WHAT HAPPENS WHEN FIRMS PATENT? NEW EVIDENCE FROM U.S. ECONOMIC CENSUS DATA

• 成果类型: Article
• 署名作者: Balasubramanian, Natarajan; Sivadasan, Jagadeesh
• 署名单位: Syracuse University; University of Michigan System; University of Michigan
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00058
• 发表日期: 2011-02
• 页码: 126-146
• 关键词: r-and-d; market value; panel-data; industry; PRODUCTIVITY; INNOVATION; DYNAMICS; output; size; selection

摘要

We build a new concordance between the NBER Patent Data and U.S. Census microdata and use it to examine what happens when firms patent. We find strong evidence that increases in patent stock are associated with increases in firm size, scope, and skill and capital intensity. We find somewhat weaker evidence that changes in patenting are positively correlated with changes in total factor productivity. We also analyze first-time patentees and find similar effects following initial patent application. Together, these results suggest that patenting is indeed associated with real changes within firms, in particular with growth through increases in scope.