The Impact of Innovation Stock and Patent Strategies on Operating Performances: ：The Case of Taiwan’s Semiconductor Industry

• Main Authors: Jhen-Kun Chang, 張鎮堃
• Other Authors: Ming-Hsuan Lee
• Format: Others
• Language: zh-TW
• Published: 2019
• Online Access: http://ndltd.ncl.edu.tw/handle/cs8x6j

碩士 === 國立中山大學 === 經濟學研究所 === 107 === This paper examines the impact of innovation activities and patent strategies on operating performances. We established a firm-level panel dataset consisting of the top 50 semiconductor firms in Taiwan from 2005 to 2017 and adopted the random-effect panel data model as the estimation strategy. The estimation results obtained are different from the findings of the previous studies. First, the estimation results show that the patent stock of firms has no significant impact on the gross profit ratios, and the numbers of patent citations have a significant negative impact on the gross profit ratios. However, the rates of return to R&D expenditures still have significant positive impact on the gross profit ratios. Second, the number of patent litigations involved of a firm has a significant negative impact on the gross profit ratio, regardless whether the firm is the plaintiff or the defendant.