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Relevância informativa das Despesas de Investigação e Desenvolvimento: um estudo para o caso português

Author

Listed:
  • Ana Cunha

    (Faculdade de Economia da Universidade do Porto)

  • José Moreira

    (Faculdade de Economia da Universidade do Porto/CEF.UP)

Abstract

This study tests the value relevance of R&D expenses for the Portuguese context. The methodology adopted is based on econometric models, and takes into consideration the kind of information companies display and the adoption of IASB accounting standards in 2005. The empirical evidence suggests that investors value positively R&D information, most especially when it is quantitative and relates to the capitalisation of such expenses. Their value relevance is less obvious when the information is qualitative, and vanishes completely when both types of information are considered simultaneously in the models. The change in the accounting environment in 2005 seems to affect the empirical evidence. It suggests that a higher restrictiveness of IASB standards on concerning the capitalization of R&D justifies the increase in the value relevance of the expenses capitalized in 2005 and afterwards.

Suggested Citation

  • Ana Cunha & José Moreira, 2010. "Relevância informativa das Despesas de Investigação e Desenvolvimento: um estudo para o caso português," Notas Económicas, Faculty of Economics, University of Coimbra, issue 31, pages 06-23, June.
    • Handle: RePEc:gmf:journl:y:2010:i:31:p:06-23
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • G12 - Financial Economics - - General Financial Markets - - - Asset Pricing; Trading Volume; Bond Interest Rates

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