Patents that match your standards: Firm-level evidence on competition, innovation and growth☆

• 成果类型: Article
• 署名作者: Bergeaud, Antonin; Schmidt, Julia; Zago, Riccardo
• 署名单位: Hautes Etudes Commerciales (HEC) Paris; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; European Central Bank; Bank of France
• 刊物名称: JOURNAL OF FINANCIAL ECONOMICS
• ISSN/ISSBN: 0304-405X
• DOI: 10.1016/j.jfineco.2026.104281
• 发表日期: 2026-06
• 页码: 104281
• 关键词: standardization; patents; COMPETITION; INNOVATION; GROWTH; Text Mining; DEVELOPMENT EXPENDITURES; SETTING ORGANIZATIONS; MARKET; compatibility; performance; models

摘要

When a technology becomes the new standard, the firms that are leaders in producing this technology gain a competitive advantage. Matching the semantic content of patents to standard documents, we show that firms closer to the new technology standard increase their market share and sales. In addition, if they operate in a competitive market, these firms also increase their R&D expenditure. Yet, these effects are temporary since standardization creates a common technological basis for everyone, which allows followers to catch up and the economy to grow.