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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 7-八月-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.2010.63Beccalli, 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.2006.10.022Bolli, T., & Woerter, M. (2013). Technological Diversification and Innovation Performance. Ssrn, (336). https://doi.org/10.2139/ssrn.2275193Calantone, 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/10.1111/0022-1082.00411Chen, 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.2009.06.003Gaétan 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.2005.09.006Goel, 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.1005962107Griliches, Z. (1990). Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature (Vol. 27). https://doi.org/10.1016/S0169-7218(10)02009-5Hannu 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.2018.05.013Hirschey, 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.2003.01.001Kauffman, 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.2014.12.001Kim, 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/10.1080/10438590902793315Kim, 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.2015.07.005Kings, 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.2008.04.024Kook, 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/su9071239Lanjouw, 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.xLerner, J., & Seru, A. (2017). The use and misuse of patent data. NBER Working Paper, (March), 1–41. https://doi.org/10.3386/w24053LICĂ, L., & TUTĂ, M. (2011). Predicting Product Performance with Social Media. Informatica Economică, 15(2), 46–56. https://doi.org/10.1109/WI-IAT.2009.53Lin, 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.2014.02.014Luo, X., Zhang, J., & Duan, W. (2013). Social Media and Firm EquityValue. Information Systems Research, 24(1), 146–163. https://doi.org/10.1287/isre.1120.0462Mark, 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-2012-1-7Piscitello, L. (2005). Corporate Diversification, Coherence and Firm Innovative Performance. Revue d’économie Industrielle, 110(1), 127–148. https://doi.org/10.3406/rei.2005.3075Rajapathirana, 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.2017.06.002Swanson, E. B. (1994). Information Systems Innovation Among Organizations. Management Science, 40(9), 1069–1092. https://doi.org/10.1287/mnsc.40.9.1069Thompson, 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.2016.03.003Trappey, 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.2011.06.005Valentini, 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/smjWorld 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-Lu en_US dc.contributor.author (作者) 陳禹丞 zh_TW dc.contributor.author (作者) Chen, Yu-Chen en_US dc.creator (作者) 陳禹丞 zh_TW dc.creator (作者) Chen, Yu-Chen en_US dc.date (日期) 2019 en_US dc.date.accessioned 7-八月-2019 16:08:04 (UTC+8) - dc.date.available 7-八月-2019 16:08:04 (UTC+8) - dc.date.issued (上傳時間) 7-八月-2019 16:08:04 (UTC+8) - dc.identifier (其他 識別碼) G0106356033 en_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) 106356033 zh_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 VLIST OF FIGURES VILIST OF TABLES VIICHAPTER 1: INTRODUCTION 1CHAPTER 2: LITERATURE REVIEW 42-1 IT INNOVATION IN BANKING 42-2 THE INFLUENCE OF PATENT QUALITY AND PATENT QUANTITY ON BANK PERFORMANCE 62-3 PATENT DIVERSITY 72-4 PATENT POPULARITY 8CHAPTER 3: RESEARCH FRAMEWORK 103-1 PATENT QUALITY AND QUANTITY 103-2 PATENT DIVERSITY 113-3 PATENT POPULARITY 12CHAPTER 4: DATA 13CHAPTER 5: ANALYSIS AND RESULTS 215-1 MODEL OF PANEL ANALYSES 215-2 FINDINGS 23CHAPTER 6: CONCLUSION 25REFERENCE 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/#G0106356033 en_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 media en_US dc.subject (關鍵詞) Fintech Patent en_US dc.subject (關鍵詞) Innovation en_US dc.subject (關鍵詞) Firm Performance en_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 Level en_US dc.type (資料類型) thesis en_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.2010.63Beccalli, 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.2006.10.022Bolli, T., & Woerter, M. (2013). Technological Diversification and Innovation Performance. Ssrn, (336). https://doi.org/10.2139/ssrn.2275193Calantone, 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/10.1111/0022-1082.00411Chen, 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.2009.06.003Gaétan 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.2005.09.006Goel, 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.1005962107Griliches, Z. (1990). Patent Statistics as Economic Indicators: A Survey. Journal of Economic Literature (Vol. 27). https://doi.org/10.1016/S0169-7218(10)02009-5Hannu 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.2018.05.013Hirschey, 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.2003.01.001Kauffman, 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.2014.12.001Kim, 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/10.1080/10438590902793315Kim, 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.2015.07.005Kings, 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.2008.04.024Kook, 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/su9071239Lanjouw, 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.xLerner, J., & Seru, A. (2017). The use and misuse of patent data. NBER Working Paper, (March), 1–41. https://doi.org/10.3386/w24053LICĂ, L., & TUTĂ, M. (2011). Predicting Product Performance with Social Media. Informatica Economică, 15(2), 46–56. https://doi.org/10.1109/WI-IAT.2009.53Lin, 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.2014.02.014Luo, X., Zhang, J., & Duan, W. (2013). Social Media and Firm EquityValue. Information Systems Research, 24(1), 146–163. https://doi.org/10.1287/isre.1120.0462Mark, 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-2012-1-7Piscitello, L. (2005). Corporate Diversification, Coherence and Firm Innovative Performance. Revue d’économie Industrielle, 110(1), 127–148. https://doi.org/10.3406/rei.2005.3075Rajapathirana, 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.2017.06.002Swanson, E. B. (1994). Information Systems Innovation Among Organizations. Management Science, 40(9), 1069–1092. https://doi.org/10.1287/mnsc.40.9.1069Thompson, 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.2016.03.003Trappey, 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.2011.06.005Valentini, 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/smjWorld 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/NCCU201900560 en_US
