https://scholars.lib.ntu.edu.tw/handle/123456789/414857
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.author | Chang H.-Y. | en_US |
dc.contributor.author | Liang W.-L. | en_US |
dc.contributor.author | Wang Y. | en_US |
dc.creator | Wang Y.;Liang W.-L.;Chang H.-Y. | - |
dc.date.accessioned | 2019-07-24T01:52:57Z | - |
dc.date.available | 2019-07-24T01:52:57Z | - |
dc.date.issued | 2019 | - |
dc.identifier.issn | 09275398 | - |
dc.identifier.uri | https://scholars.lib.ntu.edu.tw/handle/123456789/414857 | - |
dc.description.abstract | This paper reexamines the effect of institutional ownership on corporate patent-based innovation. Using an updated sample, we confirm that higher institutional ownership leads to more innovations, including more citations received by patents of a firm, and higher patent generality and originality. However, we find that the impact of institutional ownership on patent-based innovation greatly decreases after the tech bubble bursts and this lower support is driven by both transient and non-transient institutional investors. We do not find that institutional investors intentionally lower their support of patent-based innovation for improving this less efficient innovation. Our results support the contention that the exorbitant litigation cost of patents lowers the incentives for institutional investors to invest in patent-based innovation after 2000. ? 2019 Elsevier B.V. | - |
dc.language | English | - |
dc.relation.ispartof | Journal of Empirical Finance | - |
dc.subject | Innovation | - |
dc.subject | Institutional ownership | - |
dc.subject | Patent | - |
dc.subject | Patent cost | - |
dc.title | Do institutional investors still encourage patent-based innovation after the tech bubble period? | en_US |
dc.type | journal article | en |
dc.identifier.doi | 10.1016/j.jempfin.2019.02.003 | - |
dc.identifier.scopus | 2-s2.0-85061959995 | - |
dc.identifier.url | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85061959995&doi=10.1016%2fj.jempfin.2019.02.003&partnerID=40&md5=d02d53e2a5c5354f73d8cc1787145486 | - |
dc.relation.pages | 149-164 | - |
dc.relation.journalvolume | 51 | - |
item.openairecristype | http://purl.org/coar/resource_type/c_6501 | - |
item.openairetype | journal article | - |
item.grantfulltext | none | - |
item.cerifentitytype | Publications | - |
item.fulltext | no fulltext | - |
crisitem.author.dept | Finance | - |
crisitem.author.parentorg | College of Management | - |
顯示於: | 財務金融學系 |
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