Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure
碩士 === 國立臺灣大學 === 會計學研究所 === 103 === Over the past few decades, R&D related issues have been few discussed due to the uniqueness and the wide operational diversity of different industries. Different from prior literature, this article comprises a variety of industries to study the determinants o...
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ndltd-TW-103NTU053850422016-11-19T04:09:56Z http://ndltd.ncl.edu.tw/handle/78391803457441130689 Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure 探討高流動性資產、景氣循環、市場環境與企業研發支出之關聯性 Yu Tai 戴煜 碩士 國立臺灣大學 會計學研究所 103 Over the past few decades, R&D related issues have been few discussed due to the uniqueness and the wide operational diversity of different industries. Different from prior literature, this article comprises a variety of industries to study the determinants of research and development expenditure by using a panel of more than 30,000 firm-years of publicly listed North America firms from 1970 to 2013. The purpose of this study is to examine how highly liquid current assets, economic and market environment affect the amount of research and development expenditure. The primary findings of this article are as follows: (1) Firms holding more highly liquid current assets tend to invest more in research and development expenditure. (2) The relationship between highly liquid current assets and research and development expenditure is stronger during the periods of recession. (3) Firms tend to invest more research and development expenditure as the competition among individual firms increases. (4) The growth of market demand by industry is negatively associated with R&D expenditure. The results remain robust in the sensitivity test. The findings of this article advance our understanding of determinants of research and development expenditure, and provide practical implications to managers during decision-making. Liu, Chi-Chun 劉啟群 2015 學位論文 ; thesis 34 zh-TW |
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碩士 === 國立臺灣大學 === 會計學研究所 === 103 === Over the past few decades, R&D related issues have been few discussed due to the uniqueness and the wide operational diversity of different industries. Different from prior literature, this article comprises a variety of industries to study the determinants of research and development expenditure by using a panel of more than 30,000 firm-years of publicly listed North America firms from 1970 to 2013. The purpose of this study is to examine how highly liquid current assets, economic and market environment affect the amount of research and development expenditure. The primary findings of this article are as follows:
(1) Firms holding more highly liquid current assets tend to invest more in research and development expenditure.
(2) The relationship between highly liquid current assets and research and development expenditure is stronger during the periods of recession.
(3) Firms tend to invest more research and development expenditure as the competition among individual firms increases.
(4) The growth of market demand by industry is negatively associated with R&D expenditure.
The results remain robust in the sensitivity test. The findings of this article advance our understanding of determinants of research and development expenditure, and provide practical implications to managers during decision-making.
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author2 |
Liu, Chi-Chun |
author_facet |
Liu, Chi-Chun Yu Tai 戴煜 |
author |
Yu Tai 戴煜 |
spellingShingle |
Yu Tai 戴煜 Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
author_sort |
Yu Tai |
title |
Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
title_short |
Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
title_full |
Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
title_fullStr |
Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
title_full_unstemmed |
Effect of Highly Liquid Current Assets, Economic and Market Environment on Corporate R&D Expenditure |
title_sort |
effect of highly liquid current assets, economic and market environment on corporate r&d expenditure |
publishDate |
2015 |
url |
http://ndltd.ncl.edu.tw/handle/78391803457441130689 |
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