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Identifying intertemporal relationships in corporate R&D expenditures

机译:识别企业研发支出中的跨期关系

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摘要

Estimates are empirically derived for the determinants of the research and development (R&D), dividend, investment, and financing decisions of 303 firms during the 1978-82 period. Composite variables are constructed to gain insights into the intertemporal relationships among the firms' financial decision variables. Empirical estimates are provided for tradeoffs among decision variables and these relationships are incorporated into a model that sets R&D, dividend, financing, and investment policies in a manner that is consistent with stock price maximization.
机译:估算是根据经验得出的,用于确定1978-82年间303家公司的研究与开发(R&D),股息,投资和融资决策的决定因素。构造综合变量以深入了解企业财务决策变量之间的时间间关系。为决策变量之间的折衷提供了经验估计,并将这些关系合并到一个模型中,该模型以与股价最大化相一致的方式设置研发,股息,融资和投资政策。

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