Theoretical and empirical analysis of the optimal R&D investment management

Watanabe, C., Zhu, B. ORCID: https://orcid.org/0000-0002-2890-7523, & Tou, Y. (2003). Theoretical and empirical analysis of the optimal R&D investment management. The Journal of Science Policy and Research Management 16 (1) 83-101.

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Abstract

R&D investment decision making has become a crucial issue in an era of mega-competition. This work aims to construct a concept of a virtuous cycle trajectory between R&D investment, technology stock and economic growth on the basis of Pontryagin's theory of optimal processes, a practical model for identifying an optimal R&D investment level was developed. A theoretical analysis was also conducted and empirical analyses focussing on Japan's manufacturing industry over the two decades were attempted to demonstrate a useful tool for R&D investment decision making.

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