Topic
Market capitalization
About: Market capitalization is a research topic. Over the lifetime, 3583 publications have been published within this topic receiving 77288 citations. The topic is also known as: market cap & market value.
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TL;DR: The authors empirically compare the contributions of VC and private equity backed firms, including those backed by government subsidized innovation investment funds (IIFs), in the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from market inception to August 2012.
Abstract: We empirically compare the contributions of venture capital (VC) and private equity backed firms, including those backed by government subsidized innovation investment funds (IIFs), in the Australian economy by analyzing employment, R&D, patents, time to IPO, and market capitalization from market inception to August 2012. Overall, the data highlight a central role for VC and IIF investment in facilitating R&D, innovation, and economic growth. Our IIF findings highlight the success of government sponsorship of VC under the Australian program design, which is sharply in contrast with the lack of success of government venture programs in other countries.
35 citations
Posted Content•
35 citations
TL;DR: In this article, the authors conduct an early investigation into potential factor structures in the expected returns of crypto assets and find that crypto assets with large market capitalization, low volatility, and high past returns tend to outperform in the following month.
Abstract: A new market has emerged from active trading of major cryptocurrencies and the listing of many initial coin offering (ICO) tokens. The authors conduct an early investigation into potential factor structures in the expected returns of crypto assets. They find that crypto assets with large market capitalization, low volatility, and high past returns tend to outperform in the following month. These are suggestive evidences for an emerging factor structure, even though crypto asset returns are still largely dominated by idiosyncratic noise. Their findings could help investors make better decisions in the nascent crypto asset market.
35 citations
TL;DR: In this paper, the authors employ the theory of innovative enterprise to analyze how over the course of its 37-year history Apple became so profitable, and argue that there is no economic justification from a risk-reward perspective for this distribution to Apple's shareholders.
35 citations
TL;DR: In this article, the alterations that have occurred in equity market correlations for six major internationally active stock exchanges between 1980 and 1987 were measured using the VAR variance decomposition technique, finding substantial alterations in intermarket linkage patterns occurring over the 1980s.
Abstract: This paper measures the alterations that have occurred in equity market correlations for six major internationally active stock exchanges between 1980 and 1987. The markets are chosen so as to allow for geographical diversity while still accounting for almost ninety percent of total worldwide equity market capitalization. The VAR variance decomposition technique is used to measure intermarket linkage patterns. We find substantial alterations in intermarket linkage patterns occurring over the 1980s. While the US market (the New York Stock Exchange) is still the dominant financial force in world equities trading, other markets (particularly those in the Pacific Basin region) now account for an increasing impact on observed index correlations in the system. This paper suggests that world financial integration is, in part, responsible for the altered linkage patterns observed over the 1980s.
35 citations