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Dimitris Papanikolaou
Researcher at Northwestern University
Publications - 70
Citations - 4192
Dimitris Papanikolaou is an academic researcher from Northwestern University. The author has contributed to research in topics: Capital asset pricing model & Investment (macroeconomics). The author has an hindex of 24, co-authored 64 publications receiving 3184 citations. Previous affiliations of Dimitris Papanikolaou include National Bureau of Economic Research.
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Technological Innovation, Resource Allocation, and Growth
TL;DR: This paper used newly collected data on patents issued to U.S. firms in the 1926 to 2010 period, combined with the stock market response to news about patents, to measure the economic importance of each innovation.
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Organization Capital and the Cross-Section of Expected Returns
TL;DR: In this paper, the authors developed a model in which the outside option of the key talent determines the share of firm cash flows that accrue to shareholders, and found that firms with more organization capital have average returns that are 4.6% higher than firms with less organization capital.
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Investment, Idiosyncratic Risk, and Ownership
TL;DR: In this paper, the authors address the endogeneity problem of stock return volatility by instrumenting for volatility with a measure of a firm's customer base concentration, and find that the negative effect of idiosyncratic risk on investment is partly due to managerial risk aversion, and the negative relationship between idiosyncratic uncertainty and investment is stronger for firms with high levels of insider ownership.
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Investment Shocks and Asset Prices
TL;DR: In this paper, the authors explore the implications for asset prices and macroeconomic dynamics of shocks that improve real investment opportunities and thus affect the representative household's marginal utility and find that a positive investment shock leads to high marginal utility states.
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Growth Opportunities, Technology Shocks, and Asset Prices
TL;DR: In this paper, the authors explore the impact of investment-specific technology (IST) shocks on the cross section of stock returns and show that IST shocks have a differential effect on the value of assets in place and value of growth opportunities.