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https://doi.org/10.1007/s11156-007-0023-1
DC Field | Value | |
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dc.title | The relation between R&D intensity and future market returns: Does expensing versus capitalization matter? | |
dc.contributor.author | Chan, H.W.H. | |
dc.contributor.author | Faff, R.W. | |
dc.contributor.author | Gharghori, P. | |
dc.contributor.author | Ho, Y.K. | |
dc.date.accessioned | 2013-10-09T08:21:16Z | |
dc.date.available | 2013-10-09T08:21:16Z | |
dc.date.issued | 2007 | |
dc.identifier.citation | Chan, H.W.H., Faff, R.W., Gharghori, P., Ho, Y.K. (2007). The relation between R&D intensity and future market returns: Does expensing versus capitalization matter?. Review of Quantitative Finance and Accounting 29 (1) : 25-51. ScholarBank@NUS Repository. https://doi.org/10.1007/s11156-007-0023-1 | |
dc.identifier.issn | 0924865X | |
dc.identifier.uri | http://scholarbank.nus.edu.sg/handle/10635/44461 | |
dc.description.abstract | The Australian accounting environment provides an ideal setting for examining the impact of different accounting treatments of firms' R&D activities on their subsequent returns. Unlike US firms, which can only expense R&D, Australian GAAP permits firms to either expense or capitalize their R&D expenditure. We examine separately the market impact of the R&D intensity of all R&D active firms, 'capitalizers' and 'expensers'. Our results suggest that firms with higher R&D intensity perform better, regardless of the accounting method used, consistent with the resource-based view of the firm. We also find some evidence that firms which expense R&D outperform those which capitalize R&D after controlling for R&D intensity. © 2007 Springer Science+Business Media, LLC. | |
dc.description.uri | http://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1007/s11156-007-0023-1 | |
dc.source | Scopus | |
dc.subject | Accounting for R&D | |
dc.subject | Accounting methods | |
dc.subject | Australian GAAP | |
dc.subject | Capitalization of R&D | |
dc.subject | Future returns | |
dc.subject | Resource-based view | |
dc.type | Article | |
dc.contributor.department | FINANCE & ACCOUNTING | |
dc.description.doi | 10.1007/s11156-007-0023-1 | |
dc.description.sourcetitle | Review of Quantitative Finance and Accounting | |
dc.description.volume | 29 | |
dc.description.issue | 1 | |
dc.description.page | 25-51 | |
dc.identifier.isiut | 000210610000002 | |
Appears in Collections: | Staff Publications |
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