Effect of R&D intensity on abnormal earnings
碩士 === 國立臺北大學 === 企業管理學系 === 95 === The study addresses two questions. (1)DO firms’ and industry’s R&D intensity have effects business’ abnormal earnings? (2) Is the effect of R&D intensity with the quality of time lag beneficial to firm performance? The study based on Ohlson’s valuation mo...
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| Format: | Others |
| Language: | zh-TW |
| Published: |
2007
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| Online Access: | http://ndltd.ncl.edu.tw/handle/00022908338776899072 |
| Summary: | 碩士 === 國立臺北大學 === 企業管理學系 === 95 === The study addresses two questions. (1)DO firms’ and industry’s R&D intensity have effects business’ abnormal earnings? (2) Is the effect of R&D intensity with the quality of time lag beneficial to firm performance?
The study based on Ohlson’s valuation model is used with Time-series/cross-section pooling regression. The study use industry mean R&D intensity as proxy for industry effects, and firm’s R&D intensity as proxy for firm effects. There are empirical findings: (1) R&D intensities are positively related with abnormal earnings in the current year. (2) R&D intensities are correlated with abnormal earnings in the future year.
The evidence suggests that the positive effect on earnings persistence will be caused by R&D’s intensities. Firms with higher R&D activities have more abnormal earnings. While industry R&D investment leads to competition mitigation., a firm’s own investment in R&D differentiates its products from of its competitors. Firms in industry have abnormal earnings. And the result of this study shows that the effect of R&D expense with the quality of time lag is beneficial to firm performance.
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