HOW SECURITIES ANALYSTS SEE INDUSTRIAL RESEARCH-AND-DEVELOPMENT

Securities analysts and other investment professionals continue to dis count the role of research and development in their evaluations and re commendations. As we found in our first survey, published in 1991, ana lysts tend to be suspicious of company announcements of research achie vements and want information that will closely tie technological break throughs to marketing and sales. One surprise: All but one of the anal ysts who responded admitted that they were not qualified by education or experience, to judge R&D accomplishments.