The Economic Benefits of R&D Expenditure and Insider Holdings

• Main Authors: Kuo-Lung Chang, 張國隆
• Other Authors: Jia-Xun Jiang
• Format: Others
• Language: zh-TW
• Published: 2009
• Online Access: http://ndltd.ncl.edu.tw/handle/64649170769247218071

碩士 === 輔仁大學 === 會計學系碩士班 === 97 === This study investigates the relationship of benefits of R&D expenditure and insider holdings by observing variations of the insider holdings to be helpful and obtain better for firm performance , using a sample of Taiwan’s IT industry. This sample period is based on the Taiwan stock market between 2000 and 2007, using an adopted model based on multiple regression analysis. The empirical results are summarized as follows: First of all, insider holdings have a significant positive relation with firm performance which is as expected. Secondly, R&D has a different effect on firm performance, depending on different firm performance measures. However, being as expected and effect on the performace more significant next year. Thirdly, we also find that interaction between R&D and insider holdings has a different effect on firm performance, depending on different firm performance measures. However, not as expected a result and less significant.