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http://hdl.handle.net/10419/19621
  

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dc.contributor.authorRamb, Freden_US
dc.contributor.authorReitzig, Markusen_US
dc.date.accessioned2009-01-28T16:01:31Z-
dc.date.available2009-01-28T16:01:31Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/19621-
dc.description.abstractOn the basis of accounting and market data for firms and groups listed on German stock exchanges between 1997 and 2003, we show that the value relevance of R&D information under German accounting standards can be superior to that provided by US-GAAP and IAS. The results, obtained while dynamically controlling for partial freedom of firms to choose a standard in a modified Q model, show that the risk of IAS/US-GAAP misinforming investors during "bear market" periods is more relevant than their comparative advantage over the prudence principle of the German Commercial Code in "bull market" periods. Using the approach chosen for this study, it is possible not only to draw a clear dividing line between standard and selection effects but also to disentangle them along theoretical lines more clearly than in earlier studies.en_US
dc.language.isoengen_US
dc.relation.ispartofseriesDiscussion paper Series 1 / Volkswirtschaftliches Forschungszentrum der Deutschen Bundesbank 2005,36en_US
dc.subject.jelK11en_US
dc.subject.jelM41en_US
dc.subject.jelD82en_US
dc.subject.jelM40en_US
dc.subject.ddc330en_US
dc.subject.keywordAccounting standardsen_US
dc.subject.keywordstandard selectionen_US
dc.subject.keywordR&Den_US
dc.subject.keywordvalue relevanceen_US
dc.subject.keywordGermanyen_US
dc.subject.stwIndustrielle Forschungen_US
dc.subject.stwBerichtswesenen_US
dc.subject.stwInformationswerten_US
dc.subject.stwBilanzrechten_US
dc.subject.stwVergleichen_US
dc.subject.stwDeutschlanden_US
dc.subject.stwUSAen_US
dc.subject.stwWelten_US
dc.titleComparing the value revelance of R&D reporting in Germany: standard and selection effectsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn500982627en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
dc.identifier.repecRePEc:zbw:bubdp1:4230-
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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