The valuation of R&D expenditures in Japan

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Show simple item record Nguyen, Pascal en_US Nivoix, Sophie en_US Noman, Marc en_US
dc.contributor.editor en_US 2011-02-07T06:26:54Z 2011-02-07T06:26:54Z 2010 en_US
dc.identifier 2009002870 en_US
dc.identifier.citation Nguyen Pascal, Nivoix Sophie, and Noman Marc 2010, 'The valuation of R&D expenditures in Japan', Blackwell Publishing, vol. 50, no. 4, pp. 899-920. en_US
dc.identifier.issn 0810-5391 en_US
dc.identifier.other C1 en_US
dc.description.abstract The difficulty to measure the long-term benefits of R&D expenditures and the distortions induced by R&D accounting suggest that R&D-intensive firms could be undervalued. Using several methods commonly applied to detect the abnormal returns associated with mispricing, we find little evidence that the value of R&D investments has been underestimated in the Japanese stock market. Given that R&D accounting rules in Japan are similar to those in United States, the results appear to reject the hypothesis that accounting biases are the cause of the undervaluation of R&D investments observed in the United States. en_US
dc.language en_US
dc.publisher Blackwell Publishing en_US
dc.relation.isbasedon en_US
dc.title The valuation of R&D expenditures in Japan en_US
dc.parent Accounting & Finance en_US
dc.journal.volume 50 en_US
dc.journal.number 4 en_US
dc.publocation Oxford, UK en_US
dc.identifier.startpage 899 en_US
dc.identifier.endpage 920 en_US BUS.School of Finance and Economics en_US
dc.conference Verified OK en_US
dc.for 150201 en_US
dc.personcode 103857 en_US
dc.personcode 0000047588 en_US
dc.personcode 0000047770 en_US
dc.percentage 50 en_US Finance en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US en_US
dc.location.activity en_US
dc.description.keywords R&D expenses; Reporting biases; Market valuation; Mispricing; Abnormal returns en_US

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