Impact of research and development investment on medium-sized agricultural enterprises’ business success in Serbia

Đuričin, Sonja (2024) Impact of research and development investment on medium-sized agricultural enterprises’ business success in Serbia. In: IV international scientific conference "Sustainable agriculture and rural development". Institute of Agricultural Economics, Belgrade, pp. 107-118. ISBN 978-86-6269-134-7

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Abstract

Research and development (RnD) investment marks a company’s initial foray into fostering innovation. Through RnD, companies have the chance to enhance existing processes and create novel business processes, products, and services. Innovative processes, products, and services bestow a competitive edge, result in time, and resource savings, and promote diversified operations, rendering businesses less vulnerable to market fluctuations. The research objective is to assess how RnD investments affect the success of medium-sized agricultural businesses in the Republic of Serbia between 2020 and 2021. The research centers on the examination of the primary financial indicators of medium-sized agricultural enterprises (Intermediate-scale businesses in the agricultural sector/ or ISB-AS) in 2020-2021. The performance value was determined by applying financial analysis. The data were collected from the official financial reports of all intermediate-scale businesses in the agricultural sector that are registered in the Republic of Serbia. The research is grounded in the hypothesis that medium-sized agricultural enterprises, which allocate resources to RnD, achieve superior financial indicators compared to the average performance observed among all medium-sized enterprises. The research findings have practical implications for policy development in this area and are of great importance to business leaders in developing operational and strategic business goals.

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