This study investigates the lead-lag structure between the Ramp;D investments and market values in countries with different financial systems. The purpose of the study is to examine whether the leading period market values are stronger associated with Ramp;D investments in countries with...

This paper investigates the economic determinants of the Ramp;D economic asset of the firm estimated from past information of Ramp;D expenditures. The study applies the cost basis framework, earlier used for instance by Chan et al. (2001) and Chambers et al. (2001) to estimate the proportion of...

This study investigates the effects of a country's financial system on current R&D investments and the future profitability of the firm. My paper explores the association between R&D investments and the firms' future profitability in different financial environments. Empirical results from 10...

This paper investigates a firm's investments in research and development (R&D) capital in different financial systems. This study examines both country-specific and firm-specific factors in the creation of a firm's R&D capital. The economic relevance of the estimated R&D capital in different...