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US companies are investing less in science

Date:
November 27, 2017
Source:
Wiley
Summary:
A new article reveals that large corporations are investing less in science. From 1980 to 2006, publications by company scientists have declined in a range of industries.  The result holds across a range of industries.
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A new article reveals that large corporations are investing less in science. From 1980 to 2006, publications by company scientists have declined in a range of industries. The result holds across a range of industries.

Investigators also found that the value attributed to scientific research has dropped, whereas the value attributed to technical knowledge (as measured by patents) has remained stable. Companies appear to be focusing more on developing existing knowledge and commercializing it, rather than on creating new knowledge through basic research.

"This decline has taken place even though scientific research continues to be relevant, because the patents filed by these firms continue to cite the scientific literature at the same rate as before. This implies that the societal value of research has not declined," said Ashish Arora, co-author of the Strategic Management Journal article. "We therefore need to investigate why the private value to corporations on engaging in research has declined. It also suggests that public support of research may be more valuable than ever."


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Materials provided by Wiley. Note: Content may be edited for style and length.


Journal Reference:

  1. Ashish Arora, Sharon Belenzon, Andrea Patacconi. The decline of science in corporate R&D. Strategic Management Journal, 2017; DOI: 10.1002/smj.2693

Cite This Page:

Wiley. "US companies are investing less in science." ScienceDaily. ScienceDaily, 27 November 2017. <www.sciencedaily.com/releases/2017/11/171127124929.htm>.
Wiley. (2017, November 27). US companies are investing less in science. ScienceDaily. Retrieved February 29, 2024 from www.sciencedaily.com/releases/2017/11/171127124929.htm
Wiley. "US companies are investing less in science." ScienceDaily. www.sciencedaily.com/releases/2017/11/171127124929.htm (accessed February 29, 2024).

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