Are Investor Reactions to R&D Influenced by the Corporate Headquarter's Location?

This study provides evidence that investors react differently to R&D (line item) information according to the disclosure regimes of a firm's headquarters-country. The stock market response is significantly lower for R&D information from code law countries (continental Europe) than for c...

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Bibliographic Details
Published inReview of quantitative finance and accounting Vol. 18; no. 1; pp. 5 - 19
Main Authors Swanson, Zane L, Singer, Robert
Format Journal Article
LanguageEnglish
Published New York Springer Nature B.V 01.01.2002
Subjects
Accounting
Asset valuation
Assets
Disclosure
Enterprises
Expenditures
Finance
Financial statements
Growth models
Growth stocks
Investments
Investors
Location of enterprises
Pricing policies
R&D
Research & development
Research & development expenditures
Research and development
Securities markets
Stock exchanges
Strategic management
Studies
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Summary:This study provides evidence that investors react differently to R&D (line item) information according to the disclosure regimes of a firm's headquarters-country. The stock market response is significantly lower for R&D information from code law countries (continental Europe) than for common law countries (such as Britain). [PUBLICATION ABSTRACT]
Bibliography:ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0924-865X
1573-7179
DOI:10.1023/A:1013883126643