Co-patent, financing constraints, and innovation in SMEs: An empirical analysis using market value panel data of listed firms

Lv, David Diwei; Zeng, Peng; Lan, Hailin

doi:10.1016/j.jengtecman.2018.02.001

Cited by 27 publications

(16 citation statements)

References 72 publications

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“…The findings on the need for sales and business growth are in line with those of previous studies (Chen and Huang, 2004;Dacin et al, 2007;Lv et al, 2018) in terms of company size, scarce resources and deficient market legitimacy being disadvantages that company cooperation might rectify. The findings of this study, however, provide a new contribution by presenting the shared commercial product portfolio as a form of co-marketing to enhance company visibility and credibility.…”

Section: Scientific Implicationssupporting

confidence: 89%

Marketing through a joint commercial product portfolio: business drivers, benefits and challenges

Mustonen

Härkönen

Haapasalo

2020

JBIM

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Purpose This study aims to improve understanding of companies’ motives and concerns in relation to cooperation through a joint commercial product portfolio. Design/methodology/approach The qualitative research method was used to study 17 companies based on two case projects. Findings The joint commercial product portfolio is introduced as a new type of co-marketing. The possible business drivers, targeted benefits and perceived challenges of small and medium-sized enterprises (SMEs) in relation to cooperation through a joint commercial product portfolio are identified. The companies seem to be motivated by and concerned about similar issues that also apply to other forms of co-marketing. Research limitations/implications The study consisted of two case projects in the same country and, thus, share fairly similar business environments and cultures. Therefore, the same results may not be obtained for a study that is conducted in a different location. Practical implications Managers of SMEs can benefit from the results of this study by improving their understanding of co-marketing opportunities through the creation of a joint commercial product portfolio with suitable companies. In addition, the results provide managers with insights into the challenges that should be considered when planning marketing cooperation. Originality/value The study provides new perspectives on the existing co-marketing literature by discussing the creation of a joint commercial product portfolio as a vehicle to support companies’ business objectives. The study contributes to the increasing business-to-business co-marketing literature by presenting the business drivers, targeted benefits and perceived challenges related to SMEs cooperation through a joint commercial product portfolio.

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Section: Scientific Implicationssupporting

confidence: 89%

Marketing through a joint commercial product portfolio: business drivers, benefits and challenges

Mustonen

Härkönen

Haapasalo

2020

JBIM

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“…The intervention of government could help to allocate resources more efficient for public goods in case of market failure. There are two major interventions of government on financing SMEs, the subsidiaries and coordination on supplier's trade credit [14]. Subsidiaries have been proved less effective than the coordination on supplier's trade credit.…”

Section: The Brief Review Of Financing Problem and Of Solutionsmentioning

confidence: 99%

Financing SMEs and Innovation

Ma¹,

Tang²

2019

dtssehs

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R&D intensive SMEs have been the one of major pillars of world economy. Thus, the financing constraints they are facing are worthy of studying thoroughly. Basically, innovative SMEs mainly face two major problems: the scarcity of collaterals and informational asymmetries with lenders or investors. The existing solutions, such as increase liquidity of intangible assets, the signaling effect of patents and credit rating tools of banks, could be widely used. VC and BA eliminate partial informational asymmetries. Securitization of intellectual properties require too much to realize for SMEs. At present, there are not effective methods solve financing problems of innovative SMEs.

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“…Moreover, the multicountry co-ownership of a patent positively impacts patent quality than patents co-owned within a single country (Belderbos et al, 2014;Briggs, 2015;Hagedoorn et al, 2003;Paradiso & Pietrowski, 2009;Wade, 2014). As for the effect of co-patents on a company's market value, Belderbos et al (2014) and Lv et al (2018) indicated the co-patent intensity is negatively correlated with a company's market value, although a co-patent with a university is associated with a higher market value.…”

Section: Introductionmentioning

confidence: 99%

“…On the one hand, co-owners have the same right to own and exploit the invention on their behalf according to the patent law (Belderbos et al, 2014). This complex co-ownership induces a negative relationship between the number of co-patents and the owner's market value (Belderbos et al, 2010;2014;Lv et al, 2018). On the other hand, the law of most countries such as European countries, except for France, and the law of Japan, China, Korea, and Taiwan has a regulation that each patent's owner needs prior consent with other co-owners in the co-patent's utilization, sole license, exclusive license or assignment to a third party (Hashimoto et al, 2012), which may induce a constrained effect on the co-patent's commercialization for inducing the intellectual property infringement risk, according to the transaction cost theory.…”

Section: Introductionmentioning

confidence: 99%

Co-patents’ commercialization: evidence from China

Chen

Jia

2020

Economic Research-Ekonomska Istraživanja

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Co-patents are outcomes of R&D collaboration, which has been proven with higher-quality. Does this mean that high-quality patents should also extend their advantage to the technology market? Based on the transaction cost theory, we use the China National Intellectual Property Administration (CNIPA) database and logit model to explore the effect of co-ownership on firms' patent commercialization and the factors of co-patents that affect their commercialization. Our findings illustrate that co-ownership has a negative impact on patent commercialization. In addition, the co-owner's nature, country, and co-patent's industry influence the commercialization of co-patents. Firstly, a company and a university or research institution's co-owned co-patents are less likely to be commercialization than a company and a company coowned co-patents. Secondly, multi-countries co-owned co-patents are less likely to be commercialization than a single-country coowned co-patents. Thirdly, co-patents in high technology (hightech) industries are less likely to be commercialization than copatents in non-high-tech industries. This paper supports policymakers in implementing policies to promote the co-patents' commercialization. Meanwhile, our paper suggests that to pursue the economic value of the R&D collaborative intellectual property fruits, R&D collaborative intellectual property fruits are not be encouraged to be applied as the co-patents.

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Co-patent, financing constraints, and innovation in SMEs: An empirical analysis using market value panel data of listed firms

Cited by 27 publications

References 72 publications

Marketing through a joint commercial product portfolio: business drivers, benefits and challenges

Marketing through a joint commercial product portfolio: business drivers, benefits and challenges

Financing SMEs and Innovation

Co-patents’ commercialization: evidence from China

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