Effects of Advertising and R&D on the Intangible Assets for the Japanese Manufacturing Firms: A Time Series Analysis of the Unbalanced Panel Data

Isamu Ogata
The Journal of Management Accounting, Japan  
The purpose ofthe paper is to analyze the effects of advenising and R & D expenditures on the values of intangibles fbr the 1 , 091 Japanese manufacturing f s during the 38 years from l 965 to 2002. The accounting data exhibits an unbalanced panel structure . The paper employs a general linear regression model with parameters valying over time , which leads a generalized least squares ( GLS )method of estimation instead of conven 百onal ordhlaly least squares ( OLS ) . Empirical results reveal
more » ... at ( 1 ) the effectS of the advertising expenditure does not change during the sample periods except fbr the bubble
doi:10.24747/jma.14.1_39 fatcat:5ke7ud5onfbjfgldcvqajvrpiu