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The Impact of Revised Recommended Accounting Practices on R&D Reporting by UK Firms

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  • Paul Stoneman
  • Otto Toivanen

Abstract

The R&D reporting practices of UK quoted companies are analysed and the impact of the introduction of a revised Statement of Standard Accounting Practices in 1989, SSAP13 (Revised), recommending separate R&D disclosure for companies meeting certain size thresholds, explored. Using hazard rate models the preferred results indicate that the hazard of a firm reporting its R&D in its annual accounts shows positive time dependence and that large firms, by sales, are more likely to announce than small firms. It is also found that the introduction of SSAP13 impacted considerably upon the extent of reporting by all firms (whatever their size) with an anticipation effect in 1988, and large positive impacts in 1989 and 1990. Post-1989 those firms that exceeded the size thresholds embodied in the new standard also had a higher hazard of reporting their R&D.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal International Journal of the Economics of Business.

Volume (Year): 8 (2001)
Issue (Month): 1 ()
Pages: 123-136

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Handle: RePEc:taf:ijecbs:v:8:y:2001:i:1:p:123-136

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Related research

Keywords: R And D; Accounting Standards; Information Disclosure;

References

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  1. Ayres, Frances L., 1986. "Characteristics of firms electing early adoption of SFAS 52," Journal of Accounting and Economics, Elsevier, vol. 8(2), pages 143-158, June.
  2. Wagenhofer, Alfred, 1990. "Voluntary disclosure with a strategic opponent," Journal of Accounting and Economics, Elsevier, vol. 12(4), pages 341-363, March.
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Cited by:
  1. William Griffiths & Elizabeth Webster, 2004. "The Determinants of Research and Development and Intellectual Property Usage among Australian Companies, 1989 to 2002," Melbourne Institute Working Paper Series wp2004n27, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  2. Kafouros, Mario I. & Buckley, Peter J., 2008. "Under what conditions do firms benefit from the research efforts of other organizations?," Research Policy, Elsevier, vol. 37(2), pages 225-239, March.
  3. William Griffiths & Elizabeth Webster, 2009. "What Governs Firm-Level R&D: Internal or External Factors?," Melbourne Institute Working Paper Series wp2009n13, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
  4. Elina Berghäll, 2006. "Technical Change, Efficiency, Firm Size and Age in an R&D Intensive Sector," Discussion Papers 390, Government Institute for Economic Research Finland (VATT).
  5. Elina Berghäll, 2006. "Technical Efficiency in an R&D Intensive Industry: Finnish ICT Manufacturing," Discussion Papers 389, Government Institute for Economic Research Finland (VATT).
  6. Kafouros, Mario I., 2008. "Economic returns to industrial research," Journal of Business Research, Elsevier, vol. 61(8), pages 868-876, August.
  7. Elina Berghäll, 2006. "R&D and Productivity Growth in Finnish ICT Manufacturing," Discussion Papers 388, Government Institute for Economic Research Finland (VATT).

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