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Capital Market Response according to Payment Mechanism of Technology Transfer Agreement

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By investigating public announcements on technology transfer contracts in the stock exchange market in Korea, this study shows licensee and licensor choose one of fixed or output-contingent payment based on their financial condition at the time of technology transfer agreement. However, the capital market assesses the mixed type of them as the most effective payment to control total agent cost of licensee and licensor, and lead to successful technology transfer.

Abstract

By investigating public announcements on technology transfer contracts in the stock exchange market in Korea, this study shows licensee and licensor choose one of fixed or output-contingent payment based on their financial condition at the time of technology transfer agreement. However, the capital market assesses the mixed type of them as the most effective payment to control total agent cost of licensee and licensor, and lead to successful technology transfer.

참고문헌 (34)

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