How does the Medical Device Tax Affect firm R&D and Performance-Peking University HSBC Business School(PHBS)

How does the Medical Device Tax Affect firm R&D and Performance

2017-05-17 15:11:37

by Daeyong Lee, PHBS

Wednesday, May 17, 2017 | 12:00pm-1:00pm | Room 763, HSBC Business School Building

Abstract

This article examines how the excise tax affects firm research and development (R&D) investment and performance in the medical device industry. Using the Compustat data from 2006 and 2015, the author finds that the medical device tax significantly reduced the R&D investment, sales revenues, gross margins, earnings, and return on equity for medical device manufacturing firms. In addition, the device tax significantly increased their international sales revenue, international diversification, and customer diversification in the US markets.

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