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A Theory of Firm Characteristics and Stock Returns : The Role of Investment-Specific Shocks

Kogan, Leonid - 2012

firm characteristics - Tobin's Q, past investment, earnings-price ratios, market betas, and idiosyncratic volatility of … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend … strips. Our model delivers testable predictions about the behavior of firm-level real variables - investment and output …

Persistent link: https://www.econbiz.de/10012460684

R&D, Production Structure and Productivity Growth : A Comparison of the US, Japanese and Korean Manufacturing Sectors

Nadiri, M. Ishaq - 1996

We estimate and compare the production structures of the US, Japanese, and Korean total manufacturing sectors for the 1974-1990 period. We employ a translog variable cost function that includes such inputs as labor, materials, physical and R&D capital with the physical and R&D capital treated as...

Persistent link: https://www.econbiz.de/10012473353

Patents, R and D, and the Stock Market Rate of Return

Pakes, Ariel - 1981

stock market that evaluates this expectation at different dates (it is a version of the Lucas-Prescott, 1971, investment …

Persistent link: https://www.econbiz.de/10012478327

Stronger Protection or Technological Revolution : What is Behind the Recent Surge in Patenting?

Kortum, Samuel - 1997

We investigate the cause of an unprecedented surge of U.S. patenting over the past" decade. Conventional wisdom points to the establishment of the Court of Appeals of the" Federal Circuit by Congress in 1982. We examine whether this institutional change benefitted patent holders, explains the...

Persistent link: https://www.econbiz.de/10012472610

A Model of Research, Patenting, and Technological Change

Kortum, Samuel - 1994

I use the aggregate behavior of three indicators of technology (employment of research scientists and engineers, patented inventions, and total factor productivity) to identify a plausible model of endogenous technological change. In the US (as well as in other developed countries) research...

Persistent link: https://www.econbiz.de/10012474290

Patent Statistics as Economic Indicators : A Survey

Griliches, Zvi - 1990

This survey reviews the growing use of patent data in economic analysis. After describing some of the main characteristics of patents and patent data, it focuses on the use of patents as an indicator of technological change. Cross-sectional and time-series studies of the relationship of patents...

Persistent link: https://www.econbiz.de/10012475734

Vertical Integration and Technology : Theory and Evidence

Acemoglu, Daron - 2004

vertical integration in terms of investment incentives …

Persistent link: https://www.econbiz.de/10012467690

The Race Between Machine and Man : Implications of Technology for Growth, Factor Shares and Employment

Acemoglu, Daron - 2016

We examine the concerns that new technologies will render labor redundant in a framework in which tasks previously performed by labor can be automated and new versions of existing tasks, in which labor has a comparative advantage, can be created. In a static version where capital is fixed and...

Persistent link: https://www.econbiz.de/10012456424

Too Much of a Good Thing? The Economics of Investment in R&D

Jones, Charles I. - 1999

Research and development (R&D) is a key determinant of long run productivity and welfare. A central issue is whether a decentralized economy undertakes too little or too much R&D. We develop an endogenous growth model that incorporates parametrically four important distortions to R&D: the...

Persistent link: https://www.econbiz.de/10012471500

Empirical Patterns of Firm Growth and R&D Investment : A QuUality LadderModel Interpretation

Klette, Tor Jakob - 1998

We present a model of endogenous firm growth with R&D investment and stochastic innovation as the engines of growth …) firm growth independent of firm size, as stated in the so-called Gibrat's law, and (iii) R&D investment proportional to …

Persistent link: https://www.econbiz.de/10012472060

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