專利訴訟、競合架構與股東財富之實證分析

CCUR > College of Business > Department of Banking & Finance > Thesis > Item 987654321/38252

Please use this identifier to cite or link to this item: https://irlib.pccu.edu.tw/handle/987654321/38252

Title:	專利訴訟、競合架構與股東財富之實證分析 Empirical Evidence of Patent Litigation, Co-opetition Framework and Shareholder Wealth
Authors:	施智達
Contributors:	財務金融學系
Keywords:	專利侵權訴訟市場共同性資源相似性 patent infringement lawsuits market commonality resource similarity
Date:	2017
Issue Date:	2017-10-03 11:30:13 (UTC+8)
Abstract:	在科技時代下，企業申請專利已成為保護創新產品的有效策略之一，不過也是最耗時間和高成本的手段之一。近年來，企業的專利數逐年攀升，顯然企業重視程度提高，但也造成了企業間專利侵權訴訟案的發生。因此，本研究針對1998年1月1日至2016年06月30日，共計19年6個月有關企業專利訴訟事件的資料。本研究利用事件研究法和GJR-GARCH，探討兩個主要問題。第一，經競爭者分析架構定位後，樣本對專利侵權訴訟訊息，帶給股東財富異常報酬的反應。第二，經由定位投射至動態競合模型後，理論與實際策略一致或不一致樣本之報酬與風險變動是否明顯有所差異。本研究實證結果為當企業彼此之間的市場共同性高時，訴訟的原告方股價將會顯著下跌，而資源相似性高時，股東財富將有顯著減緩負向異常報酬。接著，對應後的原告企業，預期理論與實際策略不一致時，報酬與風險明顯下降。然而，策略一致時，報酬與風險多數呈現顯著上升。 With the explosion of technological advancements, enterprises applying for a patent have become one of the effective strategies to protect innovative products, but also it is one of the most time-consuming and high cost. In recent years, enterprises of the patent number increased year by year, obviously improving the degree of attention of enterprise, but also created the enterprise patent infringement lawsuits. Therefore, a total of 19 years and 6 months of this study about enterprises of the patent infringement lawsuits during the January 1, 1998 to the June 30, 2016. The event study method and GJR-GARCH are applied to discuss two major problems. First, through the analysis of competitors positioning, the patent infringement litigation information brought the influence to shareholder wealth abnormal return response. Second, through projecting to dynamic co-opetition model when expected or actual action were consistent or inconsistent weather the return and the risk would obviously be changed. The empirical results of this study found that the plaintiffs of the stock price would fall significantly, when the market commonality between the enterprises was higher. And then, the cumulative abnormal returns of shareholders would be reduced while the resource similarity was higher. Finally, after corresponding plaintiff enterprises, the expected theory and the actual strategy was inconsistent, the return and the risk decreased significantly. However, when the strategy was consistent, the return and the risk increased significantly.
Appears in Collections:	[Department of Banking & Finance ] Thesis

Files in This Item:

File	Description	Size	Format
index.html		0Kb	HTML	261	View/Open

View Licence

Loading...