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pro vyhledávání: '"Jiri Knesl"'
Publikováno v:
SSRN Electronic Journal.
Publikováno v:
SSRN Electronic Journal.
Autor:
Jiri Knesl
I show that a firm’s capital intensity affects the asset pricing implications of investment-specific technology shocks measured by a popular measure, the IMC porfolio. Capital-intensive stocks sorted by the exposure to this measure generate a highl
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::dc272b7f96c5e6a84fb17ab1b47ffd9d
https://doi.org/10.2139/ssrn.3019782
https://doi.org/10.2139/ssrn.3019782
Autor:
Jiri Knesl
Publikováno v:
SSRN Electronic Journal.
I examine the asset pricing implications of technological innovations that allow capital to displace labor: automation. I develop a theory in which firms with high share of displaceable labor are negatively exposed to such technology shocks. In the m