Xu, Bixia - In: Review of Quantitative Finance and Accounting 26 (2006) 4, pp. 391-408
I investigate the effects of R&D progress on the dynamics of stock price volatility and the post announcement drift to … provide insights into whether or not and how capital markets react to corporate R&D progress in the context of the biotech … industry. I find both stock price volatility and the post announcement drift decrease in R&D progress. More importantly, the …
