The aim of this paper is to identify the different role of financial funds in traditional and R&D investments in Italian firms. Given its intrinsic characteristics, R&D is usually characterized by high information opacity and thus implies, coherently with the asymmetric information theory,...

Almost all studies on research and development (R&D) activity are based on US and British companies, and most of them show that this activity positively influences both stock returns and corporate value. This empirical study evaluates the effects of R&D on stock returns for a sample of listed...

Almost all studies on research and development (R&D) activity are based on US and British companies, and most of them show that this activity positively influences both stock returns and corporate value. This empirical study evaluates the effects of R&D on stock returns for a sample of listed...