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| Author: | Bublitz, B. Ettredge, M. |
| Title: | The information in discretionary outlays : advertising, research and development. |
| Journal: | Accounting Review
1989 : JAN, VOL. 64:1, p. 108-124 |
| Index terms: | SHARE PRICES RATE OF RETURN FINANCIAL FORECASTING ADVERTISING EXPENDITURE R&D COSTS |
| Language: | eng |
| Abstract: | Recent studies have analyzed the relations between abnormal stock returns and forecast errors of various components of earnings. For discretionary outlays (e.g. advertising and R&D), the sign and magnitude of the relation between errors and returns may provide information on the expected duration of benefits arising from these activities. The results are consistent with a market assessment that advertising is short-lived, while R&D is long-lived. |
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