Graduation Year

2016

Document Type

Campus Only Senior Thesis

Degree Name

Bachelor of Arts

Department

Economics

Reader 1

Sean Flynn

Reader 2

Roberto Pedace

Rights Information

© 2015 Emma A. Beriker

Abstract

This research aims to explore if and to what extent the IPO-Year R&D investments of 32 Application Software companies return value, as measured through stock performance. By utilizing “Ordinary Least Squares Analysis” and the “Fama-French Three Factor Model,” this research explores how the initial R&D investments in “IPO-Year” impact stock returns during the three years post-IPO. This study is purposed to discover if and how long it takes for the initial R&D investment in the IPO-Year to materialize into stock performance for Application Software companies. However, the research and analysis indicates that R&D expenditures in an IPO-Year is not a statistically significant variable in influencing stock performance.

This thesis is restricted to the Claremont Colleges current faculty, students, and staff. It is not available for interlibrary loan. Please send a request for access through Contact Us.

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