Topic: Intellectual Property Valuation, Securitization and Innovation Diffusion

Guest: Dr Tianhao Zhi,

             BNU-HKBU United International College (UIC),

             Assistant Professor of Financial Mathematics

Date:   May 22th, 2024 (Wednesday)

Time:  13:00-14:00

Venue: T1-302-R1

Language: English

Lecture mode: On-site participation

Abstract

J.A. Schumpeter, in his pioneering work "The Theory of Economic Development", made an elaborative distinction between inventors, innovators, and investors. The recent development of Intellectual Property Asset-Backed Securitization (IP-ABS) has a great potential in connecting the three parties more effectively compared with traditional venture capitalist practice in promoting sustainable R&D. Yet the current macroeconomic environment, coupled with a lack of theoretical development in valuation and financial engineering of IP-based investments had impeded further growth of IP-ABS market. Based on existing literature such as Iazzolino and Migniano (2015), this talk illustrates how real option approach can provide a systematic framework in patent valuation and R&D risk management, particularly in the context of patent securitization process. We also look at the current literature in stochastic and complex dynamics of innovation diffusion that may provide a better underlying process for patent valuation compared with a simple geometric Brownian motion.

About the Speaker

Dr Tianhao Zhi is assistant professor in financial mathematics at DST, UIC. Before joining UIC, he had worked as research assistant professor at Sun Yat-sen University in Guangzhou for two years. He received his PhD in Finance from University of Technology Sydney and his Master in Economics from Unversity of Queensland. His main research areas are in non-linear economic dynamics, valuation of intellectual property, and behavioural finance. His works are published and presented at numerous international journals and conferences, including Emerging Market Review, Studies in Nonlinear Dynamics and Econometrics, WEHIA, and CEF conference.