haku: @indexterm SHARE PRICES / yhteensä: 1009
viite: 17 / 1009
| Tekijä: | Oswald, D.R. Zarowin, P. |
| Otsikko: | Capitalization of R&D and the informativeness of stock prices |
| Lehti: | European Accounting Review
2007 : VOL. 16:4, p. 703-726 |
| Asiasana: | accounting R&D share prices stock returns information companies United Kingdom |
| Vapaa asiasana: | capitalisation |
| Kieli: | eng |
| Tiivistelmä: | This study examines the effect of firms' decision to capitalize R&D expenditures on the amount of information about future earnings reflected in current stock returns, as captured by the association btw. current year returns and future earnings (FERC). A sample of U.K. firms including both R&D capitalizers and expensers is used. An important feature of this paper's tests is the use of a two-equation system to control for the endogeneity of the accounting choice. It is found that capitalization is associated with higher FERC than expensing. |
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