Matches in SemOpenAlex for { <https://semopenalex.org/work/W2783809539> ?p ?o ?g. }
- W2783809539 endingPage "161" @default.
- W2783809539 startingPage "145" @default.
- W2783809539 abstract "A dynamic model featuring a stochastic technology frontier shows significant impact of technology adoption for asset prices. In equilibrium, firms operating with old capital are riskier because costly technology adoption restricts their flexibility in upgrading to the latest technology, making them more exposed to technology frontier shocks. Consistent with the model predictions, a long-short portfolio sorted on firm-level capital age earns an average value-weighted return of 9% per year among U.S. public companies. A proxy for technology frontier shocks captures the variation of the capital age portfolios with a positive risk price, corroborating the model mechanism." @default.
- W2783809539 created "2018-01-26" @default.
- W2783809539 creator A5026108678 @default.
- W2783809539 creator A5039385762 @default.
- W2783809539 creator A5059131844 @default.
- W2783809539 date "2020-11-01" @default.
- W2783809539 modified "2023-10-01" @default.
- W2783809539 title "The risks of old capital age: Asset pricing implications of technology adoption" @default.
- W2783809539 cites W1977394168 @default.
- W2783809539 cites W2014490788 @default.
- W2783809539 cites W2032961626 @default.
- W2783809539 cites W2058961435 @default.
- W2783809539 cites W2090467626 @default.
- W2783809539 cites W2104795328 @default.
- W2783809539 cites W2119742456 @default.
- W2783809539 cites W2122270438 @default.
- W2783809539 cites W2127058949 @default.
- W2783809539 cites W2168908523 @default.
- W2783809539 cites W2524931941 @default.
- W2783809539 cites W2525373672 @default.
- W2783809539 cites W2769274274 @default.
- W2783809539 cites W2772867840 @default.
- W2783809539 cites W3021190191 @default.
- W2783809539 cites W3121411892 @default.
- W2783809539 cites W3121790069 @default.
- W2783809539 cites W3121865372 @default.
- W2783809539 cites W3122374802 @default.
- W2783809539 cites W3122649028 @default.
- W2783809539 cites W3122681564 @default.
- W2783809539 cites W3123178375 @default.
- W2783809539 cites W3123992882 @default.
- W2783809539 cites W3124294703 @default.
- W2783809539 cites W3125206904 @default.
- W2783809539 cites W3125215787 @default.
- W2783809539 cites W3125877486 @default.
- W2783809539 cites W4236290419 @default.
- W2783809539 cites W4237239309 @default.
- W2783809539 doi "https://doi.org/10.1016/j.jmoneco.2019.06.001" @default.
- W2783809539 hasPublicationYear "2020" @default.
- W2783809539 type Work @default.
- W2783809539 sameAs 2783809539 @default.
- W2783809539 citedByCount "21" @default.
- W2783809539 countsByYear W27838095392015 @default.
- W2783809539 countsByYear W27838095392018 @default.
- W2783809539 countsByYear W27838095392019 @default.
- W2783809539 countsByYear W27838095392020 @default.
- W2783809539 countsByYear W27838095392021 @default.
- W2783809539 countsByYear W27838095392022 @default.
- W2783809539 countsByYear W27838095392023 @default.
- W2783809539 crossrefType "journal-article" @default.
- W2783809539 hasAuthorship W2783809539A5026108678 @default.
- W2783809539 hasAuthorship W2783809539A5039385762 @default.
- W2783809539 hasAuthorship W2783809539A5059131844 @default.
- W2783809539 hasConcept C10138342 @default.
- W2783809539 hasConcept C106159729 @default.
- W2783809539 hasConcept C119857082 @default.
- W2783809539 hasConcept C126285488 @default.
- W2783809539 hasConcept C149782125 @default.
- W2783809539 hasConcept C162324750 @default.
- W2783809539 hasConcept C166957645 @default.
- W2783809539 hasConcept C172497479 @default.
- W2783809539 hasConcept C175444787 @default.
- W2783809539 hasConcept C181236170 @default.
- W2783809539 hasConcept C187736073 @default.
- W2783809539 hasConcept C2776318286 @default.
- W2783809539 hasConcept C2778571376 @default.
- W2783809539 hasConcept C2780148112 @default.
- W2783809539 hasConcept C2780598303 @default.
- W2783809539 hasConcept C2780821815 @default.
- W2783809539 hasConcept C38652104 @default.
- W2783809539 hasConcept C41008148 @default.
- W2783809539 hasConcept C489367 @default.
- W2783809539 hasConcept C556758197 @default.
- W2783809539 hasConcept C76178495 @default.
- W2783809539 hasConcept C83646750 @default.
- W2783809539 hasConcept C95457728 @default.
- W2783809539 hasConceptScore W2783809539C10138342 @default.
- W2783809539 hasConceptScore W2783809539C106159729 @default.
- W2783809539 hasConceptScore W2783809539C119857082 @default.
- W2783809539 hasConceptScore W2783809539C126285488 @default.
- W2783809539 hasConceptScore W2783809539C149782125 @default.
- W2783809539 hasConceptScore W2783809539C162324750 @default.
- W2783809539 hasConceptScore W2783809539C166957645 @default.
- W2783809539 hasConceptScore W2783809539C172497479 @default.
- W2783809539 hasConceptScore W2783809539C175444787 @default.
- W2783809539 hasConceptScore W2783809539C181236170 @default.
- W2783809539 hasConceptScore W2783809539C187736073 @default.
- W2783809539 hasConceptScore W2783809539C2776318286 @default.
- W2783809539 hasConceptScore W2783809539C2778571376 @default.
- W2783809539 hasConceptScore W2783809539C2780148112 @default.
- W2783809539 hasConceptScore W2783809539C2780598303 @default.
- W2783809539 hasConceptScore W2783809539C2780821815 @default.
- W2783809539 hasConceptScore W2783809539C38652104 @default.
- W2783809539 hasConceptScore W2783809539C41008148 @default.
- W2783809539 hasConceptScore W2783809539C489367 @default.
- W2783809539 hasConceptScore W2783809539C556758197 @default.
- W2783809539 hasConceptScore W2783809539C76178495 @default.
- W2783809539 hasConceptScore W2783809539C83646750 @default.