I analyse how patent litigation outcome in Germany affects the performance of the disputing firms by interpreting changes in a firm's credit rating as a proxy for changes in firm performance. The results match theoretical considerations on the functioning of the bifurcated German patent...

I analyse how patent litigation outcome in Germany a ffects the performance of the disputing fi rms by interpreting changes in a fi rm's credit rating as a proxy for changes in fi rm performance. The results match theoretical considerations on the functioning of the bifurcated German patent...

This paper advances the risk management perspective that superior social performance enhances firm value by serving as an ex ante valuable insurance mechanism. We posit that good social performance is more valuable as an insurance mechanism for firms with higher litigation risks. Moreover, value...