at the technology frontier through a simple process of technological transfers, we are able to show that education … quality not only speeds up the process of technology diffusion but it also helps account for 45-53 per cent of differences in … labor productivity. As we argue, failure to control for the gap in technology levels between the leader and the follower …

valuation of firms in the transition as technology changes, and whether or not share prices are always increasing when … technology improves. We find that there can be a U-shaped transition dynamic, so that an initial boom in share price is followed … by a temporary fall in share price even though the underlying technology is improving. …

Technology spillovers have previously been shown to positively affect a firm's market value and innovation activities …. We build on this literature by showing that value-relevant information from technology spillovers significantly reduces … potential endogeneity. We further demonstrate two likely channels for the crash risk-reducing effect of technology spillovers …