کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
960089 929409 2008 27 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Creative destruction and firm-specific performance heterogeneity
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری حسابداری
پیش نمایش صفحه اول مقاله
Creative destruction and firm-specific performance heterogeneity
چکیده انگلیسی

Traditional U.S. industries with higher firm-specific stock return and fundamentals performance heterogeneity use information technology (IT) more intensively and post faster productivity growth in the late 20th century. We argue that this mechanically reflects a wave of Schumpeter's creative destruction disrupting a wide swath of industries, with successful IT adopters unpredictably undermining established firms. This validates endogenous growth theory models of creative destruction and suggests intensified creative destruction as explaining findings associating greater firm-specific performance variation with higher per capita GDPs, economy growth rates, accounting standards, financial system development, and property right protection.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Financial Economics - Volume 89, Issue 1, July 2008, Pages 109–135
نویسندگان
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