This article empirically analyses the link between innovation and performance using a sample of large Australian firms, with a specific aim of developing benchmarking tools. Innovation is measured by firms' investment in R&D and applications for patents, trademarks and designs. An innovation...

Purpose – The aim of the paper is to provide a framework for benchmarking firm performance (profitability) using panel data. Further, to illustrate how the estimation results can be used for simulation (what if?) exercises. Design/methodology/approach – The authors apply the econometric...