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Product differentiation and systematic risk: theory and empirical evidence
Bazdresch, Santiago - Volkswirtschaftliche Fakultät, … - 2011
Firms producing differentiated products have high margins and therefore low risk. As a result firms invest more into developing differentiated products when they perceive risk is high. Higher risk also implies higher product skewness towards more differentiated products and therefore higher...
Persistent link: https://www.econbiz.de/10009397195
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White-collar crime and stock return: Empirical study from announcement effect
Puah, Chin-Hong; Liew, Samuel Wei-Siew - Volkswirtschaftliche Fakultät, … - 2011
White-collar crime continues to hit the headlines across Malaysia and it remains a serious issue influencing organizations globally. A share price event study is thus conducted on a group of public listed companies in Malaysia to examine the announcement effect of white-collar crime. The period...
Persistent link: https://www.econbiz.de/10009147675
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Switching from Patents to an Intertemporal Bounty in a Non-Scale Growth Model: Transitional Dynamics and Welfare Evaluation
Lin, Hwan C. - Volkswirtschaftliche Fakultät, … - 2012
The prize system for innovation has been criticized as impractical due to the lack of a workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinitely time domain as periodic bounties paid to holders of …
Persistent link: https://www.econbiz.de/10011259176
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Switching from Patents to an Intertemporal Bounty in a Non-Scale Growth Model
Lin, Hwan C. - Volkswirtschaftliche Fakultät, … - 2012
The prize system for innovation has been criticized as impractical due to the lack of any workable formula or algorithm … can function to duplicate Pareto optimality. Under this system, any bountiable innovation is placed in the public domain …, and the prize of innovation is dynamically amortized in an infinite time domain as periodic bounties paid to holders of …
Persistent link: https://www.econbiz.de/10010729014
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Measuring the Rate of Obsolescence of Patents in Japanese Manufacturing Firms
Nakanishi, Yasuo; Yamada, Setsuo - Volkswirtschaftliche Fakultät, … - 2008
This article assesses the rate of obsolescence of patents with measurements of the rate in Japan. Our study departs from Parkes and Schankerman (1989) and Schankerman (1998) because of its application of the ordered probit model. The application of this model enables us to consider the case of...
Persistent link: https://www.econbiz.de/10005836191
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Valuation of innovation: The case of iPhone
Korkeamäki, Timo; Takalo, Tuomas - Volkswirtschaftliche Fakultät, … - 2010
patent publications related to the innovation. Our estimate of the lower bound on the market valuation of iPhone is fairly … the publication of patent documents concerning iPhone can be observed. The evidence suggests that the value of iPhone …
Persistent link: https://www.econbiz.de/10008794653
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Oil Crisis, Energy-Saving Technological Change and the Stock Market Crash of 1973-74
Alpanda, Sami; Peralta-Alva, Adrian - Volkswirtschaftliche Fakultät, … - 2007
more than doubled by the end of the decade, increasing energy costs and spurring innovation in energy-saving technologies …
Persistent link: https://www.econbiz.de/10005621335
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Dynamic Trading When You May Be Wrong
Remorov, Alexander - Volkswirtschaftliche Fakultät, … - 2015
I analyze a model with heterogeneous investors who have incorrect beliefs about fundamentals. Investors think that they are right at first, but over time realize that they are wrong. The speed of the realization depends on investor confidence in own beliefs and arrival of new information. The...
Persistent link: https://www.econbiz.de/10011267843
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Oferta Pública Inicial (IPO) de ações no Brasil: uma análise dos retornos da IPO de ações com baixo Índice Preço/Lucro (P/L)
Saturnino, Odilon; Saturnino, Valéria; Lucena, Pierre; … - Volkswirtschaftliche Fakultät, … - 2012
The Brazilian capital market has been in the last 10 years a attractive space for negotiations and opening of company’s capital. The early studies of market anomalies that are looking for evidence on reasons of understatement and overstatement at the time of the IPO in Brazil date back to...
Persistent link: https://www.econbiz.de/10011259115
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Institutions for Healthy Assets Market and Economy: A Retrospect for Indonesia before 1997
Simarmata, Djamester A. - Volkswirtschaftliche Fakultät, … - 2005
Abstract The financial market is a subset of assets market. Its efficiency is very important for economic development, functioning as a screening institution for investments. The property sector is another group, comprising urban land. Urbanization is unavoidable, but very important for...
Persistent link: https://www.econbiz.de/10011259595