An empirical investigation of the associations among innovativeness, quality of products/services, and return on investment of Fortune 1000 companies.

摘要

Despite the importance of innovativeness, its effects have not received much research attention. The purpose of this study was to address this deficiency by investigating the relationships among innovativeness, quality of products/services, and return on investment (ROI), while controlling for research and development (R&D) spending, firm size, economic sector, and industry stage. A second goal was to rank seven economic sectors and five industry stages on degree of innovativeness, quality of products/services, and return on investment.;Data were obtained from four sources: (1) data on innovativeness and quality of products/services came from two constructs used in Fortune magazine's corporate reputation survey; (2) data on R&D spending, firm size, and return on investment were obtained from COMPUSTAT PC Plus; (3) seven economic sectors were adapted from the North American Industry Classification System (NAICS); and (4) 46 industries were categorized into five industry stages, based on a content analysis of Standard & Poor's Industry Survey and U.S. Industry Profiles.;A comparative multilevel learning process design was developed. Multiple regression, logistic regression, and loglinear modeling methods were used for statistical analysis.;In general, an indirect effect of innovativeness on return on investment via quality of products/services was found. The companies having high innovativeness were distinguished from those having low innovativeness by the amount of money spent on R&D, by the degree of quality of products/services, by the size of the firm, and by industry stage, but not by the degree of return on investment. Corporate innovativeness does not necessarily bring positive return on investment unless it is accompanied by high quality and large R&D investment.;Economic sector was strongly related to quality of products/services and return on investment, but not directly related to innovativeness. In contrast, industry stage was strongly related to innovativeness and return on investment, but not directly related to quality of products/services.;These results--the first to simultaneously consider innovativeness, quality of products/services, return on investment, R&D spending, firm size, economic sector, and industry stage--constitute the most comprehensive evidence yet reported on the associations among innovativeness, quality of products/services, return on investment.