Fake Products, Real Effects: Evidence from Special 301 Actions
研究美国通过特别301报告在外国实施反假冒执法如何影响本国企业，发现执法提升了销售额、盈利和估值，但减少了资本和研发投入，同时改善了品牌资产、盈利、创新、市场渗透和客户忠诚度。
Abstract We study how the U.S. government’s anti-counterfeiting enforcement actions through Special 301 Reports influence U.S. businesses. We show that anti-counterfeiting enforcement in foreign countries improves U.S. firms’ sales, profitability, and valuations. Firms significantly reduce capital and research and development investments when their brands and products are protected from counterfeiting activities. Anti-counterfeiting enforcement measures also improve brand asset value, brand profitability, brand inventiveness, market penetration, and customer loyalty.