The Puzzle of Low R&D Efficiency: As a Result of Research Capacity or Marketing Capacity?

By the way of analyzing the process of R&D activities, we propose that R&D efficiency should be separated into two parts: research efficiency and marketing efficiency both of which are crucial to success of R&D activities. In the light of this idea, this paper received some new findings from empirical study on R&D efficiency of private technological enterprises in Guangdong province. Production ability of research fruits (research capacity) is not weak, not as we imagined; actually, speed of marketization of research fruits (marketing capacity) is just "bottleneck" of R&D efficiency.