{"title":"Cross-firm technological linkage and peer effects on investment efficiency","authors":"Kailin Zeng , Wen Kuang , Ebenezer Fiifi Emire Atta Mills","doi":"10.1016/j.econlet.2025.112220","DOIUrl":null,"url":null,"abstract":"<div><div>This study provides compelling and robust evidence of investment imitation arising from technological peer relationship. The documented peer effect operates through competition-based, outcome-oriented, learning-based, and market feedback channels. Mimicking investment strategies of technological peers positively influences the future performance of focal firms, especially in highly competitive markets and when these peers exhibit superior financial performance or favorable stock returns.</div></div>","PeriodicalId":11468,"journal":{"name":"Economics Letters","volume":"248 ","pages":"Article 112220"},"PeriodicalIF":2.1000,"publicationDate":"2025-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics Letters","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0165176525000576","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
This study provides compelling and robust evidence of investment imitation arising from technological peer relationship. The documented peer effect operates through competition-based, outcome-oriented, learning-based, and market feedback channels. Mimicking investment strategies of technological peers positively influences the future performance of focal firms, especially in highly competitive markets and when these peers exhibit superior financial performance or favorable stock returns.
期刊介绍：
Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.
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