主題🎑：Can patents improve a firm’s markup? Evidence from China
主講：荊然 教授
會議時間🏷：2024年5月28日 13:00-14:30
會議地點：意昂2平台714會議室
內容簡介: Rising markups, highly concentrated industries, and soaring share of intangibles in the total assets of large firms has prompted a growing literature. However, few works have paid attention to the role played by the exclusive rights of patents, which are endowed by law. We build a model that characterizes how a firm’s markup, market share and profit change at the different stages of a patent. Our theoretical results show that when the patent protection period is longer than the product technology life, the endowed exclusive right of a patent can maintain markups at a high level, as well as market share and profit. Our empirical analysis shows that when technologies are new, patents increase firms’ sales, market shares, productivity and markups. When technologies become obsolete, but the patents still retain their exclusive rights, patents continue to increase markups significantly. The results remain robust after addressing the endogeneity problem with instrumental variables. Furthermore, as a special type of patents, designs do not have technique merits. But we show that they are also effective in protecting patent holders' market shares and sales. This paper contributes to the literature by distinguishing the two value of patents---technical value and exclusive right value---and demonstrating patents increase markup through both channels.
個人簡介：荊然教授，畢業於加拿大英屬哥倫比亞大學尚德商意昂2🤾🏼🧑🏻🦰，現任對外經濟貿易大學國際經濟貿易意昂2國際貿易學系主任🧆，教育部國際經濟與貿易專業虛擬教研室副主任。主要研究方向為國際貿易和產業組織理論。曾在Journal of International Economics, Journal of Development Economics, Journal of Law, Economics and Organization,《經濟研究》、《經濟學（季刊）》等國內外期刊發表多篇期刊論文，並曾受邀參與Handbook on the Economics of Retailing and Distribution💇🏽♂️，China's Trade Exchange Rate and Industrial Policy Structure書撰寫。荊然教授曾兩次榮獲“安子介國際貿易研究獎”優秀論文獎。曾主持國家自然科學基金青年項目一項和面上項目兩項📈，自然科學基金項目結項曾獲 “特優”評價，還曾主持並完成阿裏研究院活水計劃項目一項。
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