東華大學圖書館 |

Language: English

Help

回圖書館首頁

手機版館藏查詢

Back

Switch To: Labeled | MARC Mode | ISBD

The stock market value of research a...

Kim, Daehwan.

Linked to FindBook

Google Book

Amazon

博客來

The stock market value of research and development assets.

Record Type:	Electronic resources : Monograph/item
Title/Author:	The stock market value of research and development assets./
Author:	Kim, Daehwan.
Description:	101 p.
Notes:	Source: Dissertation Abstracts International, Volume: 61-05, Section: A, page: 1954.
Contained By:	Dissertation Abstracts International61-05A.
Subject:	Economics, General. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9972350
ISBN:	0599776595

The stock market value of research and development assets.
Kim, Daehwan.

The stock market value of research and development assets. - 101 p.

Source: Dissertation Abstracts International, Volume: 61-05, Section: A, page: 1954.

Thesis (Ph.D.)--Harvard University, 2000.

B. H. Hall (1993a, 1993b) reported a substantial drop in the market price of R&D investment relative to that of ordinary investment during the 1980s, particularly in the electronics and computing sector. In Chapter 1, we take another look at the valuation problem, using data on a large panel of manufacturing firms through 1998. Although we confirm the earlier decline in relative market values, we find that its magnitude is quite sensitive to methods of measurement and we propose some more robust methods for determining the hedonic price of corporate assets.

ISBN: 0599776595Subjects--Topical Terms:

1017424
Economics, General.

The stock market value of research and development assets.
LDR:02531nmm 2200325 4500 001 1862007
005 20041215074547.5
008 130614s2000 eng d
020 $a 0599776595
035 $a (UnM)AAI9972350
035 $a AAI9972350
040 $a UnM $c UnM
100 1 $a Kim, Daehwan. $3 889302
245 1 4 $a The stock market value of research and development assets.
300 $a 101 p.
500 $a Source: Dissertation Abstracts International, Volume: 61-05, Section: A, page: 1954.
500 $a Advisers: Dale Jorgenson; Bronwyn H. Hall; Jack Porter.
502 $a Thesis (Ph.D.)--Harvard University, 2000.
520 $a B. H. Hall (1993a, 1993b) reported a substantial drop in the market price of R&D investment relative to that of ordinary investment during the 1980s, particularly in the electronics and computing sector. In Chapter 1, we take another look at the valuation problem, using data on a large panel of manufacturing firms through 1998. Although we confirm the earlier decline in relative market values, we find that its magnitude is quite sensitive to methods of measurement and we propose some more robust methods for determining the hedonic price of corporate assets.
520 $a Chapter 2 proposes a new index of expected stock returns called the multi-asset beta. Multi-asset beta explicitly accounts for intangible capital such as accumulated research and development and advertising. Using multi-asset beta calculated from U.S. stock market data from 1973 to 1997, this study reports two findings. First, the expected stock return to intangible capital has increased for the last decade. Second, the intangible capital explains a substantial amount of the cross-firm variation in expected stock returns.
520 $a Chapter 3 proposes a simple model of R&D capital, and presents estimates of the model for publicly traded US manufacturing firms for the time period from 1981 to 1995. The focus of the chapter is on how the contribution of an asset to capital changes as the technology embodied in the asset ages. It is shown that the profile of such contribution is approximately geometric, and the geometric rate has been lowered in recent period.
590 $a School code: 0084.
650 4 $a Economics, General. $3 1017424
650 4 $a Economics, Finance. $3 626650
690 $a 0501
690 $a 0508
710 2 0 $a Harvard University. $3 528741
773 0 $t Dissertation Abstracts International $g 61-05A.
790 1 0 $a Jorgenson, Dale, $e advisor
790 1 0 $a Hall, Bronwyn H., $e advisor
790 1 0 $a Porter, Jack, $e advisor
790 $a 0084
791 $a Ph.D.
792 $a 2000
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=9972350