Authors
- Kochetkov Evgeny Pavlovich PhD of Economics, Associate Professor
- Anisova Anastasia Sergeevna
- Gubliya Eliza Beslanovna
Annotation
The article deals with the problem of the relationship between technological revolutions and financial bubbles of high-tech companies as a factor in identifying such
revolutions. Practice shows that the emerging volatility of stock indices in high-tech sectors of the economy cannot always be interpreted as a financial bubble within the framework of one technological revolution. In the scientific literature, this issue, including forecasting the basic technology of a new technological revolution, has not been sufficiently studied. As a result of the study, a definition of the concept of a “technological financial bubble” is given, directions for the development of a methodology for analyzing such bubbles are proposed, and the reasons for a significant drop in stock returns on the stock market are identified using the NASDAQ Composite high-tech index as an example. As a methodology, a statistical analysis of the dynamics of this index was used in conjunction with indicators 2 The article was prepared based on the results of research within the framework of the state task of the Financial University in 2021. of profitability, free cash flow and the venture investment market. The result of the study was a list of the most overvalued industries in the US business areas in the stock and venture markets. To identify the causes of the investigative links of the emergence of a technological financial bubble, a comparative analysis of the current situation with the dot-com crisis was carried out, and external factors affecting the stock market were studied. The empirical results of the study made it possible to prove the scientific hypothesis about the absence of a bubble on the NASDAQ high-tech stock exchange, to identify areas of possible future bubbles based on an analysis of the development of venture capital as a prerequisite for a new technological revolution. The article was prepared based on the results of research as part of the State assignment to the Financial University in 2021
How to link insert
Kochetkov, E. P., Anisova, A. S. & Gubliya, E. B. (2023). FINANCIAL BUBBLES AS A FACTOR IN THE EMERGENCE OF A NEW TECHNOLOGICAL REVOLUTION: DEVELOPMENT OF THE ANALYSIS METHODOLOGY Bulletin of the Moscow City Pedagogical University. Series "Pedagogy and Psychology", 2023 №1 (35), 8. https://doi.org/10.25688/2312-6647.2023.35.1.01
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