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Can R&D Expenditures Affect Firm Market Value? An Empirical Analysis of a Panel of European Listed Firms

In: Bank Performance, Risk and Firm Financing

Author

Listed:
  • Andi Duqi
  • Giuseppe Torluccio

Abstract

The market valuation of R&D expenditures or, in a more general context, the valuation of intangibles is a particularly interesting issue for researchers. Unfortunately, the evaluation of this type of investment is also difficult, and studies are divided on the methods of this process and its incorporation into stock prices.

Suggested Citation

  • Andi Duqi & Giuseppe Torluccio, 2011. "Can R&D Expenditures Affect Firm Market Value? An Empirical Analysis of a Panel of European Listed Firms," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Philip Molyneux (ed.), Bank Performance, Risk and Firm Financing, chapter 10, pages 215-241, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-0-230-31387-3_11
    DOI: 10.1057/9780230313873_11
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    Citations

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    Cited by:

    1. Bongsuk Sung & Woo-Yong Song, 2017. "Does Dynamic Efficiency of Public Policy Promote Export Prformance? Evidence from Bioenergy Technology Sector," Energies, MDPI, vol. 10(12), pages 1-18, December.
    2. Laura Cabeza-García & Esther B. Brío & Carlos Rueda, 2021. "The moderating effect of innovation on the gender and performance relationship in the outset of the gender revolution," Review of Managerial Science, Springer, vol. 15(3), pages 755-778, April.
    3. Yang Ding & Gang Chen, 2022. "How Do Innovation-Driven Policies Help Sports Firms Sustain Growth? The Mediating Role of R&D Investment," Sustainability, MDPI, vol. 14(23), pages 1-21, November.
    4. Bongsuk Sung & Myung-Bae Yeom & Hong-Gi Kim, 2017. "Eco-Efficiency of Government Policy and Exports in the Bioenergy Technology Market," Sustainability, MDPI, vol. 9(9), pages 1-18, September.
    5. Darya Dancaková & Jakub Sopko & Jozef Glova & Alena Andrejovská, 2022. "The Impact of Intangible Assets on the Market Value of Companies: Cross-Sector Evidence," Mathematics, MDPI, vol. 10(20), pages 1-14, October.
    6. duqi, andi & mirti, riccardo & torluccio, giuseppe, 2011. "An analysis of the R&D effect on stock returns for European listed firms," MPRA Paper 40012, University Library of Munich, Germany.
    7. Rossi, Matteo & Mardini, Ghassan H. & Kyriakidou, Niki & Festa, Giuseppe, 2023. "The impact of corporate performance on innovation management: Empirical evidence from emerging Asian economies," Journal of International Management, Elsevier, vol. 29(6).

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