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Article: Banking systems, innovations, intellectual property protections, and financial markets: Evidence from China

TitleBanking systems, innovations, intellectual property protections, and financial markets: Evidence from China
Authors
Issue Date2013
PublisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jbusres
Citation
Journal of Business Research, 2013, v. 66 n. 12, p. 2390–2396 How to Cite?
AbstractOne unique feature of the emerging economies in Asia is the rich variation in the development of financial systems and technological sectors across different geographical areas. This unbalanced evolution provides us a potentially more powerful setting to investigate the dynamics among banking systems, innovations, intellectual property (IP) protections, and stock market reactions that are especially useful in understanding the policy–finance–innovation nexus in emerging economies. Using newly available data from China, this study confirms the nurturing role of financial systems on innovations, the value-enhancing function of firms' innovative activities, and the lead–lag predictive role of innovations on stock returns, in the context of emerging economies. More importantly, the study documents that stronger provincial IP protections reduce patent piracy and hence enhance local firms' market values.
Persistent Identifierhttp://hdl.handle.net/10722/203523
ISSN
2015 Impact Factor: 2.129
2015 SCImago Journal Rankings: 1.682
ISI Accession Number ID

 

DC FieldValueLanguage
dc.contributor.authorHsu, PHen_US
dc.contributor.authorWang, Cen_US
dc.contributor.authorWu, Cen_US
dc.date.accessioned2014-09-19T15:25:39Z-
dc.date.available2014-09-19T15:25:39Z-
dc.date.issued2013en_US
dc.identifier.citationJournal of Business Research, 2013, v. 66 n. 12, p. 2390–2396en_US
dc.identifier.issn0148-2963en_US
dc.identifier.urihttp://hdl.handle.net/10722/203523-
dc.description.abstractOne unique feature of the emerging economies in Asia is the rich variation in the development of financial systems and technological sectors across different geographical areas. This unbalanced evolution provides us a potentially more powerful setting to investigate the dynamics among banking systems, innovations, intellectual property (IP) protections, and stock market reactions that are especially useful in understanding the policy–finance–innovation nexus in emerging economies. Using newly available data from China, this study confirms the nurturing role of financial systems on innovations, the value-enhancing function of firms' innovative activities, and the lead–lag predictive role of innovations on stock returns, in the context of emerging economies. More importantly, the study documents that stronger provincial IP protections reduce patent piracy and hence enhance local firms' market values.en_US
dc.languageengen_US
dc.publisherElsevier Inc. The Journal's web site is located at http://www.elsevier.com/locate/jbusresen_US
dc.relation.ispartofJournal of Business Researchen_US
dc.titleBanking systems, innovations, intellectual property protections, and financial markets: Evidence from Chinaen_US
dc.typeArticleen_US
dc.identifier.emailHsu, PH: paulhsu@hku.hken_US
dc.identifier.authorityHsu, PH=rp01553en_US
dc.identifier.doi10.1016/j.jbusres.2013.05.025en_US
dc.identifier.scopuseid_2-s2.0-84883817244-
dc.identifier.hkuros234306en_US
dc.identifier.volume66en_US
dc.identifier.issue12en_US
dc.identifier.spage2390–2396en_US
dc.identifier.epage2390–2396en_US
dc.identifier.isiWOS:000326214300004-
dc.publisher.placeUnited Statesen_US

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