Does innovation matter for asymmetric cost behaviour? Evidence from forward citations to the patents

被引：1

作者：

Oh, Seul Gi ^{[1
]}

Ra, Kyeongheum ^{[1
]}

机构：

[1] Yonsei Univ, Sch Business, 50 Yonsei Ro, Seoul 03722, South Korea

来源：

ACCOUNTING AND FINANCE | 2024年

关键词：

asymmetric cost behaviour; cost stickiness; innovation; patents; PRODUCT MARKET COMPETITION; LABOR; ENTREPRENEURSHIP;

D O I：

10.1111/acfi.13267

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This study investigates how innovation affects cost stickiness. Utilising data on patents of US firms between 1991 and 2022, we find that the extent of cost stickiness is greater with a greater number of forward citations for patents. We also find that the main relationship is more pronounced in high-tech industries, high labour cost intensity, and market competition. In addition, we find that firms with a higher number of patents and forward citation experience a subsequent increase in sales. Overall, this makes a valuable addition to the extant literature, proposing that patents serve as an alternative driver of cost stickiness.

引用

页数：27

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