Three Essays on Firm Learning PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Three Essays on Firm Learning PDF full book. Access full book title Three Essays on Firm Learning by William Martín Tracy. Download full books in PDF and EPUB format.
Author: William Martín Tracy
Publisher:
ISBN:
Category : Economics, Mathematical
Languages : en
Pages : 320
Get Book Here
Book Description
Author: William Martín Tracy
Publisher:
ISBN:
Category : Economics, Mathematical
Languages : en
Pages : 320
Get Book Here
Book Description
Author: Iván Blanco
Publisher: Ed. Universidad de Cantabria
ISBN: 8481028770
Category : Business & Economics
Languages : en
Pages : 90
Get Book Here
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: Martin Shubik
Publisher: MIT Press
ISBN: 9780262693110
Category : Business & Economics
Languages : en
Pages : 472
Get Book Here
Book Description
This first volume in a three-volume exposition of Shubik's vision of "mathematical institutional economics" explores a one-period approach to economic exchange with money, debt, and bankruptcy. This is the first volume in a three-volume exposition of Martin Shubik's vision of "mathematical institutional economics"--a term he coined in 1959 to describe the theoretical underpinnings needed for the construction of an economic dynamics. The goal is to develop a process-oriented theory of money and financial institutions that reconciles micro- and macroeconomics, using as a prime tool the theory of games in strategic and extensive form. The approach involves a search for minimal financial institutions that appear as a logical, technological, and institutional necessity, as part of the "rules of the game." Money and financial institutions are assumed to be the basic elements of the network that transmits the sociopolitical imperatives to the economy. Volume 1 deals with a one-period approach to economic exchange with money, debt, and bankruptcy. Volume 2 explores the new economic features that arise when we consider multi-period finite and infinite horizon economies. Volume 3 will consider the specific role of financial institutions and government, and formulate the economic financial control problem linking micro- and macroeconomics.
Author: Donald Karl Stockdale
Publisher:
ISBN:
Category : Antitrust law
Languages : en
Pages : 288
Get Book Here
Book Description
Author: Achim Gutowski
Publisher:
ISBN: 3643961731
Category : Economic development
Languages : en
Pages : 582
Get Book Here
Book Description
Author: G. Harcourt
Publisher: Springer
ISBN: 1137475323
Category : Business & Economics
Languages : en
Pages : 330
Get Book Here
Book Description
Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile bring together a collection of their most influential papers on post-Keynesian thought. Their work stresses the importance of the underlying institutional framework, of the economy as a historical process and, therefore, of path determinacy. In addition, their essays suggest the ultimate goal of economics is as a tool to inform policy and make the world a better place, with better being defined by an overriding concern with social justice. Volume III explores the ethics of economics.
Author: David J. Teece
Publisher: World Scientific
ISBN: 9789810244477
Category : Technology & Engineering
Languages : en
Pages : 528
Get Book Here
Book Description
This book examines the manner in which successful firms develop, transfer, protect, and capture value from technological innovation. In essence, it is about ?knowledge management?, which lies at the foundation of firm level competitive advantage in today's global economy. The essays contain some of the fundamental contributions to the field of knowledge management by one of its best-known thinkers; they also constitute an immensely practical guide for those managers who wish to look below the surface of what is going on in Silicon Valley and elsewhere.
Author: Chun-gyŏng Pak
Publisher:
ISBN:
Category :
Languages : en
Pages : 114
Get Book Here
Book Description
Author: Jorge Mario Uribe Gil
Publisher: Ed. Universidad de Cantabria
ISBN: 8417888756
Category : Business & Economics
Languages : en
Pages : 212
Get Book Here
Book Description
This book adds to the resolution of two problems in finance and economics: i) what is macro-financial uncertainty? : How to measure it? How is it different from risk? How important is it for the financial markets? And ii) what sort of asymmetries underlie financial risk and uncertainty propagation across the global financial markets? That is, how risk and uncertainty change according to factors such as market states or market participants. In Chapter 2, which is entitled “Momentum Uncertainties”, the relationship between macroeconomic uncertainty and the abnormal returns of a momentum trading strategy in the stock market is studies. We show that high levels of uncertainty in the economy impact negatively and significantly the returns of a portfolio of stocks that consist of buying past winners and selling past losers. High uncertainty reduces below zero the abnormal returns of momentum, extinguishes the Sharpe ratio of the momentum strategy, while increases the probability of momentum crashes both by increasing the skewness and the kurtosis of the momentum return distribution. Uncertainty acts as an economic regime that underlies abrupt changes over time of the returns generated by momentum strategies. In Chapter 3, “Measuring Uncertainty in the Stock Market”, a new index for measuring stock market uncertainty on a daily basis is proposed. The index considers the inherent differentiation between uncertainty and the common variations between the series. The second contribution of chapter 3 is to show how this financial uncertainty index can also serve as an indicator of macroeconomic uncertainty. Finally, the dynamic relationship between uncertainty and the series of consumption, interest rates, production and stock market prices, among others, is analized. In chapter 4: “Uncertainty, Systemic Shocks and the Global Banking Sector: Has the Crisis Modified their Relationship?” we explore the stability of systemic risk and uncertainty propagation among financial institutions in the global economy, and show that it has remained stable over the last decade. Additionally, a new simple tool for measuring the resilience of financial institutions to these systemic shocks is provided. We examine the characteristics and stability of systemic risk and uncertainty, in relation to the dynamics of the banking sector stock returns. This sort of evidence is supportive of past claims, made in the field of macroeconomics, which hold that during the global financial crisis the financial system may have faced stronger versions of traditional shocks rather than a new type of shock. In chapter 5, “Currency downside risk, liquidity, and financial stability”, downside risk propagation across global currency markets and the ways in which it is related to liquidity is analyzed. Two primary contributions to the literature follow. First, tail-spillovers between currencies in the global FX market are estimated. This index is easy to build and does not require intraday data, which constitutes an important advantage. Second, we show that turnover is related to risk spillovers in global currency markets. Chapter 6 is entitled “Spillovers from the United States to Latin American and G7 Stock Markets: A VAR-Quantile Analysis”. This chapter contributes to the studies of contagion, market integration and cross-border spillovers during both regular and crisis episodes by carrying out a multivariate quantile analysis. It focuses on Latin American stock markets, which have been characterized by a highly positive dynamic in recent decades, in terms of market capitalization and liquidity ratios, after a far-reaching process of market liberalization and reforms to pension funds across the continent during the 80s and 90s. We document smaller dependences between the LA markets and the US market than those between the US and the developed economies, especially in the highest and lowest quantiles.
Author: Harald Pechlaner
Publisher: Routledge
ISBN: 1317162900
Category : Business & Economics
Languages : en
Pages : 183
Get Book Here
Book Description
Dr Pechlaner and Dr Innerhofer, the editors of Competence-Based Innovation in Hospitality and Tourism, argue that the industry operates within highly challenging and competitive environments. Changing environmental and market conditions continually force hotel businesses and service providers to offer their customers new and modified products and services, in order to remain competitive; those which respect value perceptions of markets and sustainable stakeholder reactions. This then raises the question of how innovations within this industry must be developed in order to achieve competitive differentiation. The book demonstrates that the development and analysis of successful innovation strategies should integrate the resource-based view and its advancements, the competence-based view, as well as the dynamic capabilities approach and the relational view. Resource-based strategic management approaches view the firm as a bundle of resources and competences. They point to the importance of firm-specific resources and competences in explaining variations in competitive positions and performance differentiation between companies. The challenge of hospitality and tourism is to develop resources and competences that drive innovations. This book will serve to advance the status quo of tourism research literature by combining innovation theories with network theories and tourism and destination development, by illustrating the development of cooperative competences and innovations in tourism and by showing, in a tailored way, how the challenge of the development of resources and competences that drive innovations in tourism can be managed.
