The size, concentration and evolution of corporate R&amp;D spending in U.S. firms from 1976 to 2010: Evidence and implications

Hirschey, Mark; Skiba, Hilla; Wintoki, M. Babajide

doi:10.1016/j.jcorpfin.2012.02.002

Cited by 84 publications

(36 citation statements)

References 18 publications

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“…The relationship between top managers' attributes and firm performance has been studied In reference to the developed financial markets, we find that managers in many US industries are willing to commit a significant and growing share of earnings to R&D investments for potential long-term growth (Hirschey et al, 2012). In Britain, Keeble (1997) finds that SMEs with a better record of continuing innovation and higher R&D intensity grow faster.…”

Section: Effect Of Managerial Characteristics On Firm Valuementioning

confidence: 98%

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Effects of Social Capital, Top Executive Attributes and R&D on Firm Value in Chinese Small and Medium‐sized Enterprises

Qiao

Fung

2013

China and World Economy

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This study uses an unbalanced panel data analysis to examine the effects of social capital, top executive attributes and R&D on firm value in Chinese small and medium-sized enterprises (SMEs) listed on the Shenzhen Stock Exchange Small and Medium-sized Enterprises Board from 2007 to 2011. There are several interesting findings. First, the gender (male) and academic degree of the chairperson in the SMEs have a positive and significant effect on firm value. Second, social capital (measured by political connections, managerial business association networks and technology association networks) and R&D have a positive effect on SME firm value. Third, the effect of political connections on firm value for state-owned enterprises (SOEs) is stronger than for non-SOEs, while the effect of business and technology networks on firm value for non-SOEs is stronger than for SOEs. Our study has important policy implications for SMEs that want to compete successfully in China.

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Section: Effect Of Managerial Characteristics On Firm Valuementioning

confidence: 98%

“…SMEs engage in more R&D activity than larger firms, which gives rise to innovation. As these firms increase their market share, their financial performance improves (Doong et al, 2011;Hirschey et al, 2012). There is limited research on R&D by SMEs in China.…”

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confidence: 99%

Effects of Social Capital, Top Executive Attributes and R&D on Firm Value in Chinese Small and Medium‐sized Enterprises

Qiao

Fung

2013

China and World Economy

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“…The mean and median for asset growth, incremental PPE and capital expenditure are all positive for our sample, at levels of 16.27% and 7.08%, 3.85% and 1%, and 0.8% and 0.2%, respectively. We treat firms with missing information on R&D as having zero expenses of R&D, consistent with previous literature (Brown and Petersen ; Hirschey et al ). The mean of incremental R&D investment is 0.46% and the median is 0.…”

Section: Datamentioning

confidence: 99%

Does Geographic Proximity Change the Passiveness of Equity Ownership by Bank Trust?

Chang

2018

Int Rev Finance

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We provide evidence that while concentrated bank trust ownership is passive with distant firms, it is nonpassive with local firms and reduce their risk‐taking. Concentrated local bank trust ownership is associated with (i) lower future firm equity beta and (ii) less uncertain corporate policies. The results cannot be explained by private information alone, are not driven by local bank trusts as a mixed debt‐equity holder, and are robust to various tests for endogeneity. We also explore channels through which local bank trusts could exert their influence, including their stabilizing function during crisis periods and joining force with local independent directors.

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“…But nevertheless, all issues are not yet resolved, especially practical ones. While writing this article we mainly relied on contemporary literature dealing with the problems of depreciation with special reference to trade (Berman, 2010;Levy, 2007;Lukic, 2011;Lukic, 2015a,b) and particularly published in prestigious international journals (Cole, 2015;Cornile, 2011;Crosby, 2012;Görzig, 2007;Hirschey, 2012;Lennhoff, 2014, Lukic, 2012Lukic, 2014;Lukic, 2015a,b;Lukic, 2016;Shin, 2014), and studies (Asian Retail Sector -DBS; Cost Segregation Analysis; Deloitte: International Financial Reporting Standards -Considerations for the Retail Industry, Retail Operations -Six success factors for a tough market). All relevant information from these and other literature were used as a theoretical-methodological and empirical basis for such complex analysis of the problems treated in this paper.…”

Section: Introductionmentioning

confidence: 99%

The impact of depreciation expense on performance of trade in Serbia

Lukić¹,

Hanić²,

Hanić³

2016

Int Rev

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Large retail chains conduct intensive replacement of old technology with new, more efficient one, especially in the field of energy, and in accordance with the application of the concept of sustainable development in business. These changes affect depreciation expenses and profits. Due to this, in this paper we will primarily research the dynamics of depreciation expenses and their impact on profit in sales of US, Japan, European Union, Russia, with special insight into Serbia based on original collected data. In order to thoroughly process given issues, numerous cases from practice were analyzeddepreciation of retail companies from different countries, especially the developed market economies. Presented methodological approach (comparative analysis, ratio analysis, descriptive statistics, correlation analysis, case studies) and research results(especially to point out the significance of continuous complex analysis of all relevant angles) should serve as a basis for more efficient management of depreciation expenses in modern trade.

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The size, concentration and evolution of corporate R&D spending in U.S. firms from 1976 to 2010: Evidence and implications

Cited by 84 publications

References 18 publications

Effects of Social Capital, Top Executive Attributes and R&D on Firm Value in Chinese Small and Medium‐sized Enterprises

Effects of Social Capital, Top Executive Attributes and R&D on Firm Value in Chinese Small and Medium‐sized Enterprises

Does Geographic Proximity Change the Passiveness of Equity Ownership by Bank Trust?

The impact of depreciation expense on performance of trade in Serbia

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