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Comparing the value revelance of R&D reporting in Germany: standard and selection effects

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dc.creator Ramb, Fred
dc.creator Reitzig, Markus
dc.date 2005
dc.date.accessioned 2013-10-16T07:05:56Z
dc.date.available 2013-10-16T07:05:56Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19621
dc.identifier ppn:500982627
dc.identifier RePEc:zbw:bubdp1:4230
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19621
dc.description On the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of R&D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while dynamically controlling for partial freedom of firms to choose a standard in a modified Q model, show that the risk of IAS/US-GAAP misinforming investors during "bear market" periods is more relevant than their comparative advantage over the prudence principle of the German Commercial Code in "bull market" periods. Using the approach chosen for this study, it is possible not only to draw a clear dividing line between standard and selection effects but also to disentangle them along theoretical lines more clearly than in earlier studies.
dc.language eng
dc.relation Discussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,36
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject K11
dc.subject M41
dc.subject D82
dc.subject M40
dc.subject ddc:330
dc.subject Accounting standards
dc.subject standard selection
dc.subject R&D
dc.subject value relevance
dc.subject Germany
dc.subject Industrielle Forschung
dc.subject Berichtswesen
dc.subject Informationswert
dc.subject Bilanzrecht
dc.subject Vergleich
dc.subject Deutschland
dc.subject USA
dc.subject Welt
dc.title Comparing the value revelance of R&D reporting in Germany: standard and selection effects
dc.type doc-type:workingPaper


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