RELATIONSHIP BETWEEN R&D AND BRAND VALUE: TÜRKIYE APPLICATION

Abstract

The aim of this study is to investigate the impact of research and development expenses (R&D) on brand values. In this context, 288 observation data of 40 companies included in the Turkey’s top 100 brands report published by Brand Finance between 2012 and 2021 were obtained. Analyzes were performed using least squares regression (OLS) and clustered standard errors estimators. Research results reveal that there is a positive and statistically significant relationship between R&D expenses and brand value. This relationship is also valid for one, two and three period lagged values of R&D expenditures and reveals that there is a positive relationship with brand value. In addition, additional analyzes indicate that R&D expenditures are positively related to changes in companies’ rankings in the brand value report. These findings show that current and past R&D expenses affect not only the current brand value but also the dynamics of companies in brand rankings. This study makes significant contributions to the business world and academic research by comprehensively revealing the impact of R&D expenditures on the brand value of companies. The results of the research provide valuable insights to business managers and strategists on how companies can effectively use R&D expenditures to improve their competitive advantage and market position.

Keywords

• Brand Value
• R&D
• Regression Analysis
• Brand Finance

AR-GE İLE MARKA DEĞERİ ARASINDAKİ İLİŞKİ: TÜRKİYE UYGULAMASI

Öz

Bu çalışmanın amacı araştırma ve geliştirme giderlerinin (Ar-Ge) marka değerleri üzerindeki etkisini araştırmaktadır. Bu bağlamda, Brand Finance kuruluşu tarafından 2012 ile 2021 yılları arasında yayımladığı Türkiye’nin en iyi 100 markası raporunda yer alan 40 şirkete ait 288 gözlem verisi elde edilmiştir. Analizler, en küçük kareler regresyon (OLS) regresyon yöntemiyle ve kümelenmiş standart hatalar tahmincileri kullanılarak gerçekleştirilmiştir. Araştırma sonuçları, Ar-Ge giderleri ile marka değeri arasında pozitif ve istatiksel olarak anlamlı bir ilişki olduğunu ortaya koymaktadır. Bu ilişki, ArGe harcamalarının bir, iki ve üç dönem gecikmeli değerleri için de geçerli olup marka değeri ile pozitif bir ilişki içinde olduğunu ortaya koymaktadır. Ek olarak, yapılan ek analizler Ar-Ge harcamalarının, şirketlerin marka değeri raporundaki sıralamasındaki değişimlerle de pozitif bir ilişki içinde olduğunu belirtmektedir. Bu bulgular, cari ve geçmiş dönem Ar-Ge giderlerinin, sadece mevcut marka değerine değil, aynı zamanda şirketlerin marka sıralamasındaki dinamiklerine de etki ettiğini göstermektedir. Bu çalışma, Ar-Ge harcamalarının şirketlerin marka değeri üzerindeki etkisini kapsamlı bir şekilde ortaya koyarak, iş dünyası ve akademik araştırmalara önemli katkılar sunmaktadır. Araştırmanın sonuçları, işletme yöneticilerine ve stratejistlere, şirketlerin rekabetçi avantajlarını ve pazar konumlarını iyileştirmek için Ar-Ge harcamalarını etkin bir şekilde kullanmaları konusunda değerli içgörüler sağlamaktadır.

Anahtar Kelimeler

• Marka Değeri
• Ar-Ge
• Regresyon Analizi
• Brand Finance

Kaynakça

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