dc.contributor.advisor | Molnàr, Peter | |
dc.contributor.advisor | Krakstad, Svein Olav | |
dc.contributor.author | Dyrnes, Magnus | |
dc.contributor.author | Friestad, Ole Jørgen | |
dc.date.accessioned | 2020-09-21T13:51:19Z | |
dc.date.available | 2020-09-21T13:51:19Z | |
dc.date.issued | 2020-06 | |
dc.identifier.uri | https://hdl.handle.net/11250/2678870 | |
dc.description | Master's thesis in Applied finance | en_US |
dc.description.abstract | Investments in research and development (R&D) may enhance competitive advantage and help sustain profitability over time. With access to a unique dataset covering 14 years of accounting data for Norwegian oilfield service companies, we examined whether R&D affects financial performance. Unlike previous research on this topic, we tested for within-industry segment-specific effects and used a broader range of financial performance measures.
Prevailing academic consensus suggest that R&D has a positive effect on financial performance. However, the findings of this paper suggest otherwise. We did not find evidence for a positive effect of R&D on subsequent financial performance. The analysis revealed several segment-specific effects of R&D, but these seem to be a result of bidirectional relationships rather than causality. If any, R&D seems to have a negative impact on asset turnover. Instead, evidence is more robust for a direct relationship between profit margins and subsequent investment in R&D. | en_US |
dc.language.iso | eng | en_US |
dc.publisher | University of Stavanger, Norway | en_US |
dc.relation.ispartofseries | Masteroppgave/UIS-HH/2020; | |
dc.rights | Navngivelse 4.0 Internasjonal | * |
dc.rights | Navngivelse 4.0 Internasjonal | * |
dc.rights.uri | http://creativecommons.org/licenses/by/4.0/deed.no | * |
dc.subject | finance | en_US |
dc.subject | R&D | en_US |
dc.subject | oilfield service | en_US |
dc.subject | anvendt finans | en_US |
dc.title | The effect of R&D on financial performance: A study of Norwegian oilfield service companies | en_US |
dc.type | Master thesis | en_US |
dc.subject.nsi | VDP::Social science: 200::Economics: 210::Business: 213 | en_US |