Innovation and Performance: Benchmarking Australian Firms
This paper empirically analyses the link between innovation and performance using a sample of large Australian firms, with a specific aim of developing benchmarking tools. Innovation is measured by firms’ investment in R&D and applications for patents, trademarks and designs. An innovation index is constructed which incorporates a firm’s innovative activities into a single figure after accounting for firm size. The index provides a ranking of the most innovative firms in Australia. Firms which have a higher (and lower) than expected performance outcome from their innovative activities are also identified.
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