{"id":"https://openalex.org/W2353066356","doi":"https://doi.org/10.1002/smj.2533","title":"Money secrets: How does trade secret legal protection affect firm market value? Evidence from the uniform trade secret act","display_name":"Money secrets: How does trade secret legal protection affect firm market value? Evidence from the uniform trade secret act","publication_year":2016,"publication_date":"2016-05-12","ids":{"openalex":"https://openalex.org/W2353066356","doi":"https://doi.org/10.1002/smj.2533","mag":"2353066356"},"language":"en","primary_location":{"id":"doi:10.1002/smj.2533","doi":"https://doi.org/10.1002/smj.2533","is_oa":false,"landing_page_url":"https://doi.org/10.1002/smj.2533","pdf_url":null,"source":{"id":"https://openalex.org/S102949365","display_name":"Strategic Management Journal","issn_l":"0143-2095","issn":["0143-2095","1097-0266"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Strategic Management Journal","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5050485658","display_name":"Francesco Castellaneta","orcid":"https://orcid.org/0000-0002-4308-0480","observed_orcids":["https://orcid.org/0000-0002-4308-0480"]},"institutions":[{"id":"https://openalex.org/I25169866","display_name":"Universidade Cat\u00f3lica Portuguesa","ror":"https://ror.org/03b9snr86","country_code":"PT","type":"education","lineage":["https://openalex.org/I25169866"]}],"countries":["PT"],"is_corresponding":false,"raw_author_name":"Francesco Castellaneta","raw_affiliation_strings":["Catolica Lisbon School of Business and Economics, Lisbon, Portugal"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Catolica Lisbon School of Business and Economics, Lisbon, Portugal","institution_ids":["https://openalex.org/I25169866"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5017058080","display_name":"Raffaele Conti","orcid":"https://orcid.org/0000-0002-5314-1451","observed_orcids":["https://orcid.org/0000-0002-5314-1451"]},"institutions":[{"id":"https://openalex.org/I25169866","display_name":"Universidade Cat\u00f3lica Portuguesa","ror":"https://ror.org/03b9snr86","country_code":"PT","type":"education","lineage":["https://openalex.org/I25169866"]}],"countries":["PT"],"is_corresponding":false,"raw_author_name":"Raffaele Conti","raw_affiliation_strings":["Catolica Lisbon School of Business and Economics, Lisbon, Portugal"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Catolica Lisbon School of Business and Economics, Lisbon, Portugal","institution_ids":["https://openalex.org/I25169866"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5039499374","display_name":"Aleksandra Joanna Kacperczyk","orcid":"https://orcid.org/0000-0001-7874-6177","observed_orcids":["https://orcid.org/0000-0001-7874-6177"]},"institutions":[{"id":"https://openalex.org/I63966007","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44","country_code":"US","type":"education","lineage":["https://openalex.org/I63966007"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Aleksandra Kacperczyk","raw_affiliation_strings":["MIT Sloan School of Management, Cambridge, Massachusetts, U.S.A"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"MIT Sloan School of Management, Cambridge, Massachusetts, U.S.A","institution_ids":["https://openalex.org/I63966007"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5039499374"],"corresponding_institution_ids":["https://openalex.org/I63966007"],"apc_list":{"value":4250,"currency":"USD","value_usd":4250},"apc_paid":null,"fwci":50.4134,"has_fulltext":false,"cited_by_count":66,"citation_normalized_percentile":{"value":0.99688967,"is_in_top_1_percent":true,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"38","issue":"4","first_page":"834","last_page":"853"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T13842","display_name":"Intellectual Property Law","score":0.3781999945640564,"subfield":{"id":"https://openalex.org/subfields/3308","display_name":"Law"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T13842","display_name":"Intellectual Property Law","score":0.3781999945640564,"subfield":{"id":"https://openalex.org/subfields/3308","display_name":"Law"},"field":{"id":"https://openalex.org/fields/33","display_name":"Social Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10856","display_name":"Intellectual Property and Patents","score":0.26980000734329224,"subfield":{"id":"https://openalex.org/subfields/1405","display_name":"Management of Technology and Innovation"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.18440000712871552,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/trade-secrets","display_name":"trade secrets","score":0.8240000009536743},{"id":"https://openalex.org/keywords/firm-market-value","display_name":"firm market value","score":0.8479999899864197},{"id":"https://openalex.org/keywords/uniform-trade-secrets-act","display_name":"Uniform Trade Secrets Act","score":0.7940000295639038},{"id":"https://openalex.org/keywords/mergers-and-acquisitions","display_name":"mergers and acquisitions","score":0.8930000066757202},{"id":"https://openalex.org/keywords/private-equity-investment","display_name":"private equity investment","score":0.7639999985694885}],"concepts":[{"id":"https://openalex.org/C2776139478","wikidata":"https://www.wikidata.org/wiki/Q602938","display_name":"Trade secret","level":3,"score":0.7088606953620911},{"id":"https://openalex.org/C127576917","wikidata":"https://www.wikidata.org/wiki/Q624630","display_name":"Competitor analysis","level":2,"score":0.6348391771316528},{"id":"https://openalex.org/C2776291640","wikidata":"https://www.wikidata.org/wiki/Q2912517","display_name":"Value (mathematics)","level":2,"score":0.6174867153167725},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6015286445617676},{"id":"https://openalex.org/C2779343474","wikidata":"https://www.wikidata.org/wiki/Q3109175","display_name":"Context (archaeology)","level":2,"score":0.43940457701683044},{"id":"https://openalex.org/C2778137410","wikidata":"https://www.wikidata.org/wiki/Q2732820","display_name":"Government (linguistics)","level":2,"score":0.4298152029514313},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4295497238636017},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3914332091808319},{"id":"https://openalex.org/C54750564","wikidata":"https://www.wikidata.org/wiki/Q26643","display_name":"Commerce","level":1,"score":0.3410053551197052},{"id":"https://openalex.org/C34974158","wikidata":"https://www.wikidata.org/wiki/Q131257","display_name":"Intellectual property","level":2,"score":0.2633257210254669},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.23107224702835083},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.14103630185127258},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C119857082","wikidata":"https://www.wikidata.org/wiki/Q2539","display_name":"Machine learning","level":1,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1002/smj.2533","doi":"https://doi.org/10.1002/smj.2533","is_oa":false,"landing_page_url":"https://doi.org/10.1002/smj.2533","pdf_url":null,"source":{"id":"https://openalex.org/S102949365","display_name":"Strategic Management Journal","issn_l":"0143-2095","issn":["0143-2095","1097-0266"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Strategic Management Journal","raw_type":"journal-article"},{"id":"pmh:oai:HAL:halshs-03902433v1","doi":null,"is_oa":false,"landing_page_url":"https://shs.hal.science/halshs-03902433","pdf_url":null,"source":{"id":"https://openalex.org/S4306402512","display_name":"HAL","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I4405252976","host_organization_name":"Centre pour la Communication Scientifique Directe","host_organization_lineage":["https://openalex.org/I4405252976"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Strategic Management Journal, 2017, 38 (4), pp.834-853. ⟨10.1002/smj.2533⟩","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:RePEc:bla:stratm:v:38:y:2017:i:4:p:834-853","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1002/smj.2533","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.48510000109672546}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":77,"referenced_works":["https://openalex.org/W20142028","https://openalex.org/W190172311","https://openalex.org/W593542061","https://openalex.org/W617038684","https://openalex.org/W1497789111","https://openalex.org/W1556093666","https://openalex.org/W1563436498","https://openalex.org/W1563987784","https://openalex.org/W1570209192","https://openalex.org/W1577726433","https://openalex.org/W1826674567","https://openalex.org/W1856480505","https://openalex.org/W1976587265","https://openalex.org/W1978371266","https://openalex.org/W1983447829","https://openalex.org/W2006153666","https://openalex.org/W2011513653","https://openalex.org/W2020262970","https://openalex.org/W2024701722","https://openalex.org/W2026645280","https://openalex.org/W2054520975","https://openalex.org/W2061977616","https://openalex.org/W2073653741","https://openalex.org/W2075733030","https://openalex.org/W2082445366","https://openalex.org/W2085563972","https://openalex.org/W2085890616","https://openalex.org/W2088062700","https://openalex.org/W2096900271","https://openalex.org/W2113507911","https://openalex.org/W2117610553","https://openalex.org/W2122679534","https://openalex.org/W2123628178","https://openalex.org/W2124298085","https://openalex.org/W2125244490","https://openalex.org/W2127981728","https://openalex.org/W2133573513","https://openalex.org/W2135466244","https://openalex.org/W2138894380","https://openalex.org/W2142257426","https://openalex.org/W2142831770","https://openalex.org/W2143585157","https://openalex.org/W2150733154","https://openalex.org/W2151746289","https://openalex.org/W2156109180","https://openalex.org/W2160449301","https://openalex.org/W2163226127","https://openalex.org/W2164962020","https://openalex.org/W2168970594","https://openalex.org/W2172234609","https://openalex.org/W2179492332","https://openalex.org/W2258342398","https://openalex.org/W2267971999","https://openalex.org/W2270227254","https://openalex.org/W2339893533","https://openalex.org/W2617583700","https://openalex.org/W2711453729","https://openalex.org/W2889570252","https://openalex.org/W3021172388","https://openalex.org/W3121459660","https://openalex.org/W3122007492","https://openalex.org/W3122415596","https://openalex.org/W3123781421","https://openalex.org/W3123808995","https://openalex.org/W3123903133","https://openalex.org/W3124020475","https://openalex.org/W3124119164","https://openalex.org/W3124147557","https://openalex.org/W3124236867","https://openalex.org/W3124536214","https://openalex.org/W3125129610","https://openalex.org/W3125188377","https://openalex.org/W3125571233","https://openalex.org/W3125773907","https://openalex.org/W3126065765","https://openalex.org/W3194600016","https://openalex.org/W4256499879"],"related_works":["https://openalex.org/W2239310327","https://openalex.org/W1969945003","https://openalex.org/W4286664987","https://openalex.org/W4414325621","https://openalex.org/W4386087266","https://openalex.org/W4289936561","https://openalex.org/W4402906564","https://openalex.org/W7111511385","https://openalex.org/W2591712083","https://openalex.org/W3123672872"],"abstract_inverted_index":{"Research":[0],"summary":[1,127],":":[2,128],"We":[3,129],"investigate":[4],"the":[5,17,38,52,87,155,169,188,236],"impact":[6,238],"of":[7,19,73,82,107,158,172,183,191,239],"trade":[8,29,46,95,135,151,192,222,244],"secret":[9,30,47,96,136,152,193],"legal":[10,137],"protection":[11,48,97,138,153],"on":[12,187,212],"firm":[13,143],"market":[14,24,41,156,170],"value":[15,25,42,157,171,179],"in":[16,71,86,102,114,134,160,174,210],"context":[18],"acquisitions.":[20],"On":[21,37],"one":[22],"hand,":[23,40],"may":[26,43,196],"increase":[27,133],"because":[28,45],"assets":[31],"become":[32],"better":[33,225],"protected":[34],"from":[35],"rivals.":[36],"other":[39],"decrease":[44],"reduces":[49],"information":[50],"about":[51,63],"target":[53],"and":[54,121],"its":[55,64],"competitors":[56],"available":[57],"to":[58,198,205],"potential":[59],"buyers,":[60],"increasing":[61],"uncertainty":[62,120],"value.":[65],"Buyers":[66],"will":[67,215],"discount":[68],"their":[69,147,200],"offers":[70],"expectation":[72],"being":[74],"compensated":[75],"for":[76],"riskier":[77],"deals.":[78],"Using":[79],"a":[80,99,111],"sample":[81],"private":[83],"equity":[84],"investments":[85],"U":[88],"nited":[89],"S":[90],"tates,":[91],"we":[92],"find":[93],"that":[94,131],"has":[98],"positive":[100],"effect":[101,113,190],"industries":[103,115,161,175],"with":[104,116,162,176,243],"high":[105,118,123,163,181],"mobility":[106],"knowledge":[108],"workers,":[109],"but":[110,166],"negative":[112],"(1)":[117],"resource\u2013value":[119],"(2)":[122],"poor\u2010investment":[124],"risk.":[125],"Managerial":[126],"argue":[130],"an":[132],"might":[139],"not":[140],"unequivocally":[141],"benefit":[142],"owners":[144],"when":[145,221],"selling":[146],"business.":[148],"A":[149],"stronger":[150],"increases":[154],"firms":[159,173],"workers'":[164],"mobility,":[165],"it":[167],"decreases":[168],"uncertain":[177],"resource":[178],"and/or":[180],"risk":[182],"poor\u2010acquisition":[184],"investments.":[185],"Based":[186],"contingent":[189],"protection,":[194],"companies":[195],"want":[197],"adjust":[199],"strategic":[201],"decisions,":[202],"including":[203],"where":[204],"locate":[206],"or":[207,218],"relocate,":[208],"based":[209],"part":[211],"whether":[213],"they":[214],"derive":[216],"benefits":[217],"suffer":[219],"losses":[220],"secrets":[223],"are":[224],"protected.":[226],"Finally,":[227],"our":[228],"study":[229],"should":[230],"help":[231],"policymakers":[232],"understand":[233],"more":[234],"fully":[235],"economic":[237],"government":[240],"policies":[241],"associated":[242],"secrets.":[245],"Copyright":[246],"\u00a9":[247],"2016":[248],"John":[249],"Wiley":[250],"&":[251],"Sons,":[252],"Ltd.":[253]},"counts_by_year":[{"year":2026,"cited_by_count":14},{"year":2025,"cited_by_count":13},{"year":2024,"cited_by_count":10},{"year":2023,"cited_by_count":4},{"year":2022,"cited_by_count":4},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":4},{"year":2018,"cited_by_count":7},{"year":2017,"cited_by_count":1},{"year":2016,"cited_by_count":2}],"updated_date":"2026-10-30T12:39:25.321706","created_date":"2016-06-24T00:00:00"}