The measurement of the value of R&D expenditure
碩士 === 東吳大學 === 會計學系 === 85 === This study examines whether reports accounting earnings reflect benefits from past research and development expenditures and uses the benefits, if any,to estimate the investment value of R& D. The issue is how to extrac...
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ndltd-TW-085SCU003850402016-07-01T04:15:55Z http://ndltd.ncl.edu.tw/handle/82818214818859229005 The measurement of the value of R&D expenditure 企業研發支出之價值衡量 JAW, YAW JUIN 趙耀君 碩士 東吳大學 會計學系 85 This study examines whether reports accounting earnings reflect benefits from past research and development expenditures and uses the benefits, if any,to estimate the investment value of R& D. The issue is how to extract realize R&D benefits from income statement numbers. To the extent that market participants can determine realized benefits and expect these enefits to persist in the future, they will use accounting earnings numbers to value current R&D. This study uses cross-sectional data to estimate a recursive system of two equations: one for earnings and one for valuation. The coefficients derived from these two equations are then used to estimate the investment value of R&D. This system of equations assumes that past R&D generates earnings that create market value. The results from the earnings model indicate that reported earnings do reflect realized benefits from current R&D expenditures. The results from the valuation model indicate that incestors place a high value on current R&D investment. Finally, this study doesn''t provide significant evidence supporting the lag effect in the relation of earnings to R&D, but market value reflect past R&D investment. SHEN DAH PAI 沈大白 1997 學位論文 ; thesis 80 zh-TW |
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碩士 === 東吳大學 === 會計學系 === 85 === This study examines whether reports accounting earnings reflect
benefits from past research and development expenditures and
uses the benefits, if any,to estimate the investment value of R&
D. The issue is how to extract realize R&D benefits from income
statement numbers. To the extent that market participants can
determine realized benefits and expect these enefits to persist
in the future, they will use accounting earnings numbers to
value current R&D. This study uses cross-sectional data to
estimate a recursive system of two equations: one for earnings
and one for valuation. The coefficients derived from these two
equations are then used to estimate the investment value of R&D.
This system of equations assumes that past R&D generates
earnings that create market value. The results from the earnings
model indicate that reported earnings do reflect realized
benefits from current R&D expenditures. The results from the
valuation model indicate that incestors place a high value on
current R&D investment. Finally, this study doesn''t provide
significant evidence supporting the lag effect in the relation
of earnings to R&D, but market value reflect past R&D
investment.
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author2 |
SHEN DAH PAI |
author_facet |
SHEN DAH PAI JAW, YAW JUIN 趙耀君 |
author |
JAW, YAW JUIN 趙耀君 |
spellingShingle |
JAW, YAW JUIN 趙耀君 The measurement of the value of R&D expenditure |
author_sort |
JAW, YAW JUIN |
title |
The measurement of the value of R&D expenditure |
title_short |
The measurement of the value of R&D expenditure |
title_full |
The measurement of the value of R&D expenditure |
title_fullStr |
The measurement of the value of R&D expenditure |
title_full_unstemmed |
The measurement of the value of R&D expenditure |
title_sort |
measurement of the value of r&d expenditure |
publishDate |
1997 |
url |
http://ndltd.ncl.edu.tw/handle/82818214818859229005 |
work_keys_str_mv |
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