题　目：Contractual Control of Knowledge Diffusion Risk — Evidence from Licensing Contracts

嘉　宾：Hui Kai Wai 許繼偉 Professor The University of Hong Kong

主持人：黄立 助理教授 上海交通大学安泰经济与管理学院

时　间：2024年04月17日（周三）14:00-15:30

地　点：上海交通大学 徐汇校区安泰楼A403室

内容简介:

The paper studies the knowledge diffusion risk in shaping inter-firm contractual design. While knowledge diffusion through downstream takeover of licensees may improve licensing value due to acquirers’ superior capacity, it arouses licensors’ concerns about proprietary harms. The licensor weights these costs and benefits and defines the boundary of knowledge diffusion through assignment clauses. We find that downstream takeover risk increases licensors’ usage of restrictive assignment clauses, wherein licensors retain decision rights about the assignability of their know-how to the successor of a downside takeover, suggesting the dominance of proprietary concerns. The effect is stronger when licensors have greater concerns about proprietary harms but weakens when the benefits of knowledge diffusion through downstream takeover are greater. Further analyses reveal that constraining knowledge diffusion to safeguard proprietary information may compromise collaboration value.

演讲人简介：

Prof. Kai Wai Hui is a full professor from the University of Hong Kong. His research interest covers financial accounting, corporate disclosures and information intermediaries. He has publications in top-tier journals including Journal of Accounting Research, Journal of Accounting and Economics and the Accounting Review.

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