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International differences in R&D disclosure practices: Evidence in a French and Canadian context

Abstract : This paper compares the R&D disclosure practices in France and Canada, as evidenced in the annual reports of 76 French and 110 Canadian listed companies. It finds that Canadian high-tech companies (hardware, software, and biotechnology) disclose significantly more information on their R&D activities than their French counterparts. It also finds a strong link between R&D intensity and R&D disclosure among Canadian high-tech companies. Canadian companies overall are also found to be more likely to use non-financial disclosure as a means to resolve any R&D information asymmetry, while French firms disclose more traditional financial and accounting information. Canadian companies are also more willing than French firms to provide information concerning their future R&D expenditures. These results are consistent with inherent cultural and capital market differences between France and Canada. In contrast, the study does not find any significant difference in R&D expenditure capitalization policies between French and Canadian firms.
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https://hal-hec.archives-ouvertes.fr/hal-00591687
Contributor : Antoine Haldemann <>
Submitted on : Monday, May 9, 2011 - 10:49:53 PM
Last modification on : Thursday, January 11, 2018 - 6:19:32 AM

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  • HAL Id : hal-00591687, version 1

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Yuan Ding, Gary Entwistle, Hervé Stolowy. International differences in R&D disclosure practices: Evidence in a French and Canadian context. 2003. ⟨hal-00591687⟩

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