Stock Price Volatility and Technological Change

Stock Price Volatility and Technological Change PDF Author: Mariana Mazzucato
Publisher: Edward Elgar Pub
ISBN: 9781848443525
Category : Business & Economics
Languages : en
Pages : 224

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Book Description
This informative book studies the relationship between the volatility of stock prices and radical innovation in firms and industries. the inherent uncertainty in innovation, and the effect this has on future expected growth prospects of firms, is used to interpret how stock price volatility changes over the course of industry evolution. In doing so, it provides a Schumpeterian view of time varying risk and stock price bubbles, which applies as much to today's dynamic high tech industries as to 'mature' industries a century ago. the book provides firm level evidence that supports Carlota Perez's Technological Revolutions and Financial Capital.