EBERHART, ALLAN; MAXWELL, WILLIAM; SIDDIQUE, AKHTAR - In: Journal of Accounting Research 46 (2008) 1, pp. 27-52
<heading id="h1" level="1" implicit="yes" format="display">ABSTRACT</heading>Many previous studies document a positive relation between research and development (R&D) and equity value. Though R&D can increase equity value by increasing firm value, it can also increase equity value at the expense of bondholder wealth through an increase in firm risk because equity...
