| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w28856 |
| 来源ID | Working Paper 28856 |
| Bankrupt Innovative Firms | |
| Song Ma; Joy Tianjiao Tong; Wei Wang | |
| 发表日期 | 2021-05-31 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | This paper studies how innovative firms manage their innovation portfolios after filing for Chapter 11 reorganization using three decades of data. We find that they sell off core (i.e., technologically critical and valuable), rather than peripheral, patents in bankruptcy. The selling pattern is driven almost entirely by firms with greater use of secured debt, and the mechanism is secured creditors exercising their control rights on collateralized patents. Creditor-driven patent sales in bankruptcy have implications for technology diffusion—the sold patents diffuse more slowly under new ownership and are more likely to be purchased by patent trolls. |
| 主题 | Financial Economics ; Corporate Finance ; Development and Growth ; Innovation and R& ; D |
| URL | https://www.nber.org/papers/w28856 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586530 |
| 推荐引用方式 GB/T 7714 | Song Ma,Joy Tianjiao Tong,Wei Wang. Bankrupt Innovative Firms. 2021. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w28856.pdf（627KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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