Λογότυπο αποθετηρίου

Πλοήγηση ανά Συγγραφέα "Vlachou, Sofia"

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Α Β Γ Δ Ε Ζ Η Θ Ι Κ Λ Μ Ν Ξ Ο Π Ρ Σ Τ Υ Φ Χ Ψ Ω
Φιλτράρετε τα αποτελέσματα πληκτρολογώντας τα πρώτα γράμματα
Τώρα δείχνει 1 - 1 από 1
  • Μικρογραφία εικόνας
    Τεκμήριο
    R&D expenses link to profitability in pharmaceutical sector
    (2021-12-20) Vlachou, Sofia; Βλάχου, Σοφία; Athens University of Economics and Business, Department of Accounting and Finance; Tzovas, Christos; Chalevas, Constantinos; Doukakis, Leonidas
    Nowadays, the constant technological evolution enhances innovation activities ofcorporations. The modern business environment is subject to constant changes andfirms need to innovate in order to remain competitive. The pharmaceutical sector ismainly based on R&D and innovation characterizes all activities, at all stages ofcorporate function of pharmaceutical industries. For this reason, the pharmaceuticalsector was chosen as the case study for the present research. As a consequence, themain research aim is to investigate the effect of R&D expenses on pharmaceuticalfirms’ profitability.The research methodology selected is quantitative research, using secondary dataanalysis. A research model was developed and data by the pharmaceutical firms listedin NYSE index, USA were used for the years 2010-2020. The independent variable wasR&D / Revenues, while the control variables were CAPEX/Revenues, General &Administrative Expenses (SGAs)/Revenues, Advertising Expenses (ADV)/Revenuesand Free Cash Flow / Revenues. All variables were normalized by revenues in order toeliminate the influence of firm size. As far as the descriptive statistics are concerned,they revealed that there exist substantial differences in the values of the variables amongthe firms.Then regression analysis followed and results revealed that R&D Expenditure has anegative and not statistically significant relationship with Market Value, CapitalExpenditure is positively but not statistically significantly correlated with MarketValue, General & Administrative Expenses are positively correlated with MarketValue, but not in a statistically significant way, Advertising expenses are correlatedwith Market Value in a negative and not statistically significant way and Free CashFlow is positively and statistically significantly correlated with Market Value.Although the results reveal that further investigation is required, the research cancontribute in existing literature by offering an additional insight in a controversialsubject.