R&D Intensity and Firm Performance of SME Firms in Thailand: The Moderating Role of Firm Size

R&D intensity and firm performance among Thai SMEs are influenced by differences in firm size. Analysis of 151 SMEs indicates that higher R&D intensity is associated with lower firm performance, while larger firms tend to achieve stronger business outcomes. The interaction between R&D intensity and firm size is also negatively associated with firm performance, suggesting that the impact of R&D investment may vary according to organizational scale. These insights can support investors, SME managers, and policymakers in evaluating R&D investment strategies and developing initiatives that foster more effective innovation and sustainable business growth in Thailand.

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