New Economics Papers
on Law and Economics
Issue of 2010‒12‒18
three papers chosen by
Jeong-Joon Lee, Towson University

  1. Package licenses in patent pools with basic and optional patents By Kenji Azetsu; Seiji Yamada
  2. National legislative systems and foreign standards and regulations: The case of International Financial Reporting Standards adoption By Dima, Bogdan; Dima(Cristea), Stefana Maria; Moldovan, Nicoleta; Pirtea, Marilen Gabriel
  3. Il finanziamento degli investimenti in R&S. Gli effetti sulla crescita e sulla struttura finanziaria By Garofalo, Giuseppe; Morganti, Patrizio

  1. By: Kenji Azetsu (Osaka University of Health and Sport Sciences); Seiji Yamada (Graduate School of Economics, Kobe University)
    Abstract: Recently, patent pools have been often established by the patent holders in order to promote research and development (R&D) and set technological standards. Patent pools are one of the administration methods for licensing, whereby many patent holders assemble their own patents and the administrator of the patent pools offers the licenses to users. This paper investigates the patent holders' incentive to form a patent pool, the patent pool's licensing behavior, and the anticompetitive effect of a patent pool. Our model is characterized by the following two features. First, we consider different two types of patent: basic and optional. Second, we consider not only a patent pool that offers a single package license, but also a patent pool that offers multiple package licenses. The single package license includes both basic and optional patents in the patent pool. The multiple package licenses involve two licenses: one includes only basic patents, whereas the other includes both basic and optional patents. The results of our analysis yield some implications for a patent pool that is characterized by the strength of complementarity between basic and optional patents.
    Keywords: patent pools, multiple package licenses, antitrust laws, bundling goods
    JEL: K11 K21 L4
    Date: 2010–12
  2. By: Dima, Bogdan; Dima(Cristea), Stefana Maria; Moldovan, Nicoleta; Pirtea, Marilen Gabriel
    Abstract: This study is focused on the linkages between the legislative families as descriptors of national legislative systems and International Financial Reporting Standards (IFRSs) issued by the International Accounting Standards Board (IASB). We consider such analysis as a case study for the more general issue of explaining the preferences of national regulators in the adoption of foreign norms, rules, standards and practices. By using a dataset of 162 jurisdictions and dummy variables designed to capture the current stage of IFRSs adoption and, respectively, the taxonomy of their legislative systems, we find that a full IFRSs adoption is more likely to occur in countries which have principles-based on legislative mono-systems. In addition, we observe that a strong rule of law, with an effective mechanism of property rights reinforcement, as well as the pre-adoption existence of a pro-growth set of public policies can contribute to the encouragement of IFRSs adoption.
    Keywords: IFRSs adoption• Legislative families
    JEL: K49 M49
    Date: 2010–11
  3. By: Garofalo, Giuseppe; Morganti, Patrizio
    Abstract: The financing of innovation impacts on economic growth. What’s, among bank-based or market-based system, the best organizational form? The paper supports the view that both forms have to be merged into a unique approach (law and finance view) embracing not only the overall quality of the financial services' supply (financial services view) but also the related legal aspects. In particular, the paper agrees with the thesis that the financial structure of the economy emerges endogenously depending both on the firms’ R&D investment choices and on their initial wealth level. The paper presents also an empirical validation of the financial services and, more specifically, of the law and finance view, carried out over the period 1980-2008. A focus is dedicated to the Chinese case, which shows strong economic growth and increasingly efficient financial sector, in despite of the weakness of the legal system.
    Keywords: R&D investment; finance and growth; financial system and institutions
    JEL: K20 O32 D82 E44 P48 G20
    Date: 2010–03

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