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The Rise in Firm-Level Volatility: Causes and Consequences / Diego Comin, Thomas Philippon.
- Format:
- Book
- Author/Creator:
- Comin, Diego.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w11388.
- NBER working paper series no. w11388
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- The Rise in Firm-Level Volatility
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2005.
- Summary:
- We document that the recent decline in aggregate volatility has been accompanied by a large increase in firm level risk. The negative relationship between firm and aggregate risk seems to be present across industries in the US, and across OECD countries. Firm volatility increases after deregulation. Firm volatility is linked to research and development spending as well as access to external financing. Further, R&D intensity is also associated with lower correlation of sectoral growth with the rest of the economy.
- Notes:
- Print version record
- May 2005.
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