This paper attempts to determine the impact of research and development (R&D) expenditure on the financial sustainability of the IT industry as represented by the IT companies listed on the S&P 500 index. The impact of R&D expenditure on the intermediate variables of marketing performance, gross margin and technological performance is first ascertained. Further, the impact of each of these intermediate variables on financial sustainability, i.e. the return on assets (ROA), is determined. The empirical result shows that financial sustainability is most strongly affected by gross margins, which in turn are strongly impacted on by R&D (Note 1) intensity. R&D expenditure has a positive impact on sales revenues but a negative impact on technological performance. However, technological performance has a positive impact on financial sustainability. The non-availability of the decomposition of R&D expenditure in the annual reports of these companies poses a limitation to our research. Further, the impact of the time lag between the point at which R&D expenditure is incurred and the point at which it starts to contribute to financial sustainability varies from firm to firm, thereby making it difficult to ascertain the impact of R&D on financial sustainability. However, the results from our study pinpoint a very significant relationship between R&D intensity and gross margins. This also forms the backbone of the pricing strategy formulated by IT companies. Further, there is a very significant relationship between gross margins and financial sustainability, which is measured by ROA (Note 2).

Design and evolution of explosives monitoring and detection platforms to address the challenges of trace level chemical identification have led investigations into the use of intricately designed microfluidic devices. Microfluidic devices are unique tools that possess distinct characteristics that, when designed properly and configured with optical and fluidic components, can produce detection platforms with unmatched performance levels. Herein, we report the design, fabrication and integration of a bifurcated high aspect ratio microfluidic device containing 128 microchannels (40 mm × 40 μm × 250 μm; L × W × H) for explosives detection at trace levels. Aspect ratios measuring >6:1 support improved receptor-target molecule interactions, higher throughput and extremely low limits of detection (LOD). In addition to superior assay sensitivity, the bifurcated microfluidic device provides greater durability and versatility for substrate modification. Using the explosive 2,4,6-trinitrotoluene (TNT) as the model compound in a fluorescence-based displacement immunoassay, we report LODs for TNT at 10 parts-per-trillion (pptr) using a neutravidin-coated biotinylated anti-TNT microfluidic device. Solution to wall interactions were also simulated in COMSOL Multiphysics to understand fluid flow characteristics. Reynolds numbers were calculated to be 0.27–2.45 with a maximum pressure of 1.2 × 10−2 psi.

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