The Stock Market Reaction to the Disclosure of R&D Expenditure in Chinese Companies
In order to strengthen the competitiveness in world market, the Chinese government takes many measures to promote technical research and innovation. One of the most important financial incentives is tax abatement for authenticated high and new technology companies. The purpose of this paper is to investigate how the market responds to the identification of hi-tech company by the government. Our finding is that the market responds positively to the tax abatement but not to the disclosure of intensive R&D expenditure.
High and New Technology Company R&D Expenditure Event Study China
Hao Lei Xueyuan (Adrian) Liu
Economics and Management School Wuhan University, China
国际会议
香港·广州
英文
9-12
2010-07-25（万方平台首次上网日期，不代表论文的发表时间）