Economic Analysis of R&D, Intellectural Property Right, and Productivity

本研究探讨研发与智慧财产权。首先，我研究了美国国际贸易委员会（USITC）的专利侵权诉讼。美国《关税法》第337条规定了专利侵权的“行政诉讼”。与普通的专利诉讼不同，它处理的是进口商品造成的侵权。由于337条款诉讼受特别程序管辖，因此具有很强的执行力。我估计与337条款诉讼相关的公司价值的变化。我们发现了一些典型的事实。例如，一项投诉（据称侵权）通常会以被告（据称侵权者）为代价显著增加其价值。专利以外的特征，如“行政法官”、“产业类型”和“企业国籍”的个人效应影响决策。第二，研究企业价值与知识产权的关系。制药企业包括两种类型的资产。一种是“有形资产”，如PPE（财产、厂房和设备），另一种是“无形资产”，如专利。后者的价值包括“期权价值”，因为企业需要投资于研究和开发，将技术转化为商业产品。对制药企业的价值进行了估算，并将其与专利权的期权价值联系起来。第三，研究了日本大学和非营利性研究机构的作用。企业的研发生产力取决于开展学术研究的社会基础设施。虽然这一作用被广泛宣传，但只有有限数量的实证研究来评估学术研究对商业研究的影响。通过使用制药和生物技术的专利数据，我评估了非营利性研究机构的作用，以及他们的技术是如何转移到企业和其他行业。

This research investigates R&D and intellectual property right. First, I study patent infringement suits at United States International Trade Commission (USITC). The US Section 337 of the Tariff Act regulates "administrative suit" on patent infringement. Unlike ordinary patent suits, it deals with infringement made by imported goods. Because the Section 337 suits is governed by special procedures, it has a strong enforcement power. I estimate the change of corporate value associated with the Section 337 suits. Several stylized facts are found. For example, a complaint (allegedly infringed) usually increases its value significantly at the expense of respondents (allegedly infringer). Characteristics other than patent such as individual effects of "administrative judge", "type of industries", and "nationality of the firm" affect the decisions.Second I investigate the relationship between firm value and intellectual property rights. Pharmaceutical firms consist of two types of assets. One is "tangible assets" like PPE (properties, plants, and equipments), the other is "intangible assets" like patents. Value of the latter consists of "option value" because the firm needs to invest in research and development to transform technology to commercial products. I estimate the value of pharmaceutical firms and relate it to option value of patent.Third I study the roles of universities and non-profit research institutes of Japan. Productivities of R&D of firms depend on social-infrastructure in which academic research is carried out. Although this role is widely publicized, there is only limited number of empirical studies to evaluate impact of academic research on commercial research. By using patent data on pharmaceutical and biotechnology, I evaluate the roles of non-profit research institutes, and how their technology is transferred to firms and other industries.