Tech Stock Valuation
Hirschey, Mark (University of Kansas, Lawrence, U.S.A.)![Tech Stock Valuation](https://support.digitalhusky.com/media/annotations/sorted/127/1270010/CHSBZCOP031270010.jpg)
The contribution of research and development to a company's market value has grown considerably in recent years. In the mid-1970s, accountants were able to capture on their ledgers 90-95% of a firm's book value, but by 2000 the importance of intangible assets had grown to the point where they could account for only 13-15%. Financial economists and accountants have investigated the link between a firm's market value and its R&D, spending, and v...