[eng] Reference standard, transaction costs and the economics of quality : a framework . In this paper, I try to explore the analytical relationships between reference standards, transaction costs and the economics of quality. The paper focuses, first on a comparative assessment of the intellectual systems allowing economists and sociologists to approach these questions ; second on the historical emergence of reference standards, third on the direct effects of this kind of standard upon the industrial performances and organization, and fourth on the indirect effect of standardization regarding the innovative capabilities of industries and countries. [fre] Cet article propose un cadre d'analyse en vue d'explorer les relations entre standard de référence, coût de transaction et économie de la qualité. Il envisage successivement, le positionnement de ce cadre d'analyse par rapport à d'autres approches de la standardisation, la question de l'émergence historique des standards de référence, celle des effets directs de ces standards sur les performances et l'organisation industrielles, celle enfin des effets indirects de la standardisation sur les capacités d'innovation des industries et des pays.

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Does R&D have an impact on firm growth, profits, and value? To most observers, the obvious answer is yes. However, the recent report by Booz-Allen-Hamilton (BAH 2006) seems to conclude that the share of spending devoted to research has no relationship to the economic performance of an enterprise, and offers support to the view that it is possible to compete successfully in the modern economy without investing in R&D. This issue is an important one because the large corporations they considered are responsible for the vast majority of private R&D spending in developed economies, and are therefore important actors in achieving the Lisbon agenda.Challenged by the results and recommendations of the BAH report, in this paper we assess some of the pitfalls to be avoided in using accounting data to estimate corporate R&D returns and illustrate a proper use of such data. We first offer a critique of important aspects of the methodology and of some of the main conclusions in the BAH report. Using similar data and a comparable approach, we then present our own estimates of the impact of R&D on the growth, profitability, and market value of public corporations, and contrast our interpretations and conclusions with that of the report. Submission to the First European Conference on Knowledge for Growth, October 8-9, 2007Keywords : New perspectives on the measurement, evalutation and impact of corporate R&D AbstractDoes R&D have an impact on firm growth, profits, and value? To most observers, the obvious answer is yes. However, the recent report by Booz-Allen-Hamilton (BAH 2006) seems to conclude that the share of spending devoted to research has no relationship to the economic performance of an enterprise, and offers support to the view that it is possible to compete successfully in the modern economy without investing in R&D. This issue is an important one because the large corporations they considered are responsible for the vast majority of private R&D spending in developed economies, and are therefore important actors in achieving the Lisbon agenda.Challenged by the results and recommendations of the BAH report, in this paper we assess some of the pitfalls to be avoided in using accounting data to estimate corporate R&D returns and illustrate a proper use of such data. We first offer a critique of important aspects of the methodology and of some of the main conclusions in the BAH report. Using similar data and a comparable approach, we then present our own estimates of the impact of R&D on the growth, profitability, and market value of public corporations, and contrast our interpretations and conclusions with that of the report.Our critique takes three parts: first, the data normally available in the financial accounts of firms is not well-suited to assessing the returns to R&D. Such expenditure is an investment in the future, but is generally treated by accountants as immediately expensable. There are also a number of issues in the interpretation of results based on gross versus net profits and in the robustnes...

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