无形资产——管理、计量和呈报【外文翻译】

《无形资产——管理、计量和呈报【外文翻译】》由会员上传分享，免费在线阅读，更多相关内容在应用文档-天天文库。

1、本科毕业论文（设计）外文翻译外文题目Intangibles:Management,Measurement,andReporting外文出处TheBrookingsInstitution外文作者BaruchLev原文：Intangibles:Management,Measurement,andReportingR&DandtheGrowthofBusinessEnterprisesThecontributionofR&Dtotheperformancemeasure(profits,sales)statisticallytoR&Dexpenditures–inthecurrentandpre

2、viousperiodstoallowforthedelayedeffectofR&Donbusinessperformance–andbycontrollingfortheeffectofotherinvestments(physicalassets)onbusinessperformance.Thisstatisticalapproachtoempiricallyaddressissuesconcerningintangiblesandtheirprivateandsocialimpactwasfrequentlyusedbyeconomistsandresearchersinrela

3、tedareas.Theempiricalworkedstartedwithextensivehistoricalcasestudiesandproceededtolargesample(cross-sectional)analysesofR&Donfirms’productivityandgrowth.Theresearcheffortyieldedseveralimportantfindings:---R&Dexpenditurescontributesignificantlytotheproductivity(valueadded)andoutputoffirms,andtheest

4、imatedratesofreturnonR&Dinvestmentarequitehigh—asmuchas—20-35percentannually–withtheestimatesvaryingwidelyacrossindustriesandovertime.---Thecontributionofbasicresearch(workaimedatdevelopingnewscienceandtechnology)tocorporateproductivityandgrowthissubstantiallylargerthanthecontributionofothertypeso

5、fR&D,suchasproductdevelopmentandprocessR&D(wherethelatterisaimedatenhancingtheefficiencyofproductionprocesses).Theestimatedcontributiondifferentialofapproximatelythreetoonein112favorofbasicresearchisparticularlyintriguing,giventhewidespreadbeliefthatpubliccompanieshavebeenrecentlycurtailingexpendi

6、turesonbasicresearch,inpartasaresponsetotheskepticismofmanyfinancialanalystsandinstitutionalinvestorsaboutthecommercializationprospectsofbasicresearch.Basicresearchis,ofcourse,moreriskythanappliedR&D(seechapter2),butitisinconceivablethatriskdifferentialsbythemselvesaccountforathree-to-oneproductiv

7、ityofbasicresearch.---Thecontributionofcorporate-financedR&Dtoproductivitygrowthislargerthancorporate-based–butgovernment-financed—R&D(grantedprimarilytogovernmentcontractors).Thefactthatmostcontractswiththegover