Optimal licensing strategy of green technology with corporate social responsibility
Abstract
This study investigates the green technology licensing strategies of firms with corporate social responsibility (CSR) in a duopoly market. The results show that in the absence of CSR, the optimal licensing contract is fixed-fee licensing for a patent holding firm. In the precent of CSR, the optimal licensing contract for a patent holding firm switches from fixed-fee licensing to royalty licensing with increasing level of CSR if the reduction cost of emissions is high. Moreover, we show that the profit goal of firm and the social welfare goal of government are not always mutually exclusive. If the level of CSR is low, a uniform licensing contract would be preferable. If the level of CSR is high, the optimal licensing contract is inconsistent. Finally, we show that CSR is not always beneficial to the social welfare while CSR benefits the environment. Social welfare benefits from increased CSR degree, but vice versa is true when CSR degree decreases. This research may provide valuable insights into licensing and CSR literature.
First published online 19 October 2022
Keyword : corporate social responsibility, licensing contract, green technology
How to Cite
Li, D., Shang, C., & Jiao, C. (2022). Optimal licensing strategy of green technology with corporate social responsibility. Technological and Economic Development of Economy, 28(6), 1791–1817. https://doi.org/10.3846/tede.2022.17662
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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Hattori, M., & Tanaka, Y. (2021). License and entry strategies for an outside innovator in Stackelberg duopoly with royalty and fixed-fee under vertical differentiation. International Journal of Economic Theory, 17(3), 234–257. https://doi.org/10.1111/ijet.12219
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Kim, S. L., Lee, S. H., & Matsumura, T. (2018). Eco-technology licensing by a foreign innovator and privatization policy in a polluting mixed duopoly. Asia-Pacific Journal of Accounting & Economics, 25(3–4), 433–448. https://doi.org/10.1080/16081625.2017.1339617
Kliestik, T., Nica, E., Musa, H., Poliak, M., & Mihai, E. A. (2020). Networked, smart, and responsive devices in Industry 4.0 manufacturing systems. Economics, Management, and Financial Markets, 15(3), 23–29. https://doi.org/10.22381/EMFM15320203
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Kovacova, M., & Lewis, E. (2021). Smart factory performance, cognitive automation, and industrial big data analytics in sustainable manufacturing internet of things. Journal of Self-Governance and Management Economics, 9(3), 9–21. https://doi.org/10.22381/jsme9320211
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KPMG. (2017). The KPMG survey of corporate responsibility reporting 2017. KPMG International. Zurich, Switzerland.
Lambertini, L., & Tampieri, A. (2015). Incentives, performance and desirability of socially responsible firms in a Cournot oligopoly. Economic Modelling, 50, 40–48. https://doi.org/10.1016/j.econmod.2015.05.016
Lazaroiu, G., Kliestik, T., & Novak, A. (2021). Internet of things smart devices, industrial artificial intelligence, and real-time sensor networks in sustainable cyber-physical production systems. Journal of Self-Governance and Management Economics, 9(1), 20–30. https://doi.org/10.22381/jsme9120212
Li, C., & Song, J. (2009). Technology licensing in a vertically differentiated duopoly. Japan and the World Economy, 21(2), 183–190. https://doi.org/10.1016/j.japwor.2008.04.002
Li, C., & Wang, J. (2010). Licensing a vertical product innovation. Economic Record, 86(275), 517–527. https://doi.org/10.1111/j.1475-4932.2010.00630.x
Li, D. (2021). Optimal licensing strategy of green technology in a mixed oligopoly: Fixed-fee versus royalty. Managerial and Decision Economics, 42(4), 942–951. https://doi.org/10.1002/mde.3283
Lioui, A., & Sharma, Z. (2012). Environmental corporate social responsibility and financial performance: Disentangling direct and indirect effects. Ecological Economics, 78, 100–111. https://doi.org/10.1016/j.ecolecon.2012.04.004
Liu, C. C., Wang, L. F., & Lee, S. H. (2015). Strategic environmental corporate social responsibility in a differentiated duopoly market. Economics Letters, 129, 108–111. https://doi.org/10.1016/j.econlet.2015.02.027
Lu, J., Ren, L., Zhang, Ch., Qiao, J., Kováčová, M., & Streimikis, J. (2020). Assessment of corporate social responsibility and its impacts on corporate reputation of companies in selected Balkan countries former Yugoslavia states. Technological and Economic Development of Economy, 26(2), 504–524. https://doi.org/10.3846/tede.2020.12069
Malkawi, E., & Khayrullina, M. (2021). Digital human skills from the corporate economy and business development. Ekonomicko-manazerske spektrum, 15(1), 64–74. https://doi.org/10.26552/ems.2021.1.64-74
Marakova, V., Wolak-Tuzimek, A., & Tučková, Z. (2021). Corporate social responsibility as a source of competitive advantage in large enterprises. Journal of Competitiveness, 13(1), 113–128. https://doi.org/10.7441/joc.2021.01.07
Martín-Herrán, G., & Rubio, S. J. (2018). Second-best taxation for a polluting monopoly with abatement investment. Energy Economics, 73, 178–193. https://doi.org/10.1016/j.eneco.2018.05.019
Niu, S. (2018). Price and quantity competition in an asymmetric duopoly with licensing. Journal of Public Economic Theory, 20(6), 896–913. https://doi.org/10.1111/jpet.12332
Noci, G., & Verganti, R. (1999). Managing “green” product innovation in small firms. R&D Management, 29(1), 3–15. https://doi.org/10.1111/1467-9310.00112
Ouchida, Y. (2019). Cooperative choice of corporate social responsibility in a bilateral monopoly model. Applied Economics Letters, 26(10), 799–806. https://doi.org/10.1080/13504851.2018.1497843
Ouchida, Y., & Goto, D. (2016). Cournot duopoly and environmental R&D under regulator’s precommitment to an emissions tax. Applied Economics Letters, 23(5), 324–331. https://doi.org/10.1080/13504851.2015.1073831
Petrakis, E., & Xepapadeas, A. P. (1998). Does government precommitment promote environmental innovation? (Nota di Lavoro, No. 88.1998). Fondazione Eni Enrico Mattei (FEEM), Milano.
Porter, M. E., & Kramer, M. R. (2006). Strategy and society: The link between corporate social responsibility and competitive advantage. Harvard Business Review, 84(12), 78–92.
Porter, M. E., & Kramer, M. R. (2011). Creating shared value. Harvard Business Review, 89, 62–77.
Porter, M. E., & Van der Linde, C. (1995). Toward a new conception of the environment-competitiveness relationship. Journal of Economic Perspectives, 9(4), 97–118. https://doi.org/10.1257/jep.9.4.97
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