科学研究
报告题目：The Amount and Quality of R&D Capitalization under International Financial Reporting Standards (IFRS): Evidence from Enhanced Labor Disclosures in China
报告人：陈慧瑕
报告时间：2024年12月19日（周四）13:30-15:00
报告地点：腾讯会议（会议ID：960-592-539）
主办单位：东北财经大学会计学院 辽宁省资本市场财务与会计研究生创新与学术交流中心
【报告摘要】
The Financial Accounting Standards Board (FASB) is currently investigating how to improve the accounting for R&D costs. We examine the amount and quality of capitalized R&D costs in China where firms are allowed to do so under IFRS with uniquely enhanced disclosure, and offer four main findings. First, less than one-third of firm-years with R&D costs capitalize any amount of R&D, and, among those that do, only one-fifth of total R&D costs are capitalized. These findings suggest that, when given discretion, firms do not appear to capitalize extraordinary amounts of R&D. Second, consistent with labor economics theory, R&D labor costs are a proxy for R&D quality, evidenced by a lower likelihood of cutting R&D spending, lower R&D employee turnover, and greater patent applications, grants and citations. Third, we find a positive association between this proxy for R&D quality and the amount of R&D costs that firms capitalize, and little evidence of opportunism in R&D capitalization. These results suggest that, when given discretion, firms capitalize R&D of high quality. Finally, we find that capitalized R&D costs are positively associated with investor pricing, but only when R&D is high quality. In additional analysis, we find no evidence that this disclosure mandate decreased the level or quality of firms’ R&D expenditures. Overall, our findings suggest that when R&D can be capitalized and disclosure quality is high, firms appear to capitalize legitimate R&D costs, and, at a minimum, the FASB can improve R&D accounting by requiring firms to disclose R&D information, particularly labor costs.
【报告人简介】
陈慧瑕，中国人民大学与香港城市大学会计学博士生，研究方向为高管薪酬与信息披露，曾获得交大会计合作论坛第六届学术年会（2024）优秀论文二等奖，其研究成果已被Journal of Business Ethics期刊接收。
【特别提醒】
未经论文作者和主办方允许，严禁将讲座内容录制并公开传播，违者将有可能被追究法律责任。
