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- Title
Growth Opportunities and Technology Shocks.
- Authors
Kogan, Leonid; Papanikolaou, Dimitris
- Abstract
In this article the authors propose a method for measuring a corporation's opportunities for growth and recording its empirical properties. Growth opportunities are defined as that part of a firm's market value that is not attributable to its assets in place. The organization's value secures several cross-sectional theory-based models that describe the corporate investment and stock return behaviors. A number of other issues are addressed including the function of firms that produce more than one product, productivity in the capital goods sector, and the behavior of high growth firms.
- Subjects
CORPORATE growth; MARKET value; ORGANIZATIONAL behavior; INVESTMENT management; ECONOMIC models; EMPIRICAL research
- Publication
American Economic Review, 2010, Vol 100, Issue 2, p532
- ISSN
0002-8282
- Publication type
Article
- DOI
10.1257/aer.100.2.532