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題名 金融科技專利與銀行績效-基於企業層級之時間序列與橫斷面資料分析
Fintech Patents and Bank Performance: Evidence from the Time-Series Cross-Section Analyses on the Firm Level
作者 陳禹丞
Chen, Yu-Chen
貢獻者 張欣綠
Chang, Hsin-Lu
陳禹丞
Chen, Yu-Chen
關鍵詞 社群媒體
金融科技專利
創新
企業績效
Social media
Fintech Patent
Innovation
Firm Performance
日期 2019
上傳時間 7-Aug-2019 16:08:04 (UTC+8)
摘要 近年來，金融科技在銀行和科技業掀起一陣炫風。一些研究發現，專利質量對公司的股票價格或價值主張有正向影響。在先前的研究中，使用專利質量和數量等專利資訊來衡量企業的技術創新。在本研究中，我們提出了兩個新的專利指標，專利多樣性和專利普及性。結合傳統專利指標：專利質量和數量，我們討論這些專利資訊對於公司績效的影響。我們特別專注於金融科技專利和銀行績效。我們從USPTO收集橫跨7年（2012年至2018年）的28家銀行的專利資料。結果顯示，金融科技的專利質量，專利多樣性和專利普及性與銀行績效呈正相關，但專利數量與銀行績效呈負相關。我們的研究結果有助於銀行了解金融科技專利與銀行績效之間的關係。為銀行業經理人提供政策或決策上的參考指導。
In recent years, financial technology (“fintech”) has gone viral in the banking and technological industries. Some studies have found that patent quality positively impacts a firm’s stock price or value propositions. Previous studies have used patent information, such as patent quality and quantity, to measure a firm’s technological innovations. In this study, we propose two new patent indicators: patent diversity and patent popularity. Combining traditional patent indicators—quality and quantity—we discuss the impact of this patent information on a firm’s performance. We specifically focused on fintech patents and bank performance and collected patent data from the USPTO using 28 banks across 7 years periods (2012 until 2018). The results show that fintech patent quality, patent diversity, and patent popularity are positively associated with bank performance, but patent quantity has a negative association with bank performance. Our findings help the banks to understand the relationship between fintech patents and bank performance. The results can provide managers in the bank industry with reference guidance for policy or decision making.
參考文獻 Almeida, P., & Kogut, B. (1997). The exploration of technical diversity and the geographic localisation of innovation. Small Business Economics, 9(1), 21–31.
Asur, S., & Huberman, B. A. (2010). Predicting the future with social media. Proceedings - 2010 IEEE/WIC/ACM International Conference on Web Intelligence, WI 2010, 1, 492–499. https://doi.org/10.1109/WI-IAT.2010.63
Beccalli, E. (2007). Does IT investment improve bank performance? Evidence from Europe. Journal of Banking and Finance, 31(7), 2205–2230. https://doi.org/10.1016/j.jbankfin.2006.10.022
Bolli, T., & Woerter, M. (2013). Technological Diversification and Innovation Performance. Ssrn, (336). https://doi.org/10.2139/ssrn.2275193
Calantone, R. J., Cavusgil, S. T., & Zhao, Y. (2002). Learning orientation , firm innovation capability , and firm performance, 31, 515–524.
Chan, L. K. C., Lakonishok, J., & Sougiannis, T. (2001). The Stock Market Valuation of Research. The Journal of Finance, LVI(6), 2431–2456. https://doi.org/10.1111/0022-1082.00411
Chen, Y. S., & Chang, K. C. (2010). The relationship between a firm’s patent quality and its market value - The case of US pharmaceutical industry. Technological Forecasting and Social Change, 77(1), 20–33. https://doi.org/10.1016/j.techfore.2009.06.003
Gaétan de Rassenfosse. (2013). Do Firms Face a Trade-Off between the Quantity and the Quality of Their Inventions ?, (6).
Garcia-Vega, M. (2006). Does technological diversification promote innovation?: An empirical analysis for European firms. Research Policy, 35(2), 230–246. https://doi.org/10.1016/j.respol.2005.09.006
Goel, S., Hofman, J. M., Lahaie, S., Pennock, D. M., & Watts, D. J. (2010). Predicting consumer behavior with Web search, 2010, 1–5. https://doi.org/10.1073/pnas.1005962107
Griliches, Z. (1990). Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature (Vol. 27). https://doi.org/10.1016/S0169-7218(10)02009-5
Hannu Kärkkäinen, Jari Jussila, J. V. (2018). Social Media Use and Potential in Business-to-Business Companies’ Innovation. MindTrek ’10 Proceedings of the 14th International Academic MindTrek Conference: Envisioning Future Media Environments, 228–236. https://doi.org/10.1016/j.amjmed.2018.05.013
Hirschey, M., & Richardson, V. J. (2004). Are scientific indicators of patent quality useful to investors? Journal of Empirical Finance, 11(1), 91–107. https://doi.org/10.1016/j.jempfin.2003.01.001
Kauffman, R. J., Liu, J., & Ma, D. (2015). Innovations in financial IS and technology ecosystems: High-frequency trading in the equity market. Technological Forecasting and Social Change, 99, 339–354. https://doi.org/10.1016/j.techfore.2014.12.001
Kim, H., Lim, H., & Park, Y. (2009). How should firms carry out technological diversification to improve their performance? An analysis of patenting of Korean firms. Economics of Innovation and New Technology, 18(8), 757–770. https://doi.org/10.1080/10438590902793315
Kim, J., Lee, C. Y., & Cho, Y. (2016). Technological diversification, core-technology competence, and firm growth. Research Policy, 45(1), 113–124. https://doi.org/10.1016/j.respol.2015.07.005
Kings, B. (2011). Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services.
Koellinger, P. (2008). The relationship between technology, innovation, and firm performance-Empirical evidence from e-business in Europe. Research Policy, 37(8), 1317–1328. https://doi.org/10.1016/j.respol.2008.04.024
Kook, S. H., Kim, K. H., & Lee, C. (2017). Dynamic technological diversification and its impact on firms’ performance An empirical analysis of Korean IT firms. Sustainability (Switzerland), 9(7). https://doi.org/10.3390/su9071239
Lanjouw, J. O., & Schankerman, M. (2004). Patent quality and research productivity: Measuring innovation with multiple indicators. The Economic Journal, 114(495), 441–465. https://doi.org/10.1111/j.1468-0297.2004.00216.x
Lerner, J., & Seru, A. (2017). The use and misuse of patent data. NBER Working Paper, (March), 1–41. https://doi.org/10.3386/w24053
LICĂ, L., & TUTĂ, M. (2011). Predicting Product Performance with Social Media. Informatica Economică, 15(2), 46–56. https://doi.org/10.1109/WI-IAT.2009.53
Lin, C., & Chang, C. C. (2015). The effect of technological diversification on organizational performance: An empirical study of S&P 500 manufacturing firms. Technological Forecasting and Social Change, 90(PB), 575–586. https://doi.org/10.1016/j.techfore.2014.02.014
Luo, X., Zhang, J., & Duan, W. (2013). Social Media and Firm EquityValue. Information Systems Research, 24(1), 146–163. https://doi.org/10.1287/isre.1120.0462
Mark, H., & Richardson, V. J. (2011). Valuation effects of patent quality: A comparison for Japanese and U.S. firms.
Piller, F., Vossen, A., & Ihl, C. (2012). From Social Media to Social Product Development: The Impact of Social Media on Co-Creation of Innovation. Die Unternehmung, 66(1), 7–27. https://doi.org/10.5771/0042-059X-2012-1-7
Piscitello, L. (2005). Corporate Diversification, Coherence and Firm Innovative Performance. Revue d’économie Industrielle, 110(1), 127–148. https://doi.org/10.3406/rei.2005.3075
Rajapathirana, R. P. J., & Hui, Y. (2017). Relationship between innovation capability, innovation type, and firm performance. Journal of Innovation & Knowledge, 3(1), 44–55. https://doi.org/10.1016/j.jik.2017.06.002
Swanson, E. B. (1994). Information Systems Innovation Among Organizations. Management Science, 40(9), 1069–1092. https://doi.org/10.1287/mnsc.40.9.1069
Thompson, M. J. (2016). Measuring patent quality: A claim and search report approach. World Patent Information, 45, 47–54. https://doi.org/10.1016/j.wpi.2016.03.003
Trappey, A. J. C., Trappey, C. V., Wu, C. Y., & Lin, C. W. (2012). A patent quality analysis for innovative technology and product development. Advanced Engineering Informatics, 26(1), 26–34. https://doi.org/10.1016/j.aei.2011.06.005
Valentini, G. (2012). Research Notes and Commentaries Measuring The Effect of M&A on Patenting Quantity and Quality on Technological Performance, 346(April 2009), 336–346. https://doi.org/10.1002/smj
World Economic Forum. (2015). The Future of Financial Services How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed.
Yao, M., Di, H., Zheng, X., & Xu, X. (2018). Impact of payment technology innovations on the traditional financial industry: A focus on China. Technological Forecasting and Social Change, 135(February 2017), 199–207. https://doi.org/10.1016/j.techfore.2017.12.023
描述 碩士
國立政治大學
資訊管理學系
106356033
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0106356033
資料類型 thesis
dc.contributor.advisor 張欣綠zh_TW
dc.contributor.advisor Chang, Hsin-Luen_US
dc.contributor.author (Authors) 陳禹丞zh_TW
dc.contributor.author (Authors) Chen, Yu-Chenen_US
dc.creator (作者) 陳禹丞zh_TW
dc.creator (作者) Chen, Yu-Chenen_US
dc.date (日期) 2019en_US
dc.date.accessioned 7-Aug-2019 16:08:04 (UTC+8)-
dc.date.available 7-Aug-2019 16:08:04 (UTC+8)-
dc.date.issued (上傳時間) 7-Aug-2019 16:08:04 (UTC+8)-
dc.identifier (Other Identifiers) G0106356033en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/124716-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 資訊管理學系zh_TW
dc.description (描述) 106356033zh_TW
dc.description.abstract (摘要) 近年來，金融科技在銀行和科技業掀起一陣炫風。一些研究發現，專利質量對公司的股票價格或價值主張有正向影響。在先前的研究中，使用專利質量和數量等專利資訊來衡量企業的技術創新。在本研究中，我們提出了兩個新的專利指標，專利多樣性和專利普及性。結合傳統專利指標：專利質量和數量，我們討論這些專利資訊對於公司績效的影響。我們特別專注於金融科技專利和銀行績效。我們從USPTO收集橫跨7年（2012年至2018年）的28家銀行的專利資料。結果顯示，金融科技的專利質量，專利多樣性和專利普及性與銀行績效呈正相關，但專利數量與銀行績效呈負相關。我們的研究結果有助於銀行了解金融科技專利與銀行績效之間的關係。為銀行業經理人提供政策或決策上的參考指導。zh_TW
dc.description.abstract (摘要) In recent years, financial technology (“fintech”) has gone viral in the banking and technological industries. Some studies have found that patent quality positively impacts a firm’s stock price or value propositions. Previous studies have used patent information, such as patent quality and quantity, to measure a firm’s technological innovations. In this study, we propose two new patent indicators: patent diversity and patent popularity. Combining traditional patent indicators—quality and quantity—we discuss the impact of this patent information on a firm’s performance. We specifically focused on fintech patents and bank performance and collected patent data from the USPTO using 28 banks across 7 years periods (2012 until 2018). The results show that fintech patent quality, patent diversity, and patent popularity are positively associated with bank performance, but patent quantity has a negative association with bank performance. Our findings help the banks to understand the relationship between fintech patents and bank performance. The results can provide managers in the bank industry with reference guidance for policy or decision making.en_US
dc.description.tableofcontents TABLE OF CONTENT V
LIST OF FIGURES VI
LIST OF TABLES VII
CHAPTER 1: INTRODUCTION 1
CHAPTER 2: LITERATURE REVIEW 4
2-1 IT INNOVATION IN BANKING 4
2-2 THE INFLUENCE OF PATENT QUALITY AND PATENT QUANTITY ON BANK PERFORMANCE 6
2-3 PATENT DIVERSITY 7
2-4 PATENT POPULARITY 8
CHAPTER 3: RESEARCH FRAMEWORK 10
3-1 PATENT QUALITY AND QUANTITY 10
3-2 PATENT DIVERSITY 11
3-3 PATENT POPULARITY 12
CHAPTER 4: DATA 13
CHAPTER 5: ANALYSIS AND RESULTS 21
5-1 MODEL OF PANEL ANALYSES 21
5-2 FINDINGS 23
CHAPTER 6: CONCLUSION 25
REFERENCE 27		zh_TW
dc.format.extent 928231 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0106356033en_US
dc.subject (關鍵詞) 社群媒體zh_TW
dc.subject (關鍵詞) 金融科技專利zh_TW
dc.subject (關鍵詞) 創新zh_TW
dc.subject (關鍵詞) 企業績效zh_TW
dc.subject (關鍵詞) Social mediaen_US
dc.subject (關鍵詞) Fintech Patenten_US
dc.subject (關鍵詞) Innovationen_US
dc.subject (關鍵詞) Firm Performanceen_US
dc.title (題名) 金融科技專利與銀行績效-基於企業層級之時間序列與橫斷面資料分析zh_TW
dc.title (題名) Fintech Patents and Bank Performance: Evidence from the Time-Series Cross-Section Analyses on the Firm Levelen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) Almeida, P., & Kogut, B. (1997). The exploration of technical diversity and the geographic localisation of innovation. Small Business Economics, 9(1), 21–31.
Asur, S., & Huberman, B. A. (2010). Predicting the future with social media. Proceedings - 2010 IEEE/WIC/ACM International Conference on Web Intelligence, WI 2010, 1, 492–499. https://doi.org/10.1109/WI-IAT.2010.63
Beccalli, E. (2007). Does IT investment improve bank performance? Evidence from Europe. Journal of Banking and Finance, 31(7), 2205–2230. https://doi.org/10.1016/j.jbankfin.2006.10.022
Bolli, T., & Woerter, M. (2013). Technological Diversification and Innovation Performance. Ssrn, (336). https://doi.org/10.2139/ssrn.2275193
Calantone, R. J., Cavusgil, S. T., & Zhao, Y. (2002). Learning orientation , firm innovation capability , and firm performance, 31, 515–524.
Chan, L. K. C., Lakonishok, J., & Sougiannis, T. (2001). The Stock Market Valuation of Research. The Journal of Finance, LVI(6), 2431–2456. https://doi.org/10.1111/0022-1082.00411
Chen, Y. S., & Chang, K. C. (2010). The relationship between a firm’s patent quality and its market value - The case of US pharmaceutical industry. Technological Forecasting and Social Change, 77(1), 20–33. https://doi.org/10.1016/j.techfore.2009.06.003
Gaétan de Rassenfosse. (2013). Do Firms Face a Trade-Off between the Quantity and the Quality of Their Inventions ?, (6).
Garcia-Vega, M. (2006). Does technological diversification promote innovation?: An empirical analysis for European firms. Research Policy, 35(2), 230–246. https://doi.org/10.1016/j.respol.2005.09.006
Goel, S., Hofman, J. M., Lahaie, S., Pennock, D. M., & Watts, D. J. (2010). Predicting consumer behavior with Web search, 2010, 1–5. https://doi.org/10.1073/pnas.1005962107
Griliches, Z. (1990). Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature (Vol. 27). https://doi.org/10.1016/S0169-7218(10)02009-5
Hannu Kärkkäinen, Jari Jussila, J. V. (2018). Social Media Use and Potential in Business-to-Business Companies’ Innovation. MindTrek ’10 Proceedings of the 14th International Academic MindTrek Conference: Envisioning Future Media Environments, 228–236. https://doi.org/10.1016/j.amjmed.2018.05.013
Hirschey, M., & Richardson, V. J. (2004). Are scientific indicators of patent quality useful to investors? Journal of Empirical Finance, 11(1), 91–107. https://doi.org/10.1016/j.jempfin.2003.01.001
Kauffman, R. J., Liu, J., & Ma, D. (2015). Innovations in financial IS and technology ecosystems: High-frequency trading in the equity market. Technological Forecasting and Social Change, 99, 339–354. https://doi.org/10.1016/j.techfore.2014.12.001
Kim, H., Lim, H., & Park, Y. (2009). How should firms carry out technological diversification to improve their performance? An analysis of patenting of Korean firms. Economics of Innovation and New Technology, 18(8), 757–770. https://doi.org/10.1080/10438590902793315
Kim, J., Lee, C. Y., & Cho, Y. (2016). Technological diversification, core-technology competence, and firm growth. Research Policy, 45(1), 113–124. https://doi.org/10.1016/j.respol.2015.07.005
Kings, B. (2011). Bank 2.0: How Customer Behavior and Technology Will Change the Future of Financial Services.
Koellinger, P. (2008). The relationship between technology, innovation, and firm performance-Empirical evidence from e-business in Europe. Research Policy, 37(8), 1317–1328. https://doi.org/10.1016/j.respol.2008.04.024
Kook, S. H., Kim, K. H., & Lee, C. (2017). Dynamic technological diversification and its impact on firms’ performance An empirical analysis of Korean IT firms. Sustainability (Switzerland), 9(7). https://doi.org/10.3390/su9071239
Lanjouw, J. O., & Schankerman, M. (2004). Patent quality and research productivity: Measuring innovation with multiple indicators. The Economic Journal, 114(495), 441–465. https://doi.org/10.1111/j.1468-0297.2004.00216.x
Lerner, J., & Seru, A. (2017). The use and misuse of patent data. NBER Working Paper, (March), 1–41. https://doi.org/10.3386/w24053
LICĂ, L., & TUTĂ, M. (2011). Predicting Product Performance with Social Media. Informatica Economică, 15(2), 46–56. https://doi.org/10.1109/WI-IAT.2009.53
Lin, C., & Chang, C. C. (2015). The effect of technological diversification on organizational performance: An empirical study of S&P 500 manufacturing firms. Technological Forecasting and Social Change, 90(PB), 575–586. https://doi.org/10.1016/j.techfore.2014.02.014
Luo, X., Zhang, J., & Duan, W. (2013). Social Media and Firm EquityValue. Information Systems Research, 24(1), 146–163. https://doi.org/10.1287/isre.1120.0462
Mark, H., & Richardson, V. J. (2011). Valuation effects of patent quality: A comparison for Japanese and U.S. firms.
Piller, F., Vossen, A., & Ihl, C. (2012). From Social Media to Social Product Development: The Impact of Social Media on Co-Creation of Innovation. Die Unternehmung, 66(1), 7–27. https://doi.org/10.5771/0042-059X-2012-1-7
Piscitello, L. (2005). Corporate Diversification, Coherence and Firm Innovative Performance. Revue d’économie Industrielle, 110(1), 127–148. https://doi.org/10.3406/rei.2005.3075
Rajapathirana, R. P. J., & Hui, Y. (2017). Relationship between innovation capability, innovation type, and firm performance. Journal of Innovation & Knowledge, 3(1), 44–55. https://doi.org/10.1016/j.jik.2017.06.002
Swanson, E. B. (1994). Information Systems Innovation Among Organizations. Management Science, 40(9), 1069–1092. https://doi.org/10.1287/mnsc.40.9.1069
Thompson, M. J. (2016). Measuring patent quality: A claim and search report approach. World Patent Information, 45, 47–54. https://doi.org/10.1016/j.wpi.2016.03.003
Trappey, A. J. C., Trappey, C. V., Wu, C. Y., & Lin, C. W. (2012). A patent quality analysis for innovative technology and product development. Advanced Engineering Informatics, 26(1), 26–34. https://doi.org/10.1016/j.aei.2011.06.005
Valentini, G. (2012). Research Notes and Commentaries Measuring The Effect of M&A on Patenting Quantity and Quality on Technological Performance, 346(April 2009), 336–346. https://doi.org/10.1002/smj
World Economic Forum. (2015). The Future of Financial Services How disruptive innovations are reshaping the way financial services are structured, provisioned and consumed.
Yao, M., Di, H., Zheng, X., & Xu, X. (2018). Impact of payment technology innovations on the traditional financial industry: A focus on China. Technological Forecasting and Social Change, 135(February 2017), 199–207. https://doi.org/10.1016/j.techfore.2017.12.023		zh_TW
dc.identifier.doi (DOI) 10.6814/NCCU201900560en_US