Value-Creating Potentials and Attendant Risks for R&D Portfolios

被引：0
|
作者：
Lee, Hwey-chyi [1 ]
Ouyang, Lishu [2 ]
机构：
[1] Chang Jung Christian Univ, Dept Finance, Tainan, Taiwan
[2] Chinese Culture Univ, Dept Econ, Taipei, Taiwan
来源：
2008 IEEE INTERNATIONAL CONFERENCE ON MANAGEMENT OF INNOVATION AND TECHNOLOGY, VOLS 1-3 | 2008年
关键词：
EVA; R&D; Risk; Sensitivity Analysis;
D O I：
10.1109/ICMIT.2008.4654540
中图分类号：
C93 [管理学];
学科分类号：
12 ; 1201 ; 1202 ; 120202 ;
摘要：
The purpose of this study is to investigate the trade-off relationship between value creation (characterized by EVA) and attendant risks for R&D portfolios. The empirical data include 485 manufacturing and high tech Taiwanese firms during the years 2004 to 2007. Empirical results indicate that the percentage changes of EVA are sensitive to the time horizons used in amortized R&D capital and also found that the results are highly sensitive to firms with high R&D intensities.
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页码：1199 / +
页数：2
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