Text-Based Network Industries and Endogenous Product Differentiation

نویسندگان

  • Gerard Hoberg
  • Gordon Phillips
چکیده

All us We study how firms differ from their competitors using new time-varying measures of product similarity based on text-based analysis of firm 10-K product descriptions. This year-by-year set of product similarity measures allows us to generate a new set of industries in which firms can have their own distinct set of competitors. Our new sets of competitors explain specific discussion of high competition, rivals identified by managers as peer firms, and changes to industry competitors following exogenous industry shocks. We also find evidence that firm R&D and advertising are associated with subsequent differentiation from competitors, consistent with theories of endogenous product differentiation.

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Dynamic Text-Based Industries and Endogenous Product Differentiation

We study how firms differ from their competitors using new dynamic measures of product differentiation based on novel text-based analysis of 50,673 product descriptions from firm 10-K statements filed yearly with the Securities Exchange Commission. This year-by-year set of product differentiation measures allows us to generate a set of dynamic industries and new measures of industry structure a...

متن کامل

Dynamic Text-Based Industry Classifications and Endogenous Product Differentiation

We study how firms differ from their competitors using new dynamic measures of product differentiation based on novel text based analysis of 50,673 product descriptions from firm 10-K statements filed yearly with the Securities Exchange Commission. This year-by-year set of firm product differentiation measures allows us to generate a set of dynamic industry classifications and new measures of i...

متن کامل

R&d Concentration under Endogenous Fixed Costs: Evidence from Genetically Modified Corn Seed

We examine the role of fixed costs in research and development (R&D) in the market for genetically modified (GM) corn seed. In a mixed model of horizontal differentiation by genetic traits and vertical differentiation by productivity, we derive the empirically testable lower bounds to R&D concentration when R&D investments and market entry are jointly determined. When R&D investments translate ...

متن کامل

The Impact of Import and Export of Medium Technology Industries on Economic Growth of Iran

Technology spillover from trade channel is important. Absorbing foreign technology by the channel of importation and using the latent technology in those products create export development, increase the quality and quantity of manufactured goods, and modify management, technology improvements and production of goods with high added value; this might favorise optimal allocation of resources. Imp...

متن کامل

Particle swarm optimization for a bi-objective web-based convergent product networks

Here, a collection of base functions and sub-functions configure the nodes of a web-based (digital)network representing functionalities. Each arc in the network is to be assigned as the link between two nodes. The aim is to find an optimal tree of functionalities in the network adding value to the product in the web environment. First, a purification process is performed in the product network ...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

برای دانلود متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

ثبت نام

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

عنوان ژورنال:

دوره   شماره 

صفحات  -

تاریخ انتشار 2011