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on Technology and Industrial Dynamics |
| By: | Martin Wörter (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Tobias Stucki (KOF Swiss Economic Institute, ETH Zurich, Switzerland); Christian Soltmann (Swiss Federal Institute of Intellectual Property, Switzerland) |
| Abstract: | While recent literature has focused on explaining the determinants of green innovations, it is not well understood how such innovations affect performance. To analyse the relationship between green innovation and performance, new industry-level panel data were exploited: these include 12 OECD countries, the whole manufacturing sector and a period of 30 years. The results show that green inventions are U-shape related to performance. However, the turning point is quite high and hence only relevant for a few industries. This indicates that - given the current level of green promotion - market incentives alone are not sufficient to allow the green invention activities of industries to rise considerably. |
| Keywords: | Innovation, R&D, patents, environment, technological change, performance |
| JEL: | O30 O34 Q55 |
| Date: | 2013–02 |
| URL: | http://d.repec.org/n?u=RePEc:kof:wpskof:13-330&r=tid |
| By: | Vilen Lipatov, Gregor Langus, Damien Neven (Graduate Institute of International Studies) |
| Abstract: | This paper analyzes the effect of injunctions on royalty negotiations for standard essential patents. We develop a model in which courts grant injunctions only when they have sufficient evidence that the prospective licensee is unwilling, in line with the way we understand Courts to operate in Europe. In such a framework the prospective licensee has a powerful strategic tool: the offers that he makes to the patent holder will affect the royalty rate that the Court may adopt as well as the probability of being subject to injunctions (and the liability for litigation costs). We find that despite the availability of injunctions, the holder of a sufficiently weak patent will end up accepting below FRAND rates, in particular when litigation cost are high. We also find that the prospective licensee will sometimes prefer to litigate and the holder of a sufficiently strong patent will always end up in litigation by rejecting offers below FRAND. This arises in particular when the prospective licensee has little to fear from being found unwilling, namely when the trial takes time (so that the threat of injunctions is less powerful), and when litigation costs are low. Importantly, we thus find that hold up (royalties above the fair rate) as well as reverse hold up (royalties below the fair rate) may arise in equilibrium. |
| Keywords: | standard essential patent, injunctions, hold up, reverse hold up |
| JEL: | K41 L49 O34 |
| Date: | 2013–02–26 |
| URL: | http://d.repec.org/n?u=RePEc:gii:giihei:heidwp04-2013&r=tid |
| By: | Alessandra Colombelli (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis (UNS) - CNRS : UMR6227); Jackie Krafft (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis (UNS) - CNRS : UMR6227); Francesco Quatraro (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis (UNS) - CNRS : UMR6227) |
| Abstract: | The paper analyzes the effects of the properties of firms' knowledge base on the survival likelihood of firms. Drawing upon the analysis of the patterns of co-occurrence of technological classes in patent applications, we derive the coherence, variety and cognitive distance indexes, accounting respectively for technological complementarity, differentiation and (dis)similarity in the firms' patent portfolios. The results of our analysis are in line with the previous literature, showing that innovation enhances the survival likelihood of firms. In addition, we show that the search strategies at work in the development of firms' knowledge base matter in reducing the likelihood of a failure event. Knowledge coherence and variety appear to be positively related to firms' survival, while cognitive distance exerts a negative effect. We conclude that firms able to exploit the accumulated technological competences have more chances to be successful in competing durably in the market arena, and derive some policy implications concerning the role of public intervention in the orientation of search efforts in local contexts. |
| Keywords: | Knowledge coherence; variety; cognitive distance; firms' survival |
| Date: | 2013–01–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-00686007&r=tid |
| By: | Josheski, Dushko; Magdinceva Sopova, Marija |
| Abstract: | The aim of this paper is to investigate the issue of R&D investment and the market value of the firm. This idea dating back from Arrow paper, later developed by Paul Romer but in the area of economic growth. Zvi Griliches (1979), first introduced the production function, which later would be used in a vast literature from this area (Market value of the firms and R&D investment). In the theoretical section of this paper we are describing Tobin’s original model, and Abel’s (1984) model, this models relates Tobin’s quotient with intangible assets of the company. In the empirical part we develop cross-section time series model (Feasible Generalized Least Squares Model), for a panel of countries in Europe including UK and Turkey, in total of 11 panels. Later we test that model by estimating the marginal effects of R&D investment with Tobin’s q on a small economy such as R. Macedonia. The results exert positive and statistically significant relationship between market value of the firms and R&D investment. -- |
| Keywords: | Tobin’s q,R&D,knowledge absorption |
| JEL: | D9 D46 |
| Date: | 2013–01–31 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:esprep:68488&r=tid |