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Analysis Of The Impact Of Innovation On The Stock Market Performance Of Manufacturing Industry Companies In Romania

Author

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  • Alin-Ionut DOROBANTU
  • Ioan-Alexandru DUMITRESCU

Abstract

The research paper consists in analyzing the impact of innovation activities performance of companies on the stock market. Recent studies have shown that the occasional efforts made by such activities can positively influence the price of shares. Investments in innovation lead to an indirect effect on stock market performance, as they influence financial performance, which in turn, has an impact on stock prices. The impact generated by investments in research and development is lower in the short term, while, in the long term, investments in innovation have a stronger influence upon stock market performance. The purpose of the paper is to study the existence and intensity of the connection between the innovation efforts of listed companies and their stock market performance. The study is based on real information from the Bucharest Stock Exchange website. The research method used involves the analysis of data using regression and correlation, this being calculated with the help of the statistical program SPSS. The study proves that the effects of investments made in innovation have a positive impact on stock market performance, highlighting the connection between them

Suggested Citation

  • Alin-Ionut DOROBANTU & Ioan-Alexandru DUMITRESCU, 2020. "Analysis Of The Impact Of Innovation On The Stock Market Performance Of Manufacturing Industry Companies In Romania," The Valuation Journal, The National Association of Authorized Romanian Valuers, vol. 15(1), pages 73-93.
    • Handle: RePEc:vaj:journl:v:15:y:2020:i:1:p:73-93
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    More about this item

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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