Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/19621 
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dc.contributor.authorRamb, Freden
dc.contributor.authorReitzig, Markusen
dc.date.accessioned2009-01-28T16:01:31Z-
dc.date.available2009-01-28T16:01:31Z-
dc.date.issued2005-
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
dc.language.isoengen
dc.publisher|aDeutsche Bundesbank |cFrankfurt a. M.en
dc.relation.ispartofseries|aDiscussion Paper Series 1 |x2005,36en
dc.subject.jelK11en
dc.subject.jelM41en
dc.subject.jelD82en
dc.subject.jelM40en
dc.subject.ddc330en
dc.subject.keywordAccounting standardsen
dc.subject.keywordstandard selectionen
dc.subject.keywordR&Den
dc.subject.keywordvalue relevanceen
dc.subject.keywordGermanyen
dc.subject.stwIndustrielle Forschungen
dc.subject.stwBerichtswesenen
dc.subject.stwInformationswerten
dc.subject.stwBilanzrechten
dc.subject.stwVergleichen
dc.subject.stwDeutschlanden
dc.subject.stwUSAen
dc.subject.stwWelten
dc.titleComparing the value revelance of R&D reporting in Germany: standard and selection effects-
dc.typeWorking Paperen
dc.identifier.ppn500982627en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:zbw:bubdp1:4230en

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