Pertinence de l’inscription à l’actif des frais de R&D: une étude empirique

Anne Cazavan-Jeny and Thomas Jeanjean

ACCRA, 2005, vol. 11, issue 1, 5-21

Abstract: Accounting for successful R&D efforts is still controversial among regulators. In this article, we test the value relevance of R&D reporting on a sample of 93 French firms on a three years period (1998-2000). Empirical findings suggest that capitalized R&D is negatively associated with stock prices and stock returns. Contrary to previous studies, R&D accounting seems to act as a negative signal to investors in France.

Keywords: R&D; capital markets; value relevance; accounting choice (search for similar items in EconPapers)
Date: 2005
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Working Paper: Pertinence de l'inscription à l'actif des frais de R1D: une étude empirique (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:cai:accafc:cca_111_0005

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