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Vintage Organization Capital / Boyan Jovanovic, Peter L. Rousseau.
- Format:
- Book
- Author/Creator:
- Jovanovic, Boyan.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w8166.
- NBER working paper series no. w8166
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2001.
- Summary:
- We study 114 years of U.S. stock market data and find That there are large cohort effects in stock prices, effects that we label 'organization capital,' That cohort effects grew at a rate of 1.75% per year, That the debt-equity ratio of all vintages declined, That three big technological waves took place: electricity (1895-1930), a 'World War II' wave (1945-1970), and information technology (1971-), and That organization capital tends to grow fastest during the second half of a technological wave.
- Notes:
- March 2001.
- Print version record
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