Performance drivers of the R&D activities in the chemical sector in Spain: a balanced scorecard approach

Abstract

We have studied the drivers of the performance of the Research and Development (R&D) activities in the chemical sector in Spain. For this purpose, we have validated a Balanced Scorecard (BSC) framework for R&D and analysed the relationships between the Resources and Internal Processes and the Commercial and Financial results of the R&D activities. The study has been undertaken using data gathered from a total of 95 companies in the chemical sector in Spain. We employ the methodology of structural equations and specifically the Partial Least Squares (PLS) technique. We have located the drivers that exert the most effect on each of the dimensions (Resources, Internal Processes, Innovation) that form the BSC for R&D and therefore ultimately affect the performance of the company as a whole (Commercial and Financial Results).