The European patent information policy of the European Patent Organisation (EPO) derives from a 1988 decision of the Administrative Council of the EPO. The intent of the policy is…
Abstract
The European patent information policy of the European Patent Organisation (EPO) derives from a 1988 decision of the Administrative Council of the EPO. The intent of the policy is to improve access to patent information for European users, to encourage innovation and to strengthen Europe's position on technical information exchange with Japan and the USA. The EPO markets a number of data products, such as CD‐ROM and online databases, including the services of INPADOC, which was integrated with the EPO in 1990. These data are available at cost to non‐commercial organisations and at market rates for commercial use. The information is also disseminated through European national patent offices, with whom the EPO maintains a close cooperation.
PATENTLY CLEAR According to information published on the Web site of the European Patent Office (http://www.european‐patent‐office.org/pi_ndex.htm), $20 000 million a year is…
Abstract
PATENTLY CLEAR According to information published on the Web site of the European Patent Office (http://www.european‐patent‐office.org/pi_ndex.htm), $20 000 million a year is wasted in Europe as a result of duplicated research. This is a substantial sum and clearly any company would be keen to avoid such wastage.
Zhuo June Cheng, Yinghua Min, Feng Tian and Sean Xin Xu
The purpose of this paper is to investigate how customer relationship management (CRM) implementation affects internal capital allocation efficiency, the efficiency with which a…
Abstract
Purpose
The purpose of this paper is to investigate how customer relationship management (CRM) implementation affects internal capital allocation efficiency, the efficiency with which a firm allocates its capital across its business segments.
Design/methodology/approach
The authors use a statistical regression method to analyze a sample of 801 unique firms in the USA from COMPUSTAT and the Computer Intelligence database. This analysis examines the relation between CRM implementation and internal capital allocation efficiency and identifies the conditions under which firms benefit more from CRM implementation. They also use instrumental variables (IVs) to address endogenous concerns with a two-stage least squares (2SLS) model.
Findings
The authors find that CRM implementation is positively related to internal capital allocation efficiency. The results are robust to the 2SLS analysis with IVs. This positive relation is more pronounced for firms with effective internal control and for those operating in highly competitive markets.
Practical implications
The research implies that that CRM can have a significant cross-functional effect on corporate financing and budgeting. This also suggests that when chief marketing officers plan marketing initiatives and implement CRM, they should communicate to chief financial officers not only the direct effect but also the indirect strategic benefits of such initiatives to a firm.
Originality/value
The authors reveal a previously overlooked aspect of marketing accountability by suggesting marketing’s impact on internal capital markets. They also enrich the body of literature on CRM benefits by showing a cross-functional benefit from marketing to finance (or capital allocation).