Cross-border Patenting and Corporate Debt Capacity
5 Nov 2024
11:45 -13:00
Times are shown in local time.
Open to: All
Room W2.01 (Cambridge Judge Business School)
Trumpington St
Cambridge
CB2 1AG
United Kingdom
Join our Finance seminar
Speaker: Dr Sapnoti Eswar, University of St Andrews Business School
About the seminar topic
We use global patent data and exploit the staggered adoption of the Patent Prosecution Highway, a patent examination cooperation program to evaluate the effect of globalization of patents on debt capacity of firms. We show that patents filed globally are of higher quality, and loans to patenting firms increases.
This increase is driven by a reduction in information asymmetry in global lending markets. We also find that firms obtain international loans in low-tax countries which leads to a lower average tax burden. This lower burden creates a higher debt capacity for patenting firms.
Speaker bio
I am a Senior Lecturer at the University of St Andrews Business School. I study corporate finance, with a focus on innovation, entrepreneurship, venture capital, and mergers. My current investigations centre on the influence of taxation, and productivity on firm innovation. Simultaneously, I am also involved in evaluating the impact of human bias on academic citation counts. These dual research streams draw on multidisciplinary perspectives, intertwining economic, and financial theories to provide comprehensive insights of relevance to academics, policymakers and practitioners.
I have taught PhD, masters, and undergraduate students at the University of Cincinnati, and MBA and executive MBA students at Indiana University and London Business School. I completed my PhD from London Business School. Prior to joining academia, I worked in the M&A and Transaction Advisory team within Standard Chartered Bank, and in Corporate Finance at Tata Steel. Further information regarding my research can be found at Sapnoti Eswar, School of Economics and Finance, and S K Eswar, google site.
Register
No registration required. If you have any questions about this seminar, please email Nigel Low.