We document that firms holding academic patents in their portfolios perform better in terms of market power since they benefit from academic knowledge spillovers generated by academic patents. On the other hand, we detect a negative effect on firms’ short-term profitability imputable to a larger fixed cost associated to the acquisition and exploitation of these patents. In terms of policy, our analysis suggests focusing on company-owned academic patents. A set of economic incentives dedicated to university–industry knowledge transfer through academic patents could support integration between basic and applied research.

中文翻译：

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公司拥有的学术专利会影响公司的业绩吗？来自意大利工业的证据

我们记录到，在其投资组合中持有学术专利的公司在市场支配力方面表现更好，因为它们受益于学术专利所产生的学术知识外溢。另一方面，我们发现对公司的短期盈利能力有负面影响，这归因于与获取和利用这些专利有关的较大固定成本。在政策方面，我们的分析建议着重于公司拥有的学术专利。一系列旨在通过学术专利转让大学-行业知识的经济激励措施可以支持基础研究与应用研究之间的整合。