Innovation and Idiosyncratic Risk PDF Download

Author: Mariana Mazzucato
Publisher:
ISBN:
Category : Risk
Languages : en
Pages : 43

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Author: Guo Li
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Book Description
Corporate Social Responsibility (CSR) is playing an increasingly important role in firm risk management in Industry 4.0. To mitigate risk and improve operational productivity, Artificial Intelligence (AI), one of key disruptive technologies, has been widely employed in many industries. In this study, we examine the relationship among CSR, Idiosyncratic Risk (IR), Operational Efficiency (OE), and AI innovation in different ownership structures. The empirical analysis results show that CSR and OE can negatively influences firm IR. However, beyond some level, increasing CSR may increase IR indicating a U-shaped relationship. Regardless, OE strengthens CSR's reduction effect on IR and weakens its increasing effect. Meanwhile, AI innovation inhibits the U-shaped relationship between CSR and IR. Interestingly, we find that the influencing mechanisms vary among firms with different ownership structures. The U-shaped relationship between CSR and IR only exists in private and state-owned enterprises. In central-owned enterprises, it is only negative. This indicates that too much CSR may hurt private and state-owned enterprises, but it will not hurt central-owned enterprises in relation to IR. OE decreases IR for private enterprises, while it does not affect the IR of state-owned or central-owned enterprises significantly. We find surprisingly that AI innovation increases IR of private enterprises, while it decreases that of state-owned enterprises. The moderating effects of OE and AI innovation do not work for state-owned or central-owned enterprises. Finally, we discuss the managerial and practical implications of these findings.

Author: Chia Yin Hsu
Publisher: Routledge
ISBN: 9780429344169
Category : History
Languages : en
Pages : 176

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"How did "innovation" become something to strive for, an end in itself? And how did "the market" come to be thought of as the space of innovation? This edited volume provides the first historical examination of how innovations are conceived, marketed, navigated and legitimated from a global perspective that highlights contrasting experiences. These experiences include: colonial "projecting" in the Dutch New Netherlands, trust networks in the early US securities market, female investors during the Financial Revolution, life insurance in nineteenth-century France, "bubbles" and trusts in 1920s Shanghai, government regulation of the pre-Revolutionary stock market and the checkered success of today's bit-coin technology. By discussing these diverse contexts together, this volume provides a pathbreaking reconsideration of market and business activities in light of both the techniques and the emotional vectors that infuse them" --

Author: Franklin Allen
Publisher: MIT Press
ISBN: 9780262011419
Category : Business & Economics
Languages : en
Pages : 398

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Franklin Allen and Douglas Gale assemble some of their key papers along with a five-chapter overview that not only synthesizes their work but provides a historical and institutional review and a discussion of alternative approaches as well.

Author: Mr. Roberto Piazza
Publisher: International Monetary Fund
ISBN: 145525083X
Category : Business & Economics
Languages : en
Pages : 34

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Book Description
Financial innovation has increased diversification opportunities and lowered investment costs, but has not reduced the relative cost of active (informed) investment strategies relative to passive (less informed) strategies. What are the consequences? I study an economy with linear production technologies, some more risky than others. Investors can use low quality public information or collect high quality, but costly, private information. Information helps avoiding excessively risky investments. Financial innovation lowers the incentives for private information collection and deteriorates public information: the economy invests more often in excessively risky technologies. This changes the business cycle properties and can reduce welfare by increasing the likelihood of "liquidation crises"

Author: Ernesto Leon-Castro
Publisher: CRC Press
ISBN: 1003807496
Category : Business & Economics
Languages : en
Pages : 358

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Book Description
Innovation and sustainability are issues that have become very relevant in recent years. This book presents a compilation of investigations on these topics, divided into those applied in government or enterprises. The objective is to demonstrate to the audience how these issues have been worked around the world and in different scenarios. Among the papers, there are works related to economic variables, imports, exports, and analysis in different sectors such as tourism, agriculture, education, and even in countries in general.

Author: Andreas Pyka
Publisher: Routledge
ISBN: 113508498X
Category : Business & Economics
Languages : en
Pages : 232

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Book Description
Innovation and finance are in a symbiotic and twin-track relationship: a well-functioning financial system spurs innovation by identifying and funding stimulating entrepreneurial activities which trigger economic growth. Innovations also open up profitable opportunities for the financial system. These mutual dynamics cause and need innovative adaptations in the financial system in order to better deal with the changing requirements of a knowledge-based economy. The volume comprises different contributions which focus on the central imperative of this evident connection between financial markets and innovation which, despite its importance, is only barely considered in academia, as well in practice so far. The book is about the mutual interdependence of innovation processes and finance. This interdependent relationship is characterized by a high degree of complexity which stems, on the one hand, from the truly uncertain character of innovation and, on the other hand, from the different time scales in both domains. Whereas innovation processes are long-term and experimental, financial markets are interested in shortening time horizons in order to optimize financial investments. Economies which do not manage to align the two realms of their economic system are in danger of ending up in either financial bubbles or economic stagnation. The chapters of this book deal with different aspects of this complex interrelationship between innovation and finance, highlighting, for example the role of stock markets, venture capital and international financial transactions, as well as the historical co-development of the financial and industrial domains. Thus far, the communities in economics dealing with both issues are almost completely disconnected. The book brings together economic research dealing with the interface between innovation and finance and highlights the importance of the Neo-Schumpeterian perspective. This topic is of particular interest in the current economic crisis affecting the Eurozone and its currency. Most of the policy instruments discussed and implemented so far are focused on short-run targets. This discussion of the relationship between innovation and finance suggests a long-run perspective to create new potentials for economic growth and a sustainable way out of the economic crisis.

Author: B. Laperche
Publisher: Springer
ISBN: 0230584098
Category : Business & Economics
Languages : en
Pages : 293

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Book Description
This book presents in its first part the financial determinants of innovation processes considered in a macro-economic perspective, which are limited by short-term constraints, and studies in its second part the linkages existing between the necessity to innovate in order to survive and the constant attention given to financial results.

Author: Ahmed Bounfour
Publisher: Springer
ISBN: 3319075330
Category : Science
Languages : en
Pages : 313

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Book Description
​This book addresses the issue of intangibles' contribution to growth at macroeconomic and microeconomic levels. It provides a review of a set of new approaches to innovation growth. It also considers the issue of how to invest in intangibles, especially with regard to the market failure issue. The book focusses on three major themes: First it provides a better understanding of how intangibles contribute to economic growth and value creation. In a second part it presents emerging practices as well as examples of market failure, analyzing managerial practices in relationship to market imperfections. Finally the book links the value of intangibles with innovation and the performance of firms.

Author: Tony Davila
Publisher: Berrett-Koehler Publishers
ISBN: 1609945557
Category : Business & Economics
Languages : en
Pages : 295

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Book Description
For more than twenty years, major innovations—the kind that transform industries and even societies—seem to have come almost exclusively from startups, despite massive efforts and millions of dollars spent by established companies. Tony Davila and Marc Epstein, authors of the bestselling Making Innovation Work, say the problem is that the very processes and structures responsible for established companies’ enduring success prevent them from developing breakthroughs. This is the innovation paradox. Most established companies succeed through incremental innovation—taking a product they’re known for and adding a feature here, cutting a cost there. Major breakthroughs are hard to achieve when everything about the way your organization is built and run is designed to reward making what already works work a little better. But incremental innovation can coexist with breakthrough thinking. Using examples from both scrappy startups and long-term innovators such as IBM, 3M, Apple, and Google, Davila and Epstein explain how corporate culture, leadership style, strategy, incentives, and management systems can be structured to encourage breakthroughs. Then they bring it all together in a new model called the Startup Corporation, which combines the philosophy of the startup with the experience, resources, and network of an established company. Breakthrough innovation no longer has to be the nearly exclusive province of the new kids on the block. With Davila and Epstein’s assistance, any company can develop paradigm-shifting products and services and maximize the ROI on its R&D.