Industry performance and investment patterns in capital equipment and research and development for 42 industries were examined. Superior performance was significantly associated with high levels of R&D investment in half the industries, but was unrelated to capital investment in these industries over the 20-year period studied. Implications of these findings for the competitiveness of American industry are discussed. © 1994.
Waddock, S. A., & Graves, S. B. (1994). Industry performance and investment in R&D and capital goods. Journal of High Technology Management Research, 5(1), 1–17. https://doi.org/10.1016/1047-8310(94)90011-6