1. D. Aboody, B. Lev, Measuring Up: Research & Development Counts for the Chemical Industry, The Council for Chemical Research, Washington, 2001, p. 26. The authors calculate that R&D returns in the U.S. chemical industry are approximately 17.5% (after-tax), versus a 9.75% return on capital investment.
2. The Valuation of Technology: Financial Issues in R&D;Boer,1999
3. A. Damodaran, Research and Development Expenses: Implications for Profitability Measurement and Valuation, Stern School of Business, New York, NY. http://pages.stern.nyu.edu/∼adamodar.
4. F.P. Boer, Technology Valuation Solutions, Mastering Risk in Technology Projects, Wiley, New York, in press (Chapter 5).
5. The Mosaic of Economic Growth;Lau,1996