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Evaluation of the Impact of R&d on Eps in the Oil and Gas Industry
Academic journal article from Academy of Accounting and Financial Studies Journal, Vol. 6, No. 2
Beginning of article
ABSTRACT
Investment in Research and Development (R&D) creates intangible assets with a high earning potential. Several industries have a continuous R&D program due to the competitive nature of business. Thus R&D outlays may be viewed as fixed costs necessary for firms to achieve growth in size and earnings. The impact of R&D on earnings is measured by degree of R&D leverage, a term analogous to degrees of operating and financial leverage. This paper specifically tests the relationship between changes in R&D outlays and their impact on earnings for a sample of firms within petroleum drilling, refining, and oil and gas field services industry.
The …
