search query: @author Hall, B.H. / total: 5
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| Author: | Hall, B.H. |
| Title: | The stock markets valuation of R & D investment during the 1980's. |
| Journal: | American Economic Review
1993 : MAY, VOL. 83:2, p. 259-264 |
| Index terms: | R&D STOCK MARKETS |
| Language: | eng |
| Abstract: | This paper reports a rather surprising new finding: the stock market's valuation of the intangible capital created by R & D investment in the manufacturing sector has fallen precipitously. Several possible explanations include a fall in the private rate of return to R & D, a rise in the depreciation rate of R & D capital, market irrationality or a change in risk aversion, and the restructuring wave of the 1980's. |
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