{"id":7862,"date":"2019-02-26T00:00:00","date_gmt":"2019-02-26T00:00:00","guid":{"rendered":"https:\/\/business.uc3m.es\/\/news\/174\/"},"modified":"2025-11-17T16:05:21","modified_gmt":"2025-11-17T16:05:21","slug":"174","status":"publish","type":"news","link":"https:\/\/business.uc3m.es\/es\/news\/174\/","title":{"rendered":"UC3M difunde la investigaci\u00f3n de nuestro profesorado"},"content":{"rendered":"<\/p>\n

La inversi\u00f3n en I+D es importante para las empresas, ya que es un elemento determinante para sus beneficios y su crecimiento a largo plazo. Sin embargo, no todas las empresas invierten de manera \u00f3ptima en innovaci\u00f3n. Existen diversas variables que pueden distorsionar tales decisiones de inversi\u00f3n. Un estudio reciente llevado a cabo por investigadores de la Universidad Carlos III de Madrid (UC3M), en colaboraci\u00f3n con la Universidad Aut\u00f3noma de Barcelona (UAB), estudia el papel de los analistas financieros en las decisiones de financiaci\u00f3n de la innovaci\u00f3n en las empresas. Este estudio concluye que los analistas financieros pueden ayudar a las empresas a invertir m\u00e1s eficientemente en innovaci\u00f3n y as\u00ed producir un mayor n\u00famero de patentes y de mejor calida.<\/p>\n

Research video<\/a><\/p>\n

Referencia:<\/span><\/p>\n

Bing Guo, David P\u00e9rez-Castrillo, Anna Toldr\u00e0-Simats. 2019. Firms\u2019 innovation strategy under the shadow of analyst coverage. Journal of Financial Economics<\/span>, <\/span>131(2), 456-483.\u00a0\u00a0<\/span>https:\/\/doi.org\/10.1016\/j.jfineco.2018.08.005<\/a><\/p>\n

Abstract<\/p>\n

We study the effect of analyst coverage on firms\u2019 innovation strategy and outcome. Using data from US firms from 1990 to 2012, we find evidence that an increase in financial analysts leads firms to cut research and development expenses, acquire more innovative firms, and invest in corporate venture capital. We attribute the first result to the effect of analyst pressure and the others to the informational role of analysts. We also find that financial analysts encourage firms to make more efficient investments related to innovation, which increases their future patents and citations and influences the novelty of their innovations.<\/p><\/p>\n","protected":false},"featured_media":1482,"template":"","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}}},"class_list":["post-7862","news","type-news","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/business.uc3m.es\/es\/wp-json\/wp\/v2\/news\/7862","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/business.uc3m.es\/es\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/business.uc3m.es\/es\/wp-json\/wp\/v2\/types\/news"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/business.uc3m.es\/es\/wp-json\/wp\/v2\/media\/1482"}],"wp:attachment":[{"href":"https:\/\/business.uc3m.es\/es\/wp-json\/wp\/v2\/media?parent=7862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}