Chin, Chen-Lung; Lee, Picheng; Kleinman, Gary; Chen, Pei-Yu - In: Review of Quantitative Finance and Accounting 27 (2006) 1, pp. 67-91
Innovation capital are typically expensed and/or unrecognized as assets under current generally accepted accounting principles. This results in accounting-related information asymmetry. This paper examines the association of innovation capital (as measured here by the proxies of R&D expenditures...