Download or read book Innovations, Intellectual Property Protection, and Financial Markets written by Po-Hsuan Hsu and published by . This book was released on 2014 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study explores the interaction between innovations and financial markets using data of China that present significant geographic variations in development. Provincial banking development encourages local innovations, and provincial intellectual property (IP) protection raises the market values of local firms. Firm-level innovations have a positive effect on market valuation and predict stock returns. Moreover, provincial IP piracy deteriorates the market values of innovative local firms in high-tech industries.