haku: @author John, K. / yhteensä: 20
viite: 5 / 20
| Tekijä: | Sundaram, A. John, T. John, K. |
| Otsikko: | An empirical analysis of strategic competition and firm values: the case of R&D competition |
| Lehti: | Journal of Financial Economics
1996 : MAR, VOL. 40:3, p. 459-486 |
| Asiasana: | STRATEGY R&D COMPETITION |
| Kieli: | eng |
| Tiivistelmä: | The authors operationalize a firm's competitive strategy through a new empirical measure, and develop a framework for empirical analysis of the market value of strategic behavior. Using this framework, the authors study announcement effects of R&D spending. The announcing firm's stock prices are positively influenced by a change in spending, and negatively by their competitive strategy measure (CSM). Competitor's stock prices are positively influenced by the interaction between the market's reaction to the announcing firm and the CSM. |
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