Organizational form and the economic impacts on innovation: The case of patent grants announcements

Shao Chi Chang, Sheng Syan Chen, Yu Shun Hung

研究成果: Paper

摘要

Although the values of innovations greatly differ, prior studies on diversification and innovation focused only on the quantity of inventive outputs without considering the economic impacts on shareholders value. This study investigates the influence of corporate diversification on the wealth effect of patent grants announcements. We find that focused firms experience significantly greater market reactions to patent announcements than diversified firms. In addition, we find that diversification into related industries has little effect on the wealth gains of granted patents, but diversification into unrelated industries significantly damages the economic impacts of patents. Those findings are robust to different definitions of industry relatedness, and remain unchanged even after controlling other determinants.

原文English
出版狀態Published - 2006 十二月 1
事件66th Annual Meeting of the Academy of Management, AOM 2006 - Atlanta, GA, United States
持續時間: 2006 八月 112006 八月 16

Other

Other66th Annual Meeting of the Academy of Management, AOM 2006
國家United States
城市Atlanta, GA
期間06-08-1106-08-16

All Science Journal Classification (ASJC) codes

  • Management Information Systems
  • Management of Technology and Innovation

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  • 引用此

    Chang, S. C., Chen, S. S., & Hung, Y. S. (2006). Organizational form and the economic impacts on innovation: The case of patent grants announcements. 論文發表於 66th Annual Meeting of the Academy of Management, AOM 2006, Atlanta, GA, United States.