Corporate Financial Policy And R&D Management

 Excerpt  :

The establishment of the R&D decision as a financial decision lead one to ask how the marketplace values and assesses the firm’s R&D expenditures, ” Corporate Financial Policy And R&D Management “.

A multifactor risk model analysis allows one to establish a statistically significant relationship between R&D expenditures and increases in stockholder wealth. R&D enhances stockholder wealth, particularly for larger capitalized firms.

The author would like to thank several co-authors of studies that serve as the basis of several chapters in this text: Al Bean, formerly of Lehigh University, and Steven Andrews, of the Bureau of the Census, worked with the author on econometric modeling of the R&D decision; Andrew Mark, of Globe Flex Capital Management, worked with the author on the R&D and stockholder wealth analysis; John Blin and Steve Bender of APT, a Wall Street firm specializing in risk management; Bernell Stone, of Brigham Young University; and Mustafa Gultekin, of the University of North Carolina.

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