APPROPRIABILITY, PREEMPTION, AND FIRM PERFORMANCE

• 成果类型: Article
• 署名作者: Ceccagnoli, Marco
• 署名单位: University System of Georgia; Georgia Institute of Technology
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/smj.723
• 发表日期: 2009
• 页码: 81-98
• 关键词: appropriability; patents; preemptive patenting; INNOVATION; Competitive advantage

摘要

The impact of strategies used to appropriate innovation rents on firm performance is analyzed using a sample of U.S. public manufacturing firms. Stronger appropriability at the firm level, achieved through patent protection or the ownership of specialized complementary assets, leads to superior economic performance, as measured by the stock market valuation of a firm's R&D assets. Among commonly used 'nonconventional' patent strategies, preemptive patenting allows imcumbents to strengthen their market power. Consistent with theory, such effect is higher for incumbent with higher ex ante market power and facing a higher threat of entry, and lower when R&D competition is characterized by the discovery of drastic innovations. Copyright (C) 2008 John Wiley & Sons, Ltd.