Intensidad en I+D y desempeño empresarial en las PYMESun enfoque multidimensional

Abstract

The aim of this paper is to analyze the performance of American small firms that develop R&D activities in the period 1999-2003, in order to determine whether differences exist according to their R&D intensity. This study was conducted using Multiple Factor Analysis (MFA) gathering a multidimensional perspective of firm performance, while including possible variations through time. The result is a consensus map that shows performance differences that might be related to R&D intensity. In this respect, differences were found mainly in cash flow from operations and in personnel and R&D productivity. The results showed negative differences in firms classified as R&D intensive firms supporting the idea that the return of R&D activities has a possible �turning point�. The results are valid for further studies seeking a formulation of relationship between R&D and performance as well as the spillover effects.