References of "Sandner, Philipp"
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See detailThe impact of acquisitions on Chinese acquirers' innovation performance: An empirical investigation of 1,545 Chinese acquisitions
Fisch, Christian UL; Block, Jörn; Sandner, Philipp

in Journal of Business Economics (2019), 89(2), 125-153

Acquisitions by Chinese firms have increased markedly in recent years. So far, we know little about the effects of these acquisitions on the acquirer’s innovation performance. Our paper focuses on two ... [more ▼]

Acquisitions by Chinese firms have increased markedly in recent years. So far, we know little about the effects of these acquisitions on the acquirer’s innovation performance. Our paper focuses on two interrelated research questions. First, to what extent can Chinese firms increase their patent output following an acquisition? Second, which factors influence the post-acquisition patent output? Using a comprehensive dataset of 697 publicly listed Chinese firms in the manufacturing sector that conducted 1545 acquisitions from 2000 to 2012, we find no significant overall effect of acquisitions on patent output. However, we find that several acquisition-specific factors have a positive effect on the post-acquisition patent output (e.g., size of the acquired knowledge base, relatedness of the acquired knowledge base, cross-border acquisitions). Our study extends prior research on post-acquisition innovation performance to the context of Chinese acquirers. [less ▲]

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See detailA personality perspective on business angel syndication
Block, Jörn; Fisch, Christian UL; Obschonka, Martin et al

in Journal of Banking and Finance (2019), 100

The decision to syndicate investments in entrepreneurial finance has been explained through financial, networking, and resource-based perspectives. We posit that a personality perspective exists next to ... [more ▼]

The decision to syndicate investments in entrepreneurial finance has been explained through financial, networking, and resource-based perspectives. We posit that a personality perspective exists next to these three perspectives and hypothesize that the personality of business angels influences syndication behavior. Using data from 3,234 syndication decisions of 1,348 business angels, we find evidence for some of our predictions. By measuring personality through a comprehensive language analysis based on digital footprints in Twitter statements of business angels, we show that extraversion makes syndication more likely, whereas conscientiousness reduces the likelihood of syndication. Several sensitivity analyses underline the robustness of our main results. Further exploratory analyses assess the relationship between personality and syndicate composition as well as that between personality and venture success. Our study contributes to the entrepreneurial finance literature by adding and validating a new perspective to explain syndication behavior. In addition, our study contributes to research on the personality of business angels. [less ▲]

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See detailThe value of Chinese patents: An empirical investigation of citation lags
Fisch, Christian UL; Sandner, Philipp; Regner, Lukas

in China Economic Review (2017), 45

China has been experiencing a substantial growth in patent applications. But is this increase accompanied by a similar increase in patent value? To assess this question, we examine the citation lag of ... [more ▼]

China has been experiencing a substantial growth in patent applications. But is this increase accompanied by a similar increase in patent value? To assess this question, we examine the citation lag of Chinese patents as a proxy of patent value in comparison with patents from the US, Europe, Japan, and Korea. Our empirical analysis comprises a unique data set of 60,000 patents with priority years between 2000 and 2010. Utilizing Cox regressions, our results show that Chinese patents suffer from a large citation lag in comparison to international patents, indicating a lower value. This is especially true for patents filed domestically. However, we find empirical support for an increasing patent value in more recent patents. China shows a strong dynamic in the field of patenting and our results suggest that the gap between Chinese patents and international patents might narrow down in the near future. [less ▲]

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See detailChinese university patents: quantity, quality, and the role of subsidy programs
Fisch, Christian UL; Block, Jörn; Sandner, Philipp

in Journal of Technology Transfer (2016), 41(1), 60-84

Chinese university patenting has gained importance in recent years. Using a comprehensive dataset of university patents by 155 leading Chinese universities from 1991 to 2009, our study pursues two ... [more ▼]

Chinese university patenting has gained importance in recent years. Using a comprehensive dataset of university patents by 155 leading Chinese universities from 1991 to 2009, our study pursues two objectives: First, we analyze the quantity and quality of patents filed by leading Chinese universities. Second, we analyze the role of subsidy programs with regard to university patenting in China. With regard to the first objective, our results show that university patents witnessed rapid growth in terms of quantity while patent quality did not increase to a similar degree. Regarding the second objective, we find that a subsidy program to promote research excellence at selected universities is a significant driver of patent quantity and quality. In contrast, a subsidy program that decreases the costs of patent applications seems to enhance patent quantity but not patent quality. We conclude that innovation policies which aim to stimulate patents of higher quality should focus primarily on increasing university R&D, and to a lesser extent on decreasing the costs of university patenting. [less ▲]

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See detailWhy do SMEs file trademarks? Insights from firms in innovative industries
Block, Jörn; Fisch, Christian UL; Hahn, Alexander et al

in Research Policy (2015), 44(10), 1915-1930

Trademark filings have increased markedly over time. Although prior research has investigated the out-comes of trademark registration, including its effects on firm market valuation and productivity ... [more ▼]

Trademark filings have increased markedly over time. Although prior research has investigated the out-comes of trademark registration, including its effects on firm market valuation and productivity, little isknown about why firms file trademarks. However, to interpret the increase in trademark filings and itseconomic effects, it is important to know and understand why firms file trademarks. Because trademarksare particularly important to small and medium-sized enterprises (SMEs), this study analyzes trademark-ing motives using a survey of 600 SMEs in innovative industries. An exploratory factor analysis yieldsthree distinct motives: protection, marketing, and exchange. A cluster analysis reveals four distinct clus-ters of firms with respect to the three trademarking motives. A comparison of these clusters revealssignificant differences in several industry- and firm-level characteristics, including participation in ser-vice industries and relationships with external parties. Implications for research on SMEs, trademarks,and intellectual property management are discussed. [less ▲]

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See detailUniversity patenting: a comparison of 300 leading universities worldwide
Fisch, Christian UL; Hassel, Tobias; Sandner, Philipp et al

in Journal of Technology Transfer (2015), 40(2), 318-345

Despite a worldwide increase in university patenting, empirical studies have largely focused on analyzing university patenting in individual countries and regions. We provide analyses from an ... [more ▼]

Despite a worldwide increase in university patenting, empirical studies have largely focused on analyzing university patenting in individual countries and regions. We provide analyses from an international perspective, examining patents at the top 300 universities worldwide. By providing a patent ranking system and an analysis of the determinants of university patenting, we enable an international comparison not only between different countries but also between universities within countries. A ranking of the top-patenting universities shows a huge predominance of US universities: 18 of the top 25 universities are located in the US, with the Massachusetts Institute of Technology being ranked first. Our results show that the propensity to apply for patents is very high among US and Asian universities, while European universities lag behind. In addition to the home country, further determinants of university patenting are the quantity of the universities’ publications and a technological focus in areas such as chemistry and mechanical engineering. However, the size of a university and the quality of its publications are not found to be significant determinants. [less ▲]

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See detailTrademark families: characteristics and market values
Block, Jörn; Fisch, Christian UL; Sandner, Philipp

in Journal of Brand Management (2014), 21(1), 150-170

Research shows that financial markets value trademarks. Often, a firm’s trademarks can be decomposed into groups of related trademarks (trademark families). This study identifies different types of ... [more ▼]

Research shows that financial markets value trademarks. Often, a firm’s trademarks can be decomposed into groups of related trademarks (trademark families). This study identifies different types of trademark families and analyzes their respective effects on the market values of large, publicly listed firms. The results show that financial markets value only those trademarks that develop existing brands, while they do not value the creation of new trademarks. The implications of the results for corporate intellectual property and brand management are discussed. [less ▲]

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