학술활동
[2021년 제 2차] Intellectual Property Rights and Employee Stock Option Compensation: Evidence from Court of Appeals Federal Circuit Ruling in 2008
작성자 : 관리자
조회수 : 233
게시일 :
2021-06-22
This study uses the Court of Appeals Federal Circuit (CAFC) ruling in 2008 as a quasi–natural experiment to examine the effects of the patent ownership shift from inventor employee to an employer on employee stock option compensation and its consequences on a firm’s innovation activities. I find that treated firms, which are located in formerly pro-employee invention assignment states, increase employee stock option compensation and innovation activities following CAFC ruling in 2008. Further analysis indicates that an increase in employee stock option compensation is not driven by a firm’s financial constraint. My evidence highlights the role of employee option compensation in motivating employees’ innovation activities effectively.