 Banking systems, innovations, intellectual property protections, and financial markets: Evidence from ChinaPo-Hsuan Hsu, Chong Wang and Chaopeng Wu Journal of Business Research, 2013, vol. 66, issue 12, 2390-2396 Abstract: One 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. Keywords: Banking; China; Innovations; Intellectual property; Patents; Piracy (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:66:y:2013:i:12:p:2390-2396 DOI: 10.1016/j.jbusres.2013.05.025 Access Statistics for this article Journal of Business Research is currently edited by A. G. Woodside More articles in Journal of Business Research from Elsevier |
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