This paper was presented at the conference "Economic Statistics: New Needs for the Twenty-First Century," cosponsored by the Federal Reserve Bank of New York, the Conference on Research in Income and Wealth, and the National Association for Business Economics, July 11, 2002. Intangible assets...

We focus in this study on the exogenous event of the enactment of American Inventor’s Protection Act of 1999 (AIPA), which disseminates timely, detailed, and credible public information on R&D activities through pre-grant patent disclosures. Exploiting the staggered timing of patent...

The continued growth of intangible investments is the hallmark of developed economies, initiating significant changes in the business models, strategies and performance of business enterprises. Accounting standard‐setters, however, by and large, are oblivious to this world‐wide development....

We examine the value relevance of accounting-driven losses that result from the immediate expensing of firms’ internally-generated intangible investments vs. losses occurring irrespective of intangible investments. Contrary to the long-held view that losses are irrelevant for valuation, we...

We conduct a fundamental analysis of detailed financial information to predict earnings. Since 2012, all U.S. public companies must tag quantitative amounts in financial statements and footnotes of their 10-K reports using the eXtensible Business Reporting Language (XBRL). Leveraging machine...

Corporate sustainability can be broadly defined as the pursuit of a business growth strategy by allocating financial or in-kind resources of the corporation to a social or environmental initiative. Today, more than ever, corporate sustainability has risen to the status of strategic business...