Table 3.
Own R&D expenditures by world’s 200 largest R&D spenders in 1994
| Country (n) | R&D as percentage of
|
Profits/sales, % | Cost of funds/profits, % | ||
|---|---|---|---|---|---|
| Sales | Profits* | Costs of funds† | |||
| Sweden (7) | 9.2 | 73.4 | 194.3 | 12.5 | 37.8 |
| Switzerland (7) | 6.9 | 69.0 | 140.4 | 10.0 | 49.1 |
| Netherlands (3) | 5.6 | 103.8 | 201.0 | 5.4 | 51.6 |
| Japan (60) | 5.5 | 204.0 | 185.6 | 2.7 | 109.9 |
| Germany (16) | 4.9 | 149.0 | 202.9 | 3.2 | 73.4 |
| France (18) | 4.6 | 256.5 | 111.9 | 1.8 | 229.2 |
| United States (67) | 4.2 | 43.8 | 96.6 | 9.6 | 45.3 |
| United Kingdom (12) | 2.6 | 23.7 | 52.3 | 11.0 | 45.3 |
| Italy (4) | 2.3 | N/A | 34.0 | N/A | N/A |
| Total (200) | 4.7 | 72.1 | 119.1 | 6.5 | 63.1 |
Data taken from ref. 32. n, No. of firms; N/A, not applicable.
*
Profits represent profits before tax, as disclosed in the accounts.
†
Cost of funds represents (equity and preference dividends appropriated against current year profits) + (interest servicing costs on debt) + (other financing contracts, such as finance leases).