Abstract
ABSTRACT By exploiting the health emergencies in China, we investigate the strategic reactions concerning patenting strategies to public health crises. Results show that firms maintained innovation input levels during the Severe Acute Respiratory Syndrome (SARS) period. Moreover, firms relied more on past technological paths and became technologically more specialized, as responses to SARS. In addition, we find that the main effects are weaker among pharmaceutical companies and that there is a positive treatment effect on invention patent applications and grants. Our findings remain valid after accounting for potential endogeneity problems with a variety of robustness tests.
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