Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/78498
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dc.contributorSchool of Accounting and Financeen_US
dc.creatorChen, Sen_US
dc.creatorMeng, Wen_US
dc.creatorLu, HTen_US
dc.date.accessioned2018-09-28T01:16:43Z-
dc.date.available2018-09-28T01:16:43Z-
dc.identifier.urihttp://hdl.handle.net/10397/78498-
dc.language.isoenen_US
dc.publisherJohn Wiley & Sonsen_US
dc.rights© 2018 Korean Securities Associationen_US
dc.rightsThis is the peer reviewed version of the following article: Chen, S., Meng, W., & Lu, H. (2018). Patent as a Quality Signal in Entrepreneurial Finance: A Look Beneath the Surface. Asia‐Pacific Journal of Financial Studies, 47(2), 280-305, which has been published in final form at https://doi.org/10.1111/ajfs.12211. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This article may not be enhanced, enriched or otherwise transformed into a derivative work, without express permission from Wiley or by statutory rights under applicable legislation. Copyright notices must not be removed, obscured or modified. The article must be linked to Wiley’s version of record on Wiley Online Library and any embedding, framing or otherwise making available the article or pages thereof by third parties from platforms, services and websites other than Wiley Online Library must be prohibited.en_US
dc.subjectPatenten_US
dc.subjectVenture capitalen_US
dc.subjectSignalingen_US
dc.subjectInnovationen_US
dc.titlePatent as a quality signal in entrepreneurial finance : a look beneath the surfaceen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage280en_US
dc.identifier.epage305en_US
dc.identifier.volume47en_US
dc.identifier.issue2en_US
dc.identifier.doi10.1111/ajfs.12211en_US
dcterms.abstractWe examine the value of patents on Chinese firms' access to venture capital (VC). We find that the patent applications (grants) of firms significantly increase their likelihood of obtaining VC funding in the following year(s), particularly for high-quality patents in high-tech industries. Depending on investment, patent quantity significantly improves the size of VC investment and firm valuation. This effect is pronounced in first-round investment, strong intellectual property protection regions, during periods of loose monetary policy, and state/corporate VC. Overall, we support the use of patent as a quality signal in attracting entrepreneurial finance outside the US and warrant the conditions it holds.en_US
dcterms.accessRightsopen accessen_US
dcterms.bibliographicCitationAsia-Pacific journal of financial studies, Apr. 2018, v. 47, no. 2, p. 280-305en_US
dcterms.isPartOfAsia-Pacific journal of financial studiesen_US
dcterms.issued2018-04-
dc.identifier.isiWOS:000431970200004-
dc.identifier.scopus2-s2.0-85046672942-
dc.identifier.eissn2041-6156en_US
dc.identifier.rosgroupid2017000167-
dc.description.ros2017-2018 > Academic research: refereed > Publication in refereed journalen_US
dc.description.validate201809 bcrcen_US
dc.description.oaAccepted Manuscripten_US
dc.identifier.FolderNumberAF-0126-
dc.description.fundingSourceOthersen_US
dc.description.fundingTextChinese Fundamental Research Fund for Central Universities (JBK170106) and the National Natural Science Foundation of China (#71503225 and #71573174)en_US
dc.description.pubStatusPublisheden_US
dc.identifier.OPUS6838334-
dc.description.oaCategoryGreen (AAM)en_US
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