We examine the diversification of administrative and procedural costs on patent stock using a large dataset from the European Patent Office with 15,000 firms for the period between 1995 and 2015.The results reveal tha...We examine the diversification of administrative and procedural costs on patent stock using a large dataset from the European Patent Office with 15,000 firms for the period between 1995 and 2015.The results reveal that administrative and procedural costs are significant for firm-level patenting activity.However,not all administrative and procedural costs have equal effects.Higher administrative costs often encourage patent application and validation by solving the adverse selection problem and short-run opportunism,as well as other sources of asymmetric information.The effective administration of intellectual property law and low-cost enforcement are found to considerably foster patenting activity.The effects are robust for various mis-specification checks and do not disappear once country-level research and development infrastructure proxies are controlled for.The extreme bounds of administrative and procedural costs are computed across more than 5 billion regressions,and the sizeable impact of administration on patent application and validation outcomes is confirmed.展开更多
基金Slovenian Research Agency(Javni Sklad za Raziskovalno Dejavnost Republike Slovenije,ARRS)project name:Challenges of inclusive sustainable development in the predominant paradigm of economic and business sciencesgrant number.:P5-0128
文摘We examine the diversification of administrative and procedural costs on patent stock using a large dataset from the European Patent Office with 15,000 firms for the period between 1995 and 2015.The results reveal that administrative and procedural costs are significant for firm-level patenting activity.However,not all administrative and procedural costs have equal effects.Higher administrative costs often encourage patent application and validation by solving the adverse selection problem and short-run opportunism,as well as other sources of asymmetric information.The effective administration of intellectual property law and low-cost enforcement are found to considerably foster patenting activity.The effects are robust for various mis-specification checks and do not disappear once country-level research and development infrastructure proxies are controlled for.The extreme bounds of administrative and procedural costs are computed across more than 5 billion regressions,and the sizeable impact of administration on patent application and validation outcomes is confirmed.
