An examination of long-term abnormal stock returns and operating performance following R & D increases

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An examination of long-term abnormal stock returns and operating performance following R & D increases

Eberhart, Allan C - ; Maxwell, William F - ; Siddique, Akhtar, R - ;

We examine a sample of 8,313 cases, between 1951 and 2001, where firms unexpectedly increase their research and development ( R & D ) expenditures by a significant amount. We find consistent evidence of a misreaction, as manifested in the significantly positive abnormal stock returns that our sample firms' shareholders experience following these increases. We also find consistent evidence that our sample firms experience significantly positive long-term abnormal operating performance following their R & D increases..Printed Journal

Ketersediaan

Call Number	Location	Available
	PSB lt.dasar - Pascasarjana	1

Penerbit	The American Finance Association.,
Edisi	-
Subjek	-
ISBN/ISSN	00221082
Klasifikasi	-
Deskripsi Fisik	-
Info Detail Spesifik	-
Other Version/Related	Tidak tersedia versi lain
Lampiran Berkas	Tidak Ada Data