Firm size, sector and market valuation of R&D expenditures

Applied Financial Economics Letters

Volumn 4, Issue 2, 2008, Pages 87-91

  Shah, Syed Zulfiqar Ali ^a   Stark, Andrew W ^b   Akbar, Saeed ^c  

^a UNIVERSITY OF WARWICK   (United Kingdom)

^b UNIVERSITY OF MANCHESTER   (United Kingdom)

^c UNIVERSITY OF LIVERPOOL MANAGEMENT SCHOOL   (United Kingdom)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 40449091696     PISSN: 17446546     EISSN: 17446554     Source Type: Journal    
DOI: 10.1080/17446540701537756     Document Type: Article

References (18)

1. Aboody, D. and Lev, B. (2001) R&D productivity in the chemical industry, Working Paper, University of California, Los Angeles.
2. Acs, Z. J. and Audretsch, D. B. (1987) Innovation, market structure, and firm size, The Review of Economics and Statistics, 69, 567-74.
3. Akbar, S. and Stark, A. W. (2003) Deflators, net share-holder cash flows, dividends capital contributions and estimated models of corporate valuation, Journal of Business Finance & Accounting, 30, 1211-33.
4. Chauvin, K. W. and Hirschey, M. (1993) Advertising, R&D expenditures and the market value of the firm, Financial Management, 22, 128-40.
5. Cohen, W. M. and Klepper, S. (1992) The Anatomy of R&D intensity distributions, American Economic Review, 82, 773-99.
6. Connolly, R. A. and Hirschey, M. (2005) Firm size and the effect of R&D on tobin's q, R&D Management, 35, 217-23.
7. Connolly, R. A. and Hirschey, M. (1990) Firm size and R&D effectiveness: a value-based test, Economics Letters, 32, 277-81.
8. Graham Jr, R. C. and Frankenberger, K. D. (2000) The contribution of changes in advertising expenditures to earnings and market values, Journal of Business Research, 50, 149-55.
9. Griliches, Z. (1990) Patent statistics as economic indicators: a survey, Journal of Economic Literature, 28, 1661-707.
10. Hall, B. H. (1993) The stock market's valuation of R&D investment during the 1980's, American Economics Review, 83, 259-64.
11. Hirschey, M. and Weygandt, J. J. (1985) Amortization policy for advertising and research and development expenditures, Journal of Accounting Research, 23, 326-35.
12. Hirschey, M. and Spencer, S. (1992) Size effects in the market valuation of fundamental factors, Financial Analyst Journal, 48, 91-5.
13. Nooteboom, B. (1994) Innovation and diffusion in small firms: theory and evidence, Small Business Economics, 6, 327-47.
14. Ohlson, J. A. (1989) Accounting earnings, book value, and dividends: the theory of clean surplus equation, Unpublished Working Paper, Columbia University.
15. Paton, D. and Conant, N. (2001) An introduction to the 1999 advertising and industry survey. Journal of Industrial Economics Notes and Comments.
16. Porter, M. E. (1992) Capital disadvantage: America's failing capital investment system, Harvard Business Review, 70, 65-82.
17. Schumpeter, J. A. (1950) Capitalism, Socialism and Democracy, Harper & Row, New York.
18. White, H. (1980) A heteroskedasticity-consistent covariance matrix estimator and a direct test for heteroskedasticity, Econometrica, 48, 817-37.