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International differences in R&D disclosure practices : evidence in a French and Canadian context

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Author Info

  • Yuan, DING

    ()

  • Gary, ENTWISTLE

    (College of Commerce)

  • Hervé, STOLOWY

    ()

Abstract

This paper compares the R&D disclosure practices in France and Canada, as evidenced in the annual reports of 76 French and 110 Canadian listed companies. It finds that Canadian high-tech companies (hardware, software, and biotechnology) disclose significantly more information on their R&D activities than their French counterparts. It also finds a strong link between R&D intensity and R&D disclosure among Canadian high-tech companies. Canadian companies overall are also found to be more likely to use non-financial disclosure as a means to resolve any R&D information asymmetry, while French firms disclose more traditional financial and accounting information. Canadian companies are also more willing than French firms to provide information concerning their future R&D expenditures. These results are consistent with inherent cultural and capital market differences between France and Canada. In contrast, the study does not find any significant difference in R&D expenditure capitalization policies between French and Canadian firms.

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Bibliographic Info

Paper provided by HEC Paris in its series Les Cahiers de Recherche with number 783.

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Length: 22 pages
Date of creation: 01 Mar 2003
Date of revision:
Handle: RePEc:ebg:heccah:0783

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Postal: HEC Paris, 78351 Jouy-en-Josas cedex, France
Web page: http://www.hec.fr/
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Related research

Keywords: R&D disclosure; France; Canada;

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  1. Gamble, George O. & Hsu, Kathy & Jackson, Cynthia & Tollerson, Cynthia D., 1996. "Environmental disclosures in annual reports: An international perspective," The International Journal of Accounting, Elsevier, vol. 31(3), pages 293-331.
  2. David S. Gelb, 2002. "Intangible Assets and Firms' Disclosures: An Empirical Investigation," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 29(3&4), pages 457-476.
  3. Ball, Ray & Kothari, S. P. & Robin, Ashok, 2000. "The effect of international institutional factors on properties of accounting earnings," Journal of Accounting and Economics, Elsevier, vol. 29(1), pages 1-51, February.
  4. Basu, Sudipta, 1997. "The conservatism principle and the asymmetric timeliness of earnings," Journal of Accounting and Economics, Elsevier, vol. 24(1), pages 3-37, December.
  5. Bernard Raffournier, 1995. "The determinants of voluntary financial disclosure by Swiss listed companies," European Accounting Review, Taylor & Francis Journals, vol. 4(2), pages 261-280.
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Cited by:
  1. Gamal Atallah, 2005. "A Model of R&D Capitalization," Working Papers 0501E, University of Ottawa, Department of Economics.

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