Technological revolutions are often accompanied by substantial stock price reversals, but previous literature has produced competing explanations for why this is the case. This paper brings new evidence to this debate using data from the innovation-driven British Bicycle Mania of 1895-1900, in...

We theoretically and empirically analyze information generation by stock markets on economic prospects of innovations and the resultant feedback effect on firm-level innovation-related investment (IRI). By modeling the unique aspects of firm-specific and systematic drivers of innovation profits,...

The purpose of this paper was to measure the short- and long-term impact of innovation announcements on the stock returns of service companies. In order to study the predictors of the abnormal stock returns, the study takes the adoption and diffusion theory as its conceptual background. The...