Matches in SemOpenAlex for { <https://semopenalex.org/work/W2214935054> ?p ?o ?g. }
- W2214935054 abstract "We find that firms facing high innovation competition earn significantly higher stock returns, even after controlling for common return determinants such as firm size, book-to-market equity ratio, momentum, leverage, firm-level R&D and patent activities. The result holds with different measures of innovation competition. More importantly, the innovation competition premium is distinct from and even subsumes the effects of product market competition documented earlier in the literature. We posit that the premium arises to offset the additional risks from the uncertainty in cash flows and the deterioration in the firms’ assets in place resulting from the more intense technology competition. Our empirical results on the level of riskiness and additional time-series tests strongly support the hypothesis. Overall, the current evidence suggests that the level of innovation competition is an important risk factor." @default.
- W2214935054 created "2016-06-24" @default.
- W2214935054 creator A5007231713 @default.
- W2214935054 date "2013-01-01" @default.
- W2214935054 modified "2023-09-27" @default.
- W2214935054 title "Innovation Competition and Average Stock Returns" @default.
- W2214935054 cites W1497789111 @default.
- W2214935054 cites W1929739037 @default.
- W2214935054 cites W1966381776 @default.
- W2214935054 cites W1995834279 @default.
- W2214935054 cites W1996213352 @default.
- W2214935054 cites W200034327 @default.
- W2214935054 cites W2004820580 @default.
- W2214935054 cites W2014256903 @default.
- W2214935054 cites W2015540473 @default.
- W2214935054 cites W2018655489 @default.
- W2214935054 cites W2037079167 @default.
- W2214935054 cites W2038993927 @default.
- W2214935054 cites W2047134779 @default.
- W2214935054 cites W2048210280 @default.
- W2214935054 cites W2104795328 @default.
- W2214935054 cites W2112881872 @default.
- W2214935054 cites W2124298085 @default.
- W2214935054 cites W2124934663 @default.
- W2214935054 cites W2125520394 @default.
- W2214935054 cites W2131190424 @default.
- W2214935054 cites W2136120210 @default.
- W2214935054 cites W2141833870 @default.
- W2214935054 cites W2144487825 @default.
- W2214935054 cites W2146188630 @default.
- W2214935054 cites W2147335100 @default.
- W2214935054 cites W2154742245 @default.
- W2214935054 cites W2156576580 @default.
- W2214935054 cites W2161503792 @default.
- W2214935054 cites W2166215547 @default.
- W2214935054 cites W3121282535 @default.
- W2214935054 cites W3121300545 @default.
- W2214935054 cites W3121960271 @default.
- W2214935054 cites W3122731611 @default.
- W2214935054 cites W3123059183 @default.
- W2214935054 cites W3124572701 @default.
- W2214935054 cites W45374089 @default.
- W2214935054 doi "https://doi.org/10.2139/ssrn.2295519" @default.
- W2214935054 hasPublicationYear "2013" @default.
- W2214935054 type Work @default.
- W2214935054 sameAs 2214935054 @default.
- W2214935054 citedByCount "0" @default.
- W2214935054 crossrefType "journal-article" @default.
- W2214935054 hasAuthorship W2214935054A5007231713 @default.
- W2214935054 hasConcept C10138342 @default.
- W2214935054 hasConcept C106159729 @default.
- W2214935054 hasConcept C119857082 @default.
- W2214935054 hasConcept C123336316 @default.
- W2214935054 hasConcept C127413603 @default.
- W2214935054 hasConcept C144133560 @default.
- W2214935054 hasConcept C151541453 @default.
- W2214935054 hasConcept C153083717 @default.
- W2214935054 hasConcept C162324750 @default.
- W2214935054 hasConcept C163428354 @default.
- W2214935054 hasConcept C175444787 @default.
- W2214935054 hasConcept C18903297 @default.
- W2214935054 hasConcept C204036174 @default.
- W2214935054 hasConcept C29122968 @default.
- W2214935054 hasConcept C41008148 @default.
- W2214935054 hasConcept C556758197 @default.
- W2214935054 hasConcept C78519656 @default.
- W2214935054 hasConcept C86803240 @default.
- W2214935054 hasConcept C91306197 @default.
- W2214935054 hasConceptScore W2214935054C10138342 @default.
- W2214935054 hasConceptScore W2214935054C106159729 @default.
- W2214935054 hasConceptScore W2214935054C119857082 @default.
- W2214935054 hasConceptScore W2214935054C123336316 @default.
- W2214935054 hasConceptScore W2214935054C127413603 @default.
- W2214935054 hasConceptScore W2214935054C144133560 @default.
- W2214935054 hasConceptScore W2214935054C151541453 @default.
- W2214935054 hasConceptScore W2214935054C153083717 @default.
- W2214935054 hasConceptScore W2214935054C162324750 @default.
- W2214935054 hasConceptScore W2214935054C163428354 @default.
- W2214935054 hasConceptScore W2214935054C175444787 @default.
- W2214935054 hasConceptScore W2214935054C18903297 @default.
- W2214935054 hasConceptScore W2214935054C204036174 @default.
- W2214935054 hasConceptScore W2214935054C29122968 @default.
- W2214935054 hasConceptScore W2214935054C41008148 @default.
- W2214935054 hasConceptScore W2214935054C556758197 @default.
- W2214935054 hasConceptScore W2214935054C78519656 @default.
- W2214935054 hasConceptScore W2214935054C86803240 @default.
- W2214935054 hasConceptScore W2214935054C91306197 @default.
- W2214935054 hasLocation W22149350541 @default.
- W2214935054 hasOpenAccess W2214935054 @default.
- W2214935054 hasPrimaryLocation W22149350541 @default.
- W2214935054 hasRelatedWork W1486857453 @default.
- W2214935054 hasRelatedWork W1586718863 @default.
- W2214935054 hasRelatedWork W1605182622 @default.
- W2214935054 hasRelatedWork W1780036220 @default.
- W2214935054 hasRelatedWork W1964504269 @default.
- W2214935054 hasRelatedWork W2149486866 @default.
- W2214935054 hasRelatedWork W2185869726 @default.
- W2214935054 hasRelatedWork W2188726840 @default.
- W2214935054 hasRelatedWork W219791918 @default.
- W2214935054 hasRelatedWork W2594911034 @default.