The effects of knowledge base characteristics on patent pledge financing: the moderating effects of technological munificence and dynamism
Journal of Knowledge Management
ISSN: 1367-3270
Article publication date: 29 March 2024
Issue publication date: 16 May 2024
Abstract
Purpose
This study aims to examine how the knowledge breadth and depth of a patent affect its likelihood of being pledged. It also seeks to explore whether these relationships change diversely in different technological environments.
Design/methodology/approach
A complementary log-log model with random effects was conducted to test the hypotheses using a unique data set consisting of 348,927 invention patents granted by the China National Intellectual Property Administration from 1985 to 2015 belonging to 74,996 firms.
Findings
The findings reveal that both knowledge breadth and depth of a patent positively affect its likelihood of being pledged. Furthermore, the knowledge breadth and depth entail different degrees of superiority in different technological environments.
Research limitations/implications
This study focuses on the effect of an individual patent’s knowledge base on its likelihood of being selected as collateral. It does not consider the influence of the overall knowledge characteristics of the selected patent portfolio.
Practical implications
Managers need to pay attention to patents’ knowledge characteristics and the changes in technological environments to select the most suitable patents as collateral and thus improve the success rate of pledge financing.
Originality/value
This study explores the impact of multidimensional characteristics of knowledge base on patent pledge financing within a systematic theoretical framework and incorporates technological environments into this framework.
Keywords
Acknowledgements
Declarations of interest: none.
Funding: This work was supported by the National Natural Science Foundation of China [Grant number 71971146]; The Education Department of Sichuan Province [Grant number CJZB21-01]; Science and Technology Department of Sichuan Province [Grant number 23RKX0600]; the Fundamental Research Funds for the Central Universities [Grant number SXYPY202335, 2023ZY-SX009]; and Sichuan University [Grant number 2022zdpy-03, 2019hhs-18].
Citation
Zhang, Z., Yang, X., Yang, X. and Gu, X. (2024), "The effects of knowledge base characteristics on patent pledge financing: the moderating effects of technological munificence and dynamism", Journal of Knowledge Management, Vol. 28 No. 5, pp. 1228-1248. https://doi.org/10.1108/JKM-05-2023-0369
Publisher
:Emerald Publishing Limited
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