The impact of value-relevant accounting rules on innovative activities

被引：4

作者：

Lin, Hsuan-Chu ^{[1
]}

Chien, Chin-Chen ^{[1
]}

Chiu, She-Chih ^{[1
]}

机构：

[1] Natl Cheng Kung Univ, Dept Accounting, 1 Univ Rd, Tainan 7011, Taiwan

来源：

R & D MANAGEMENT | 2016年 / 46卷 / 05期

关键词：

RESEARCH-AND-DEVELOPMENT; DEVELOPMENT EXPENDITURES; INTANGIBLE ASSETS; RISK-TAKING; MANAGEMENT; ORGANIZATIONS; ASSOCIATION; INFORMATION; TECHNOLOGY; VALUATION;

D O I：

10.1111/radm.12143

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The purpose of this paper is to examine the impact of value-relevant accounting rules on corporate innovative activities. Using US data from 1972 to 2012, we find that value-relevant accounting rules help innovative companies to reduce R&D funding gaps, which is conducive to companies' innovative activities and potential long-term benefits. However, a higher risk premium is required by shareholders of innovative companies. Additionally, we find not only that R&D spending is more sensitive to future earnings variability as compared to that occurring commercial intellectual properties and physical assets, but we also find that managers contracted with long-term compensation plans have greater incentives to engage in innovative activities when value-relevant accounting rules set in. Overall, we provide evidence on alleviation of information asymmetry between innovative companies and their lenders when accounting information is more value relevant.

引用

页码：872 / 886

页数：15

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