Earticle

초록

영어

IT industry has become patent-intensive due to the rapid advances in technology and the fierce competition among firms. While prior studies indicate financial returns from investments in IT patents are unclear, recent patent wars in IT industry suggest that IT patents may be of great value. We examine the impact of IT patents as an intangible IT resource on firm value in IT industry, while also considering the moderating effect of firms’ innovation orientation (exploitative vs. explorative). Moreover, we examine how environmental uncertainty influences the relationship between firms’ IT patents, innovation orientation, and performance. Our results suggest that the impact of IT patents on firm value is positive and significant. More importantly, we find that this impact varies depending on firms’ innovation orientation. Further, we find that the moderating effect of innovation orientation is influenced significantly by the two dimensions of environmental uncertainty (i.e., competitiveness and dynamism).

목차

Abstract
 Introduction
 Related Literature
  IT Patent as a Key Resource
  Patent as Real Option
 Hypotheses Development
  IT Patent Stock and Firm Value
  Moderating Role of Environmental Uncertainty
 Methods
  Data and Variables
  Empirical Models and Estimation Procedure
 Results
 Discussion and Conclusion
 References

저자

• Sunghun Chung [ Department of Information Systems, Desautels Faculty of Management McGill University, Montreal, H3A 1G5 CANADA ]
• Animesh Animesh [ Department of Information Systems, Desautels Faculty of Management McGill University, Montreal, H3A 1G5 CANADA ]
• Kunsoo Han [ Department of Information Systems, Desautels Faculty of Management McGill University, Montreal, H3A 1G5 CANADA ]
• Alain Pinsonneault [ Department of Information Systems, Desautels Faculty of Management McGill University, Montreal, H3A 1G5 CANADA ]

참고문헌