that the firm has an incentive to mismatch the benefits and costs of R&D, expensing a larger portion of R&D when the … accounting policy reduces expensing. An increase in the discount factor, although having a negative direct effect on expensing … changes on innovation and their interactions with expensing are also derived. One major result of the model is that there is …

and expensing. Accounting standards, market evaluation of capitalization, and firms¡¦ accounting policies can have real … mismatch the benefits and costs of R&D, expensing a larger portion of R&D when the benefits occur in the long-run and …

and expensing. Accounting standards, market evaluation of capitalization, and firms’ accounting policies can have real … mismatch the benefits and costs of R&D, expensing a larger portion of R&D when the benefits occur in the long-run and …