Dynamics of first-time patenting firms

Øivind Nilsen and Arvid Raknerud

Research Policy, 2024, vol. 53, issue 8

Abstract: This paper investigates the dynamics of young firms in the period before and after their first-time patent application. The analysis is based on patent data from the Norwegian Industrial Property Office merged with data from several business registers covering a period of almost 20 years. We apply an event study design, supported by descriptive analyses, to assess the short- and long-term effects of patenting and use matching to control for confounding factors. Our results accord with the view that a young firm's innovation strategy, including how much to invest in R&D, is conceived before the intellectual property right is established. Furthermore, our results suggest that patenting exerts a lasting influence on the firm's R&D activity and impacts economic outcomes more broadly.

Keywords: Patenting; Firm performance; Panel data; Event study design (search for similar items in EconPapers)
JEL-codes: C33 D22 O34 (search for similar items in EconPapers)
Date: 2024
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Related works:
Working Paper: Dynamics of First-Time Patenting Firms (2022)
Working Paper: Dynamics of First-Time Patenting Firms (2022)
Working Paper: Dynamics of First-Time Patenting Firms (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:respol:v:53:y:2024:i:8:s0048733324001033

DOI: 10.1016/j.respol.2024.105054

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