Technology, technology risk, technology growth, rate of return


As professors of economics and finance, we often teach that technology enhances profits, which is well and good, and probably true from a macroeconomic point of view. However, recent market experiences with respect to the technology sector show that the process of technological innovation is often messy, and subject to devastatingly high levels of risk at the firm level. It is the intent of this paper to provide financial educators with some tools to incorporate the assessment, and pricing of technology risk in the undergraduate and graduate curriculum.

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