Ho, Li-Chin; Liu, Chao-Shin; Schaefer, Thomas - In: Review of Quantitative Finance and Accounting 28 (2007) 3, pp. 307-326
searches exceeds the benefit, analysts’ forecast revisions may decrease. Our results show a positive relation between R …&D expenses and analysts’ forecast revision activity. We also find a positive and significant association between the level of R …&D expenses and the magnitude of analysts’ forecast revisions following quarterly announcements. These results point to a greater …