patent premium我的资源Patent Premium of Foreign Firms Innovating in Weak IPR Emerging Markets 20190628VIP

PatentPremiumofForeignFirmsInnovatinginWeakIPREmergingMarkets,CanHuang,ZhejiangUniversityLanhuaLi,ZhejiangUniversityYadongLuo,UniversityofMiamiZheQu,FudanUniversityJune29,2019,IntroductionTheoreticaldevelopmentDataandMethodologyEmpiricalresultsConclusions,Outline,2,Patentsfiledbyforeignfirmsinemergingmarketshavebeengrowingsteadilyinrecentdecades.Driversoftherapidgrowthofpatentingintheemergingeconomieshasbeenextensivelyexploredbyscholars(Hu,2010;HuLi,2012).,1.Introduction,3,4,WeakjudiciaryandadministrativeIPRsystemsPublicempathyofcopycattingBusinessandpublicsectorcorruptionPoliticalandinstitutionalinstability.DifferentmethodstoprotectinnovationPatent,tradesecret,leadtimeandcomplementaryassets,etc.,RiskAssociatedwithPatentinginweakIPRprotectioncountries,Giventhatforeignfirmshavemultiplemethodsofprotectinginnovation,whetherandwhenarepatentsvaluableforforeignfirmsinvestinginlargeemergingmarketscharacterizedwithweakIPRprotection?Westudythevalueofpatentsbypatentpremium(Arora,Ceccagnoli,Inamorepro-marketinstitutionalenvironment,MNEscanbetterleveragetheirexperienceandothercriticalcapabilitiesthatinturnstimulatestheirpatentpremium(Shi,Sun,Yan,Teece,1986).,EffectsofInstitutionalDevelopment,7,8,Patentpremiumofforeignfirms,PatentpremiumofforeignfirmsinChina,Patentpremiumofdomesticfirms,Subnationalinstitutionaldevelopment,H1,H2,AnnualSurveyofIndustrialEnterprises(ASIE)50firm-levelstatisticalindicators,includinginput,output,capitalcomposition,employment,geographicallocation,thefour-digitindustryinwhichafirmoperates,ownershipstatus,andassetsandliabilities.ChinaPatentAbstractDatabase(CPAD)Informationincludespatentapplicationandpublicationnumber,applicationandpublicationdate,patentnumber,title,internationalpatentclassification(IPC)class,abstract,claims,legalstatus.Matchedfirm-patentinformationHe,Z.L.,Tong,T.W.,Zhang,Y.,&He,W.(2016).ConstructionofaDatabaseLinkingSIPOPatentstoFirmsinChinasAnnualSurveyofIndustrialEnterprises1998-2009.,3.Dataandmethodology,9,Datasetforthisstudy32,901firmsfromChinesehigh-techindustries,suchaspharmaceutical,aviation,informationandcommunicationtechnology,theprecisioninstrumentsandmedicalequipmentsectors.Studyperiod:1998-2007Performancemeasure(DependentVariable):TotalFactorProductivity(TFP)LevinsohnandPetrin(2003,RevEconStud)sestimator.,3.Data,10,Howtoevaluatetheproductivityimpactofpatentingwhenthedecisiontofilepatentsisendogenous？Theidealsolutionshouldbecomparingtheproductivityofapatent-holdingfirmwiththeproductivityofthesamefirmhaditnotownedthesepatents(theunobservablecounterfactual).,Methodology,11,TwostepsofestimationUsepropensityscorematchingmethodtoconstructacontrolgroupbasedontheirpre-patentingcharacteristics.,Propensityscorematchingcombinedwithdifference-in-differencemethod,12,Yeart,Yeart-1,Apatentingfirmthatdidnotapplyforpatent,Anon-patentingfirm,Startedtoapplyforpatent,Didnotapplyforpatents,Sameex-antelikelihoodtoapplyforpatentsinYeartTheex-antelikelihoodisestimatedbyalogitmodelregressingadummyofpatentingonseveralcovariates,2)Adoptadifference-in-differenceapproachtocalculateTFPdifferencesbetweentreatedfirmsandcontrolfirms,13,=1+)111,0.5,1.5,Propensityscorematchingcombinedwithdifference-in-differencemethod,Covariatestomatchnon-patentingfirmstothepatentingfirms:tfpi,-1,ratioofnewproductoutputi,-1，firmsizei,-1,firmagei,-1,ownershipstatus(domestici,-1,IJVi,-1),yearandfour-digitindustrydummies.OthervariablesforgroupingfirmsOwnershipoffirmsaccordingtoASIEsclassification.Institutiondevelopmentbyregionsoffirms:aregionalinstitutionaldevelopmentindexcompiledbytheNationalEconomicsResearchInstitute(Fan,Wang,&Zhu,2011).,VariablesandMeasurement,14,4.Empiricalresults,1)Patentpremiumofdomesticfirmsandforeignsubsidiaries,2)Patentpremiumofdomesticfirmsandforeignsubsidiariesatdifferentlevelsofinstitutionaldevelopment,5.Conclusions,Thereexistspatentpremiumforforeignfirmsinalargeemergingm