| Titre : |
How do R&D investments impact stock return? |
| Type de document : |
Mémoire |
| Auteurs : |
Josselin DREAN, Auteur |
| Année de publication : |
2022 |
| Importance : |
33 p. |
| Note générale : |
Pour accéder aux fichiers PDF, merci de vous identifier sur le catalogue avec cotre compte Office 365 via le bouton CONNEXION en haut de la page. |
| Langues : |
Anglais (eng) |
| Mots-clés : |
Management
RECHERCHE ET DEVELOPPEMENT ; ACTION
|
| Résumé : |
The price of a share changes over time according to investors' expectations. To predict pricevariations on the markets, the investors try to anticipate the future value of the company andobserve the capabilities the company has, to perform in the long run. In this way, one of the keys available to the company to remain competitive is R&D spendings, aimed at innovation(coming back to Schumpeter’s theory). Therefore, if R&D investments impact the company’s growth prospects, and if these growth prospects impact the stock return, the importance of company R&D investments’ influence on its stock return is being questioned. We will therefore observe how R&D investments, and more particularly R&D intensity, influence the stock return. we will first review the literature, which develops the idea that two phenomena participate in explaining the R&D anomaly. These two phenomena are the risk investors bear while supporting R&D spendings, and the mispricing phenomenon resulting from mistakes noise traders do on the markets. Then, we will see how the impact of R&D over the Stock Return can vary following company’s size, nationality, and sector. Finally, we will develop the great importance of investors’ behavioural factors in linking R&D spendings and a positive stock return |
| Programme : |
PGE-Reims |
| Permalink : |
https://cataloguelibrary.neoma-bs.fr/index.php?lvl=notice_display&id=571575 |
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How do R&D investments impact stock return? / 2022 
