专利诉讼与研发活动对科技公司影响的实证研究  

Empirical Research on the Impact of Patent Litigation and R&D Activities on Technology Companies

作　　者：何隽 张虹颖 He Juan;Zhang Hongying(Tsinghua Shenzhen International Graduate School,Shenzhen 518055,China)

机构地区：[1]清华大学深圳国际研究生院,广东深圳518055

出　　处：《科技管理研究》2020年第6期193-200,共8页Science and Technology Management Research

基　　金：国家知识产权局软科学项目“基因技术专利保护新动向研究”(SS18-B-31);深圳市软科学项目“深圳提升基础研究和产业创新能力实施策略研究”(RKX20180413181939223);清华大学深圳国际研究生院海外科研合作基金项目“药品专利与印度仿制药产业研究”(HW201811)。

摘　　要：以在纳斯达克上市的EDIT、CRSP和NTLA 3家典型生物科技公司为研究对象,通过事件研究法分析专利诉讼与研发活动对科技公司市场价值的短期动态影响。研究表明:专利、技术稳定性以及临床试验进展是中短期影响公司市场价值的重要因素;市场对专利诉讼的一审判决最为敏感,随着诉讼局势明朗,技术稳定性和临床试验进展对公司市值的影响比重逐步提高。在此基础上,对新创生物科技公司在专利诉讼策略、研发活动信息披露以及负面技术信息应对等方面提出建议。Taking Nasdaq-listed EDIT、CRSP and NTLA,the three typical biotech companies as research objects,this paper analyzes the short-term dynamic effects of patent litigation and R&D activities."on the market value of technology companies through event research.The result shows that patent,technical stability and clinical trial are important influence factors of the market value in the short and medium term;investors are sensitive to the first-instance judgment of patent litigation,with the situation of patent litigation becoming clear,the influence of technical stability and clinical trial on the market value is gradually increasing.Based on the conclusions above,specific suggestions are put forward in terms of patent litigation strategy,information disclosure of R&D activities,and response of negative technical information.

关 键 词：CRISPR/Cas9 生物科技 上市公司市值 专利诉讼 研发活动 事件研究 

分 类 号：G306[文化科学] F272.3[经济管理—企业管理]