Common ownership and innovation (dis)incentives
UNIVERSITY OF TECHNOLOGY SYDNEY
Finance Department
Research Seminars in Finance
Topic: Lower your weapon: common ownership and innovation (dis)incentives
Speaker: Jane Luo, University of Adelaide
Abstract: Common ownership by institutional investors disincentivizes patent-related innovation by significantly reducing the quantity, private value, originality, and generality of patents. Firms lower their patent weapons as competition is relaxed by common ownership. The disincentive impact is aggravated on firms facing intense product market competition; and is alleviated on firms with sufficiently high technology spillovers. Common ownership shows no significant impact on corporate R&D investment. Our study suggests that common ownership is unlikely to improve welfare by promoting R&D investment and patent-related innovation.
Moderator: Kenny Phua, University of Technology Sydney
Date: Wednesday, 21st September 2022
Time: 12-1 pm (Australian Eastern Standard Time)
Venue: This is an online Zoom webinar.
Seminar protocols:
- The webinar will run for 45 minutes, followed by a 15 minute Q&A session.
- There will be a moderator for each seminar event, who will facilitate communication and resolve any technical issues.
- Participants can use the chat facility or raise their had to ask questions during the presentation. The moderator will then alert the speaker at the appropriate time and either ask the questions raised or unmute the participant so they can ask the question directly to the presenter.
Co-ordinator: Kenny Phua
