Branch, Ben; Chichirau, Cosette - In: International Review of Financial Analysis 19 (2010) 5, pp. 358-367
We utilize the NBER's patent database to reevaluate relationships between R&D on the one hand and firm fundamentals and stock returns on the other. Patent counts and patent citations are used to measure R&D quantity and quality respectively. Our R&D variables are all positively associated with...