"Learning-by-doing" is usually identified as a process whereby performance increases with experience in production. The … "learning", or performance improvement over time is not a by-product of the mere repetition of the same production activities …

We investigate the effects of R&D investment on performance outcomes (sales growth and relative profitability) for …&D on firm performance, some find that firms investing in R&D do not perform significantly better, in some cases, even … perform worse than their non-investing counterparts. We claim that the effects of R&D on performance are often mis …