| Summary: | 博士 === 國立高雄第一科技大學 === 管理研究所 === 100 === A lot of previous research has been concerned with investigating the implications of the financial consequences of new product developments, delays, and extensions. Yet few studies have examined the relationships between stock market reactions and product-specific news. This current research aims to fill such gaps in the literature by critically assessing the effects of three different product-specific news events on a firm’s financial performance: third-party organization (TPO) endorsed product award news (awards), patent infringement events, and product recall events. Hence, this study extends this line of research on several fronts.
First, it investigates the impact of TPO awards and their impacts on a firm’s market performance. Specifically, the study enquires into the relationship between a firm’s accumulation of TPO endorsed awards and its market value.
Second, the use of patent infringements against competitors has become a common practice in not only protecting a firm’s intellectual property rights but also in deterring competitors from entering the market. Prior studies have merely focused on the impact of patent infringement events on a firm’s abnormal stock return. Little attention has been given to the negative effects of such events in dollar amounts claimed on a firm’s market value. This study will employ the method of event study to examine the impact of a patent lawsuit on the market values of both the defendant’s and plaintiff’s firms. Third, past research has examined the impact of a firm’s product recall on the fluctuation of its stock prices. The duration of such impact has gained less attention. This study will probe into the relationship between the impact duration of a firm’s recall events and its market value.
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