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УДК 338.46

DOI: https://doi.org/10.36887/2415-8453-2026-1-4

Krasovskiy Valeriy,
Postgraduate
Simon Kuznets Kharkiv National University of Economics,
https://orcid.org/0009-0002-4387-6144

JEL classification: O32, L25, L86, O31

The relevance of this study stems from the growing importance of innovation factors in ensuring operational efficiency and sustainable development in the digital economy. Research and Development (R&D) activity is increasingly viewed not merely as a budget expenditure, but as a strategic investment that secures long-term performance, laying the foundation for technological innovation, business process optimization, value creation, and enduring competitive advantages. In this context, it is crucial to analyze the relationship between R&D expenditure dynamics and company performance, while accounting for varying levels of innovation in R&D implementation. This article analyzes data from leading IT companies for the 2021–2024 period, identifying key R&D trends and confirming that R&D investment is a strategic priority for these companies. Based on an analysis of R&D expenditure volumes and Compound Annual Growth Rates (CAGR), the study demonstrates the variability in corporate approaches to research and development, ranging from moderate strategies focused on supporting existing products and technologies to aggressive ones aimed at a large-scale buildup of innovation potential. A comparison of R&D cost growth rates with key performance indicators (revenue, operating expenses, profit, assets, market value) revealed distinct development trajectories depending on the level of innovation activity. The findings highlight accelerated revenue and market capitalization growth for companies with moderate R&D spending, while identifying a lagged effect of innovation investment for companies pursuing an aggressive R&D approach. Rank correlation results confirm the dependence between R&D activity and corporate development dynamics. Finally, behavioral patterns are provided to typologize the R&D strategies of IT companies.

Keywords: Research and Development (R&D), innovation activity, Compound Annual Growth Rate (CAGR), company performance, rank correlation, R&D activity patterns.

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The article was received 25.02.2026

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Krasovskiy Valeriy. 25.02.2026. R&d activity patterns of it companies: the correlation between r&d investment and performance results. The journal "Ukrainian Journal of Applied Economics and Technology". 2026 / #1. 28-32pp. https://doi.org/10.36887/2415-8453-2026-1-4

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Krasovskiy Valeriy. "R&d activity patterns of it companies: the correlation between r&d investment and performance results". The journal "Ukrainian Journal of Applied Economics and Technology". 25.02.2026. https://doi.org/10.36887/2415-8453-2026-1-4

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