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Argosy University, College of Business

Dear Participant,

Accounting is a social science that affects, and is affected by the society’s needs and demands. From this view the researcher is conducting a doctorate dissertation as a partial requirement for degree of Doctor of Business Administration on the impact of research and development (R&D) investments on accuracy of earnings forecasts and average annual rate of return on stocks. The researcher will examine the effect of using non-financial disclosures to increase the accuracy of earnings forecasts, and examine the effect of increasing R&D expenses on the average annual return on stocks.
Your effective cooperation in answering this questionnaire is essential and important in understanding if effectiveness of earnings forecast in wireless communications industry can be improved by incorporating R&D investments. Your opinions and suggestions will add value to the literature that can be useful to accounting professionals.
 
 
 
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Years of Experience:
   
 
 
Part One: Different financial and non-financial models used for R&D valuation, and expensing versus capitalizing R&D costs.
Agree Disagree Not Sure
Use of non-financial factors for R&D valuation will improve the value assessment and efficiency of R&D investments.
Capitalizing R&D costs will increase the accuracy of earnings forecasts.
Capitalizing R&D costs will boost investors’ assessments on prospected rate of return on shares.
Accountants and financial managers prefer the use of financial models for R&D valuation over non-financial ones.
R&D financial valuation models are preferred by accountants and financial managers because they provide comparable results.
Accountants are more concerned with measuring R&D expenses than the results of R&D investments.
 
 
Part Two: Limitations of financial information,
Agree Disagree Not Sure
Accountants and financial managers usually prefer use of financial information over non-financial information in the process of earnings forecasts.
Financial information is sufficient to be used for financial forecasting.
Financial information is easier to use for financial forecasting than non-financial information.
Financial disclosures related to R&D investments do not provide information about future benefits of the investments.
Financial disclosures create information gap between investors and management.
 
 
Part Three: Importance and use of non-financial disclosures,
Agree Disagree Not Sure
Non-financial disclosures related to R&D investments will improve accuracy of earnings forecasts.
Increasing accuracy of earnings forecasts improves effectiveness of investors’ decision making.
Non-financial disclosures related to R&D investments improve transparency of the financial reports.
Non-financial disclosures reduce the agency problem between managers and investors.
Non-financial disclosures decrease likelihood of bias in the financial forecasts.
Disclosing a firm’s future plans and projects as related to R&D investments will improve accuracy of financial forecasts.
Disclosing management strategies for R&D spending will improve accuracy of financial forecasts.
Disclosing R&D’s source of funding will improve accuracy of financial forecasts.
 
 
Part Four: Effect of R&D expenditures on stock’s return in capital markets,
Agree Disagree Not Sure
R&D investments positively affect rate of return on the firm’s share.
The number and quality of patents are good indicators for evaluating the output of R&D investments.
R&D investments are underpriced in the US capital markets.
R&D non-financial disclosures positively influence the firm’s stock price in capital markets.
Increasing the output of R&D investments will increase rate of return on the firm’s share.
 
Copyright Mai Beshady, 2014