We investigate the relationship between research and development expenditures and the market value of European listed companies that continuously implemented R&D over the 2001-2007 period. According to the theory of efficient financial markets, investors should correctly value tangible and...

We investigate the relationship between research and development expenditures and the market value of European listed companies that continuously implemented R&D over the 2001-2007 period. According to the theory of efficient financial markets, investors should correctly value tangible and...

We document time varying investor sentiment for corporate social responsibility (“CSR”) performance. We show that announcements of CSR activities generate positive abnormal returns during periods when investors place a valuation premium on CSR performance. In addition, we find that firms...

This paper provides some new theoretical speculations and empirical evidence on the relationship between design, innovation and economic performance at the firm level. We posit that design investments may provide firms with a higher capacity of introducing product/process innovations, but that...

This paper empirically examines the post-merger performance of a sample of 1,320 European mergers and acquisitions deals. Specifically, we investigate the impact of pre-merger earnings management of acquirers on both the short-term and long-term post-merger performance, for M&A deals completed...

By considering different systems of legal protection this study examines the impact of capital structure on the performance of listed firms in European region. Based on 5050 listed firms in eight European countries, the results of the study reveal that the owners in low level of legal protection...

The luxury sector is one of the most significant segments of the economy. It is increasingly attracting the interest of investors given the high margins and growth that companies in this sector exhibit. What is the “secret” of this outstanding performance? Extant literature shows that...

This paper explores the relationship between working capital management (WCM) strategies and business performance during the COVID-19 crisis. Data from 1,067 non-financial European firms from 33 countries distributed across 6 economic sectors in the period from 2015 to 2021, feed Ordinary Least...

Innovation in the European Union remains weak according to a number of key "input" indicators, especially R&D investment by the business sector, and there are relatively few signs of progress. From a firm-level perspective, Europe's innovation gap relative to the US results from an inappropriate...

This paper analyses whether accounting quality produces any impact on firm performance using only accounting data: the abnormal accruals methodology to evaluate accounting quality and ROA to determine firm performance. This is important because accounting information guides investment decisions...