Does Innovation Explain the Skewness of Stock Returns?
This paper investigates the impact of firm-level innovation on the skewness of stock returns. Using data on a broad sample of equities from the major US stock exchanges, we find that innovative companies exhibit strong positive skewness. Our results are robust to both input and output measures of in...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Pompea College of Business
2021-11-01
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| Series: | American Business Review |
| Subjects: | |
| Online Access: | https://digitalcommons.newhaven.edu/americanbusinessreview/vol24/iss2/2/ |