While aggregate earnings should affect aggregate stock returns, standard portfolio theory predicts that the cross-sectional dispersion in firm-level earnings would not affect aggregate stock returns. Nonetheless, this paper demonstrates a surprisingly robust relation between cross-sectional...

This paper studies the effects of capacity utilization on accounting profit margins and stock returns. Since accounting profit margins represent the average profit per unit and not the economists' concept of unit contribution margin, the marginal/variable profit per unit, a firm with idle...

This research has investigated factors that affect the successful commercialization of intellectual capital. The concept of social constructs of meaning for the interview participants provides the fundamental perspective of this research. The research was undertaken on the basis of a...

Purpose € The purpose of this paper is to explore the degree to which intangible resources explain performance variation among firms.

How do private returns to inventive activity change when IPR regimes are substantially strengthened? Our paper investigates this question by looking at the impact of patent reforms in India on India-based pharmaceutical companies. In a fundamental policy shift, India agreed to introduce product...

Agricultural biotechnology firms are high technology companies. Firms in general, and high technology firms in particular, are a set of both assets in place and growth opportunities. This has important implications for managerial decision-making. Knowledge capital motivates exploitation of...

We examine whether firms that capitalize a higher proportion of their underlying intangible assets have higher analyst following, lower dispersion of analysts’ earnings forecasts and more accurate earnings forecasts relative to firms that capitalize a lower proportion. Under Australian...

This thesis attempts to analyze a part of the big and complex process of how intellectualproperty ownership and technological innovation influence the performance of firms andtheir revenues. Here I analyze a firm's stock market performance as a function of thequantity and quality of intellectual...