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    政大機構典藏 > 商學院 > 財務管理學系 > 期刊論文 >  Item 140.119/117567
    Please use this identifier to cite or link to this item: http://nccur.lib.nccu.edu.tw/handle/140.119/117567


    Title: R&D Increases and Long‐Term Performance of Rivals
    Authors: 陳聖賢
    Chen, Sheng-Syan
    Hung, Weifeng
    Wang, Yanzhi
    Contributors: 財管系
    Keywords: R&D;spillover;intra-industry
    Date: 2014
    Issue Date: 2018-06-11 17:59:15 (UTC+8)
    Abstract: We examine how a firm's research and development (R&D) increases affect its intra‐industry competitors in the long run. Consistent with the R&D spillover hypothesis, when a firm unexpectedly increases its R&D spending, its intra‐industry competitors experience improvements in operating performance and analyst forecast revisions and earn positive abnormal stock returns in the long run. The industry concentration, which is related to the firm's strategic reaction, is crucial in determining the magnitude of the R&D spillover effect.
    Relation: Financial Review, Vol.49, No.4, pp.765-792
    Data Type: article
    DOI 連結: http://dx.doi.org/10.1111/fire.12056
    DOI: 10.1111/fire.12056
    Appears in Collections:[財務管理學系] 期刊論文

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