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Mega Firms and New Technological Trajectories in the U.S

Author

Listed:
  • Joonkyu Choi
  • Serguey Braguinsky
  • Yuheng Ding
  • Karam Jo
  • Seula Kim

Abstract

We provide evidence that mega firms have played an increasingly important role in shaping new technological trajectories in recent years. While the share of novel patents—defined as patents introducing new combinations of technological components—produced by mega firms declined until around 2000, it has rebounded sharply since then. Furthermore, we find that the technological impact and knowledge diffusion of novel patents by mega firms have grown relative to those by non-mega firms after 2001. We also explore potential drivers of this trend, presenting evidence that the rise in novel patenting by mega firms is tied to their disproportionate increase in cash holdings and the expansion of their technological scope. Our findings highlight an overlooked positive role of mega firms in the economywide innovation process.

Suggested Citation

  • Joonkyu Choi & Serguey Braguinsky & Yuheng Ding & Karam Jo & Seula Kim, 2023. "Mega Firms and New Technological Trajectories in the U.S," NBER Working Papers 31460, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:31460
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    Cited by:

    1. Macher, Jeffrey T. & Rutzer, Christian & Weder, Rolf, 2024. "Is there a secular decline in disruptive patents? Correcting for measurement bias," Research Policy, Elsevier, vol. 53(5).
    2. Teresa C. Fort & Nathan Goldschlag & Jack Liang & Peter K. Schott & Nikolas Zolas, 2025. "Growth is Getting Harder to Find, Not Ideas," Working Papers 25-21, Center for Economic Studies, U.S. Census Bureau.
    3. Mohammed Abdulfasi, 2024. "The Transformative Patent Landscape in Saudi Arabia Since the Saudi Vision 2030 Announcement," Publications, MDPI, vol. 12(4), pages 1-16, December.

    More about this item

    JEL classification:

    • L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • 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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