Three Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation PDF Download
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Author: Iván Blanco
Publisher: Ed. Universidad de Cantabria
ISBN: 8481028770
Category : Business & Economics
Languages : en
Pages : 90
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Book Description
Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.
Author: Iván Blanco
Publisher: Ed. Universidad de Cantabria
ISBN: 8481028770
Category : Business & Economics
Languages : en
Pages : 90
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Book Description
Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.
Author: Brent Daniel Goldfarb
Publisher:
ISBN:
Category :
Languages : en
Pages : 314
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Book Description
Author: Adam B. Jaffe
Publisher: MIT Press
ISBN: 9780262600651
Category : Business & Economics
Languages : en
Pages : 502
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Book Description
A study of how patents and citation data can serve empirical research on innovation and technological change.
Author: Yanrui Wu
Publisher: World Scientific
ISBN: 9814439851
Category : Political Science
Languages : en
Pages : 350
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Book Description
China has enjoyed unprecedented high economic growth for three decades. This growth has however been unbalanced and has led to some serious consequences which Chinese policy makers are now trying to rectify. One of the consequences is the deterioration of regional disparity which is threatening the stability of the Chinese society and hence the sustainability of current high economic growth in the country. This edited volume on China''s regional development and economic growth is hence timely and contains a collection of the latest research reports in this field. The authors represent a distinguished group of economists in Australia, China, Japan and Vietnam who are actively engaged in research of the Chinese economy. The topics addressed in the chapters cover important regional issues such as inequality, distribution of the creative class, FDI and industrial policies. Specifically, this volume aims to examine selected issues associated with China''s regional development, economic growth and FDI, and China and its neighboring economies. The findings will contribute to current economic policy debates.
Author: Kim Weonseek
Publisher:
ISBN:
Category :
Languages : en
Pages : 308
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Book Description
Author: Wassily Leontief
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 184
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Book Description
Author: Ibolya Schindele
Publisher: Rozenberg Publishers
ISBN: 9051709471
Category : Contracts
Languages : en
Pages : 181
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Book Description
Author: Hanns Ullrich
Publisher: Edward Elgar Publishing
ISBN: 103533982X
Category : Law
Languages : en
Pages : 237
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Book Description
The fields of intellectual property have broadened and deepened in so many ways that commentators struggle to keep up with the ceaseless rush of developments and hot topics. Kritika: Essays on Intellectual Property is a series that is designed to help authors escape this rush. It creates a forum for authors who wish to more deeply question, investigate and reflect upon the evolving themes and principles of the discipline.
Author: Souresh Saha
Publisher:
ISBN:
Category :
Languages : en
Pages : 194
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Book Description
Author: Ajay Agrawal
Publisher: University of Chicago Press
ISBN: 0226833127
Category : Business & Economics
Languages : en
Pages : 172
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Book Description
A timely investigation of the potential economic effects, both realized and unrealized, of artificial intelligence within the United States healthcare system. In sweeping conversations about the impact of artificial intelligence on many sectors of the economy, healthcare has received relatively little attention. Yet it seems unlikely that an industry that represents nearly one-fifth of the economy could escape the efficiency and cost-driven disruptions of AI. The Economics of Artificial Intelligence: Health Care Challenges brings together contributions from health economists, physicians, philosophers, and scholars in law, public health, and machine learning to identify the primary barriers to entry of AI in the healthcare sector. Across original papers and in wide-ranging responses, the contributors analyze barriers of four types: incentives, management, data availability, and regulation. They also suggest that AI has the potential to improve outcomes and lower costs. Understanding both the benefits of and barriers to AI adoption is essential for designing policies that will affect the evolution of the healthcare system.
