Full metadata record
DC FieldValueLanguage
dc.contributorFaculty of Businessen_US
dc.contributor.advisorJiang, Li (LMS)-
dc.creatorChen, I Ming-
dc.publisherHong Kong Polytechnic University-
dc.rightsAll rights reserveden_US
dc.titleCan R&D spillover effect explain the positive association between R&D investments and future abnormal returns ?en_US
dcterms.abstractThis study examines whether R&D spillover effect can provide an alternative explanation on the positive association between R&D investments and future abnormal returns. I find that R&D investments of peer firms positively affect a firm's stock returns, and such R&D spillover effect is inversely related to geographical proximity and is positively related to the firm's own absorptive capability. In particular, using geographic distance as a key determinant of R&D spillover potential, I find no significant effect of such incoming R&D spillover potential on stock returns on its own. However, I find an incremental positive effect of the interaction between incoming R&D spillover potential and a firm's R&D investments as a proxy for absorptive capability. My evidence suggests that a firm's R&D investments enhance its absorptive capability in benefiting from peer firms' R&D investments. My study contributes to the literature on R&D premium by providing a new perspective on the importance of peer firms' R&D investments.en_US
dcterms.extentiv, 96 pages : color illustrationsen_US
dcterms.isPartOfPolyU Electronic Thesesen_US
dcterms.educationalLevelAll Doctorateen_US
dcterms.LCSHHong Kong Polytechnic University -- Dissertationsen_US
dcterms.LCSHTechnological innovations -- Economic aspectsen_US
dcterms.LCSHResearch, Industrial -- Economic aspectsen_US
dcterms.accessRightsrestricted accessen_US

Files in This Item:
File Description SizeFormat 
991022289506803411.pdfFor All Users (off-campus access for PolyU Staff & Students only)1.63 MBAdobe PDFView/Open

Copyright Undertaking

As a bona fide Library user, I declare that:

  1. I will abide by the rules and legal ordinances governing copyright regarding the use of the Database.
  2. I will use the Database for the purpose of my research or private study only and not for circulation or further reproduction or any other purpose.
  3. I agree to indemnify and hold the University harmless from and against any loss, damage, cost, liability or expenses arising from copyright infringement or unauthorized usage.

By downloading any item(s) listed above, you acknowledge that you have read and understood the copyright undertaking as stated above, and agree to be bound by all of its terms.

Show simple item record

Please use this identifier to cite or link to this item: https://theses.lib.polyu.edu.hk/handle/200/10287