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dc.contributor.authorMazzucato, Marianaen
dc.contributor.authorTancioni, Massimilianoen
dc.date.accessioned2012-11-01T13:56:38Z-
dc.date.available2012-11-01T13:56:38Z-
dc.date.issued2005-
dc.identifier.urihttp://hdl.handle.net/10419/65696-
dc.description.abstractRecent studies find that idiosyncratic risk (IR) has increased since the 1960's and attribute this to economy wide factors such as the role of the IT revolution. To gain further insights into why IR has increased over time, our paper uses industry level data and firm level data to study if industries considered very innovative and R&D intensive firms are characterized by higher IR due to how innovation activity affects the uncertainty of expected future profits. While the industry level results prove inconclusive, the firm level results are encouraging: a clear relationship is found between a firm's R&D intensity and the volatility of its returns.en
dc.language.isoengen
dc.publisher|aThe Open University, Economics Department |cMilton Keynesen
dc.relation.ispartofseries|aOpen Discussion Papers in Economics |x50en
dc.subject.jelG12en
dc.subject.jelO30en
dc.subject.ddc330en
dc.subject.keywordIdiosyncratic Risken
dc.subject.keywordVolatilityen
dc.subject.keywordTechnological Changeen
dc.subject.keywordIndustry Life Cycleen
dc.titleInnovation and idiosyncratic risk: An industry and firm level analysis-
dc.typeWorking Paperen
dc.identifier.ppn479087377en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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