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The impact of the diffusion of a financial innovation on company performance: an analysis of SWIFT adoption

Scott, Susan V.; Zachariadis, Markos - London School of Economics (LSE) - 2010

How does a major financial network innovation influence firm performance? Despite muchspeculation we have little hard quantitative evidence about the impact of technology diffusionin financial services. In this paper we use the entire adoption history for SWIFT (the Societyfor Worldwide...

Persistent link: https://www.econbiz.de/10010744922

Entry, standards and competition : firm strategies and the diffusion of mobile telephony

Koski, Heli; Kretschmer, Tobias - London School of Economics (LSE) - 2005

prices and diffusion. We address the question of non-random selection arising from cross-country differences in the timing of … be a substantial problem in cross-country studies on technology diffusion and yield biased estimates of the policy … variables of interest. Our estimation results suggest that standardization accelerates 2G entry and diffusion, although within …

Persistent link: https://www.econbiz.de/10010746333

Patents and the global diffusion of new drugs

Cockburn, Iain; Lanjouw, Jean O.; Schankerman, Mark - London School of Economics (LSE) - 2014

more profitable, also speed up diffusion. The effects are robust to using instruments to control for endogeneity of policy … regimes. The results point to an important role for patents and other policy choices in driving the diffusion of new …

Persistent link: https://www.econbiz.de/10011126137

Conditional spatial policy dependence: theory and model specification

Neumayer, Eric; Plümper, Thomas - London School of Economics (LSE) - 2012

The authors discuss how scholars can bring theories of spatial policy dependence and empirical model specifications closer in line so that the empirical analysis actually tests the theoretical predictions. Comprehensive theories of spatial policy dependence typically suggest that the...

Persistent link: https://www.econbiz.de/10011071085

Globalization and the empowerment of women: an analysis of spatial dependence via trade and foreign direct investment

Neumayer, Eric; De Soysa, Indra - London School of Economics (LSE) - 2011

Previous studies of globalization’s effects on women’s rights have mostly focused on employment and wage ratios, but even if women’s earnings improve, they might suffer greater exploitation at work and at home. Further, these studies use general measures of a country’s openness to trade...

Persistent link: https://www.econbiz.de/10011071366

Uncertainty and investment dynamics

Van Reenen, John; Bloom, Nick; Bond, Steve - London School of Economics (LSE) - 2006

This paper shows that, with (partial) irreversibility, higher uncertainty reduces the impact effect of demand shocks on investment. Uncertainty increases real option values making firms more cautious when investing or disinvesting. This is confirmed both numerically for a model with a rich mix...

Persistent link: https://www.econbiz.de/10010928730

The impact of uncertainty shocks: firm level estimation and a 9/11 simulation

Bloom, Nick - London School of Economics (LSE) - 2006

Uncertainty appears to vary strongly over time, temporarily rising by up to 200% around major shocks like the Cuban Missile crisis, the assassination of JFK and 9/11. This paper offers the first structural framework to analyze uncertainty shocks. I build a model with a time varying second...

Persistent link: https://www.econbiz.de/10010744930

Investment timing under incomplete information

Décamps, Jean-Paul; Mariotti, Thomas; Villeneuve, Stephane - London School of Economics (LSE) - 2003

We study the decision of when to invest in an indivisible project whose value is perfectly observable but driven by a parameter that is unknown to the decision maker ex ante. This problem is equivalent to an optimal stopping problem for a bivariate Markov process. Using filtering and martingale...

Persistent link: https://www.econbiz.de/10010745422

Trade and uncertainty

Novy, Dennis; Taylor, Alan M. - London School of Economics (LSE) - 2014

We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy. Firms import intermediate inputs from home or...

Persistent link: https://www.econbiz.de/10011125941

Uncertainty and the dynamics of R&D

Bloom, Nick - London School of Economics (LSE) - 2007

Uncertainty varies strongly over time, rising by 50% to 100% in recessions and by up to 200% after major economic and political shocks. This paper shows that higher uncertainty reduces the responsiveness of R&D to changes in business conditions - a “caution-effect” - making it more...

Persistent link: https://www.econbiz.de/10011071505