search query: @author Wedig, G. J. / total: 2
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| Author: | Wedig, G. J. |
| Title: | How risky is R and D? a financial approach |
| Journal: | Review of Economics and Statistics
1990 : MAY, VOL. 72:2, p. 296-303 |
| Index terms: | R&D RISK MARKET STRUCTURE CAPITAL ASSET PRICING |
| Language: | eng |
| Abstract: | In order to understand the relationship between market structure and the risk of innovation, a synthesis is proposed between the capital asset pricing model and simple models of industrial organization. The theoretical section discusses the real determinants of R and D riskiness, finding that several unique features of R and D assets may influence their systematic risk, including their strategic nature and random arrival as well as the firm's industry that there is a considerable systematic risk premium associated with R and D which can be partially offset by firm size and market concentration. |
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