Accounting treatment of research and development expenditures and firms performance: evidence from Greek listed firms in the Athens Stock Exchange Online publication date: Fri, 17-Mar-2017
by Petros Kalantonis
International Journal of Financial Engineering and Risk Management (IJFERM), Vol. 2, No. 3, 2016
Abstract: It is common sense that R&D investments could be a vehicle for financial development. However these investments have been related with uncertain financial outcome. As a result of this different approaches, for the reporting of the expenditure on R&D, have been stated and also have been adopted in the Accounting Standards of many countries. We have investigated in this research study the impact of R&D expenditure on firms' value and their financial performance. For this purpose we explored 60 listed firms in the Athens Stock Exchange for the period 2011-2013 and we found evidence for significant differences in the financial performance between R&D oriented and not R&D oriented in the period of Greek financial crisis. We used and analysed reported data, in the financial statements of firms, according to the International Accounting Standards.
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