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

Author

Listed:
  • 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.

Suggested Citation

  • Yuan, DING & Gary, ENTWISTLE & Hervé, STOLOWY, 2003. "International differences in R&D disclosure practices : evidence in a French and Canadian context," Les Cahiers de Recherche 783, HEC Paris.
  • Handle: RePEc:ebg:heccah:0783
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    References listed on IDEAS

    as
    1. 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.
    2. 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, pages 1-51.
    3. Basu, Sudipta, 1997. "The conservatism principle and the asymmetric timeliness of earnings," Journal of Accounting and Economics, Elsevier, pages 3-37.
    4. Bernard Raffournier, 1995. "The determinants of voluntary financial disclosure by Swiss listed companies," European Accounting Review, Taylor & Francis Journals, pages 261-280.
    5. 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.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Gamal Atallah & Massoud Khazabi, 2005. "A Model of R&D Capitalization," International Journal of Business and Economics, College of Business and College of Finance, Feng Chia University, Taichung, Taiwan, pages 107-121.
    2. Shiell, Leslie & Lyssenko, Nikita, 2008. "Computing business-as-usual with a representative agent and a pollution externality," Journal of Economic Dynamics and Control, Elsevier, pages 1543-1568.
    3. Gamal Atallah & Massoud Khazabi, 2005. "A Model of R&D Capitalization," International Journal of Business and Economics, College of Business and College of Finance, Feng Chia University, Taichung, Taiwan, pages 107-121.

    More about this item

    Keywords

    R&D disclosure; France; Canada;

    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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