A Importância da I&D e da Variedade de Capitalismo na Capitalização em Bolsa: Evidência Econométrica das Maiores Empresas Europeias em 2008

Importance of R&D and Variety of Capitalism in Market Capitalization: Econometric Evidence from the Major European Companies in 2008

Vitor Gonçalves and Hugo Pinto

MPRA Paper from University Library of Munich, Germany

Abstract: The article discusses the factors influencing the market capitalization of a company. Using data on the thousand largest companies in Europe, taken from the 2009 EU Industrial R&D Investment Scoreboard, the analysis focuses on the impacts of net sales value of each company, investment in research and development and the number of employees in the valuation of the company in the stock markets. In parallel, there is also tested how the institutional architecture of an economy affects the capitalization of companies in financial markets. The linear regression model estimated suggests the central importance of sales but indicates that the R&D also impacts in the phenomenon studied. Firm size has a negligible explanatory power. There is evidence that companies from liberal market economies have higher growth rates in financial markets.

Keywords: Capitalization; R&D; Varieties of Capitalism, Regression Analysis (search for similar items in EconPapers)
JEL-codes: C2 L1 O3 (search for similar items in EconPapers)
Date: 2010-10-30, Revised 2010-10-30
New Economics Papers: this item is included in nep-ino
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/27192/1/MPRA_paper_27192.pdf original version (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:27192

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter (winter@lmu.de).