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Firm size, sector and market valuation of R&D expenditures

Author

Listed:
  • Syed Zulfiqar Ali Shah
  • Andrew Stark
  • Saeed Akbar

Abstract

Significant market value effects of R&D are found for UK firms of all sizes. Sector-based analyses indicate large, positive and statistically significant influences of R&D on market values of UK firms in both manufacturing and nonmanufacturing sectors.

Suggested Citation

  • Syed Zulfiqar Ali Shah & Andrew Stark & Saeed Akbar, 2008. "Firm size, sector and market valuation of R&D expenditures," Applied Financial Economics Letters, Taylor and Francis Journals, vol. 4(2), pages 87-91.
  • Handle: RePEc:taf:apfelt:v:4:y:2008:i:2:p:87-91
    DOI: 10.1080/17446540701537756
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    References listed on IDEAS

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    1. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-838, May.
    2. repec:bla:joares:v:23:y:1985:i:1:p:326-335 is not listed on IDEAS
    3. Acs, Zoltan J & Audretsch, David B, 1987. "Innovation, Market Structure, and Firm Size," The Review of Economics and Statistics, MIT Press, vol. 69(4), pages 567-574, November.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Apergis, Nicholas & Eleftheriou, Sofia & Payne, James E., 2013. "The relationship between international financial reporting standards, carbon emissions, and R&D expenditures: Evidence from European manufacturing firms," Ecological Economics, Elsevier, vol. 88(C), pages 57-66.
    2. F. Tsoligkas & I. Tsalavoutas, 2011. "Value relevance of R&D in the UK after IFRS mandatory implementation," Applied Financial Economics, Taylor & Francis Journals, vol. 21(13), pages 957-967.
    3. Shah, Syed Zulfiqar Ali & Liang, Shuang & Akbar, Saeed, 2013. "International Financial Reporting Standards and the value relevance of R&D expenditures: Pre and post IFRS analysis," International Review of Financial Analysis, Elsevier, vol. 30(C), pages 158-169.

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