Post by arfanho7 on Feb 24, 2024 6:19:43 GMT
Ramana Nanda ABSTRACT—We review the recent literature on the financing of innovation inclusive of large companies and new startups. This research strand has been very active over the past five years generating important new findings questioning some long held beliefs and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation.
We highlight the new literature on learning and experimentation across multi stage innovation projects and how this impacts optimal financing design. We further highlight the strong interaction between financing choices for innovation and changing external conditions especially reduced experimentation Egypt WhatsApp Number List costs. Publisher s link hbs.edu faculty Pages item.aspx num FORTHCOMING First Evidence on Materiality By Khan Mozaffar George Serafeim and Aaron Yoon ABSTRACT—Using newly available materiality classifications of sustainability topics we develop a novel dataset by hand mapping sustainability investments classified as material for each industry into firm specific sustainability ratings.
This allows us to present new evidence on the value implications of sustainability investments. Using both calendar time portfolio stock return regressions and firm level panel regressions we find that firms with good ratings on material sustainability issues significantly outperform firms with poor ratings on these issues. In contrast firms with good ratings on immaterial sustainability issues do not significantly outperform firms with poor ratings on the same issues. These results are confirmed when we analyze future changes in accounting performance.
We highlight the new literature on learning and experimentation across multi stage innovation projects and how this impacts optimal financing design. We further highlight the strong interaction between financing choices for innovation and changing external conditions especially reduced experimentation Egypt WhatsApp Number List costs. Publisher s link hbs.edu faculty Pages item.aspx num FORTHCOMING First Evidence on Materiality By Khan Mozaffar George Serafeim and Aaron Yoon ABSTRACT—Using newly available materiality classifications of sustainability topics we develop a novel dataset by hand mapping sustainability investments classified as material for each industry into firm specific sustainability ratings.
This allows us to present new evidence on the value implications of sustainability investments. Using both calendar time portfolio stock return regressions and firm level panel regressions we find that firms with good ratings on material sustainability issues significantly outperform firms with poor ratings on these issues. In contrast firms with good ratings on immaterial sustainability issues do not significantly outperform firms with poor ratings on the same issues. These results are confirmed when we analyze future changes in accounting performance.