Prevention Is Better Than Cure? Climate Mitigation and Adaptation Patents and Firm Performance

IF 12.5 1区管理学 Q1 BUSINESS

Business Strategy and The Environment Pub Date : 2025-03-26 DOI:10.1002/bse.4260

Pankaj C. Patel

引用次数: 0

Abstract

Drawing on recombinant uncertainty theory and using panel data regression analysis with firm, state, and industry fixed effects, we examine how stock markets react to firms' climate‐related patent approvals. We find a positive stock market response to mitigation patents but no reaction to adaptation patents. The patent technological breadth and patents in Rapidly Evolving Technology (RETech) enhance the positive association with mitigation patents but diminish it for adaptation patents. These findings contribute to our understanding of how technological scope and innovation pace shape market perceptions of climate innovations. The findings have important implications for firms' invention strategies and provide valuable insights for policymakers seeking to incentivize effective climate‐related technological developments.

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预防胜于治疗？气候减缓和适应专利与企业绩效

利用重组不确定性理论，并使用公司、州和行业固定效应的面板数据回归分析，我们研究了股票市场对公司与气候相关的专利批准的反应。我们发现股票市场对缓解专利有积极的反应，但对适应专利没有反应。快速发展技术（RETech）中的专利技术广度和专利增强了与缓解专利的正相关，但削弱了与适应专利的正相关。这些发现有助于我们理解技术范围和创新速度如何影响市场对气候创新的看法。这些发现对企业的发明战略具有重要意义，并为寻求激励有效的气候相关技术发展的政策制定者提供了有价值的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.