金融專利與期貨商經營模式的研究

A Study on Financial Patents and the Business Model for Futures Firms

專利是知識資本化的具體成果，本文從創新體系、金融集團經營型態及企業經營管理等角度，逐一分析期貨商的金融專利活動，以及該專利活動對於期貨商經營績效的影響。本文發現，設立金融科技創新基地對於期貨商金融專利存量的提升，效果並不明顯，且對經營績效有負面影響，但設立金融科技創新基地有利於縮短專利申請案件的審查天數。其次，金融集團經營型態方面，期貨商加入金融控股集團，並無助於金融專利的發明，且對於期貨商的經營績效並無正面效益，反觀，加入非金控的證券集團的期貨商，有利於金融專利的發明，亦有利於提升經營績效；最後，在期貨商財務狀況方面，期貨商每股淨值有助於期貨商金融專利的發明，每股營收則不明顯。此外，有關期貨商專利活動未來發展，本文亦提供相關建議。

Patents are the result of the knowledge capitalization. This study analyzes financial patents activities in futures firms based on the perspectives of innovation systems, types of financial groups and their management activities. We find that the FinTechBase does not have a significantly positive effect in the stock of financial patents for futures firms, and it has a significantly negative effect for futures firms’ performance, but helps to shorten the number of examination days for patent applications of futures firms. Futures firms joining the financial holding group do not contribute to their invention of financial patents and performance, but they joining a securities group positive contribute to their inventions of financial patents. Finally, the book value per share of futures firms contributes to the invention of their financial patents, while revenue per share is not obvious. We also provide some suggestions for the development patent activities of futures firms.