search query: @author Hirschey, M. / total: 11
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| Author: | Chauvin, K. Hirschey, M. |
| Title: | Advertising, R&D expenditures and the market value of the firm |
| Journal: | Financial Management
1993 : WINTER, VOL. 22:4, p. 128-140 |
| Index terms: | ADVERTISING R&D EXPENDITURE |
| Language: | eng |
| Abstract: | This paper provides evidence that advertising and research and development (R&D) expenditures have large, positive and consistent influences on the market value of the firm. Like information on current cash flows, data on advertizing and R&D spending appear to help investors form appropriate expectations concerning the size and variability of future cash flows. As a result, spending on advertising and R&D can be viewed as a form of investment in intangible assets with predictability positive effects on future cash flows. |
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