Nguyen, Pascal; Nivoix, Sophie; Noma, Mikiharu - In: Accounting and Finance 50 (2010) 4, pp. 899-920
The difficulty to measure the long-term benefits of R&D expenditures and the distortions induced by R&D accounting suggest that R&D-intensive firms could be undervalued. Using several methods commonly applied to detect the abnormal returns associated with mispricing, we find little evidence that...