FINANCE Corporate financial policy and R and D Management

166 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.18 (Continued) 1976 1977 1978 1979 Variable Coeff T-Stat Coeff ...

The Model 167 TABLE 6.18 (Continued) 1992 1993 1994 1995 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat Intercept ...

168 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.19 Investment Equation 3SLS 1952 1953 1954 1955 Variable Coeff ...

The Model 169 TABLE 6.19 (Continued) 1968 1969 1970 1971 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat Intercept ...

170 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.19 (Continued) 1984 1985 1986 1987 Variable Coeff T-Stat Coeff ...

The Model 171 TABLE 6.19 (Continued) 2000 2001 2002 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Intercept 0.081 11.52 0.13 1 ...

172 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.20 (Continued) 1960 1961 1962 1963 Variable Coeff T-Stat Coeff ...

The Model 173 TABLE 6.20 (Continued) 1976 1977 1978 1979 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat Intercept ...

174 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.20 (Continued) 1992 1993 1994 1995 Variable Coeff T-Stat Coeff ...

The Model 175 TABLE 6.21 R&D Equation 3SLS 1952 1953 1954 1955 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat ...

176 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.21 (Continued) 1968 1969 1970 1971 Variable Coeff T-Stat Coeff ...

The Model 177 TABLE 6.21 (Continued) 1984 1985 1986 1987 Variable Coeff T-Stat Coeff T-Stat Coeff T-Stat Coeff T-Stat Intercept ...

178 INTERDEPENDENCIES AMONG CORPORATE FINANCIAL POLICIES TABLE 6.21 (Continued) 2000 2001 2002 Variable Coeff T-Stat Coeff T-Sta ...

investment, and new debt issues are estimated annually, cross-sectionally over the entire period. The estimated system equations ...

last year’s dividends, supporting the positions of Lintner (1956), Fama and Babiak (1968), and Switzer (1984). The rejection of ...

CHAPTER 7 Comparing Census/National Science Foundation R&D Data with Compustat R&D Data T his chapter^1 reviews the resu ...

Innovation, R&D, and Stockholder Wealth It is well known that there is substantial underinvestment in R&D in the United ...

preciation (DEP), and new debt financing (EF). Thus, the budget con- straint is: R&D + CE + DIV + LIQ = NI + DEP + EF Resear ...

financial differences. Our econometric estimations of the R&D, capital expenditures, dividends, new debt, and stock price de ...

found in the dividend equation. R&D was often negatively associated with dividends, but the relationship was not statistical ...