Systematic evaluation of economic and financial impacts in the development and commercialisation of research

Abstract

An assessment of the research impacts and benefits to society is an essential component of publicly funded Research and Development (R&D) programmes/projects since the research is performed on the use of taxpayers' money. The paper is concerned with the impact assessment of research conducted for Thailand Research Fund (TRF). This study is the first systematic effort to integrate the software programming on economic and financial evaluation contributions into the process of research impact assessment. The results provide the performance measurements for research organisations which can be applied to any research disciplinarities. The study would be useful to the research community attempting to establish an effective evaluation system and assist in pricing innovations.