Exploring the impact of R&D intensity, human capital, patents, and brand value on business performance in small and medium enterprises (SMEs)

Figures & data

Figure 1. Conceptual framework.

Source: designed by myself.

Table 1. Descriptive statistics.

Code	N	Minimum	Maximum	Mean	Std. Deviation
ROE	845	−176.060	872.000	13.908	49.024
ROA	846	−157.928	601.306	7.306	26.606
A_b	663	2.000	41.000	16.790	5.184
S_ta	845	2.458	6.665	4.523	0.609
RD_i	845	0.000	379.000	6.702	14.255
RP_r	846	0.000	146.667	30.496	21.989
TP_r	846	0.000	672.973	34.893	32.716
PP_r	846	0.000	94.983	29.462	26.015
MP_r	846	0.000	72.727	12.667	7.845
HeP_r	846	0.000	56.232	5.391	7.056
N_p	290	0.000	300.000	23.830	40.629
BV_ratio	845	0.000	139.013	2.535	8.910

Source: Own elaboration.

Table 2. Result of ROA.

	Unstandardised Coefficients		Standardised Coefficients	t	Sig.
Code	B	Std. Error	Beta
(Constant)	65.222	6.563		9.937	0.000
N_p	0.094	0.035	0.084	2.721	0.007
PP_r	0.159	0.035	0.155	4.570	0.000
HeP_r	0.406	0.125	0.108	3.248	0.001
BV_ratio	1.238	0.097	0.414	12.761	0.000

Source: Own elaboration. The variables included are age of business, Size of business, R&D intensity, Research personnel rate, N° patents, Technological personnel rate, Production personnel rate, Management personnel rate, Highly-educated personnel rate, and Brand value rate.

Table 3. Result of ROE.

	Unstandardised Coefficients		Standardised Coefficients	t	Sig.
Code	B	Std. Error	Beta
(Constant)	78.064	13.062		5.976	0.000
N_p	0.113	0.068	0.055	1.660	0.097
TP_r	−0.124	0.058	−0.083	−2.121	0.034
PP_r	0.289	0.078	0.154	3.707	0.000
HeP_r	0.529	0.246	0.076	2.153	0.032
BV_ratio	1.474	0.191	0.268	7.730	0.000

Source: Own elaboration. The variables included are age of business, Size of business, R&D intensity, Research personnel rate, N° patents, Technological personnel rate, Production personnel rate, Management personnel rate, Highly-educated personnel rate, and Brand value rate.

Table 4. Research hypotheses.

Hypotheses	Result
H1: R&D intensity has a positive impact on business performance.	No
H2: Human capital has a positive impact on business performance.
H2a: Technological personnel has a positive impact on business performance.	Negative
H2b: Production personnel has a positive impact on business performance.	Positive
H2c: Management personnel has a positive impact on business performance.	No
H2d: Highly educated personnel has a positive impact on business performance.	Positive
H2e: R&D personnel has a positive impact on business performance.	No
H3: Patents have a positive impact on business performance.	Positive
H4: Brand value has a positive impact on business performance.	Positive

Source: designed by myself.