Chiu, Wan-Chien; Jagannathan, Ravi; Tseng, Kevin - National Bureau of Economic Research - 2023
1976-2020. The estimated depreciation rates for intangible assets created by capitalizing R&D and SG&A expenditures … product market threats and have higher markups, whereas firms with higher reproducible intangible assets face higher threats …We decompose the difference between a firm's market value and book value into two components: reproducible intangible …