004–2015, our empirical results are the following. First, firms have heterogeneous R&D strategies. The common wisdom that young firms invest in basic research, while old firms invest in applied research, is not supported in our data. Second, we investigate the characteristics and dynamics of firms with different R&D strategies. We observe complementarities between applied research and technological development due to their positive associations with firm growth. Finally, our results show that there is a tendency for firms to transition from basic research to applied research.

Suggested Citation

  • Alex Coad & Agustí Segarra-Blasco & Mercedes Teruel, 2021. "A bit of basic, a bit of applied? R&D strategies and firm performance," The Journal of Technology Transfer, Springer, vol. 46(6), pages 1758-1783, December.
    • Handle: RePEc:kap:jtecht:v:46:y:2021:i:6:d:10.1007_s10961-020-09826-1
    DOI: 10.1007/s10961-020-09826-1
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    9. Fengjun Xiao & Jiaxin Wang & Jie Li & Hongwu Wang & Weihua Zhu & Hekun Chen, 2023. "For Future Investment, Empirical Study on Enterprise Participation in Basic Research in the Process of Digital Transformation," SAGE Open, , vol. 13(2), pages 21582440231, May.
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