演講者簡介 : Dr. Po-Hsuan Hsu received his Ph.D. in Finance from Columbia University in 2007. He is currently the Tsing Hua Distinguished Chair Professor at National Tsing Hua University. His research interests lie in the interaction between technological innovations and financial markets, entrepreneurship, and financial econometrics.
演講摘要 : By constructing a comprehensive dataset of startups and their patenting and trademarking activities, we track the evolution and landscape of green entrepreneurship in the U.S. over the past four decades. We observe strong growth in the creation of green intellectual properties (IPs) by startups in aggregate: the proportion of startups with any green IPs increases from 2% in the 1980s to 7% in the 2010s. Specifically, the fraction of green patents (trademarks) filed by startups grew from 5% (2%) in the 1980s to 23% (5%) in the 2010s. We also observe significant cross-state variation in the growth of the proportion and count of startups with green IPs and startups having self-curated business profiles with high frequencies of environment-related keywords. We further examine how the surge of green entrepreneurship could be explained by education, policy incentives, and public attention to climate issues. We document significant increases in the number of green startups and the average startup’s proportion of green IPs when (i) a green research institute is established in a local university, (ii) local community receives more green investment from the American Recovery and Reinvestment Act, and (iii) natural disasters impact neighboring counties.
