Risk, Variety and Volatility in the Early Auto and PC Industry
Abstract
The paper studies the co-evolution of industrial turbulence and financial volatility in the early phase of the US automobile industry (1900-1930) and the early phase of the US PC industry (1970-2000). In both industries, stock prices were the most volatile and idiosyncratic (compared to the general market) during the periods in which entry/exit rates, market share instability, and technological change were the strongest. Given the similarities between the early stages in the two industries, the patterns that have characterized the late evolution of automobiles provide some insights on the possible future of the PC industry.Download Info
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Bibliographic Info
Paper provided by The Open University, Faculty of Social Sciences, Department of Economics in its series Open Discussion Papers in Economics with number 41.Length: 48 pages
Date of creation: Mar 2003
Date of revision:
Handle: RePEc:opn:wpaper:41
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Related research
Keywords:Other versions of this item:
- Mariana Mazzucato, 2003. "Risk, variety and volatility: growth, innovation and stock prices in early industry evolution," Journal of Evolutionary Economics, Springer, vol. 13(5), pages 491-512, December.
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- J. Krafft & J. -L. Ravix, 2008.
"Corporate Governance And The Governance Of Knowledge: Rethinking The Relationship In Terms Of Corporate Coherence,"
Economics of Innovation and New Technology,
Taylor and Francis Journals, vol. 17(1-2), pages 79-95.
- Jackie Krafft & Jacques-Laurent Ravix, 2008. "Corporate governance and the governance of knowledge: rethinking the relationship in terms of corporate coherence," Post-Print hal-00203550, HAL.
- Alessandro Caiani & Antoine Godin & Stefano Lucarelli, 2012. "Innovation and Finance: An SFC Analysis of Great Surges of Development," Economics Working Paper Archive wp_733, Levy Economics Institute, The.
- Jackie Krafft & Jacques-Laurent Ravix, 2005. "The governance of innovative firms: an evolutionary approach," Post-Print hal-00203620, HAL.
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