关键词: R&D投入, R&D资本化, R&D费用化, 政策选择, R&D investment, R&D capitalization, R&D expensing, policy choice

Abstract: Using a sample of 1071 observations from Chinese listed companies that disclosed information on R&D over the period 2007-2010, from the perspective of the accounting treatment of R&D expenditures, this paper studied the influencing factors of policy choice on R&D capitalization and expensing. The empirical findings show that accounting choice for R&D expenditures is affected by the characteristics of the companies. Capitalization is preferred by those companies which are greater R&D intensity, less profitable, smaller size, more highly leverage, lower ownership concentration, non-steady-state of R&D investment, high-tech industry and in the condition of losses. While the firms choosing to expense R&D are larger, higher profitable, lower leveraged, more concentrate ownership and in steady-state for R&D. Moreover, weaker evidence shows any relation between systematic risk, growth, smoothing profits and accounting choice for R&D.