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The Impact of Patent Applications in the Context of the ESG Model at World Level

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  • Leogrande, Angelo
  • Leogrande, Domenico
  • Costantiello, Alberto

Abstract

In the following article, we estimate the value of Patent Applications-PA in the context of the Environmental, Social and Governance-ESG model at world level. We use data from World Bank for 193 countries in the period 2011-2021. We found that PA is positively associated, among others, to “ CO 2 Emissions ” and “ Mammal Species Threated ”, and negatively associated among others to “ Hospital Beds ” and “ Research and Development Expenditures ”. Furthermore, we found that at aggregate level PA is negatively associated to each macro component of the ESG model i.e.: Environment, Social and Governance. Furthermore, we have applied eight different machine-learning algorithms for the prediction of the future value of PA. We found that the best predictive algorithm is the Simple Regression Tree in terms of minimization of MAE, RMSE and MSE and maximization of R-squared. The value of PA is predicted to growth by an average of 9.82% for the analysed countries.

Suggested Citation

  • Leogrande, Angelo & Leogrande, Domenico & Costantiello, Alberto, 2023. "The Impact of Patent Applications in the Context of the ESG Model at World Level," EconStor Preprints 273495, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:273495
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    References listed on IDEAS

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    1. Costantiello, Alberto & Leogrande, Angelo, 2023. "The Impact Of Research And Development Expenditures On Esg Model In The Global Economy," SocArXiv xy6ew, Center for Open Science.
    2. Clarence Tolliver & Hidemichi Fujii & Alexander Ryota Keeley & Shunsuke Managi, 2021. "Green Innovation and Finance in Asia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 16(1), pages 67-87, January.
    3. Leogrande, Angelo & Costantiello, Alberto, 2023. "The Role of GDP Growth in the ESG Approach at World Level," MPRA Paper 117206, University Library of Munich, Germany.
    4. Angelo Leogrande & Alberto Costantiello, 2023. "The Labor Force Participation Rate in the Context of ESG Models at World Level," Working Papers hal-04114330, HAL.
    5. Angelo Leogrande & Domenico Leogrande & Alberto Costantiello, 2023. "The Impact of Patent Applications in the Context of the ESG Model at World Level," Working Papers hal-04165252, HAL.
    6. Costantiello, Alberto & Leogrande, Angelo, 2023. "The Determinants of CO2 Emissions in the Context of ESG Models at World Level," MPRA Paper 117110, University Library of Munich, Germany.
    7. Leogrande, Angelo, 2023. "The Usage of Internet in the Context of ESG Model at World Level," MPRA Paper 117743, University Library of Munich, Germany.
    8. Costantiello, Alberto & Leogrande, Angelo, 2023. "The Role of Political Stability in the Context of ESG Models at World Level," MPRA Paper 116887, University Library of Munich, Germany.
    9. Grazia Dicuonzo & Francesca Donofrio & Simona Ranaldo & Vittorio Dell'Atti, 2022. "The effect of innovation on environmental, social and governance (ESG) practices," Meditari Accountancy Research, Emerald Group Publishing Limited, vol. 30(4), pages 1191-1209, April.
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    11. Broadstock, David C. & Matousek, Roman & Meyer, Martin & Tzeremes, Nickolaos G., 2020. "Does corporate social responsibility impact firms' innovation capacity? The indirect link between environmental & social governance implementation and innovation performance," Journal of Business Research, Elsevier, vol. 119(C), pages 99-110.
    12. Fengyan Wang & Ziyuan Sun, 2022. "Does the Environmental Regulation Intensity and ESG Performance Have a Substitution Effect on the Impact of Enterprise Green Innovation: Evidence from China," IJERPH, MDPI, vol. 19(14), pages 1-24, July.
    13. Chen, Lifeng & Khurram, Muhammad Usman & Gao, Yuying & Abedin, Mohammad Zoynul & Lucey, Brian, 2023. "ESG disclosure and technological innovation capabilities of the Chinese listed companies," Research in International Business and Finance, Elsevier, vol. 65(C).
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    1. Leogrande, Angelo & Leogrande, Domenico & Costantiello, Alberto, 2023. "The Impact of Patent Applications in the Context of the ESG Model at World Level," EconStor Preprints 273495, ZBW - Leibniz Information Centre for Economics.

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    More about this item

    Keywords

    Political Processes; Legislatures; Corruption;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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