Wall Street Doesn't Understand Innovation  

Oleh:

Malloy, Christopher

Jenis: Article from Bulletin/Magazine - ilmiah internasional
Dalam koleksi: Harvard Business Review vol. 90 no. 12 (Dec. 2012), page 28-29.
Topik: Business Strategy; Company's Success; Innovation; Investors

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Perpustakaan Pusat (Semanggi) Nomor Panggil: HH10.46 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Even though a company’s success at innovation can be predicted by looking at its track record, investors don’t favor the stocks of firms that have proved they’re effective at R&D. Chris Malloy and his colleagues mapped 30 years of U.S. corporations’ R&D expenditures against their sales revenues, ability to generate patents, patent citations, and new product launches. They found a simple pattern: Companies that had large R&D budgets as well as a history of converting innovation into growth were likely to continue that strong performance. Yet in the short term their shares didn’t command a premium over those of companies that spent the same percentage of their sales on R&D but had a poor record of generating value from it.

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