Deciphering The Seemingly Counter Intuitive Impact Of Firm Innovation On Stock Returns In The Electronics Sector

Journal of Applied Business Research (JABR)

View Publication Info
 
 
Field Value
 
Title Deciphering The Seemingly Counter Intuitive Impact Of Firm Innovation On Stock Returns In The Electronics Sector
 
Creator Yu, Gun Jea
Hong, KiHoon
Kwon, Kyoung-Min
 
Subject Firm Innovation
Stock Returns;
Exploitation
Exploration
 
Description This paper investigates the impact of firms’ innovative activities on stock returns for firms in the electronics sector. The regression analysis provided counter intuitive result that exploitation and exploration are not significant in explaining stock returns. However, further analysis on firm size revealed that innovation have statistically significant explanatory power in the stock returns of relatively large firms, and the effect was negative and positive for exploitation and exploration, respectively. This is consistent with general expectations. The result implies that equity investors may believe that innovation is important for relatively larger firms only.
 
Publisher Clute Institute
 
Date 2021-07-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
 
Format application/pdf
 
Identifier https://clutejournals.com/index.php/JABR/article/view/10378
 
Source Journal of Applied Business Research (JABR); Vol. 37 No. 4 (2021); 105-118
2157-8834
0892-7626
 
Language eng
 
Relation https://clutejournals.com/index.php/JABR/article/view/10378/10429
 

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