We consider the role of intellectual property rights (IPRs) in a Schumpeterian growth model in which patent holders face the threats of profit loss due to imitation and complete replacement due to successful outside innovation. In this setting stronger IPR enforcement has both imitation and...

Strategy scholars have documented in various empirical settings that firms seek and leverage stronger institutions to mitigate hazards and gain competitive advantage. In this paper, we argue that such “institution-seeking” behavior may not be confined to the pursuit of strong institutions:...

From the standpoint of policies, the different branches of economics may be aggregated into two categories: dirigiste and laissez fairist. Dirigiste theories in economics have been based primarily on the complexity of commodities: this allows commodities to be ranked according to the...

The current stage of globalization involves geographically dispersed research and development (R&D) investments that are not confined to advanced economies. These cross-border R&D investments are driven by multinational enterprises’ (MNEs’) strategies for exploring and/or exploiting foreign...

Using a survey with randomized elements and truth-telling incentives, we document scientists’ beliefs about current and future disruptions to their research and how these beliefs depend on the eventual length of the COVID-19 pandemic. Overall, scientists with more favorable ratings of their...

I construct a new proxy for Tobin's q that incorporates the replacement cost of patent capital. This proxy, PI (physical plus intangible) q, explains up to 62% more variation in investment than other proxies for q. Furthermore, investment is more sensitive to PI q than to other proxies for q....

Litigated pharmaceutical patents are a valuable source of data on how much inventiveness is required for a patent grant and what are the costs of patents. Although innovation is central to economic growth and the competitiveness of firms, there are few data about either the cost of granted...

Since 1980, a series of legislative acts and judicial decisions have affected the ownership, scope, and duration of patents. These include: the Bayh-Dole Act in 1980; the extension of the maximum patent term in 1994; and the shift from a first to invent standard to a first to file system in 2011. These...

The objective of this paper is to show the necessity of reviving the debate on the economic justifications for patent protection. On the one hand, we see the need for the assessment of the overall welfare consequences of the existing systems of patent protection, and on the other hand, we...

This paper aims at analysing the risk of intellectual property (IP) infringements by competitors from abroad and in particular whether this risk is higher for international innovating firms. We distinguish three different types of IP infringements from abroad: the usage of firms' technical...