演讲人: Yan Zhang (Anthea)
题目：Stock market reaction to patent litigation: The role of plaintiff’s and defendant’s status
地点：北京大学光华新楼217
时间：11月19号 10:00-11:30
Yan Zhang (Anthea) Short Bio
Dr. Yan Zhang (Anthea) is a Professor of Management at China Europe International Business School (on leave from the Jesse H. Jones Graduate School of Business, Rice University). Dr. Zhang's areas of specialization include CEO succession and corporate governance, as well as foreign direct investment and technology entrepreneurship in emerging markets. Her research on these topics has been published in top-tier management journals including the Academy of Management Journal, Strategic Management Journal, andJournal of International Business Studies, among others. As evidence of the significance of her work in the management profession, her research has been written about in the business press on numerous occasions – including Financial Times, Wall Street Journal,New York Times, Business Week, The Economist, Investor’s Business Daily, CNBC, and USA Today. She is an associate editor of theAcademy of Management Journal and a consulting editor of Management and Organization Review. She is the recipient of the 2010Strategic Management Society (SMS) Emerging Scholar Award.
She received a B.A. and a M.A. in Economics from Nanjing University, China; a Master of Philosophy degree in International Business from City University of Hong Kong; and a Ph.D. in Business Policy and Strategy from the University of Southern California.
Abstract
The recent patent litigation between Apple and Samsung has attracted a lot of attention from practitioners, scholars as well as the general public. Indeed, this is not a rare case in the technology industries. It has been said that technology firms are either suing someone or have already sued someone. In this study, we examine how stock market reacted to the announcements of patent litigations. As expected, we find that stock market reacted positively to a plaintiff firm and negatively to a defendant firm. Interestingly, we also find that firms’ status, especially the relative status of the plaintiff and the defendant firms, affected stock market reactions to the announcements of patent litigations. These results not only contribute to the literature on patent litigation, but also shed lights on firms may benefit from negative association with other firms.
