Law, Stock Markets, and Innovation
نویسندگان
چکیده
منابع مشابه
Power law and evolutionary trends in stock markets
We model the distribution of daily stock trading volume using the power law and document a new phenomenon. The power law exponent systematically increases with time suggesting that trading is becoming increasingly concentrated in a subset of stocks. © 2007 Elsevier B.V. All rights reserved.
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Europe’s ’New’ Stock Markets* The creation of Europe’s ‘new’ stock markets represents a major experiment in market design with important implications for the ability to support innovative, fast-growing companies. We evaluate the success of these markets based on a large number of measures of firm performance and strategy, which extend to several preand post-listing years. Our handcollected data...
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This paper examines the effects of firm-level innovation in carbon-abatement technologies on optimal cap-and-trade schemes with and without price controls. We characterize optimal cap-and-trade regulation with price cap and price floor, and compare it to the special cases of pure taxation and simple emissions cap. Innovation shifts the tradeoff between priceand quantity-based instruments toward...
متن کاملInnovation , tort law , and competition
In this paper, we examine the link between innovative activity on the part of firms, the competitive pressure to introduce innovations and optimal damages awards. While innovative activity brings forth valuable new products for consumers, competitive pressure in the ensuing innovation race induces firms to launch innovations too early, thereby raising the likelihood of severe product risks abov...
متن کاملDoes innovation in obesity drugs affect stock markets? An event study analysis.
OBJECTIVE This study empirically analyzes the effects of public information about the pharmaceutical R&D process on the market valuation of the sponsoring firm. We examined the market's response to scientific news and regulatory decisions about an antiobesity drug, rimonabant, and the effects on the sponsoring company (Sanofi-Aventis) and its incumbent competitors (Abbott and Roche). METHODS ...
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ژورنال
عنوان ژورنال: The Journal of Finance
سال: 2013
ISSN: 0022-1082
DOI: 10.1111/jofi.12040