The book begins by reviewing the connection between firm size, innovation and market structure from a theoretical and an empirical point of view, with emphasis on the 'complexity' that defines this relationship. It then goes on to build an evolutionary model which explores different Schumpeterian propositions regarding the positive and negative feedback between firm size and innovation as well as the role of idiosyncratic random events on industry market structure. The concluding chapter uses 100 years in the history of the US automobile industry to explore the relationship between market share instability and stock price volatility and the degree to which this relationship is connected to industry specific factors. This innovative new book will prove invaluable to researchers, lecturers and scholars of industrial organisation, technology and market structure.The concept of excess volatility can be illustrated graphically by manipulating stock price and dividend data as Shiller (1989) ... Analyst Handbook, while that for General Motors is taken from the annual editions (1924-97) of Moodya#39;s Manual ofanbsp;...
|Title||:||Firm Size, Innovation, and Market Structure|
|Publisher||:||Edward Elgar Publishing - 2000-01-01|