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Does innovation matter for asymmetric cost behaviour? Evidence from forward citations to the patents

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  • Seul Gi Oh
  • Kyeongheum Ra
Abstract
This study investigates how innovation affects cost stickiness. Utilising data on patents of US firms between 1991 and 2022, we find that the extent of cost stickiness is greater with a greater number of forward citations for patents. We also find that the main relationship is more pronounced in high‐tech industries, high labour cost intensity, and market competition. In addition, we find that firms with a higher number of patents and forward citation experience a subsequent increase in sales. Overall, this makes a valuable addition to the extant literature, proposing that patents serve as an alternative driver of cost stickiness.

Suggested Citation

  • Seul Gi Oh & Kyeongheum Ra, 2024. "Does innovation matter for asymmetric cost behaviour? Evidence from forward citations to the patents," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 64(4), pages 3685-3711, December.
    • Handle: RePEc:bla:acctfi:v:64:y:2024:i:4:p:3685-3711
    DOI: 10.1111/acfi.13267
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