01812nas a2200181   4500008004100000245009600041210006900137260000900206300001300215490000700228520116600235653003201401653001701433100002101450700001901471700001701490856012301507       2003                        eng d00aThe Return on R&D Versus Capital Expenditures in the Pharmaceutical and Chemistry Industies0 aReturn on RD Versus Capital Expenditures in the Pharmaceutical a  c2003  a141 -1500 v503 aThe impact of research and development (R&D) on firm performance is generally agreed to be positive, but the nature and extent of this impact share little agreement in the previous research. Using an improved, time series, cross-sectional regression model that accounts for both contemporaneous and firm-specific serial correlation, as well as the feedback between firm profitability and investments, our study compares the rate of return from a dollar investment on R&D to a dollar investment on fixed assets in pharmaceutical and chemical industries. We find positive associations of R&D intensity and all variables of firm performance (net margin, operating margin, sales growth, and market value). We find that an investment in R&D earns an operating margin return much higher than the industry cost of capital. We also find that the effect of an investment in R&D on the firm's market value is about twice as much the effect of an investment in fixed assets. These findings have implications for corporate investment strategies, indicating that additional R&D investment is more likely to provide a firm with a unique and sustainable competitive advantage.10aStrategy & Entrepreneurship10aSupply Chain1 aHsieh, Ping-Hung1 aMishra, C., S.1 aGobeli, Dave  u/biblio/return-rd-versus-capital-expenditures-pharmaceutical-and-chemistry-industies-000518nas a2200145   4500008004100000245006900041210006300110260000900173490000700182653003200189100001900221700001700240700001200257856010300269       2000                        eng d00aThe Effectiveness of Long Term, Accounting-based Incentive Plans0 aEffectiveness of Long Term Accountingbased Incentive Plans  c20000 v1210aStrategy & Entrepreneurship1 aMishra, C., S.1 aGobeli, Dave1 aMay, D.  u/biblio/effectiveness-long-term-accounting-based-incentive-plans-001046nas a2200133   4500008004100000245005800041210005800099260000900157520058100166653003200747100001700779700001900796856009700815       2000                        eng d00aStrategic Value of Corporate Venture Capital Programs0 aStrategic Value of Corporate Venture Capital Programs  c20003 aCorporate venturing activities, driven largely by the need to be competitive in the Internet Age, have out-paced the accompanying theory on how such programs can create value. This article presents a framework for understanding value creation through a firm's venture capital programs. The framework includes two stages of value creation: a firm creates value through building technology equity and brand equity, and then corporate venturing programs can multiply this value. A mediating variable, free cash flow level, is included to allow for effective use of venture funds.10aStrategy & Entrepreneurship1 aGobeli, Dave1 aMishra, C., S.  u/biblio/strategic-value-corporate-venture-capital-programs-0