The information-technology revolution and the stock market
Article Abstract:
A study was conducted to analyze the premise that the US equities market in the late 1960s declined because the old technologies had lost their momentum or would give way to information technology, and that information technology innovators boosted the value of the stock market only in the 1980s. Results indicated that replacement and technological progress have increased in the past two decades. Findings also showed that information technology currently accounts for more than half of equipment investments.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 1999
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Bidder discounts and target premia in takeovers
Article Abstract:
News of takeovers of companies starts a trend of fear, a target's price rises, and the bidder's price falls. A model is designed to show that takeovers are efficient and consistent with prevailing bidder and joint discounts.
Publication Name: American Economic Review
Subject: Economics
ISSN: 0002-8282
Year: 2004
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