The new new financial thing
Subtitle: the sources of innovation before and after State Street
By: Josh Lerner.
Contributors: National Bureau of Economic Research.
Series: NBER working paper series ;; working paper 10223; Working paper series (National Bureau of Economic Research : Online) ;; working paper no. 10223.
Publisher: National Bureau of Economic Research
Published: 2004
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Subjects: Finance -- Technological innovations.; Finance -- Patents.
Description: "This paper examines the sources of financial innovations between 1990 and 2002, using Wall Street Journal articles as indicators of innovations.  No evidence suggests that larger firms are particularly innovative; in many specifications, there is a disproportionate representation of smaller firms among the innovators.  Less profitable firms and those with stronger academic ties also innovate more.  The elasticity of innovation with respect to size appears to have increased sharply since the State Street decision that greatly accelerated the rate of financial patenting.  I conclude by exploring how the origins of financial patents resemble or differ from those of innovations"--National Bureau of Economic Research web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 1/19/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.