This study proposes a three-stage model of R&BD performance which captures commercialization outcomes as well as conventional R&D performance. The model is composed of three factors:inputs (R&D budgets and researchers), outputs (patents and papers), and outcomes (technical fees, products sales, and cost savings). Three stages are defined for each transformation process between the three factors:efficiency stage from input to output (stage 1), effectiveness stage from output to outcome (stage

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... and productivity stage from input to outcome (stage 3). The performance of each stage is measured by data envelopment analysis (DEA). DEA is a non-parametric efficiency measurement technique that has widely been used in R&D performance measurement. We measure the performance of 171 projects of 6 public R&BD programs managed by Seoul Business Agency using the proposed three-stage model. In order to provide a balanced and holistic view of R&BD performance, the R&BD performance map is also constructed based on performance of efficiency and productivity stages. † efficiency of government-sponsored R&D projects:A three-stage approach, Evaluation and Program Planning, 32(2), 178-186. Jeon, J., Kim, C., and Lee, H. (2011), Measuring efficiency of total productive maintenance(TPM):a three-stage data envelopment analysis(DEA) approach, Total Quality Management and Business Excellence, 22(8), 911-924.