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Patent infringement litigation, development of financial technology, and corporate financing costs

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  • Jia, Xiaolan
  • Zhang, Yi
  • Thaler, Jeffrey A.

Abstract

This paper selects Chinese listed companies from 2010 to 2023 as the subject of study and systematically analyzes the interrelationship among patent infringement litigation, the development of financial technology, and corporate financing costs. The study finds that: (1) Patent infringement litigation can significantly reduce corporate financing costs. (2) The development of financial technology plays a significant moderating role in the relationship between patent infringement litigation and corporate financing costs, and this moderating effect varies among companies with different levels of profitability. (3) The impact of patent infringement litigation on corporate financing costs exhibits a significant threshold effect, meaning that as the intensity of research and development investment increases, the suppressive effect of patent infringement litigation on corporate financing costs further strengthens.

Suggested Citation

  • Jia, Xiaolan & Zhang, Yi & Thaler, Jeffrey A., 2025. "Patent infringement litigation, development of financial technology, and corporate financing costs," Finance Research Letters, Elsevier, vol. 86(PC).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pc:s154461232501832x
    DOI: 10.1016/j.frl.2025.108578
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