Fake Products, Real Effects: Evidence from Special 301 Actions

Mehmet I. Canayaz, Umit G. Gurun

Research output: Contribution to journalArticlepeer-review

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.

Original languageEnglish (US)
Pages (from-to)2024-2063
Number of pages40
JournalJournal of Financial and Quantitative Analysis
Volume58
Issue number5
DOIs
StatePublished - Aug 24 2023

All Science Journal Classification (ASJC) codes

  • Accounting
  • Finance
  • Economics and Econometrics

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