Industrial r&d investment: a comparative analysis of the top EU and non-EU companies based on the EU 2004 r&d Scoreboard

This paper presents the main results from the 2004 EU Industrial R&D
Investment Scoreboard, which lists the top 500 EU companies and the
top 500 non-EU companies ranked by their R&D investment. After a short
description of the definitions and objectives of the exercise, its content and
main findings are shown together with results from other analyses performed
within The European Common Directorate General, Joint Research (JRC) –
Seville, showing the impact of the degree of concentration at the company’s
level on the overall industrial R&D stance. There seems to be a correlation
between R&D intensity growth and net sales growth. Despite a competitive
total amount of R&D investment, the average overall R&D intensity of the
sampled European Union companies is much smaller than for their non-EU
counterparts. This is related to a smaller proportion of output from sectors
with high intrinsic R&D intensity, which is particularly noticeable in IT Hardware
and Software and Computer Services. Although R&D investment amounts are
comparable for the biggest firms, the share of R&D performers at the middle
and the bottom of the EU-500 Scoreboard is much smaller in the EU than in
the non-EU. The analysis indicates that national, regional and sectoral patterns
deviate considerably from the overall picture of the EU. An entire section of the
paper is dedicated to an inter-sector comparison of R&D-related indicators.
The issue of concentration of R&D investment among top companies investing
in research is investigated in more detail, in large companies, by sector of
activity and by location. It is also proved that the sample of top R&D investing

companies is statistically characterised by heteroscedasticity.

Constantin Ciupagea
Pietro Moncada-Paternò-Castello
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