Three Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation
Three Essays in Financial Markets. The Bright Side of Financial Derivatives: Options Trading and Firm Innovation

Author: Iván Blanco

Publisher: Ed. Universidad de Cantabria

Published: 2019-02-15

Total Pages: 90

ISBN-13: 8481028770

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Do financial derivatives enhance or impede innovation? We aim to answer this question by examining the relationship between equity options markets and standard measures of firm innovation. Our baseline results show that firms with more options trading activity generate more patents and patent citations per dollar of R&D invested. We then investigate how more active options markets affect firms' innovation strategy. Our results suggest that firms with greater trading activity pursue a more creative, diverse and risky innovation strategy. We discuss potential underlying mechanisms and show that options appear to mitigate managerial career concerns that would induce managers to take actions that boost short-term performance measures. Finally, using several econometric specifications that try to account for the potential endogeneity of options trading, we argue that the positive effect of options trading on firm innovation is causal.

The Handbook of Organizational Economics
The Handbook of Organizational Economics

Author: Robert Gibbons

Publisher: Princeton University Press

Published: 2013

Total Pages: 1248

ISBN-13: 0691132798

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(E-book available via MyiLibrary) In even the most market-oriented economies, most economic transactions occur not in markets but inside managed organizations, particularly business firms. Organizational economics seeks to understand the nature and workings of such organizations and their impact on economic performance. The Handbook of Organizational Economics surveys the major theories, evidence, and methods used in the field. It displays the breadth of topics in organizational economics, including the roles of individuals and groups in organizations, organizational structures and processes, the boundaries of the firm, contracts between and within firms, and more.

Innovation, Intellectual Property, and Economic Growth
Innovation, Intellectual Property, and Economic Growth

Author: Christine Greenhalgh

Publisher: Princeton University Press

Published: 2010-01-04

Total Pages: 385

ISBN-13: 1400832233

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What drives innovation? How does it contribute to the growth of firms, industries, and economies? And do intellectual property rights help or hurt innovation and growth? Uniquely combining microeconomics, macroeconomics, and theory with empirical analysis drawn from the United States and Europe, this book introduces graduate students and advanced undergraduates to the complex process of innovation. By addressing all the major dimensions of innovation in a single text, Christine Greenhalgh and Mark Rogers are able to show how outcomes at the microlevel feed through to the macro-outcomes that in turn determine personal incomes and job opportunities. In four sections, this textbook comprehensively addresses the nature of innovation and intellectual property, the microeconomics and macroeconomics of innovation, and economic policy at the firm and macroeconomic levels. Among the topics fully explored are the role of intellectual property in creating incentives to innovate; the social returns of innovation; the creation and destruction of jobs by innovation; whether more or fewer intellectual property rights would give firms better incentives to innovate; and the contentious issues surrounding international treaties on intellectual property. Clearly organized and highly readable, the book is designed to be accessible to readers without advanced economics backgrounds. Most technical materials appear in boxed inserts and appendixes, and numerous graphs and tables elucidate abstract concepts. Provides a comprehensive overview of the economic causes and effects of innovation Covers microeconomics, macroeconomics, theoretical and empirical analysis, and policy Includes up-to-date coverage of trends and policy in intellectual property and research and development Features mathematics appendix and keywords and questions to assist learning and teaching Outline lecture slides are available online

Patent Intermediaries
Patent Intermediaries

Author: Mario Benassi

Publisher: Springer Nature

Published: 2022-10-31

Total Pages: 237

ISBN-13: 3031103106

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Intellectual property rights are a key element in today's knowledge economy. Specifically, the use of patents as transactional elements has become widespread. However, the market for patents possesses specific features that differentiate it from other markets. This book provides evidence for its existence and addresses its particular conditions. It also takes a deep dive into patent intermediaries, discussing how they emerged, their activity and business models, as well as their impact on market structure, firms, and societies. Patent intermediaries participate in market transactions by offering various services and by bridging supply and demand of patents. In the last decades, some of them (so-called pejoratively ‘patent trolls’) have become popular for their aggressive litigiousness. However, the activity and presence of patent intermediaries are much more significant. To enhance our understanding of the role of patent intermediaries, the authors provide a comprehensive review of the role of these agents in the Economy.

Comprehensive Dissertation Index
Comprehensive Dissertation Index

Author:

Publisher:

Published: 1984

Total Pages: 808

ISBN-13:

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Vols. for 1973- include the following subject areas: Biological sciences, Agriculture, Chemistry, Environmental sciences, Health sciences, Engineering, Mathematics and statistics, Earth sciences, Physics, Education, Psychology, Sociology, Anthropology, History, Law & political science, Business & economics, Geography & regional planning, Language & literature, Fine arts, Library & information science, Mass communications, Music, Philosophy and Religion.

Public Policy & Financial Economics: Essays In Honor Of Professor George G Kaufman For His Lifelong Contributions To The Profession
Public Policy & Financial Economics: Essays In Honor Of Professor George G Kaufman For His Lifelong Contributions To The Profession

Author: Douglas D Evanoff

Publisher: World Scientific

Published: 2018-03-08

Total Pages: 313

ISBN-13: 981322956X

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The central goal of this volume was to assemble outstanding scholars and policymakers in the field of financial markets and institutions and have them articulate significant market developments in their particular areas of expertise during the past few decades.Not just a celebratory volume, Public Policy and Financial Economics selected internationally recognized financial economists who have worked with Professor Kaufman during his years of scholarly research, and have a combined mastery of specialized financial markets themes and, very importantly, knowledge of public policies in the areas. All 15 chapters offer unique, innovative, and exciting expositions of several critical topics in financial economics.