COPRAS Approach for Efficiency Assessment of R&D Expenditures in Technology Transfer Process

Higher education institutions (HEI) performance results depends not only on successful innovative technology transfer (TT) activities and university-industry cooperation, but also on governance funding, distributed by the priority for certain research and development (R&D) fields. The purpose of this article is to propose a concept to assess the efficiency of R&D funding by sector of performance in European countries. The main goal of the paper is to propose a concept to assess the efficiency of R&D funding in European countries, provide insights, recommendations, and point out tendencies for the future improvement of European funding system for HEIs. Multicriteria ranking method COPRAS - an instrument for analysis and decision-making. The empirical research is based on Eurostat data for the period of 2005-2014. Expenditures on R&D gives the fluent explication of European R&D funding (investments) emphasizing the execution of innovation and TT activities at universities. The proposed assessment model allows comparing performance results and rank countries according the efficiency of research funding. Empirical results reveal that the comparatively higher efficiency of research expenditures is in the Northern European countries, Luxembourg and France. Latter tendency slowing to move forward and enhance performance results of HEIs, as well as countries' economic growth.