| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13011 |
| 来源ID | Working Paper 13011 |
| Creative Destruction and Firm-Specific Performance Heterogeneity | |
| Hyunbae Chun; Jung-Wook Kim; Randall Morck; Bernard Yeung | |
| 发表日期 | 2007-04-02 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | 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 elevated firm performance heterogeneity mechanically reflects a wave of Schumpeter's (1912) creative destruction disrupting a wide swath of U.S. industries, with newly successful IT adopters unpredictably undermining established firms. This evidence validates endogenous growth theory models of creative destruction, such as Aghion and Howitt (1992); and suggests that recent findings of more elevated firm-specific performance variation in richer, faster growing countries with more transparent accounting, better financial systems, and more secure property rights might partly reflect more intensive creative destruction in those economies. |
| 主题 | Macroeconomics ; Business Cycles ; Financial Economics ; Corporate Finance ; Development and Growth ; Innovation and R& ; D ; Growth and Productivity ; Country Studies |
| URL | https://www.nber.org/papers/w13011 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570678 |
| 推荐引用方式 GB/T 7714 | Hyunbae Chun,Jung-Wook Kim,Randall Morck,et al. Creative Destruction and Firm-Specific Performance Heterogeneity. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13011.pdf（290KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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