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1. Introduction Industry and Data Results and conclusions Strategic Analysis Through Patent Data Mariano A. Mantovani Politecnico di Torino October, 2014 Supervisor: Dr.…
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  • 1. Introduction Industry and Data Results and conclusions Strategic Analysis Through Patent Data Mariano A. Mantovani Politecnico di Torino October, 2014 Supervisor: Dr. Giuseppe Scellato Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 2. Introduction Industry and Data Results and conclusions Outline 1 Introduction Objectives Theoretical Framework Indicators 2 Industry and Data The Aircraft Manufacturing Industry Timeline Dataset Construction 3 Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 3. Introduction Industry and Data Results and conclusions Objectives Theoretical Framework Indicators Objectives This thesis has the following objectives Analyze the technological portfolios of the companies. Test methods for computing distance, coherence and concentration of their knowledge base. Analyze the evolution of the innovative strategies and finance performance of companies in the aeronautic sector, in particular: Airbus and Boeing. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 4. Introduction Industry and Data Results and conclusions Objectives Theoretical Framework Indicators Main Elements Knowledge-Based View of the firm: Similar to RBV (Penrose), Knowledge is the main resource for acquiring competitive advantage (Grantt, Aino) and factor of production. Indicators Concentration (Leten-Firms and markets concentration). Coherence (Nesta Innovative performance of farmaceutical firms,Quatraro-Knowledge transferences and its effects in production, Bart Leten-Diversification and performance of firms) Distance (Jaffe-Technological opportunities and Spillovers, Bar-Technological distance between firms) Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 5. Introduction Industry and Data Results and conclusions Objectives Theoretical Framework Indicators Herfindahl Index Used to measure the degree of concentration of patents among dierent classes. The index takes a value of 1 when patents tend to be concentrated between few classes and of 0 when they are spread. HI = i ( Ni N )2 (1) Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 6. Introduction Industry and Data Results and conclusions Objectives Theoretical Framework Indicators Coherence of the Knowledge Base Coherence is based on the degree of technological relatedness according to a randomness test. Weighted average relatedness of technology is dened as: WARi = i=j τij pj i=j pj (2) The coherence of the firm’s knowledge base estimates the average relatedness of any technology randomly chosen within the rm with respect to any other technology. COH = n i=1 ( pi i pi WARi ) (3) Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 7. Introduction Industry and Data Results and conclusions Objectives Theoretical Framework Indicators Distance Indicators Min-Complement Distance The complement of the share of overlap. M(Pi , Pj ) = 1 − n k MIN(pik, pjk) (4) Cosine Index Measures the cosine of the angle of the vectors. C(A, B) = 1 − n i=1(tfai log Npi ni )(tfbi log Npi ni ) n i=1(tfai log Npi ni )2 n i=1(tfbi log Npi ni )2 (5) Logarithms are adjustments for information content weighting. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 8. Introduction Industry and Data Results and conclusions The Aircraft Manufacturing Industry Timeline Dataset Construction Main Aspects of the Industry Duopolistic structure. Huge overhead and R&D expenditures. Backlog. High barriers to entry and exit. Airbus Group Formed as EADS in 2000. Project to unify the industry in Europe. 80% of revenues come from CA, competitive on this sector, but lately also in space and helicopters. Boeing Company Strongly tied to American history and government, founded in 1916, boosted by wars and space campaigns. Competitive in Civil Aircraft but also in defense and space. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 9. Introduction Industry and Data Results and conclusions The Aircraft Manufacturing Industry Timeline Dataset Construction Some Events of the Past Decade Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 10. Introduction Industry and Data Results and conclusions The Aircraft Manufacturing Industry Timeline Dataset Construction Dataset Construction The analysis is performed using the Thomson patent database. Patents are grouped by families and inventive activity by the priority date. Countings are done according to the IPC classification at class and group levels. The time framework is from 2000 to 2011. Financial information and other corporate information is obtained from the Annual Reports, disclosed to the public every year. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 11. Introduction Industry and Data Results and conclusions The Aircraft Manufacturing Industry Timeline Dataset Construction Dataset Construction Using the data: Compute of concentration at the class level for each portfolio. Compute of the distance using both indicators at class and group level for the most relevant class. Construction of a matrix of relatedness of the classes and computation of the coherence of the knowledge base of each company. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 12. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Concentrations The concentration measure shows that Airbus inventions are classified with more concentration, while Boeing remains relatively constant. Please note the increase for Airbus from 2005 to 2006. High frequency classes: B64: Aircraft, aviation, cosmonautics. G01: Measuring, testing. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 13. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Distance - Class Level Both distance measures show the same pattern. Since year 2007 starts a diversifica- tion process. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 14. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Selected Evidence of the Distance The graph shows the percentage of inventions of each portfolio that classifies into G01. Notice increasing and decreasing rates from year 2007. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 15. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Coherence Coherence may increase for two reasons: Investments classify constantly to the same class. Investments are classified in classes with positive relatedness. The companies under analysis follow mostly the same path. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 16. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Returns on Assets 2002 and 2009 falls in world passenger traffic caused by the terrorist attacks and the international financial crisis. Airbus ratios in 2006 and 2007 have different causes. Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 17. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Some Events of the Past Decade Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 18. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Airbus in 2006 and the Power8 Program Airbus suffered falls in profitability in 2006 due to technological problems -Result of unsuccessful R&D- with the A380 and other projects like the A400M and the A350. Two points of the Power8 Program: Develop Faster Focus on Core Business Activities Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 19. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Conclusions, advantages and drawbacks A couple of drawbacks Related to patent procedure and database Other ways of protecting knowledge Coclusion and Advantages Results show a dependence between the firms performance and inventive activity. Measuring patent portfolios with indicators allows to: Find periods and fields of diversification and hence locate and describe trends on the inventive strategy of incumbents Mariano A. Mantovani Strategic Analysis Through Patent Data
  • 20. Introduction Industry and Data Results and conclusions Results Selected Profitability Indicators Airbus in 2006 Thank for your attention Mariano A. Mantovani Strategic Analysis Through Patent Data
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