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The impact of Leahy-Smith America Invents Act on Financial Analysts' Information Environment of Innovative Firms

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dc.contributor.authorHuang, Rui
dc.contributor.authorLu, Yi (Louise)
dc.contributor.authorWu, Hai (Steven)
dc.coverage.spatialNew York, USA
dc.date.accessioned2019-10-08T02:40:35Z
dc.date.issued2016
dc.date.updated2019-04-21T08:27:14Z
dc.description.abstractThe Leahy-Smith America Invents Act of 2011 (‘AIA’) fundamentally changed the public patent system of the United States. This study examines the impact of the enactment of the AIA on analysts’ information environment of innovative firms. The results show that analysts’ forecast errors and dispersions increased while their coverage declined for innovative firms after the switch to the AIA, as compared with non-innovative firms. The finding suggests that innovative firms’ information environment has declined under the AIA regime. This unintended consequence not only weakens market efficiency but also works against lawmakers’ efforts to promote patent-related knowledge diffusion in society.en_AU
dc.format.mimetypeapplication/pdfen_AU
dc.identifier.urihttp://hdl.handle.net/1885/173558
dc.language.isoen_AUen_AU
dc.publisherAmerican Accounting Associationen_AU
dc.relation.ispartofseriesAmerican Accounting Association Annual Meeting and Conference on Teaching and Learning in Accounting
dc.rights© 2016 The Authorsen_AU
dc.source.urihttp://tkuir.lib.tku.edu.tw:8080/dspace/bitstream/987654321/109539/1/Do%20reputable%20auditors%20matter%20for%20corporate%20transparency_%E8%AD%B0%E7%A8%8B.pdfen_AU
dc.titleThe impact of Leahy-Smith America Invents Act on Financial Analysts' Information Environment of Innovative Firmsen_AU
dc.typeConference paperen_AU
local.bibliographicCitation.lastpage41en_AU
local.bibliographicCitation.startpage1en_AU
local.contributor.affiliationHuang, Rui, College of Business and Economics, ANUen_AU
local.contributor.affiliationLu, Yi (Louise), College of Business and Economics, ANUen_AU
local.contributor.affiliationWu, Hai (Steven), College of Business and Economics, ANUen_AU
local.contributor.authoruidHuang, Rui, u4973691en_AU
local.contributor.authoruidLu, Yi (Louise), u3373786en_AU
local.contributor.authoruidWu, Hai (Steven), u4612281en_AU
local.description.embargo2037-12-31
local.description.notesImported from ARIESen_AU
local.description.refereedYes
local.identifier.absfor150199 - Accounting, Auditing and Accountability not elsewhere classifieden_AU
local.identifier.absfor150101 - Accounting Theory and Standardsen_AU
local.identifier.absseo909999 - Commercial Services and Tourism not elsewhere classifieden_AU
local.identifier.ariespublicationu4189736xPUB5en_AU
local.publisher.urlhttps://aaahq.org/en_AU
local.type.statusPublished Versionen_AU

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