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Patents that match your standards: Firm-level evidence on competition, innovation and growth

Author

Listed:
  • Bergeaud, Antonin
  • Schmidt, Julia
  • Zago, Riccardo

Abstract

When a technology becomes the new standard, the firms that are leaders in producing this technology gain a competitive advantage. Matching the semantic content of patents to standard documents, we show that firms closer to the new technology standard increase their market share and sales. In addition, if they operate in a competitive market, these firms also increase their R&D expenditure. Yet, these effects are temporary since standardization creates a common technological basis for everyone, which allows followers to catch up and the economy to grow.

Suggested Citation

  • Bergeaud, Antonin & Schmidt, Julia & Zago, Riccardo, 2026. "Patents that match your standards: Firm-level evidence on competition, innovation and growth," Journal of Financial Economics, Elsevier, vol. 180(C).
    • Handle: RePEc:eee:jfinec:v:180:y:2026:i:c:s0304405x26000528
    DOI: 10.1016/j.jfineco.2026.104281
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    JEL classification:

    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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