Through textual analyses of 7.7 million patents, we develop a novel intercompany innovation similarity measure which enables us to find that technologically connected firms cross-predict one another’s returns. Investors impound information about firms’ technological connectedness, although not immediately and fully. Buying (shorting) shares of technological peers earning high (low) returns during the previous month yields a 1.29% monthly return. Firms’ return predictability increases with patent complexity or limited technological disclosures but decreases with better information transparency. Results suggest that investor inattention explains technology momentum. Unlike momentum stemming from simpler, class-based technological links, our Big Data text-based return predictability remains active.

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Journal Article An Econometric Model of Puerto Rico Get access M. Dutta, M. Dutta Rutgers University Search for other works by this author on: Oxford Academic Google Scholar V. Su V. Su Rutgers University Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 36, Issue 3, July 1969, Pages 319–333, https://doi.org/10.2307/2296430 Published: 01 July 1969 Article history Received: 15 April 1968 Received: 15 January 1969 Published: 01 July 1969

Income Effects and the Theory of the Firm J. de V. Graaf J. de V. Graaf Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 18, Issue 2, 1950, Pages 79–86, https://doi.org/10.2307/2295795 Published: 01 April 1950

Journal Article On Optimum Tariff Structures Get access J. de V. Graaff J. de V. Graaff Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 17, Issue 1, 1949, Pages 47–59, https://doi.org/10.2307/2295788 Published: 01 April 1949

Journal Article The Belgian Monetary Reform: An Appraisal of the Results Get access A. V. de Ridder A. V. de Ridder Brussels, Belgium Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 16, Issue 1, 1948, Pages 25–40, https://doi.org/10.2307/2296141 Published: 01 April 1948