Multiple Outcomes from Product R&D: Profitability Under Different Strategic Orientations
研究了差异化与成本领先两种战略下产品研发投入的三种结果（会计、颠覆性、投资结果）及其对投资回报率的影响，发现成本领先战略的颠覆性和投资结果更强，而差异化战略的投资结果更持久且研发更稳定。
This study examines the outcomes of business-level product research and development intensity and their impact on return on investment under two business strategies: differentiation and cost leadership. Three different types of outcomes from product R&D spending are proposed: accounting, disruptive, and investment outcomes. These are described and are found to differ by strategy. In a cost leadership strategy, stronger disruptive and investment outcomes were found than in a differentiation strategy. The differentiation strategy, by comparison, had longer investment outcomes and greater stability of product R&D. Nevertheless, the investment outcomes were ephemeral for both strategies.