R&D’s impact on stock returns in the biotechnology industry in the Nordic countries

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dc.contributor.authorAlkazaz, Sami
dc.contributor.authorLidfelt, Arvid
dc.contributor.departmentUniversity of Gothenburg/Department of Economics
dc.contributor.departmentGöteborgs universitet/Institutionen för nationalekonomi med statistik
dc.contributor.departmentUniversity of Gothenburg/Department of Business Administration
dc.contributor.departmentGöteborgs universitet/Företagsekonomiska institutionen
dc.date.accessioned2022-07-01T08:48:58Z
dc.date.available2022-07-01T08:48:58Z
dc.date.issued2022-07-01
dc.description.abstractThis is a study on the impact of R&D expenditure, expressed in the form of R&D intensity, on stock returns in the Nordic Biotechnology sector. Firms in this sector are generally R&D intensive and the geographic area of the Nordic countries is known for being highly innovative. For the sample, 36 firms are analyzed through the period of 2013 - 2022. The empirical results show that R&D intensity has a statistically significant but small negative effect on the total returns of stocks. The results of this study stand in contrast to previous literature showing a positive relationship between R&D intensity and stock returns. The results are aligned with that strand of previous literature arguing that no significant relationship between R&D and stock returns exists.en
dc.identifier.urihttps://hdl.handle.net/2077/72511
dc.language.isoengen
dc.relation.ispartofseries202206:303en
dc.setspec.uppsokSocialBehaviourLaw
dc.titleR&D’s impact on stock returns in the biotechnology industry in the Nordic countriesen
dc.title.alternativeR&Ds påverkan på aktiers avkastning i den Nordiska bioteknologi-sektornen
dc.typetext
dc.type.degreeStudent essay
dc.type.uppsokM2

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