Value of Intangibles Arising from R&D Activities

نویسندگان

  • Ana Maria Bandeira
  • Oscar Afonso
چکیده

This paper develops an empirical approach using econometric techniques for panel data which aims to contribute to the reduction/elimination of the deviation between the book and market value of firms. Based on 20 of the firms with the largest number of patents granted between 1996 and 2006, the results show that: (i) the increase in the return on equity following from an increase in the share of investment in R&D is greater in the long run; (ii) there is a positive relationship between the results (and the value of firms) and R&D activities; (iii) by updating the additional periodical results generated by investment in R&D, the present value of the intangible asset can be determined. JEL Classification: C23, G12; G31, M41, O32.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

The Role of R&D in Trade Expansion: A Semi-parametric Gravity Specification for East and West Asia

In more recent years, it has become increasingly recognized that R&D (research and development) is a key driver of economic growth, a source of innovation and change, and as such stimulates improvements in productivity and economic competitiveness. It is closely associated with knowledge and flexibility, two factors that have gained new significance as a source of competitiveness in an increasi...

متن کامل

Intangibles, mismeasurement and the international productivity slowdown

We study if part of the recent international productivity slowdown can be ascribed to intangibles. Over the Great Recession both tangible and intangible investment fell, but intangible investment fell less and recovered much faster. This might a ect measured TFP growth via a combination of reduced spillovers (if any) from intangibles and mismeasurement of GDP. Using a 16 country dataset, and pr...

متن کامل

INTANGIBLE ASSETS Measurement , Drivers , Usefulness

The measurement and valuation of intangible assets are a matter of considerable interest to managers, investors, and accounting-standard setters. Important decisions concerning intangibles are hampered by the lack of systematic and comparable measures for these increasingly important assets. In this study, we provide an approach to estimating the value of intangible assets that are not recorded...

متن کامل

Organizational Capital , R & D Assets , and Offshore Outsourcing

The degree of offshore outsourcing in the high-tech industries has increased rapidly in past decades. Because of this trend, economists have been debating whether offshore outsourcing is hollowing out U.S. high-tech firms’ core competencies in intangibles. To contribute to the debate, I first develop a forward-looking profit model and use Compustat dataset to measure the capital stock and depre...

متن کامل

Accounting for intangibles: Financial reporting and value creation in the knowledge economy A Research Report for The Work Foundation’s Knowledge Economy Programme

Accounting for intangibles 2 Contents Executive Summary 3 Introduction 6 1. The macroeconomics of the knowledge economy 11 1.1 How much does the UK invest in intangible assets 11 1.2 Measuring the contribution of intangible investment to productivity 16 1.3 Macroeconomic complexities of intangible assets 21 2. Accounting for intangibles in the corporate sector 25 2.1 Identifying intangible asse...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2010