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Lev (1999) and Lev, et al (2004) examine the role of research and development expenditures (R&D) in the economy and, particularly, in the fate of
Lev (1999) and Lev, et al (2004) examine the role of research and development expenditures (R&D) in the economy and, particularly, in the fate of corporations. Why is our understanding of a firm's R&D expenditures so important? How does R&D spending impact the stock market? How might the accounting treatment of R&D expenditures lead to biases in stock values over time
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