Author: Jyh-Dean HwangPublisher:
ISBN:
Category :
Languages : en
Pages : 314
Book Description
Three Essays on the Effects of Nominal Price Volatility on Real Activity
Author: Jyh-Dean HwangThree Essays on
Author: Moonsuk OhThree essays on empirical finance
Author: Tse-Chun LinPublisher: Rozenberg Publishers
ISBN: 9036101514
Category :
Languages : en
Pages : 146
Book Description
Three Essays on the Prediction and Identification of Currency Crises
Author: Pauline KennedyPublisher:
ISBN:
Category : Financial crises
Languages : en
Pages : 256
Book Description
Three Essays in Policy Regime Changes, Interest Rate Volatility, and Federal Reserve Credibility
Author: Gikas Angelos HardouvelisPublisher:
ISBN:
Category : Interest rates
Languages : en
Pages : 268
Book Description
Three Essays in Finance
Author: Sukanda LuangonThree Essays on Empirical Macroeconomics
Author: Chung-Eun LeeThree Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation
Author: Iván Blanco Publisher: Ed. Universidad de Cantabria
ISBN: 8481028770
Category : Business & Economics
Languages : en
Pages : 90
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: Amit Goyal
Author: Clemens Mueller