Topic: Personal Bankruptcy Law and Innovation around the World
Readier discharge in personal bankruptcy law(PBL)increases patent, citation, and new patent counts, all measures of innovation in tensity. Such PBL reforms also reallocate innovation across industries to better align with innovation opportunities proxied for by the distribution of innovation across US industries. Both effects are driven by changes in SME patenting, are absent in data for large established firms. and are damped in countries that impose minimum capital requirements on new firms. This suggests pro-debtor PBL reforms intensify and redistribute innovation by new, initially small firms which can develop radical potentially disruptive innovations unattractive to large established firms with extensive investment in existing technologies. Pro-debtor PBL reforms also increase value-added growth rates across all industries, but by larger margins in industries with more innovation opportunities. PBL reforms and patent data are for 33 countries from 1990to2002. with subsequent years used to measure citations to patents in this period. Difference-in-difference tests, year and country-industry fixed-effects. and control variables aid in identification.
Keynote speaker: RONG Shao
Rong Shao is a professor and PhD supervisor of the Wenlan School of Business, ZUEL. He has served as an associate professor at Southwest University of Finance and Economics and Nanjing Audit University. His research interests include corporate innovation, corporate finance and population mobility. He has published more than 20 papers in Research Policy, Small Business Economics, Journal of Comparative Economics, China Economic Review, European Financial Management, Pacific-Basin Finance Journal, Journal of Housing Economics, Management World, China Economics Quarterly, Journal of Financial Research, Science Research Management and other well-known economic, financial and management journals.
Moderator: Dr. Wan Xin (full-time researcher at IIDPF)
Time: Thursday, 13 April 2023, 11:00-12:30
Venue: Conference Room 119, Wenqin Building