Access the full text.
Sign up today, get DeepDyve free for 14 days.
Loading next page...
/lp/emerald-publishing/accounting-for-intangible-assets-insights-from-meta-analysis-of-r-d-txGjzs0Fnk
References (116)
-
P. Healy, S. Myers, C. Howe (1999)
R&D Accounting and the Tradeoff between Relevance and ObjectivityCorporate Finance: Valuation
-
M. Hirschey, V. Richardson (2004)
Are Scientific Indicators of Patent Quality Useful to Investors?ERN: Intellectual Property (Topic)
-
(1989)
The information in discretionary outlays: advertising, research, and development -
A. Wyatt (2005)
Accounting Recognition of Intangible Assets: Theory and Evidence on Economic DeterminantsBehavioral & Experimental Accounting
-
F. Castellacci, C. Lie (2015)
Do the effects of R&D tax credits vary across industries? A meta-regression analysisResearch Policy, 44
-
T. Stanley, Hristos Doucouliagos (2017)
Neither fixed nor random: weighted least squares meta‐regressionResearch Synthesis Methods, 8
-
Elizabeth Tipton (2015)
Small sample adjustments for robust variance estimation with meta-regression.Psychological methods, 20 3
-
Theodore Sougiannis (2011)
Discussion of “The Effect of Research and Development (R&D) Inputs and Outputs on the Relation between the Uncertainty of Future Operating Performance and R&D Expenditures”Journal of Accounting, Auditing & Finance, 26
-
Anup Srivastava (2014)
Why Have Measures of Earnings Quality Changed Over Time?New Institutional Economics eJournal
-
Nerissa Brown, Michael Kimbrough (2011)
Intangible investment and the importance of firm-specific factors in the determination of earningsReview of Accounting Studies, 16
-
K. Trotman, R. Wood (1991)
A METAANALYSIS OF STUDIES ON INTERNAL CONTROL JUDGMENTSJournal of Accounting Research, 29
-
B. Becker, Meng-Jia Wu (2007)
The Synthesis of Regression Slopes in Meta-Analysis.Statistical Science, 22
-
Yasean Tahat, A. Ahmed, Mohammad Alhadab (2017)
The impact of intangibles on firms’ financial and market performance: UK evidenceReview of Quantitative Finance and Accounting, 50
-
Stewart Jones (2011)
Does the Capitalization of Intangible Assets Increase the Predictability of Corporate FailureAccounting Horizons, 25
-
(1999)
Use of R2 in accounting research: measuring changes in value relevance over the last four decades -
T. Stanley, Hristos Doucouliagos, J. Ioannidis (2017)
Finding the power to reduce publication biasStatistics in Medicine, 36
-
Lu Zhang, Melissa Toffanin (2018)
The Information Environment of the Firm and the Market Valuation of R&DARN Wiley-Blackwell Publishers Journals
-
T. Stanley, Hristos Doucouliagos (2014)
Meta‐regression approximations to reduce publication selection biasResearch Synthesis Methods, 5
-
Skating on thin evidence: implications for public policy
European Journal of Political Economy, 54
-
J. Ioannidis, T. Stanley, Hristos Doucouliagos (2017)
The Power of Bias in Economics ResearchEconometrics: Econometric Model Construction
-
Dan Palmon, Ari Yezegel (2010)
R&D Intensity and the Value of Analysts’ RecommendationsWharton Research Data Services (WRDS) Research Paper Series
-
K. Ely, Paul Simko, L. Thomas (2003)
The Usefulness of Biotechnology Firms' Drug Development Status in the Evaluation of Research and Development CostsJournal of Accounting, Auditing & Finance, 18
-
D. Hay, W. Knechel (2017)
Meta-Regression in Auditing Research: Evaluating the Evidence on the Big N Audit Firm PremiumAuditing-a Journal of Practice & Theory, 36
-
Tami Dinh, B. Eierle, Wolfgang Schultze, L. Steeger (2014)
Research and Development, Uncertainty, and Analysts’ Forecasts: The Case of IAS 38Capital Markets: Market Efficiency eJournal
-
G. Glass (2008)
Primary, Secondary, and Meta-Analysis of Research -
Ariel Aloe, Christopher Thompson (2013)
The Synthesis of Partial Effect SizesJournal of the Society for Social Work and Research, 4
-
Keith O'rourke (2007)
An historical perspective on meta-analysis: Dealing quantitatively with varying study resultsJournal of the Royal Society of Medicine, 100
-
A. Kress, B. Eierle, Ioannis Tsalavoutas (2019)
Development Costs Capitalization and Debt FinancingMicroeconomics: Intertemporal Firm Choice & Growth
-
A. Beyer, D. Cohen, Thomas Lys, Beverly Walther (2010)
The Financial Reporting Environment: Review of the Recent LiteratureCapital Markets: Market Efficiency
-
Alfredo Mauri, Max Michaels (1998)
Firm and industry effects within strategic management: an empirical examinationStrategic Management Journal, 19
-
Feng Gu, John Li (2010)
The Value-Relevance of Advertising: Evidence from Pharmaceutical IndustryJournal of Accounting, Auditing & Finance, 25
-
T. Sterling (1959)
Publication Decisions and their Possible Effects on Inferences Drawn from Tests of Significance—or Vice VersaJournal of the American Statistical Association, 54
-
Theodore Sougiannis (1994)
The Accounting Based Valuation of Corporate R&DAccounting review: A quarterly journal of the American Accounting Association, 69
-
I. Tutticci, Gopal Krishnan, Majella Percy (2007)
The Role of External Monitoring in Firm Valuation: The Case of R&D CapitalizationIO: Productivity
-
R&D accounting and the tradeoff between relevance and objectivity
Journal of Accounting Research, 40
-
S. Penman (2009)
Accounting for Intangible Assets: There is Also an Income StatementWiley-Blackwell: Abacus
-
G. Glass (1977)
9: Integrating Findings: The Meta-Analysis of ResearchReview of Research in Education, 5
-
H. Hoogervorst (2017)
IASB Chair's speech: the times, they are a-changin’ -
A. Wyatt (2008)
What financial and non‐financial information on intangibles is value‐relevant? A review of the evidenceAccounting and Business Research, 38
-
Ariel Aloe (2014)
An Empirical Investigation of Partial Effect Sizes in Meta-Analysis of Correlational DataThe Journal of General Psychology, 141
-
J. Polanin, T. Pigott (2015)
The use of meta‐analytic statistical significance testingResearch Synthesis Methods, 6
-
Karl Muller (1999)
An Examination of the Voluntary Recognition of Acquired Brand Names in the United KingdomJournal of Accounting and Economics, 26
-
Feng Gu, Weimin Wang (2005)
Intangible Assets, Information Complexity, and Analysts’ Earnings ForecastsJournal of Business Finance & Accounting, 32
-
Sundaresh Ramnath, S. Rock, Philip Shane (2008)
The Financial Analyst Forecasting Literature: A Taxonomy with Suggestions for Further ResearchHistory of Finance eJournal
-
Wei Zhang, S. Cahan, Arthur Allen (2005)
Insider Trading and Pay Performance Sensitivity: An Empirical AnalysisSPGMI: Compustat Fundamentals (Topic)
-
R. Shortridge (2004)
Market Valuation of Successful Versus Non-Successful R&D Efforts in the Pharmaceutical IndustryFinancial Accounting eJournal
-
M. Borenstein, L. Hedges, J. Higgins, H. Rothstein (2009)
Introduction to Meta‐AnalysisInternational Coaching Psychology Review
-
S. Greenland, S. Senn, K. Rothman, J. Carlin, C. Poole, S. Goodman, D. Altman (2016)
Statistical tests, P values, confidence intervals, and power: a guide to misinterpretationsEuropean Journal of Epidemiology, 31
-
Francesco Mazzi, R. Slack, Ioannis Tsalavoutas, Fanis Tsoligkas (2019)
Country-level corruption and accounting choice: Research & development capitalization under IFRSThe British Accounting Review
-
Lídia Oliveira, L. Rodrigues, R. Craig (2010)
Intangible assets and value relevance: Evidence from the Portuguese stock exchangeBritish Accounting Review, 42
-
S. Keef, L. Roberts (2004)
The meta-analysis of partial effect sizes.The British journal of mathematical and statistical psychology, 57 Pt 1
-
M. Hirschey, Jerry Weygandt (1985)
Amortization Policy For Advertising And Research And Development ExpendituresJournal of Accounting Research, 23
-
S. Powell (2003)
Accounting for intangible assets: current requirements, key players and future directionsEuropean Accounting Review, 12
-
D. Hay, W. Knechel, Norman Wong (2006)
Audit Fees: A Meta-Analysis of the Effect of Supply and Demand AttributesContemporary Accounting Research, 23
-
Evan Carter, Felix Schönbrodt, W. Gervais, J. Hilgard (2019)
Correcting for Bias in Psychology: A Comparison of Meta-Analytic MethodsAdvances in Methods and Practices in Psychological Science, 2
-
J. Valentine, T. Pigott, H. Rothstein (2010)
How Many Studies Do You Need?Journal of Educational and Behavioral Statistics, 35
-
Tatiana Fedyk, Natalya Khimich (2017)
R&D Investment Decisions of IPO Firms and Long-Term Future PerformanceERN: Firms Temporal Investment & Financing Behavior (Topic)
-
P. Nguyen, Sophie Nivoix, Mikiharu Noma (2009)
The Valuation of R&D Expenditures in JapanARN Wiley-Blackwell Publishers Journals
-
M. Hirschey, V. Richardson, Susan Scholz (1998)
Value Relevance of Nonfinancial Information: The Case of Patent DataReview of Quantitative Finance and Accounting, 17
-
A. Field (2003)
The Problems in Using Fixed-Effects Models of Meta-Analysis on Real-World DataUnderstanding Statistics, 2
-
Tami Dinh, Helen Kang, Wolfgang Schultze (2015)
Capitalizing Research & Development: Signaling or Earnings Management?European Accounting Review, 25
-
The valuation of R&D firms with R&D limited partnerships
The Accounting Review, 66
-
B. Lev (2018)
Ending the Accounting-for-Intangibles Status QuoEuropean Accounting Review, 28
-
T. Goodwin (2015)
The battle is for the customer interface -
T. Hak, Henk Rhee, R. Suurmond (2016)
How to interpret results of meta-analysis -
Reproducibility in accounting research: views of the research community
Journal of Accounting Research, 58
-
R. Dersimonian, R. Dersimonian, N. Laird, N. Laird (1986)
Meta-analysis in clinical trials.Controlled clinical trials, 7 3
-
S. Duval, R. Tweedie (2000)
A Nonparametric “Trim and Fill” Method of Accounting for Publication Bias in Meta-AnalysisJournal of the American Statistical Association, 95
-
B. Lev (2008)
A rejoinder to Douglas Skinner's ‘Accounting for intangibles – a critical review of policy recommendations’Accounting and Business Research, 38
-
Mary Barth, W. Beaver, W. Landsman (2001)
The Relevance of the Value Relevance Literature for Financial Accounting Standard Setting: Another ViewCorporate Finance and Organizations eJournal
-
M. Borenstein, J. Higgins, L. Hedges, H. Rothstein (2017)
Basics of meta‐analysis: I2 is not an absolute measure of heterogeneityResearch Synthesis Methods, 8
-
Ronald Zhao (2002)
Relative Value Relevance of R&D Reporting: An International ComparisonIRPN: Innovation & Accounting (Topic)
-
Douglas Skinner (2008)
Accounting for intangibles – a critical review of policy recommendationsAccounting and Business Research, 38
-
Denise Jones (2007)
Voluntary Disclosure in R&D-Intensive Industries*Contemporary Accounting Research, 24
-
The financial reporting environment: review of the recent literature
Journal of Accounting and Economics, 50
-
Anne Jeny, Luc Paugam, Pierre Astolfi (2019)
The usefulness of intangible assets’ disclosure for financial analysts. Insights from Purchase Price Allocation conditional on deal qualityComptabilité Contrôle Audit
-
D. Donelson, Robert Resutek (2011)
The effect of R&D on future returns and earnings forecastsReview of Accounting Studies, 17
-
Seraina Anagnostopoulou, M. Levis (2008)
R&D and performance persistence: Evidence from the United KingdomThe International Journal of Accounting, 43
-
Thomas Belz, Dominik Hagen, Christian Steffens (2017)
R&D Intensity and the Effective Tax Rate: A Meta‐Regression AnalysisInternational Corporate Finance eJournal
-
Anna Białek-Jaworska (2016)
A Scientist in the Board Effect on Recognition of R&D Outcomes in Private Firms' ReportsJournal of Accounting and Management Information Systems, 15
-
C. Doucouliagos, M. Paldam, T. Stanley (2018)
Skating on Thin Evidence: Implications for Public PolicyPublic Economics: Miscellaneous Issues eJournal
-
R. Wasserstein, N. Lazar (2016)
The ASA Statement on p-Values: Context, Process, and PurposeThe American Statistician, 70
-
Mustafa Ciftci, William Cready (2011)
Scale Effects of R&D as Reflected in Earnings and ReturnsFinancial Accounting eJournal
-
D. Smith, Majella Percy, G. Richardson (2001)
Discretionary Capitalization of R&D: Evidence on the Usefulness in an Australian and Canadian ContextAdvances in International Accounting, 14
-
B. Lev, Paul Zarowin (1999)
The boundaries of financial reporting and how to extend themJournal of Accounting Research, 37
-
Capitalization of R&D costs and earnings management: evidence from Italian listed companies
International Journal of Accounting, 43
-
Bong-ho Han, David Manry (2004)
The value-relevance of R&D and advertising expenditures: Evidence from KoreaThe International Journal of Accounting, 39
-
Manuel Covarsí, María Muñoz, Leandro Calvo (2004)
Accounting for intangibles: a literature review -
M. Harris, Karl Muller (1999)
The market valuation of IAS versus US-GAAP accounting measures using Form 20-F reconciliationsJournal of Accounting and Economics, 26
-
The value relevance of intangibles: the case of software capitalization
Journal of Accounting Research, 36
-
The relevance of the value relevance literature for financial accounting standard setting: another view
Journal of Accounting and Economics, 31
-
Ester Chen, Ilanit Gavious, B. Lev (2016)
The positive externalities of IFRS R&D capitalization: enhanced voluntary disclosureReview of Accounting Studies, 22
-
J. Gong, S. Wang (2016)
Changes in the value relevance of research and development expenses after IFRS adoptionAdvances in Accounting, 35
-
J. Boone, K. Raman (2004)
Does the Market Fixate on Reported Earnings for R&D Firms?Journal of Accounting, Auditing & Finance, 19
-
Ashiq Ali, Mustafa Ciftci, William Cready (2012)
Market Underestimation of the Implications of R&D Increases for Future Earnings: The US EvidenceS&P Global Market Intelligence Research Paper Series
-
Seraina Anagnostopoulou (2010)
Does the Capitalization of Development Costs Improve Analyst Forecast Accuracy? Evidence from the UKWiley-Blackwell: Journal of International Financial Management & Accounting
-
Lorenzo Pozza, A. Prencipe, G. Markarian (2007)
Capitalization of R&D Costs and Earnings Management: Evidence from Italian Listed CompaniesEuropean Finance eJournal
-
Orie Barron, Donal Byard, Charles Kile, Edward Riedl (2002)
High-Technology Intangibles and Analysts' ForecastsJournal of Accounting Research, 40
-
Dan Weiss, H. Falk, U. Zion (2013)
Earnings Variability and Disclosure of R&D: Evidence from Press ReleasesHealth Economics eJournal
-
H. Chan, R. Faff, philip. gharghori, Y. Ho (2007)
The relation between R&D intensity and future market returns: does expensing versus capitalization matter?Review of Quantitative Finance and Accounting, 29
-
David Aboody, B. Lev (1998)
The Value-Relevance of Intangibles: The Case of Software CapitalizationS&P Global Market Intelligence Research Paper Series
-
Shivaram Rajgopal, M. Venkatachalam, S. Kotha (2003)
The Value-Relevance of Network Advantages: The Case of E-Commerce FirmsJournal of Accounting Research, 41
-
Hung-Chao Yu, Wen-Ying Wang, Chingfu Chang (2015)
The stock market valuation of intellectual capital in the IT industryReview of Quantitative Finance and Accounting, 45
-
S. Shah, A. Stark, S. Akbar (2009)
The value relevance of major media advertising expenditures: Some U.K. evidenceThe International Journal of Accounting, 44
-
Anne Cazavan-Jeny, Thomas Jeanjean (2006)
The negative impact of R&D capitalization: A value relevance approachEuropean Accounting Review, 15
-
Bixia Xu, M. Magnan, P. André (2007)
The Stock Market Valuation of R&D Information in Biotech FirmsContemporary Accounting Research, 24
-
S. Lippman, R. Rumelt (1982)
Uncertain Imitability: An Analysis of Interfirm Differences in Efficiency under CompetitionThe Bell Journal of Economics, 13
-
L. Hedges, Elizabeth Tipton, Matthew Johnson (2010)
Robust variance estimation in meta‐regression with dependent effect size estimatesResearch Synthesis Methods, 1
-
L. Hedges, Jack Vevea (1998)
Fixed- and random-effects models in meta-analysis.Psychological Methods, 3
-
Sudipta Basu, Gregory Waymire (2008)
Has the importance of intangibles really grown? And if so, why?Accounting and Business Research, 38
-
Luzi Hail, Mark Lang, C. Leuz (2020)
Reproducibility in Accounting Research: Views of the Research CommunityInternational Accounting eJournal
-
Anne Cazavan-Jeny, Thomas Jeanjean, P. Joos (2011)
Accounting choice and future performance: The case of R&D accounting in FranceJournal of Accounting and Public Policy, 30
-
Mustafa Ciftci, B. Lev, S. Radhakrishnan (2011)
Is Research and Development Mispriced or Properly Risk Adjusted?Journal of Accounting, Auditing & Finance, 26
-
Dennis Chambers, R. Jennings, R. Thompson (2002)
Excess Returns to R&D-Intensive FirmsReview of Accounting Studies, 7
-
D. Hay (2019)
The potential for greater use of meta-analysis in archival auditing researchManagerial Auditing Journal
-
R. Suurmond, Henk Rhee, T. Hak (2017)
Introduction, comparison, and validation of Meta‐Essentials: A free and simple tool for meta‐analysisResearch Synthesis Methods, 8
- Publisher
- Emerald Publishing
- Copyright
- © Emerald Publishing Limited
- ISSN
- 0737-4607
- eISSN
- 2452-1469
- DOI
- 10.1108/jal-11-2021-0004
- Publisher site
- See Article on Publisher Site
Abstract
The knowledge- and Internet-based economy demands a reexamination of the accounting treatment for intangibles and a thorough understanding of the empirical evidence on this topic.Design/methodology/approachThe study reviews the literature on research and development (R&D), a specific internally developed intangible asset, using meta-analysis techniques that allow to highlight the areas of consensus and disagreement in quantitative empirical results. The literature the authors review addresses four main research questions on (1) the determinants of the decision to capitalize R&D, (2) stock market-based outcomes of capitalizing R&D, (3) firm-based outcomes related to expensing R&D and (4) stock market-based outcomes of expensing R&D.FindingsThe authors find higher value relevance of capitalized compared with expensed R&D. There is, however, little robust evidence on the determinants of the capitalization decision and the characteristics of capitalizers.Originality/valueThe authors conclude by highlighting future research that can allow accounting academics to contribute to standard setting.
Journal
Journal of Accounting Literature – Emerald Publishing
Published: Apr 12, 2022
Keywords: Research and development; Intangible assets; Capitalization; Meta-analysis