{"product_id":"r-d-effect-von-elissavet-stergiaki","title":"R\u0026D Effect","description":"\u003cp\u003eThe last 20 years, it was observed an unprecedented growth of R\u0026amp;D investment in many developed economies. This growth of R\u0026amp;D investment provided an ideal opportunity for researchers to consider the relation between R\u0026amp;D expenditures and subsequent earnings and more specifically the reflection of the market stock price in the value of R\u0026amp;D investments. The purpose of the research is to study if the association between R\u0026amp;D expenditures and the market stock price is due to a systematic mispricing or due to other omitted risk factors and if the immediate expensing of R\u0026amp;D is conservative or aggressive, relative to reporting under R\u0026amp;D capitalization. For that purpose, a sample of IT, Pharmaceutical and Telecommunication firms listed on Athens Stock Exchange (ASE) has been selected. These firms have a complete monthly stock return history to provide unbiased connection between earnings changes and excess returns. Finally,it is important to examine how the adoption of Financial Reporting Standards (IFRS) affects R\u0026amp;D expenses.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783639864410\"\u003e\u003ch3\u003e\u003c\/h3\u003e\u003c\/div\u003e","brand":"Libri","offers":[{"title":"Softcover - 9783639864410","offer_id":39440467656797,"sku":"9783639864410","price":45.9,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/048e4896-8f17-448b-9bdf-b04931e73049.jpg?v=1757738458","url":"https:\/\/shop.autorenwelt.de\/products\/r-d-effect-von-elissavet-stergiaki","provider":"Autorenwelt Shop","version":"1.0","type":"link"}