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The Wealth Effects Of Announcements Of R&D Expenditure Increases

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  • Zaher Z. Zantout
  • George P. Tsetsekos

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  • Zaher Z. Zantout & George P. Tsetsekos, 1994. "The Wealth Effects Of Announcements Of R&D Expenditure Increases," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 17(2), pages 205-216, June.
    • Handle: RePEc:bla:jfnres:v:17:y:1994:i:2:p:205-216
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    References listed on IDEAS

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    1. Chan, Su Han & Martin, John D. & Kensinger, John W., 1990. "Corporate research and development expenditures and share value," Journal of Financial Economics, Elsevier, vol. 26(2), pages 255-276, August.
    2. Spence, Michael, 1984. "Cost Reduction, Competition, and Industry Performance," Econometrica, Econometric Society, vol. 52(1), pages 101-121, January.
    3. Mikkelson, Wayne H. & Partch, M. Megan, 1986. "Valuation effects of security offerings and the issuance process," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 31-60.
    4. Eckbo, B. Espen, 1983. "Horizontal mergers, collusion, and stockholder wealth," Journal of Financial Economics, Elsevier, vol. 11(1-4), pages 241-273, April.
    5. Wagenhofer, Alfred, 1990. "Voluntary disclosure with a strategic opponent," Journal of Accounting and Economics, Elsevier, vol. 12(4), pages 341-363, March.
    6. J. Randall Woolridge & Charles C. Snow, 1990. "Stock market reaction to strategic investment decisions," Strategic Management Journal, Wiley Blackwell, vol. 11(5), pages 353-363, September.
    7. McConnell, John J. & Muscarella, Chris J., 1985. "Corporate capital expenditure decisions and the market value of the firm," Journal of Financial Economics, Elsevier, vol. 14(3), pages 399-422, September.
    8. Porter, Michael E, 1979. "The Structure within Industries and Companies' Performance," The Review of Economics and Statistics, MIT Press, vol. 61(2), pages 214-227, May.
    9. Beath, John & Katsoulacos, Yannis & Ulph, David, 1989. "Strategic R&D Policy," Economic Journal, Royal Economic Society, vol. 99(395), pages 74-83, Supplemen.
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    Cited by:

    1. Sheng-Syan Chen & Chia-Wei Huang & Chuan-Yang Hwang & Yanzhi Wang, 2022. "Voluntary disclosure and corporate innovation," Review of Quantitative Finance and Accounting, Springer, vol. 58(3), pages 1081-1115, April.
    2. Tami Dinh Thi & Wolfgang Schultze, 2011. "Capitalizing research & development and ‘other information’: the incremental information content of accruals versus cash flows," Metrika: International Journal for Theoretical and Applied Statistics, Springer, vol. 22(3), pages 241-278, November.
    3. Chen, Chao & Gu, Junjian & Luo, Rongxi, 2022. "Corporate innovation and R&D expenditure disclosures," Technological Forecasting and Social Change, Elsevier, vol. 174(C).
    4. Li-Hui Chung & Ching-Chun Wei, 2017. "The Impact Effect of Corporate Governance and Corporate Social Responsibility on Company Performance After the Financial Tsunami," Asian Journal of Economic Modelling, Asian Economic and Social Society, vol. 5(4), pages 465-479, December.
    5. Ashish Sood & Gerard J. Tellis, 2009. "Do Innovations Really Pay Off? Total Stock Market Returns to Innovation," Marketing Science, INFORMS, vol. 28(3), pages 442-456, 05-06.
    6. Kumari, Vineeta & Hassan, Majdi & Pandey, Dharen Kumar, 2024. "Are high-income and innovative nations resilient to the Russia-Ukraine war?," International Review of Economics & Finance, Elsevier, vol. 93(PA), pages 1268-1287.
    7. Bruce Burton, 2003. "Evidence on the extent of relationships among investment opportunity set proxies," Applied Economics Letters, Taylor & Francis Journals, vol. 10(7), pages 437-441.
    8. Chen, Sheng-Syan & Ho, Kim Wai & Lee, Cheng-few & Yeo, Gillian H. H., 2000. "Investment opportunities, free cash flow and market reaction to international joint ventures," Journal of Banking & Finance, Elsevier, vol. 24(11), pages 1747-1765, November.
    9. Songur, Hilmi & Heavilin, Jason E., 2017. "Abnormal research and development investments and stock returns," The North American Journal of Economics and Finance, Elsevier, vol. 42(C), pages 237-249.
    10. Howard Chan & Robert Faff & Philip Gharghori & Yew Ho, 2007. "The relation between R&D intensity and future market returns: does expensing versus capitalization matter?," Review of Quantitative Finance and Accounting, Springer, vol. 29(1), pages 25-51, July.
    11. Stoneman, Paul, 2011. "Soft Innovation: Economics, Product Aesthetics, and the Creative Industries," OUP Catalogue, Oxford University Press, number 9780199697021.
    12. Bruce Burton & A. Alasdair Lonie & David Power, 2003. "Insider trading, growth opportunities and the market reaction to new financing announcements," The European Journal of Finance, Taylor & Francis Journals, vol. 9(4), pages 301-322.
    13. SooGeun Ahn & Jeewhan Yoon & YoungJun Kim, 2018. "The innovation activities of small and medium-sized enterprises and their growth: quantile regression analysis and structural equation modeling," The Journal of Technology Transfer, Springer, vol. 43(2), pages 316-342, April.
    14. Xiang, Erwei & Gasbarro, Dominic & Cullen, Grant & Ruan, Wenjuan, 2020. "Does R&D expenditure volatility affect stock return?," Journal of Contemporary Accounting and Economics, Elsevier, vol. 16(3).
    15. Adcock, Christopher & Hua, Xiuping & Mazouz, Khelifa & Yin, Shuxing, 2014. "Does the stock market reward innovation? European stock index reaction to negative news during the global financial crisis," Journal of International Money and Finance, Elsevier, vol. 49(PB), pages 470-491.
    16. Francesco Pasimeni & Alessandro Fiorini & Aliki Georgakaki, 2018. "Patent-based Estimation Procedure of Private R&D: The Case of Climate Change and Mitigation Technologies in Europe," SPRU Working Paper Series 2018-06, SPRU - Science Policy Research Unit, University of Sussex Business School.
    17. Parmjit Kaur & Randeep Kaur, 2019. "Effects of Strategic Investment Decisions on Value of Firm: Evidence from India," Paradigm, , vol. 23(1), pages 1-19, June.

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