Intellectual Property Rights, Professional Business Services and Top Wage Inequality

Working Papers

High skill labor demand is infrequent but firms cannot adjust perfectly due to several adjustment costs. Professional Business Services (PBS) sector help alleviate this problem by allowing high skill labor to move across firms, reducing idiosyncratic part of labor demand risk.Read More

Do Institutional Reforms Perpetuate or Mitigate the Matthew Effect? Intellectual Property Rights and Access to International Alliances

Working Papers

We explore how intellectual property rights (IPR), a type of formal institution, affect firms’ access to global alliance networks and their positioning within those networks. We employed a difference-in-difference design to assess the impact of IPR reforms across thirteen countries.Read More

Patent Value and Citations: Creative Destruction or Strategic Disruption?

Working Papers

Prior work suggests that more valuable patents are cited more and this view has become standard in the empirical innovation literature. Using an NPE-derived dataset with patent-specific revenues we find that the relationship of citations to value in fact forms an inverted-U, with fewer citations at the high end of value than in the middle.Read More

Investment as an Influencing Strategy

Working Papers

Institutional environments are often considered exogenous in firms’ investment decisions. While the non-market strategy literature has discussed various approaches that firms may adopt to influence their interactions with institutions, such discussion is mostly absent in the analysis of market strategies. Read More

IP Litigation Is Local, But Those Who Litigate Are Global

Published Research

The importance of managing intellectual property (IP) on a global basis has been widely acknowledged by scholars and practitioners alike. However, we still have limited understanding of how multinational enterprises (MNEs) choose where to file for IP protection and where they exercise their IP rights through litigation. Read More

Using Machine Learning to Predict High-Impact General Technologies

Working Papers

Can machine learning techniques be used to predict high-impact, general technologies? We find that an ensemble of deep learning models that analyze both the text of patents as well as their bibliometric information can ex-ante identify such patents, accurately identifying 80 of the top 100 high generality patents in the hold-out sample. Read More

Patent Litigation Risk and VC Investments

Funded Research Proposal

As VC firms have an acute interest in high-tech companies, they potentially bear substantial risk of patent litigation. In this project, we aim at looking into the following questions: how do ex-ante and ex-post patent litigation risks affect VC firms’ investment strategies and how those risks is propagated among all portfolio companies they have invested?Read More

Managing Valuable Knowledge in Weak IP Protection Countries

Published Research

Although knowledge assets provide multinational corporations with competitive advantages in foreign markets, it can be difficult for firms to protect their knowledge in foreign countries – especially countries with weak intellectual property (IP) protection.Read More

The NPE: Benevolent Middleman or Stick-Up Artist?

Working Papers

How do non-practicing entities impact innovation? This question has enormous relevance to industrial policy, with virtually no direct evidence to inform it. There are two dominant theoretical perspectives, one of which views Non-Practicing Entities (NPEs) as benevolent middlemen reallocating intellectual property (IP) to where it can be best used.Read More

Movie piracy and sales displacement in two samples of Chinese consumers

Published Research

Intellectual property piracy is widely believed, by authorities in both US industry and government, to be rampant in China. Because we lack evidence on the rate at which unpaid consumption displaces paid consumption, we know little about the size of the effect of pirate consumption on the volume of paid consumption. Read More

“Lost” on the Web: Does Web Distribution Stimulate or Depress Television Viewing?

Published Research

In the past few years, YouTube and other sites for sharing video files over the Internet have vaulted from obscurity to places of centrality in the media landscape. The files available at YouTube include a mix of user-generated video and clips from network television shows.Read More