HOW DOES PATENT LITIGATION INFLUENCE DYNAMIC RISK FOR MARKET COMPETITORS?
| Autor: | Shu-Shian Lin, wan-rung Lin, Jui-Cheng Hung, Yi-Hsien Wang |
|---|---|
| Rok vydání: | 2015 |
| Předmět: |
Actuarial science
HF5001-6182 Autoregressive conditional heteroskedasticity patent litigation Patent infringement Market leader Economic growth development planning Competitor analysis Bivariate analysis patent infringement market competitor HD72-88 Economics Business Asset (economics) dynamic risk EGARCH Finance |
| Zdroj: | Technological and Economic Development of Economy, Vol 23, Iss 5 (2017) Technological and Economic Development of Economy; Vol 23 No 5 (2017); 780-793 |
| ISSN: | 2029-4921 2029-4913 |
| DOI: | 10.3846/20294913.2015.1074949 |
| Popis: | Many recent studies have discussed the appropriateness of various patent measurement indicators, as well as the differences in the positioning of patented technologies, while there is little discussion on the risk transmission of enterprises when faced with infringement litigation. This study used the bivariate EGARCH (Exponential Generalized Autoregressive Conditional Heteroskedasticity) model with DCC (Dynamic Conditional Correlations) to investigate the dynamic risk transmission of patent litigation between market competitors in the smartphone industry. Empirical results revealed that when facing lawsuits from market challengers, the market leader faces fewer risks when handling patent infringement litigations. In addition, the risk reactions of competitors during patent wars may widely differ. Investors should consider the patent infringement litigations when measuring the dynamic risks of share prices, and determining the optimal configuration of asset portfolios in response. First published online:03 Nov 2015 |
| Databáze: | OpenAIRE |
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