haku: @author Ciftci, M. / yhteensä: 2
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Tekijä:Ciftci, M.
Cready, W.M.
Otsikko:Scale effects of R&D as reflected in earnings and returns
Lehti:Journal of Accounting & Economics
2011 : JUN, VOL. 52:1, p. 62-80
Asiasana:profitability
production
investments
r&d
production
rate of return
Kieli:eng
Tiivistelmä:Conceptually based on returns to scale, this study explores how R&D-related earnings performance and earnings variability depend upon the size of the firm. We find the positive association between future earnings and R&D intensity increasing with firm size, and the positive relation between the volatility of future earnings and R&D intensity decreasing with firm size, consistent with R&D productivity's scale benefits. It is also shown that R&D scale is connected with lower market returns, consistent with the idea of R&D investment risk declineing with scale.
SCIMA tietueen numero: 276021
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