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- Title
Fake Products, Real Effects: Evidence from Special 301 Actions.
- Authors
Canayaz, Mehmet I.; Gurun, Umit G.
- 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.
- Subjects
COUNTERFEITERS; PRODUCT counterfeiting; PRODUCT counterfeiting laws; BRAND equity; MARKET penetration; CUSTOMER loyalty; CAPITAL; INVESTMENTS; CORPORATE finance
- Publication
Journal of Financial & Quantitative Analysis, 2023, Vol 58, Issue 5, p2024
- ISSN
0022-1090
- Publication type
Article
- DOI
10.1017/S0022109022001387