Dissertation
Innovation and Entrepreneurship Research
Innovation and Entrepreneurship Research
This dissertation studies new phenomena in digitalization and patent systems, including the evaluation of a major life science digitalization project and the examination of patent value in an international framework.
The first essay studies the impact of the European Union’s Human Brain Project (HBP), a ten-year project (2013–2023) to build a community and digital infrastructure to support neuroscience, computing, and brain-related medicine. We construct novel data and use difference-in-difference and natural language processing for analysis. We find increased diverse participation, especially among junior faculty. HBP engagement leads to increased productivity, expanded coauthor networks, more citations, and a higher likelihood of publishing in top neuroscience journals. Neurotech fields (neuroscience and CS/AI) see heightened productivity, mainly led by junior scholars.
The second essay explores short and medium-term stock market reactions to information on patents. Using a firm-level approach, we connect international patent disclosures to stock market responses for U.S. companies (1980–2022). Our findings indicate strong stock price reactions to initial international disclosures and to information about the quality of an invention. Employing a hedonic decomposition of patent value, we estimate individual patent values and provide a dataset with value estimates for over 2 million patent families at first disclosure.