Articles

Pertinence de l'inscription à l'actif des frais de R&D : une étude empirique

A. Cazavan-Jeny, T. JEANJEAN

Comptabilité Contrôle Audit

May 2005, vol. 1, n°11, pp.5-21

Departments: Accounting & Management Control


Value relevance of R&D capitalization : a French empirical study Accounting for successful R&D efforts is still controversial among regulators. In this article, we test the value relevance of R&D reporting on a sample of 93 French firms on a three years period (1998-2000). Empirical findings suggest that capitalized R&D is negatively associated with stock prices and stock returns. Contrary to previous studies, R&D accounting seems to act as a negative signal to investors in France


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