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on Intellectual Property Rights |
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Issue of 2020‒04‒27
four papers chosen by Giovanni Ramello Università degli Studi del Piemonte Orientale “Amedeo Avogadro” |
| By: | David Argente; Salomé Baslandze; Douglas Hanley; Sara Moreira |
| Abstract: | We study the relationship between patents and actual product innovation in the market, and how this relationship varies with firms’ market share. We use textual analysis to create a new data set that links patents to products of firms in the consumer goods sector. We find that patent filings are positively associated with subsequent product innovation by firms, but at least half of product innovation and growth comes from firms that never patent. We also find that market leaders use patents differently from followers. Market leaders have lower product innovation rates, though they rely on patents more. Patents of market leaders relate to higher future sales above and beyond their effect on product innovation, and these patents are associated with declining product introduction on the part of competitors, which is consistent with the notion that market leaders use their patents to limit competition. We then use a model to analyze the firms' patenting and product innovation decisions. We show that the private value of a patent is particularly high for large firms as patents protect large market shares of existing products. |
| Keywords: | patent value; productivity; creative destruction; patents; product innovation; growth |
| JEL: | O3 O4 |
| Date: | 2020–04–17 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedawp:87832&r=all |
| By: | Drivas, Kyriakos; Kaplanis, Ioannis |
| Abstract: | Our study examines whether patent applications with international collaborations are more likely to be awarded a US patent than applications without. It contributes significantly to the growing literature that examines from the innovator’s viewpoint the likelihood of securing the patent grant. The analysis focuses on the full sample (almost half a million) of patent applications over the period 2001-2009 at the USPTO, that disclosed at least one EU located inventor, and furthermore, explicitly distinguishes between countries with high and low number of patent applications. Firstly, we find that applications from teams rather than individual inventors are more successful in obtaining a patent grant, and that results are even better for international teams. Our key finding is that the presence of a US entity, either as inventor or owner, plays an important role in securing the grant. For low innovative countries, other types of international collaborations also matter significantly pointing to the benefits for these countries to become more extrovert. We further find that a large part of the US ‘effect’ can be attributed to additional prosecution efforts, as it is evident by continuing patent applications. |
| Keywords: | International collaborations, likelihood of patent grant, USPTO, continuing patent applications, patent assignments |
| JEL: | O31 O32 O34 |
| Date: | 2020–04 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:99520&r=all |
| By: | Giao, Ha Nam Khanh |
| Abstract: | The aim of this research is to examine the effect of perceived brand globalness on consumers’ purchase intention, noting the mediating roles of perceived brand prestige and quality, brand social responsibility, and the moderating roles of consumer ethnocentrism. Survey data collected from 613 consumers in Vietnam was analyzed to provide evidence. Results from the partial least squares structural equation modeling (PLS-SEM) using the SmartPLS 3.0 program indicated that there was a positive impact of perceived brand globalness on consumers’ purchase intention; this was mediated partially through perceived brand prestige and quality, and brand social responsibility. Moreover, this study also found the moderating effects of consumer ethnocentrism on the impacts of perceived brand globalness on consumer’s purchase intention and on perceived brand quality. Consumer ethnocentrism dampened the positive association between perceived brand globalness and perceived brand quality as well as reduced purchase intention of Vietnamese consumers. The finding also implies that marketers should build a suitable marketing strategy to heighten consumers’ purchase intention. |
| Date: | 2019–12–11 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:wygrf&r=all |
| By: | Danilo Cascaldi-Garcia; Marija Vukotić |
| Abstract: | We exploit firm-level data on patent grants and subsequent reactions of stocks to identify technological news shocks. Changes in stock market valuations due to announcements of individual patent grants represent expected future increases in the technology level, which we refer to as patent-based news shocks. Our patentbased news shocks resemble diffusion news, in that they do not affect total factor productivity in the short run but induce a strong permanent effect after five years. These shocks produce positive comovement between consumption, output, investment, and hours. Unlike the existing empirical evidence, patent-based news shocks generate a positive response in inflation and the federal funds rate, in line with a standard New Keynesian model. Patenting activity in electronic and electrical equipment industries, within the manufacturing sector, and computer programming and data processing services, within the services sector, play crucial roles in driving our results. |
| Keywords: | News Shocks; Patents; Patent-based news shocks |
| JEL: | E30 E32 L60 |
| Date: | 2020–04–17 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgif:1277&r=all |