無形資產(chǎn)管理、計(jì)量和呈報(bào)外文翻譯(已修改)
2025-06-01 00:56 本頁面
【正文】 11 本科畢業(yè) 論文 （ 設(shè)計(jì) ） 外 文 翻 譯 外文題 目 Intangibles: Management, Measurement, and Reporting 外文出處 The Brookings Institution 外文 作者 Baruch Lev 原文 ： Intangibles: Management, Measurement, and Reporting Ramp。D and the Growth of Business Enterprises The contribution of Ramp。D to the performance measure (profits ,sales) statistically to Ramp。D expenditures –in the current and previous periods to allow for the delayed effect of Ramp。D on business performance –and by controlling for the effect of other investments (physical assets ) on business performance. This statistical approach to empirically address issues concerning intangibles and their private and social impact was frequently used by economists and researchers in related areas. The empirical worked started with extensive historical case studies and proceeded to large sample (crosssectional) analyses of Ramp。D on firms’ productivity and growth .The research effort yielded several important findings: Ramp。D expenditures contribute significantly to the productivity(value added) and output of firms ,and the estimated rates of return on Ramp。D investment are quite high — as much as—2035 percent annually – with the estimates varying widely across industries and over time. The contribution of basic research (work aimed at developing new science and technology) to corporate productivity and growth is substantially larger than the contribution of other types of Ramp。D ,such as product development and process Ramp。D(where the latter is aimed at enhancing the efficiency of production processes).The estimated contribution differential of approximately three to one in 12 favor of basic research is particularly intriguing ,given the widespread belief that public panies have been recently curtailing expenditures on basic research, in part as a response to the skepticism of many financial analysts and institutional investors about the mercialization prospects of basic research. Basic research is, of course, more risky than applied Ramp。D (see chapter 2), but it is inconceivable that risk differentials by themselves account for a threetoone productivity of basic research. The contribution of corporatefinanced Ramp。D to productivity growth is larger than corporatebased –but governmentfinanced — Ramp。D (granted primarily to government contractors).The fact that most contracts with the government are based on costplus terms may partially explain this findings. This result should not detract from the significant contribution to the industrial and technological infrastructure of publicly funded research conducted by government agencies and in federal laboratories (such as the contribution by the National Institutes of Health to pharmaceutical and biotech panies) as well as the substantial contribution of university research to technology. It should be noted that much of the research summarized above was based on survey data and industry aggregates, due to severe limitations in corporate published data. In fact, most of the examined variables and attributes—such as basic versus applied research and pany versus governmentsponsored Ramp。D—cannot be directly estimated from information publicly disclosed to investors. Thus an important implication of these and similar findings is to suggest which kinds of currently unavailable information and data would be useful to managers, investors, and policymakers. Alternative Output Measures: Market Value and Patent The research presented above relates Ramp。D inputs (intensity, capital) to firms’ productivity, sales, or profit growth, i
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