Earnings Component Volatilities: Capital Versus R&D Expenditures
Author
Abstract
Suggested Citation
DOI: 10.1111/poms.13333
Download full text from publisher
References listed on IDEAS
- Alvaro Cuervo‐Cazurra & C. Annique Un, 2010. "Why some firms never invest in formal R&D," Strategic Management Journal, Wiley Blackwell, vol. 31(7), pages 759-779, July.
- Philippe Aghion & Richard Blundell & Rachel Griffith & Peter Howitt & Susanne Prantl, 2009.
"The Effects of Entry on Incumbent Innovation and Productivity,"
The Review of Economics and Statistics, MIT Press, vol. 91(1), pages 20-32, February.
- Blundell, Richard & Howitt, Peter & Aghion, Philippe & Griffith, Rachel & Prantl, Susanne, 2005. "The Effects of Entry on Incumbent Innovation and Productivity," CEPR Discussion Papers 5323, C.E.P.R. Discussion Papers.
- Richard, Blundell & Rachel, Griffith & Peter, Howitt & Susanne, Prantl & Aghion, Philippe, 2009. "The Effects of Entry on Incumbent Innovation and Productivity," Scholarly Articles 4554222, Harvard University Department of Economics.
- Philippe Aghion & Richard Blundell & Rachel Griffith & Peter Howitt & Susanne Prantl, 2006. "The Effects of Entry on Incumbent Innovation and Productivity," NBER Working Papers 12027, National Bureau of Economic Research, Inc.
- Aghion, Philippe & Blundell, Richard & Griffith, Rachel & Howitt, Peter & Prantl, Susanne, 2006. "The effects of entry on incumbent innovation and productivity," Discussion Papers, Research Unit: Competition and Innovation SP II 2006-18, WZB Berlin Social Science Center.
- Juan-José Ganuza & Gerard Llobet & Beatriz Domínguez, 2009.
"R& D in the Pharmaceutical Industry: A World of Small Innovations,"
Management Science, INFORMS, vol. 55(4), pages 539-551, April.
- Beatriz Domínguez & Juan José Ganuza & Gerard Llobet, 2005. "R&D in the pharmaceutical industry: A world of small innovations," Economics Working Papers 936, Department of Economics and Business, Universitat Pompeu Fabra.
- Beatriz Domínguez & Juan-José Ganuza & Gerard Llobet, 2006. "R&D in the Pharmaceutical Industry: A World of Small Innovations," Working Papers wp2006_0601, CEMFI.
- Graham, John R. & Harvey, Campbell R. & Rajgopal, Shiva, 2005.
"The economic implications of corporate financial reporting,"
Journal of Accounting and Economics, Elsevier, vol. 40(1-3), pages 3-73, December.
- John R. Graham & Campbell R. Harvey & Shiva Rajgopal, 2004. "The Economic Implications of Corporate Financial Reporting," NBER Working Papers 10550, National Bureau of Economic Research, Inc.
- Dongmei Li, 2011. "Financial Constraints, R&D Investment, and Stock Returns," The Review of Financial Studies, Society for Financial Studies, vol. 24(9), pages 2974-3007.
- Louis K. C. Chan & Josef Lakonishok & Theodore Sougiannis, 2001. "The Stock Market Valuation of Research and Development Expenditures," Journal of Finance, American Finance Association, vol. 56(6), pages 2431-2456, December.
- Allan Eberhart & William Maxwell & Akhtar Siddique, 2008. "A Reexamination of the Tradeoff between the Future Benefit and Riskiness of R&D Increases," Journal of Accounting Research, Wiley Blackwell, vol. 46(1), pages 27-52, March.
- Jonathan Michie & Maura Sheehan, 2003. "Labour market deregulation, 'flexibility' and innovation," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(1), pages 123-143, January.
- Luis Diestre & Nandini Rajagopalan, 2012. "Are all ‘sharks’ dangerous? new biotechnology ventures and partner selection in R&D alliances," Strategic Management Journal, Wiley Blackwell, vol. 33(10), pages 1115-1134, October.
- Allan C. Eberhart & William F. Maxwell & Akhtar R. Siddique, 2004. "An Examination of Long-Term Abnormal Stock Returns and Operating Performance Following R&D Increases," Journal of Finance, American Finance Association, vol. 59(2), pages 623-650, April.
- Gerard Hoberg & Gordon Phillips, 2016.
"Text-Based Network Industries and Endogenous Product Differentiation,"
Journal of Political Economy, University of Chicago Press, vol. 124(5), pages 1423-1465.
- Gerard Hoberg & Gordon M. Phillips, 2010. "Text-Based Network Industries and Endogenous Product Differentiation," NBER Working Papers 15991, National Bureau of Economic Research, Inc.
- George Li & S. Rajagopalan, 1998. "Process Improvement, Quality, and Learning Effects," Management Science, INFORMS, vol. 44(11-Part-1), pages 1517-1532, November.
- Federico Etro, 2004. "Innovation by leaders," Economic Journal, Royal Economic Society, vol. 114(495), pages 281-303, April.
- Michael L. Katz & Carl Shapiro, 1985. "On the Licensing of Innovations," RAND Journal of Economics, The RAND Corporation, vol. 16(4), pages 504-520, Winter.
- Clayton M. Christensen & Rory McDonald & Elizabeth J. Altman & Jonathan E. Palmer, 2018. "Disruptive Innovation: An Intellectual History and Directions for Future Research," Journal of Management Studies, Wiley Blackwell, vol. 55(7), pages 1043-1078, November.
- Karan Girotra & Christian Terwiesch & Karl T. Ulrich, 2007. "Valuing R& D Projects in a Portfolio: Evidence from the Pharmaceutical Industry," Management Science, INFORMS, vol. 53(9), pages 1452-1466, September.
- Richard Blundell & Rachel Griffith & John van Reenen, 1999. "Market Share, Market Value and Innovation in a Panel of British Manufacturing Firms," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 66(3), pages 529-554.
- Arun Kumaraswamy & Raghu Garud & Shahzad (Shaz) Ansari, 2018. "Perspectives on Disruptive Innovations," Journal of Management Studies, Wiley Blackwell, vol. 55(7), pages 1025-1042, November.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Li, Xiaogang, 2020. "Innovation, market valuations, policy uncertainty and trade: Theory and evidence," ISU General Staff Papers 202001010800009179, Iowa State University, Department of Economics.
- da Silva, Raphael Braga & Klotzle, Marcelo Cabus & Pinto, Antonio Carlos Figueiredo & da Motta, Luiz Felipe Jacques, 2018. "R&D investment and risk in Brazil," Global Finance Journal, Elsevier, vol. 35(C), pages 106-114.
- Chan, Konan & Lin, Yueh-hsiang & Wang, Yanzhi, 2015. "The information content of R&D reductions," Journal of Empirical Finance, Elsevier, vol. 34(C), pages 131-155.
- Hirshleifer, David & Hsu, Po-Hsuan & Li, Dongmei, 2013. "Innovative efficiency and stock returns," Journal of Financial Economics, Elsevier, vol. 107(3), pages 632-654.
- Ciftci, Mustafa & Cready, William M., 2011. "Scale effects of R&D as reflected in earnings and returns," Journal of Accounting and Economics, Elsevier, vol. 52(1), pages 62-80, June.
- Oh, Jong-Min, 2017. "Absorptive capacity, technology spillovers, and the cross-section of stock returns," Journal of Banking & Finance, Elsevier, vol. 85(C), pages 146-164.
- Hsu, Po-Hsuan & Huang, Dayong, 2010. "Technology prospects and the cross-section of stock returns," Journal of Empirical Finance, Elsevier, vol. 17(1), pages 39-53, January.
- 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.
- David Hirshleifer & Po-Hsuan Hsu & Dongmei Li, 2018.
"Innovative Originality, Profitability, and Stock Returns,"
The Review of Financial Studies, Society for Financial Studies, vol. 31(7), pages 2553-2605.
- David Hirshleifer & Po-Hsuan Hsu & Dongmei Li, 2017. "Innovative Originality, Profitability, and Stock Returns," NBER Working Papers 23432, National Bureau of Economic Research, Inc.
- Olivier Ledoit & Michael Wolf & Zhao Zhao, 2016. "Efficient Sorting: A More Powerful Test for Cross-Sectional Anomalies," ECON - Working Papers 238, Department of Economics - University of Zurich, revised May 2018.
- Paul Brockman & Dennis Y. Chung & Kenneth W. Shaw, 2017. "The R&D-abnormal return anomaly: a transaction cost explanation," Review of Quantitative Finance and Accounting, Springer, vol. 48(2), pages 385-406, February.
- Tobek, Ondrej & Hronec, Martin, 2021. "Does it pay to follow anomalies research? Machine learning approach with international evidence," Journal of Financial Markets, Elsevier, vol. 56(C).
- Shilpi Tyagi & D. K. Nauriyal & Rachita Gulati, 2018. "Firm level R&D intensity: evidence from Indian drugs and pharmaceutical industry," Review of Managerial Science, Springer, vol. 12(1), pages 167-202, January.
- Lee, Charles M.C. & Sun, Stephen Teng & Wang, Rongfei & Zhang, Ran, 2019.
"Technological links and predictable returns,"
Journal of Financial Economics, Elsevier, vol. 132(3), pages 76-96.
- Lee, Charles M. C. Lee & Sun, Stephen Teng & Wang, Rongfei & Zhang, Ran, 2017. "Technological Links and Predictable Returns," Research Papers repec:ecl:stabus:3605, Stanford University, Graduate School of Business.
- Gu, Lifeng, 2016. "Product market competition, R&D investment, and stock returns," Journal of Financial Economics, Elsevier, vol. 119(2), pages 441-455.
- Brasch, Annika & Eierle, Brigitte & Jarvis, Robin, 2022. "Research and development investments, development costs capitalization, and credit ratings: Exploratory evidence from UK R&D-active private firms," Journal of International Accounting, Auditing and Taxation, Elsevier, vol. 48(C).
- Du, Qianqian & Shen, Rui, 2018. "Peer performance and earnings management," Journal of Banking & Finance, Elsevier, vol. 89(C), pages 125-137.
- Cheng Jiang & Kose John & David Larsen, 2021. "R&D investment intensity and jump volatility of stock price," Review of Quantitative Finance and Accounting, Springer, vol. 57(1), pages 235-277, July.
- Hsu, Po-Hsuan & Wang, Chong & Wu, Chaopeng, 2013. "Banking systems, innovations, intellectual property protections, and financial markets: Evidence from China," Journal of Business Research, Elsevier, vol. 66(12), pages 2390-2396.
- Ma, Yu Luen & Ren, Yayuan, 2023. "InsurTech—Promise, threat or hype? Insights from stock market reaction to InsurTech innovation," Pacific-Basin Finance Journal, Elsevier, vol. 80(C).
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:popmgt:v:30:y:2021:i:5:p:1475-1492. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1937-5956 .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.