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  1. Invention Value, Inventive Capability and the Large Firm Advantage
    Author: Arora, Ashish; Cohen, Wesley M.; Lee, Honggi; Sebastian, Divya
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from... more

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from their inventions. We develop a simple model that discriminates between the two explanations. Using a sample of 2,786 public corporations, and measures of both patent quality and patent value, we find that, while average invention value rises with size, average invention quality declines, suggesting, per our model, that the large firm advantage is not due to superior inventive capability, but due to the superior ability to extract value. We provide evidence suggesting that this superior ability to extract value is due to greater commercialization capabilities of larger firms

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30354
    Subjects: Großunternehmen; Erfindung; Patent; Innovationsmanagement; Technischer Fortschritt; Innovationswettbewerb; Innovation and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Technological Change: Choices and Consequences; Diffusion Processes; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers
  2. Of Academics and Creative Destruction
    Startup Advantage in the Process of Innovation
    Author: Kolev, Julian; Haughey, Alexis; Murray, Fiona E. S.; Stern, Scott
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup... more

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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup ventures in the innovation process relative to more traditional alternatives such as academia and established private-sector incumbents. We develop a simple model of startup advantage based on private information held by the initial inventor, and generate predictions related to the value and impact of startup innovation. We then explore these predictions using patents granted within the regional ecosystems of top-25 research universities from 2000 to 2015. Our results show a significant startup advantage in terms of forward citations and outlier-patent rates. Further, startup innovation is both more original and more general than innovation by incumbent firms. Moreover, startups that survive to become "scale-ups" quickly grow to dominate their regional innovation ecosystems. Our findings have important implications for innovation policy

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30362
    Subjects: Innovation; Technischer Fortschritt; Unternehmensgründung; Wettbewerbsvorteil; USA; Contracting Out; Joint Ventures; Technology Licensing; Entrepreneurship; New Firms; Startups; Innovation and Invention: Processes and Incentives; Management of Technological Innovation and R&D; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers
  3. A Model of Intangible Capital
    Author: Crouzet, Nicolas; Eberly, Janice C.; Eisfeldt, Andrea L.; Papanikolaou, Dimitris
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We propose a model that starts from the premise that intangible capital needs to be stored on some medium --- software, patents, essential employees --- before it can be utilized in production. Storage implies that intangible capital may be partially... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    We propose a model that starts from the premise that intangible capital needs to be stored on some medium --- software, patents, essential employees --- before it can be utilized in production. Storage implies that intangible capital may be partially non-rival within the firm, leading to scale economies. However, storage can also compromise the ability of the firm to fully appropriate the returns generated by intangibles. We explore the implications of these two mechanisms for firm scale, scope, and investment decisions, and we outline their connection to recent macroeconomic and financial trends in the US

     
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  4. The First Sale Doctrine and the Digital Challenge to Public Libraries
    Author: Reimers, Imke C.; Waldfogel, Joel
    Published: August 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    Libraries have traditionally provided free communal access to books, facilitated by the first sale doctrine's (FSD) guarantee that libraries may purchase physical books at consumer prices. Increasingly restrictive ebook access terms may imperil... more

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    Universitätsbibliothek Freiburg
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Libraries have traditionally provided free communal access to books, facilitated by the first sale doctrine's (FSD) guarantee that libraries may purchase physical books at consumer prices. Increasingly restrictive ebook access terms may imperil libraries, and we compare the welfare cost of higher ebook prices to the welfare benefit of the FSD's guarantee of low physical book prices for libraries and their patrons. Using data on over 8,000 library systems for 2013-2019, we measure the impacts of physical and electronic holdings on the respective formats' circulation. We then build a structural model of the library market, and we rationalize the status quo book holdings with a librarian utility function that attaches higher weights to electronic circulation. While higher counterfactual ebook prices would induce libraries to substitute physical for electronic holdings, this would have little effect on patron CS because of consumer willingness to substitute. By contrast, higher physical book prices, as would prevail absent the first sale doctrine, reduce CS by almost ten times as much as an analogous ebook price increase

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30392
    Subjects: Bibliothek; Buch; Elektronische Publikation; Bibliotheksdienstleistung; Konsumentenverhalten; USA; Publicly Provided Private Goods; Entertainment; Media; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
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    Hardcopy version available to institutional subscribers
  5. Gender and Underrepresented Minority Differences in Research Funding
    Author: Cruz-Castro, Laura; Ginther, Donna K.; Sanz-Menéndez, Luis
    Published: June 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    This chapter reviews the data and literature on gender, race and ethnicity differences in research funding in the United States and Europe. The gender gap in research funding has closed at the National Science Foundation and National Institutes of... more

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    Universitätsbibliothek Freiburg
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    This chapter reviews the data and literature on gender, race and ethnicity differences in research funding in the United States and Europe. The gender gap in research funding has closed at the National Science Foundation and National Institutes of Health in the United States and substantially narrowed in Europe. Underrepresented minorities are less likely to receive research funding that whites in the United States. We found that much of the literature was a series of informative independent studies where many of the potential explanations depended upon the context. Our examination of peer review also found contradictory evidence of its efficacy. The variety of countries, funders, and approaches to peer review make it difficult to make definitive conclusions in the face of contradictory evidence on the gender funding gap. We conclude that access to high-quality administrative data would allow for improved methodological approaches to understanding these differences in research funding

     
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  6. Intellectual Property Protection Lost and Competition
    An Examination Using Machine Learning
    Author: Acikalin, Utku U.; Caskurlu, Tolga; Hoberg, Gerard; Phillips, Gordon M.
    Published: November 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and employment agreements. We consider firms whose ability to protect intellectual property (IP) using patents is weakened following the... more

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and employment agreements. We consider firms whose ability to protect intellectual property (IP) using patents is weakened following the Alice Corp. vs. CLS Bank International Supreme Court decision. This decision has impacted patents in multiple areas including business methods, software, and bioinformatics. We use state-of-the-art machine learning techniques to identify firms' existing patent portfolios' potential exposure to the Alice decision. While all affected firms decrease patenting post-Alice, we find an unequal impact of decreased patent protection. Large affected firms benefit as their sales and market valuations increase, and their exposure to lawsuits decreases. They also acquire fewer firms post-Alice. Small affected firms lose as they face increased competition, product-market encroachment, and lower profits and valuations. They increase R&D and have their employees sign more nondisclosure agreements

     
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  7. Scope, Scale and Concentration
    The 21st Century Firm
    Author: Hoberg, Gerard; Phillips, Gordon M.
    Published: November 2022
    Publisher:  National Bureau of Economic Research, Cambridge, Mass

    We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases... more

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    Universitätsbibliothek Freiburg
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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
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    Technische Informationsbibliothek (TIB) / Leibniz-Informationszentrum Technik und Naturwissenschaften und Universitätsbibliothek
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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases valuation and is primarily realized through acquisitions and investment in R&D, but not through capital expenditures. We show that traditional concentration ratios do not capture this expansion of scope. Our findings point to a new type of firm that increases scope through related expansion, which is highly valued by the market

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: NBER working paper series ; no. w30672
    Subjects: Unternehmenswachstum; Unvollkommener Markt; Unternehmenskonzentration; Innovation; Immaterialgüterrechte; USA; Oligopoly and Other Forms of Market Imperfection; General; Innovation and Invention: Processes and Incentives; Intellectual Property and Intellectual Capital
    Scope: 1 Online-Ressource, illustrations (black and white)
    Notes:

    Hardcopy version available to institutional subscribers