Yeh, Yin-Hua; Shu, Pei-Gi; Ho, Fu-Sheng; Su, Yu-Hui - In: Review of Pacific Basin Financial Markets and Policies … 15 (2012) 02, pp. 1250011-1
The main purpose of this paper is to investigate how investors perceive and respond to a firm's R&D announcement. We propose that board structure and intra-industry competition jointly dictate the announcement return. In addition, we assume that investors prefer carefully scrutinized R&D...