The Complementary Relationship between Financial and Non-Financial Information in the Biotechnology Industry and the Degree of Investor Sophistication

The Complementary Relationship between Financial and Non-Financial Information in the Biotechnology Industry and the Degree of Investor Sophistication

We examine whether financial and non-financial variables, separately and in tandem, are value relevant in explaining market returns, equity values and the degree of investment by sophisticated investors for a sample of drug development companies. Patent counts, number of collaborations and probabili...

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Bibliographic Details
Main Authors: SEGAL, Dan, Callen, Jeffrey L., Gavious, Ilanit
Format: text
Language:English
Published: Institutional Knowledge at Singapore Management University 2010
Subjects:
Biotechnology
Financial information
Non-financial information
R&D expenditures
Sophisticated investors
Value-relevance
Accounting
Corporate Finance
Online Access:https://ink.library.smu.edu.sg/soa_research/799
http://dx.doi.org/10.1016/j.jcae.2010.09.001
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Institution: Singapore Management University
Language: English

Internet

https://ink.library.smu.edu.sg/soa_research/799
http://dx.doi.org/10.1016/j.jcae.2010.09.001

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